USA Home Healthcare Market Growth 2023- Industry Share-Size, Future Demand, Rising Trends, Business Opportunities and Forecast Report 2032: SPER Market Research
The home healthcare industry in the United States refers to the market for healthcare services offered to patients in their homes. Home healthcare services are often given by healthcare professionals such as nurses, physical therapists, occupational therapists, and home health aides. The purpose of home healthcare services is to give medical treatment and support to patients who are healing from an illness or injury, managing a chronic condition, or requiring assistance with activities of daily living. Home healthcare services may include skilled nursing care, wound care, medication administration, physical therapy, speech therapy, occupational therapy, and personal care services.
According to SPER Market Research, ‘USA Home Healthcare Market Size- By Equipment, By Service – Regional Outlook, Competitive Strategies and Segment Forecast to 2033’ state that the US Home Healthcare Market is predicted to reach USD 322.82 billion by 2033 with a CAGR of 7.69%.
The increased prevalence of chronic disorders such as diabetes, cancer, and cardiovascular disease, as well as the growing elderly population, are likely to boost the US hom healthcare market in the coming years. Because patients prefer to stay at home due to lower costs of care as compared to a healthcare center, disease prevalence has a positive impact on demand for home healthcare services and equipment. Consumers have responded positively to home healthcare equipment and services because of perks such as lower costs and receiving treatment in the comfort of their own homes. Home health monitoring delivers real-time updates to patients’ family and healthcare providers, allowing them to plan healthcare actions.
However, the US home healthcare market has various issues that will have an impact on its growth and development. To offer care to patients, the home healthcare business relies on a qualified workforce. However, there is a dearth of competent healthcare workers, such as nurses and home health aides, which makes meeting the increased demand for home healthcare services problematic. Technology, such as telemedicine and electronic health records (EHRs), can help to improve the efficiency and quality of home healthcare services. However, many home healthcare companies may face challenges to adoption, such as a lack of funding and technical knowledge.
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Impact of COVID-19 on the USA Home Healthcare Market:
During the first phase of the pandemic, complete shutdowns and mobility restrictions occurred, resulting in a lack of medical equipment for use in both households and hospitals. Restrictions on healthcare services and the fear of COVID-19 infection led to a surge in the use of home health services across the country, as it allowed patients to get competent care in the comfort of their own homes, avoiding the risk of infection. Healthcare institutions are offering care programs such as hospital-at-home and SNF-at-home, which reduce burden on facilities while saving patients money on healthcare. The federal government of the United States is launching steps to increase access to home healthcare.
USA Home Healthcare Market Key Segments Covered
The SPER Market Research report seeks to give market dynamics, demand, and supply forecasts for the years up to 2033. This report contains statistics on product type segment growth estimates and forecasts.
By Equipment: Based on the Equipment, USA Home Healthcare Market is segmented as; Diagnostic Equipment (Apnea and Sleep Monitors, BP Monitors, Diabetic Care Unit, Holter Rate Meters, Home Pregnancy and Fertility Kits, Multi Para Diagnostic Monitors, Other Diagnostic Equipment), Mobility Assist Equipment (Home Medical Furniture, Walking Assist Devices, Wheelchair), Therapeutic Equipment (Home Dialysis Equipment, Home IV Pumps, Home Respiratory Equipment, Insulin Delivery, Other Therapeutic Equipment).
By Service: Based on the Service, USA Home Healthcare Market is segmented as; Skilled Home Healthcare Services (Hospice & Palliative Care, Nursing Care, Nutritional Support, Physical/Occupational/Speech Therapy, Physician/Primary Care, Other Skilled Home Healthcare Services), Unskilled Home Healthcare Services.
By Region: This report also provides the data for key regional segments of Northeast Region, Southeast Region, Midwest Region, Southwest Region, Western Region.
This study also encompasses various drivers and restraining factors of this market for the forecast period. Various growth opportunities are also discussed in the report.
USA Home Healthcare Market Key Players:
Furthermore, California, Florida, and Texas are the major markets in the United States for home healthcare services, accounting for a sizable proportion of the overall market. Home healthcare services, on the other hand, are available throughout the country, and demand for these services is predicted to rise in all regions due to demographic and economic factors. In addition, some of the market key players are 3M Healthcare, Amedisys, Inc., Atria Senior Living, Inc., B. Braun Melsungen AG, Others.
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USA Home Healthcare Market Future Outlook
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Sara Lopes, Business Consultant – U.S.A.
SPER Market Research