U.S. Home Healthcare Market Share Analysis Report, 2022-2030
The U.S. Home Healthcare market size was valued at US$ 132.9 billion in 2021 and is expected to hit US$ 253.8 billion by 2030, growing at a compound annual growth rate (CAGR) of 7.50% from 2022 to 2030.
Growth Factors:
The growing geriatric population and increasing prevalence of chronic diseases along with favorable reimbursement for home healthcare equipment are key drivers for the U.S. market. The recent advancements in technology & cost-effectivity of home healthcare services are likely to drive the market growth during the forecast period. The U.S. geriatric population has been growing rapidly over the past decade. As per the U.S. Census Bureau, 54 million adults in the U.S. are aged 65 years & above, accounting for 16.5% of the country’s population. The geriatric population typically prefers to stay at home as they age instead of in a medical facility.
Moreover, older patients opt for home healthcare services following surgery or treatment at the hospital to reduce their hospital stay, resulting in higher demand for home healthcare services. Administration of medications at home for chronic disorders offers benefits, such as faster recovery, better experience, fewer complications, and reduced cost, which is boosting the demand for home care services in the U.S.
Medicare provides reimbursement for home health services such as intermittent skilled nursing care, care provided by a home health aide, and therapy under either Part A or Part B, depending on the circumstances.
However, government organizations are taking measures to get service providers to focus more on the clinical characteristics of the patients, to eliminate the use of therapy service thresholds. For instance, a major change to the reimbursement system in decades is the Patient-Driven Groupings Model (PDGM) that was implemented in January 2020, which is reshaping the reimbursement of home healthcare services.
Report Scope of the U.S. Home Healthcare Market
|
Report Coverage |
Details |
|
Market Size in 2021 |
USD 132.9 Billion |
|
Revenue Projection By 2030 |
USD 253.8 Billion |
|
Growth Rate |
CAGR of 7.50% from 2022 to 2030 |
|
Base Year |
2021 |
|
Historical data |
2017 - 2020 |
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Forecast Period |
2022 to 2030 |
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Segments Covered |
Component |
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Companies Mentioned |
McKesson Medical-Surgical, Inc.; NxStage Medical (Fresenius Medical Care); Medline Industries Inc.; Medtronic plc; 3M Healthcare; Baxter International Inc.; B. Braun Melsungen AG; F. Hoffman-La Roche AG; Becton, Dickinson and Company; Kindred Healthcare, LLC; Brookdale Senior Living Inc.; Sunrise Senior Living, LLC; Genesis Healthcare, Inc.; Capital Senior Living Corporation (Sonida Senior Living); Diversicare Healthcare Services, Inc.; Senior Care Center; Atria Senior Living, Inc.; Amedisys, Inc.; Home Instead, Inc. |
The concept of home healthcare has evolved over the years and is likely to play an integral role in future healthcare systems in the U.S. Over the past few years, there have been rapid advancements in technologies used by home healthcare providers. Electronic visit verification is an upcoming technology, facilitating verification of caregiver appointments, scheduling, & cancellation, and avoiding no-show home appointments.
The verification includes information about the patient and home healthcare professional, including location, date, & time of service required. According to the social services department, by 2023, all home healthcare service providers in the U.S. must implement electronic visit verification, as per recent regulations.
Component Insights
Based on components, the services segment held the largest market share in terms of revenue in 2021 and is anticipated to expand at a 7.3% compound annual growth rate (CAGR) during the forecast period. The component segment is categorized into equipment and services. The services segment growth is attributed to the increasing adoption of long-term care services and recurring costs incurred by the patients as compared to the one-time purchase cost of equipment.
Increasing focus of manufacturers on introducing innovative equipment, availability of reimbursement, and increasing at-home treatment/diagnostic efficiency are factors expected to contribute to the fastest growth of the equipment segment during the forecast period.
The skilled home healthcare services segment accounted for the largest share in terms of market revenue and is expected to register the fastest growth at a 7.57% compound annual growth rate (CAGR) during the forecast period. The services segment is broadly classified into skilled home healthcare services and unskilled home healthcare services.
