Across the globe, hospitalisation costs are surging and quality of nursing homes and residential care facilities is reported to be deteriorating. 

 

This has paved the way for quality in-home care. The industry is booming with major players expanding their global footprint and investing in growth markets such as India, China and Germany, says the Global Home Healthcare Market Outlook to 2025 published by Ken Research.

 

The report titled “ Global Home Healthcare Market Outlook to 2025 gives an in depth, comprehensive study on the home healthcare market globally. 

 

The United States of America is the leading market of home healthcare with one of the most comprehensive regulations governing the providers and has presence of a well organised market. Home Healthcare Market in European countries such as UK and Germany is also well organised and regulated, complemented by the high geriatric share of population in these countries. 

 

The APAC region has the highest growth rate owing to vibrant investment opportunities. However, MEA region has the lowest share of revenue as the geriatric population is comparatively lower in the region and laws pertaining to home healthcare are not present in most countries.

 

Across all countries, the demand for home healthcare is highest amongst the elderly and middle-aged population, followed by mother and infant segment due to rising caesarean and premature deliveries with complex care needs. 

 

Children are usually dependent on parents for care and require home healthcare mostly in cases of mental illness or chronic diseases. Government home care schemes are also targeted only at the elderly population, except in a few countries, mainly in North America and Europe.

 

Elderly care is the largest segment for home healthcare services, contributing more than 50 per cent share in various countries. Between 2015 and 2050, the proportion of the world’s population over 60 years will nearly double from 12 per cent to 22 per cent and 80 per cent of all older people will live in low- and middle-income countries. 

 

Furthermore, as people age, they are more likely to experience several conditions at the same time. Rehabilitation services commonly include occupational and physical therapy, speech therapy, stroke rehabilitation, post-op and post-trauma care. 

 

Apart from physiotherapy and wound care, other services such as lab at home, pharma at home and Dementia/Alzheimer’s care have also witnessed growth in developed and emerging markets.

 

Most of global home healthcare leading players are based out of the US and UK. However, there are a lot of consolidation activities taking place regionally specifically in the developing markets. One of the recent such transaction was the acquisition of Almost Family by LHC leading to a jump in its current year revenues by $800 million. Companies such as Healthcare at Home, Bayada, Right at Home and Home Instead Senior Care are actively looking for expansion opportunities overseas, including countries such as India, China and Germany.

 

Kindred Healthcare, one of the leading players in the US is set to separate its home health, hospice and community care businesses resulting into a standalone company, owned 40 per cent by Humana, whereas Bayada converted its business into a not-profit one in order to prevent any future takeover. It is anticipated that many players will start investing heavily in tech-based models/innovations in the coming years to stay ahead from their competition.

 

The growth of home healthcare market in the past decade was largely limited to America and Europe. The next hotspot for the industry is APAC region, with the highest projected CAGR for 2019-2025.

Growth in developed countries such as US and Japan will be driven by technology.

 

Comprehensive regulations related to home healthcare still have a long way to go in countries such as India, UAE and South Africa, whereas China has already initiated some reforms for industry growth. Government focus in other countries is largely on elderly care, and therefore other segments are highly dependent on private financing and insurance. -- Tradearabia News Service