Home Healthcare Market size is projected to reach US$ 587.00 billion by 2031, at 8.5% CAGR - The Insight Partners

The home healthcare market is experiencing rapid growth, fueled by an aging global population, rising prevalence of chronic diseases, and increasing consumer preference for cost-effective, at-home medical care. Technological advancements such as telemedicine and remote monitoring are enhancing service quality and accessibility. Growing awareness and acceptance among patients and providers are further driving demand.

/EIN News/ -- US & Canada, April 24, 2025 (GLOBE NEWSWIRE) -- According to a new comprehensive report from The Insight Partners, the global Home Healthcare Market is experiencing significant growth owing to the mounting prevalence of chronic diseases in the aging population and the cost-effectiveness of home healthcare.

The home healthcare market analysis focuses on an array of products and services that are expected to contribute to the overall market performance in the coming years. The report runs an in-depth analysis of market trends, key players, and future opportunities.

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Overview of Report Findings

1. Market Growth: The home healthcare market is expected to reach a value of US$ 587.00 billion by 2031 from US$ 332.33 billion in 2024. The market is expected to register a CAGR of 8.5% during 2025–2031. The market growth is associated with the cost-effectiveness of home healthcare services, coupled with ongoing developments in medical technologies. In addition, the surging prevalence of chronic diseases among the aging population fuels the demand for home healthcare services to ensure healthy aging. However, the surging privacy issues in home healthcare services hamper the home healthcare market growth. Home healthcare includes services such as nursing care, therapy, medication management, and personal care, all provided inside the patient's home. These services are designed for individuals who are recovering from an illness or injury, have chronic conditions, or need ongoing medical support while being able to stay safely at home. They are delivered by various professionals, including registered nurses, licensed practical nurses, therapists, and personal care attendants.
2. Increasing Incidences of Chronic Diseases in Geriatric Population: According to the statistics published by the World Health Organization in October 2024, by 2030, ~1 in 6 individuals worldwide will be aged 60 years or older. The proportion of the population aged 60 and above will grow from 1 billion in 2020 to 1.4 billion in 2030. By 2050, the global population of those aged 60 and older is expected to reach 2.1 billion. The populace aged 80 years and above is predicted to increase threefold from 2020 to 2050, reaching ~426 million by 2050. Noncommunicable diseases (NCDs), such as cancer, diabetes, and cardiovascular illnesses, are more common in elderly people, which calls for affordable and easily accessible long-term care options. According to the Global Burden of Disease (GBD) study published in 2019, NCDs account for a considerable percentage of global health issues among older adults. For instance, the prevalence of cardiovascular diseases is anticipated to surge by 90% between 2025 and 2050, primarily due to the aging population.
3. Cost-Effectiveness of Home Healthcare Services: Reduced rates of emergency room (ER) visits, readmissions, and hospital hospitalizations among patients receiving home-based care further increase healthcare savings by preventing expensive and preventable accidents. According to the Centers for Medicare and Medicaid Services (CMS), encouraging care providers to curb 75% of readmissions that can be preventable may help governments save more than US$ 26 billion in the next 7–10 years. As per the Partnership for Quality Home Healthcare, through its Home Health Value-Based Purchasing (HHVBP) Model, Medicare has saved nearly US$ 1.38 billion over 6 years in just 9 states in the US. According to the Commonwealth Funds, when compared to typical hospital care, "hospital at home" programs have shown comparable outcomes and fewer problems at a cost of at least 30% less. Thus, home healthcare essentially leads to lower costs, which fuel the home healthcare market.
4. Geographical Insights: In 2023, North America led the market with a substantial revenue share, followed by Europe and APAC. APAC is expected to register the highest CAGR in the market during the forecast period.

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Market Segmentation

• The home healthcare market, based on service, is segmented into skilled nursing care, physical therapy, rehabilitation therapy, speech therapy, and others. The skilled nursing care segment held the largest share of the market in 2024 and is expected to retain its dominance during the forecast period.
• Based on type, the market is segmented into therapeutic, diagnostic, and mobility assistance. The therapeutic segment held the largest share of the home healthcare market in 2024.
• In terms of indication, the home healthcare market is categorized as cancer, respiratory diseases, mobility disorders, cardiovascular disorders, wound care, diabetes, and others. The respiratory diseases segment held the largest market share in 2024.
• The home healthcare market is segmented into five major regions: North America, Europe, Asia Pacific, Middle East and Africa, and South and Central America.

Competitive Strategy and Development

• Key Players: Enhabit Home Health & Hospice; Apollo HomeCare; Cura Mexico; Koninklijke Philips NV; LHC Group Inc; BAYADA Home Health Care; Mears Group Plc; Abbott Care; Amedisys Inc; Kindred Healthcare, LLC; and CenterWell Home Health are among the major companies operating in the home healthcare market.
• Trending Topics: Advancements in Patient Monitoring, AI in Home Healthcare, Telehealth and Telemonitoring Applications, Innovations in Home Healthcare Products, etc.

Global Headlines on Home Healthcare

• Enhabit Home Health & Hospice Acquired Southwest Florida Home Care, Inc.’s Fort Myers Site
• LHC Group-CHRISTUS JV Acquired Santa Rosa Hospice
• New Day Healthcare LLC Secured US$ 125 Million Senior Credit Facility with First Citizens Bank to Support Acquisitions in Hospice, Home Health, and Personal Care
• Madrid-based Webel Secured €1.4 Million (US$ 1.59 Million) Funding to support its international expansion.

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Conclusion

The rising incidents of chronic diseases (including NCDs) among elderly people and the cost-effectiveness of home healthcare services fuel the demand for services such as skilled nursing care, physical therapy, rehabilitation therapy, and speech therapy in home care settings. According to the WHO, the rate of population aging in 2024 was accelerating more rapidly than in previous years. As of 2020, there were more people aged 60 and above than there were children below the age of 5. The global population aged more than 60 is projected to almost double from 12% to 22% from 2015 to 2050. Common health issues faced by older adults include hearing impairment, cataracts and vision problems, back and neck discomfort, osteoarthritis, chronic obstructive pulmonary disease (COPD), diabetes, depression, and dementia. With age, individuals are likely to face multiple health conditions simultaneously. Advanced age is also associated with the onset of several intricate health conditions, often referred to as geriatric syndromes. Home healthcare, if suitable, is considered more cost-effective than extended hospital stays or institutional care. It reduces the burden on the healthcare system by enabling patients to receive individualized care in the comfort of their own homes. Moreover, home care settings help lower the burden posed by emergency room visits and extended hospital stays on healthcare systems. This is especially crucial given the fact that the annual cost of CVD management borne by these systems continues to rise.

Further, with technological advancements such as sensors, Internet of Things (IoT), cloud computing, and artificial intelligence, there is a call for cheaper, more inclusive, and more innovative healthcare solutions. For instance, connected medical devices with remote monitoring capabilities gained significant momentum in outpatient home care services during the COVID-19 pandemic.

The report from The Insight Partners provides several stakeholders—including pharmaceutical companies, hospitals, and consumers—with valuable insights into how to successfully navigate this evolving market landscape and unlock new opportunities.

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The Insight Partners is a one stop industry research provider of actionable intelligence. We help our clients in getting solutions to their research requirements through our syndicated and consulting research services. We specialize in industries such as Semiconductor and Electronics, Aerospace and Defense, Automotive and Transportation, Biotechnology, Healthcare IT, Manufacturing and Construction, Medical Device, Technology, Media and Telecommunications, Chemicals and Materials.

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