Increasing home healthcare agencies, rising demand for home healthcare services, and favorable health reimbursement policies are major factors contributing to the segment growth. Patients are choosing to recover at home instead of in an inpatient facility due to greater comfort and reduced healthcare costs, which has led to rise in demand for skilled medical care services in the market.
Some of the prominent players in the U.S. Home Healthcare Market include:
Segments Covered in the Report
This research report offers market revenue, sales volume, production assessment and prognoses by classifying it on the basis of various aspects. Further, this research study investigates market size, production, consumption and its development trends at U.S. for the period of 2017 to 2030
Key Points Covered in U.S. Home Healthcare Market Study:
Chapter 1 Methodology and Scope
1.1 Market Segmentation
1.2 Estimates and Forecast Timeline
1.3 Objectives
1.3.1 Objective - 1
1.3.2 Objective - 2
1.3.3 Objective - 3
1.4 Research Methodology
1.5 Information Procurement
1.5.1 Purchased database:
1.5.2 Nova one advisor’s Internal Database
1.5.3 Secondary sources
1.5.4 Primary research
1.6 Information or Data Analysis
1.7 Market Formulation & Validation
1.8 Model Details
1.8.1 Commodity Flow Analysis
1.9 List of Secondary Sources
1.10 List of Abbreviations
Chapter 2 Executive Summary
2.1 Market Outlook
2.2 Segment Outlook
2.2.1 Component
2.3 Competitive Insights
Chapter 3 U.S. Home Healthcare Service Market - Industry Outlook
3.1 Market Lineage Outlook
3.1.1 Parent Market
3.1.2 Related/Ancillary Market
3.2 Penetration & Growth Prospect Mapping
3.3 Regulatory Scenario & Reimbursement Framework
3.3.1 Regulatory Scenario
3.3.2 Reimbursement Framework
3.4 Impact of COVID-19
3.5 Market Dynamics
3.5.1 Market Driver Analysis
3.5.1.1 Growing geriatric population and increasing prevalence of chronic diseases
3.5.1.2 Favorable reimbursement for home healthcare equipment
3.5.1.3 Rapid technological advancement
3.5.1.4 Home healthcare as a cost-effective alternative
3.5.2 Market Restraint Analysis
3.5.2.1 Shortage of workforce
3.5.2.2 Complicated reimbursement framework and reimbursement cuts
3.5.2.3 Risks associated with home healthcare equipment
3.5.3 Supply Demand Analysis
3.5.4 Consumer Behavior Analysis
3.5.5 Industry Analysis - Porter’s Five Forces Analysis
3.5.5.1 Competitive rivalry: High
3.5.5.2 Bargaining power of suppliers: Moderate
3.5.5.3 Bargaining power of buyers: Low
3.5.5.4 Threat of substitutes: Moderate
3.5.5.5 Threat of new entrants: Moderate
3.5.6 PESTEL Analysis
3.5.6.1 Political & legal
3.5.6.2 Economic & social
3.5.6.3 Technological
Chapter 4 U.S. Home Healthcare Market: Component Analysis
4.1 Component Movement Analysis & Market Share, 2021 & 2030
4.2 Component Segment Dashboard
4.2.1 Equipment
4.2.1.1 Equipment market, 2017 - 2030 (USD Million)
4.2.1.2 Therapeutic Equipment
4.2.1.2.1 Therapeutic equipment market, 2017 - 2030 (USD Million)
4.2.1.2.2 Home respiratory equipment
4.2.1.2.2.1 Home respiratory market, 2017 - 2030 (USD Million)
4.2.1.2.3 Home IV pumps
4.2.1.2.3.1 Home IV pumps market, 2017 - 2030 (USD Million)
4.2.1.2.4 Home dialysis equipment
