Report : Europe Home Healthcare Market Forecast to 2028 - COVID-19 Impact and Regional Analysis By Product Type (Therapeutic, Diagnostic, and Mobility Assist), Indication (Cancer, Respiratory Diseases, Mobility Disorders, Cardiovascular Disorders, Pregnancy, Wound Care, Diabetes, and Other Indications), and Service (Skilled Nursing, Rehabilitation Therapy, Hospice and Palliative Care, Unskilled Care, Respiratory Therapy, Infusion Therapy, and Pregnancy Care)
The cancer segment by indication is estimated to lead the market growth during the forecast period.
According to a new market research study of “Europe Home Healthcare Market Forecast to 2028 - COVID-19 Impact and Regional Analysis by Product Type, Indication, Service and Country.” The Europe home healthcare market is expected to reach US$ 1,76,618.77 million in 2028 from US$ 99,236.36 million in 2021; it is estimated to grow at a CAGR of 8.6% from 2021 to 2028. The report highlights trends prevailing in the Europe home healthcare market and the factors driving market along with those that act as hindrances.
The Europe 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. 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 UK and Germany have been supporting the hospital-at-home programs that provide flexibility to hospitals to provide patients with hospital-level care in their homes. Moreover, the home care setting industry has experienced a rise due to various product launches, collaborations, and innovations by the market players. Therefore, such strategies by the market players are likely to accelerate the market growth in the coming years. Health systems in European countries are adopting telehealth as a tool to extend care at homes to achieve improved outcomes at reduced costs. This is likely to encourage the introduction of more portable and affordable home healthcare devices. Apart from this, increasing partnerships among service providers is further propelling the growth of the market.
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 Europe 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 in Europe is attributed to the surging preference for home healthcare settings among patients and care providers, and rising focus on telehealth. However, limited insurance coverage and patient safety concerns are obstructing the market growth to a certain extent.
Fresenius SE & Co. KGaA, General Electric Company, LINDE, F. HOFFMANN-LA ROCHE LTD, A&D Company, Limited, BAYADA Home Health Care, and Invacare Corporation are among the leading companies operating in the Europe home healthcare market.
The report segments in Europe 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
- UK
- Germany
- France
- Italy
- Spain
- Rest of Europe
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