North America Home Healthcare Market Forecast to 2028 - COVID-19 Impact and Regional Analysis By Product Type, Indication, and Service

The cancer segment by indication is estimated to lead the market growth during the forecast period.

According to a new market research study of “North America Home Healthcare Market Forecast to 2028 - COVID-19 Impact and Regional Analysis by Product Type, Indication, Service and Country.” The North America home healthcare market is expected to reach US$ 2,46,889.35 million by 2028 from US$ 1,34,836.10 million in 2021; it is estimated to grow with a CAGR of 9% from 2021 to 2028. The report highlights trends prevailing in the North America home healthcare market and the factors driving market along with those that act as hindrances.

The North America home healthcare market by indication, is segmented into cancer, respiratory diseases, mobility disorders, cardiovascular disorders, pregnancy, wound care, diabetes, and other indications. The cancer segment held the largest share of the market in 2020. However, the mobility disorders segment is anticipated to register the highest CAGR in the market during the forecast period.

Home healthcare encompasses a wide range of healthcare services provided for managing illnesses at home. As per the Centers for Disease Control and Prevention (CDC), 6 in 10 people in the US suffered from at least one chronic disease in 2019. Growing support from the government to encourage establishment of home care settings by encouraging the launch of product required for home care settings are the prominent factors supporting the growth of the home healthcare market in North America. Countries such as the US and Canada have been supporting the hospital-at-home programs that confer flexibility to hospitals to provide their patients with hospital-level care in their homes. Moreover, various strategies adopted by the home care setting industry players, including product launches, collaborations, and innovations, are accelerating the market growth.

As COVID-19 continues to burden health care institutions, the preference for home-based care is growing at a rapid pace. The COVID-19 pandemic has a mixed impact on the North America home healthcare market. It is boosting the adoption of home healthcare monitoring products such as blood glucose monitors, blood pressure monitors, pulse oximeters, and temperature monitors. However, many other companies and service providers have experienced decline in sales due to the discontinuation of manufacturing operations and disruption of supply chains. However, this downturn in is expected to continue for a short term, as the business are gradually picking pace post lockdown. Also, increasing collaborative efforts between service providers is offering lucrative opportunities for the market growth. The pandemic has encouraged trends favoring home care as an alternative to frequent hospital visits.

The growth of the market is attributed to the increasing prevalence of cancer and other chronic diseases, development in the medical device industry, and increasing home healthcare settings due to growing geriatric population in the region. However, limited insurance coverage and patient safety concerns are obstructing the growth of the market.

Fresenius SE & Co. KGaA, General Electric Company, LINDE, F. HOFFMANN-LA ROCHE LTD, A&D Company, Limited, LHC Group, Inc. BAYADA Home Health Care, Invacare Corporation, Abbott Care, and Amedisys are among the leading companies operating in the North America home healthcare market.

The report segments in North America Home Healthcare Market as follows:

By Product Type

• Therapeutic
• Diagnostic
• Mobility assist

By Indication

• Cancer
• Respiratory Diseases
• Cardiovascular Disorders
• Mobility Disorders
• Wound Care
• Diabetes
• Pregnancy
• Other Indications

By Service

• Skilled Nursing
• Rehabilitation Therapy
• Hospice and Palliative Care
• Unskilled Care
• Respiratory Therapy
• Infusion Therapy
• Pregnancy Care

By Country

• US
• Canada
• Mexico

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