4.2.1.2.4.1 Home dialysis equipment market, 2017 - 2030 (USD Million)
4.2.1.2.5 Insulin delivery
4.2.1.2.5.1 Insulin delivery market, 2017 - 2030 (USD Million)
4.2.1.2.6 Other therapeutic equipment
4.2.1.2.6.1 Other therapeutic equipment market, 2017 - 2030 (USD Million)
4.2.1.3 Diagnostic Equipment
4.2.1.3.1 Diagnostic equipment market, 2017 - 2030 (USD Million)
4.2.1.3.2 Diabetic care unit
4.2.1.3.2.1 Diabetic care unit market, 2017 - 2030 (USD Million)
4.2.1.3.3 BP monitors
4.2.1.3.3.1 BP monitors market, 2017 - 2030 (USD Million)
4.2.1.3.4 Multi para diagnostic monitors
4.2.1.3.4.1 Multi para diagnostic market, 2017 - 2030 (USD Million)
4.2.1.3.5 Apnea and sleep monitors
4.2.1.3.5.1 Apnea and sleep monitors market, 2017 - 2030 (USD Million)
4.2.1.3.6 Home pregnancy and fertility kits
4.2.1.3.6.1 Home pregnancy and fertility kits market, 2017 - 2030 (USD Million)
4.2.1.3.7 Holter monitors
4.2.1.3.7.1 Holter monitors market, 2017 - 2030 (USD Million)
4.2.1.3.8 Heart rate meters
4.2.1.3.8.1 Heart rate monitors market, 2017 - 2030 (USD Million)
4.2.1.3.9 Other Diagnostic equipment
4.2.1.3.9.1 Other diagnostic equipment market, 2017 - 2030 (USD Million)
4.2.1.4 Mobility Assist Equipment
4.2.1.4.1 Mobility assist equipment market, 2017 - 2030 (USD Million)
4.2.1.4.2 Wheelchair
4.2.1.4.2.1 Wheelchair market, 2017 - 2030 (USD Million)
4.2.1.4.3 Home Medical Furniture
4.2.1.4.3.1 Home medical furniture market, 2017 - 2030 (USD Million)
4.2.1.4.4 Walking Assist Devices
4.2.1.4.4.1 Walking assist devices market, 2017 - 2030 (USD Million)
4.2.2 Service
4.2.2.1 Service market, 2017 - 2030 (USD Million)
4.2.2.2 Skilled Home Healthcare Services
4.2.2.2.1 Skilled home healthcare market, 2017 - 2030 (USD Million)
4.2.2.2.2 Nursing care
4.2.2.2.2.1 Nursing care market, 2017 - 2030 (USD Million)
4.2.2.2.3 Physician/primary care
4.2.2.2.3.1 Physician/primary care market, 2017 - 2030 (USD Million)
4.2.2.2.4 Hospice & palliative care
4.2.2.2.4.1 Hospice & palliative care market, 2017 - 2030 (USD Million)
4.2.2.2.5 Physical/occupational/speech therapy
4.2.2.2.5.1 Physical/occupational/speech therapy market, 2017 - 2030 (USD Million)
4.2.2.2.6 Nutritional Support
4.2.2.2.6.1 Nutritional support market, 2017 - 2030 (USD Million)
4.2.2.2.7 Other skilled home healthcare services
4.2.2.2.7.1 Other skilled home healthcare market, 2017 - 2030 (USD Million)
4.2.2.3 Unskilled Home Healthcare Services
4.2.2.3.1 Unskilled home healthcare market, 2017 - 2030 (USD Million)
Chapter 5 Competitive Landscape
5.1 Recent Developments & Impact Analysis, by Key Market Participants: Manufacturers
5.2 Recent Developments & Impact Analysis, by Key Market Participants: Service Providers
5.3 Company/Competition Categorization (Key innovators, Market leaders, Emerging players): Manufacturers
5.4 Company/Competition Categorization (Key innovators, Market leaders, Emerging players): Service Providers
5.5 Company Market Position Analysis: Manufacturers
5.6 Company Market Position Analysis: Service Providers
5.7 Company Profiles: Manufacturers
5.7.1 McKesson Medical-Surgical, Inc.
5.7.1.1 Company overview
5.7.1.2 Financial performance
5.7.1.3 Product benchmarking
5.7.2 NxStage Medical (Fresenius Medical Care)
