The global home healthcare market is projected to reach $214.98 billion by 2025, reveals the premium market intelligence study by BIS Research. The study also highlights that the market is set to witness a CAGR of 8.54% between 2021 and 2025.
The comprehensive study of the global home healthcare market by BIS Research extensively covers the following
- Market numbers on products, and end user segments and respective sub-divisions that are influencing the market
- More than 150 products present in the market
- Detailed market share analysis, including the scrutiny of 15 countries
Besides these parameters, the study also encompasses the market growth drivers, opportunities, market restraining factors, competition mapping, segmental analysis, and COVID-19 impact on the market.
BIS Research study indicates that the global home healthcare market has witnessed significant growth in the past few decades, owing to adoption of mhealth technology. Furthermore, advancement in wearable technology for monitoring of novel vital signs; rise of the Internet of Medical Things (IoMT); evolution of remote monitoring solutions for the treatment of patients in an economical and efficient way; and the launch of products for wide range of applications are some of the prominent factors expected to propel the growth of the home healthcare market in the upcoming years.
The study highlights the various emerging opportunities, such as technological advancements in the home healthcare and regional expansion and increasing business collaborations for home healthcare in emerging economies.
Additionally, the market intelligence report by BIS Research throws a spotlight on the readiness index, technology adoption curve, key payment models, business models, regulatory landscape, patent scenario, and product pipeline for global home healthcare market.
View the Report from BIS Research at Global Home Healthcare Market
To gain a holistic view of the market, data from different segments of the market has been analyzed minutely. These segments include products, end user, and countries.
The product segment of the global market includes analysis of different types of products such as monitoring devices, health maintenance promotion devices, diagnostic devices, IT software, and services (SaaS).
To emphasize the impact of COVID-19 on the global home healthcare market, Shipra Jain, Senior Research Analyst – BIS Research, states, "The COVID-19 pandemic is transforming the mode of delivery of healthcare across countries. Both emerging and developed countries have witnessed accelerated growth in the adoption of telehealth services. The pandemic is expected to leave a long-term impact on the global healthcare industry, ushering in a new healthcare paradigm for the masses. Apart from the accelerated growth due to the COVID-19 pandemic, the home healthcare market has been witnessing increasing activity and innovation from new market entrants. Most of the new features in connected devices are AI-powered and designed for personalized user experience. The increasing level of competition is expected to pave way for further innovation in terms of business model, services, device features, and user experience.”
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Key insights are drawn from in-depth interviews with the key opinion leaders of leading companies, market participants, and vendors. The key players profiled in the report include Apple, Inc, Alphabet, Inc., Demant, Fitbit, Inc., Garmin Ltd, HK Smartmv Limited, Huami Corporation, Huawei Technologies Co., Ltd., Koninklijke Philips N.V., Omron Corporation, ResMed, Samsung Electronics Co., Ltd., Sonova Holding AG, Withings, Xiaomi Corporation, among others.
The study also offers strategic recommendations that can help organizations in tracking various products, trends, and technologies that are changing the dynamics of the market.
Who should buy this report?
- Home healthcare manufacturers (emerging and established) to gain a holistic view about the market potential of various devices and software and the developing economies for business expansions
- Established healthcare companies that are integrating AI in their research and development activities (RD), have completed a synergistic activity for entering in the market
- Established technology companies to gain insights about the market potential, market entry strategies, new technologies in the market, and key competitors
How can market intelligence on home healthcare add value to an organization’s decision-making process?
- Aid in product development
- Aid in understanding the pricing scenario of the products
- Aid in understanding the regulatory scenario of the market in different regions
- Aid in understanding the patent trend of the market
- Help in targeting a segment for launching a new product
- Aid in understanding market potential of different technologies
- Aid in understanding the end-user requirement
- Support in analyzing the market opportunities
- Insights on the key companies in the market
Insightful Questions Covered to Enable Companies to take Strategic Decisions
- How has COVID-19 impacted the global home healthcare market?
- What are the key regulations for the development, commercialization, and adoption of home healthcare devices?
- Which are the leading players that currently hold significant dominance in the global home healthcare market?
- What are the key strategies incorporated by the players of the global home healthcare market to sustain the competition and retain their supremacy?
- What is the patent landscape of the home healthcare market?
- What are the key technological developments on which the current industry leaders are spending their major share of research and development (RD) investment?
- What different business models have been adopted in the home healthcare market?
- What is the current market potential of different types of home healthcare services, and what are the factors deciding the growth potential of home healthcare services for the forecast period?
- What is the current revenue contribution of different products, and how would it evolve in the forecast period?
- How many products are in pipeline in different countries in the home healthcare market?
- How does the end-user perception impact the growth of the global home healthcare market?
- Which countries contribute to a major share of the current demand, and which countries hold significant scope for expansion for business activities by players of the global home healthcare market?
- What are the drivers, restraints, and opportunities in the global home healthcare market?
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