5.7.2.1 Company overview
5.7.2.2 Financial performance
5.7.2.3 Product benchmarking
5.7.2.4 Strategic initiatives
5.7.3 Medline Industries Inc.
5.7.3.1 Company overview
5.7.3.2 Financial performance
5.7.3.3 Product benchmarking
5.7.3.4 Strategic initiatives
5.7.4 Medtronic plc
5.7.4.1 Company overview
5.7.4.2 Financial performance
5.7.4.3 Product benchmarking
5.7.4.4 Strategic initiatives
5.7.5 3M Healthcare
5.7.5.1 Company overview
5.7.5.2 Financial performance
5.7.5.3 Product benchmarking
5.7.5.4 Strategic initiatives
5.7.6 Baxter International Inc.
5.7.6.1 Company overview
5.7.6.2 Financial performance
5.7.6.3 Product benchmarking
5.7.6.4 Strategic initiatives
5.7.7 B. Braun Melsungen AG
5.7.7.1 Company overview
5.7.7.2 Financial performance
5.7.7.3 Product benchmarking
5.7.7.4 Strategic initiatives
5.7.8 . Hoffman-La Roche AG
5.7.8.1 Company overview
5.7.8.2 Financial performance
5.7.8.3 Product benchmarking
5.7.8.4 Strategic initiatives
5.7.9 Becton, Dickinson and Company
5.7.9.1 Company overview
5.7.9.2 Financial performance
5.7.9.3 Product benchmarking
5.7.9.4 Strategic initiatives
5.8 Company Profiles: Service Providers
5.8.1 Kindred Healthcare, LLC
5.8.1.1 Company overview
5.8.1.2 Service benchmarking
5.8.1.3 Strategic initiatives
5.8.2 Brookdale Senior Living Inc.
5.8.2.1 Company overview
5.8.2.2 Financial performance
5.8.2.3 Service benchmarking
5.8.2.4 Strategic initiatives
5.8.3 Sunrise Senior Living, LLC
5.8.3.1 Company overview
5.8.3.2 Financial performance
5.8.3.3 Service benchmarking
5.8.3.4 Strategic initiatives
5.8.4 Genesis HealthCare
5.8.4.1 Company overview
5.8.4.2 Financial performance
5.8.4.3 Service benchmarking
5.8.4.4 Strategic initiatives
5.8.5 Sonida Senior Living. (Capital Senior Living CORPORATION)
5.8.5.1 Company overview
5.8.5.2 Financial performance
5.8.5.3 Service benchmarking
5.8.5.4 Strategic initiatives
5.8.6 Diversicare Healthcare Services, Inc.
5.8.6.1 Company overview
5.8.6.2 Financial performance
5.8.6.3 Service benchmarking
5.8.6.4 Strategic initiatives
5.8.7 Senior Care Center
5.8.7.1 Company overview
5.8.7.2 Financial performance
5.8.7.3 Service benchmarking
5.8.7.4 Strategic initiatives
5.8.8 Atria Senior Living, Inc.
5.8.8.1 Company overview
5.8.8.2 Financial performance
5.8.8.3 Service benchmarking
5.8.8.4 Strategic initiatives
5.8.9 Amedisys, Inc.
5.8.9.1 Company overview
5.8.9.2 Financial performance
5.8.9.3 Service benchmarking
5.8.9.4 Strategic initiatives
5.8.10 Home Instead, Inc.
5.8.10.1 Company overview
5.8.10.2 Financial performance
5.8.10.3 Service benchmarking
5.8.10.4 Strategic initiatives
5.9 Vendor Landscape
5.9.1 List of Few Home Healthcare Providers
5.9.2 List of Few Home Healthcare Equipment Distributors in the U.S.
5.9.3 Synergy Analysis: Major Deals & Strategic Alliances
5.9.3.1 Mergers & acquisitions
5.9.3.2 Partnerships & collaborations
5.9.3.3 Market expansion
5.9.3.4 Product launch
Cross-segment Market Size and Analysis for
Mentioned Segments
Additional Company Profiles (Upto 5 With No Cost)
Additional Countries (Apart From Mentioned Countries)
Country/Region-specific Report
Go To Market Strategy
Region Specific Market DynamicsRegion Level Market Share Import Export AnalysisProduction AnalysisOthers