New York, Oct. 19, 2022 (GLOBE NEWSWIRE) — Kenneth Research has recently published a detailed market report on the “Global Home Healthcare Services Market” for the forecast period, i.e., 2023-2033 which includes the following factors:
Market growth over the forecast period
Detailed regional synopsis
Key market players and their detailed profiling
Global Home Healthcare Services Market Size:
The global home healthcare services market is to acquire a notable revenue by 2033 and grow at a CAGR of ~9% during the forecast period. In addition, the market garnered significant revenue in 2022. The demand for personal care for the aged population is the major factor driving the market expansion. The rising geriatric population worldwide enhances the market expansion. The World Health Organization (WHO) predicts that by 2030, every 6th individual in the world to be 60 or older.
The public health insurance investments made by the government are helping to fuel the expansion of the global home healthcare services market. In 2019, 10.52% of Norway’s GDP was spent on the healthcare sector. In addition, the European Commission spent about USD 1062.1 billion, or roughly 8.2% of its GDP on public health in 2020. The market will continue to rise as more people are diagnosed with diseases such as diabetes, kidney, heart and dementia. For instance, by 2030, it is expected to be 643 million diabetics worldwide, and by 2045 it is predicted to be 783 million.
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Global Home Healthcare Services Market, Key Takeaways
North American region gains the largest portion of the revenue
The dialysis equipment segment to influence the revenue graph
The nursing care segment retains a sizable presence in the market
Growing Aging Population and Rising Incidence of Lifestyle Diseases to Accelerate Market Expansion
The geriatric population needs special care for their health, and since many older people are unable to travel to the hospitals or have no one to drive them there, home healthcare services are crucial. Therefore, the need for home healthcare services increases as the ageing population grows. The number of individuals 65 and over worldwide was 703 million in 2019, and the United Nations projects that number to reach 1.5 billion by the year 2050.
People are at a high risk of getting lifestyle-based disorders such as diabetes, cardiac diseases, kidney failures, high cholesterol, hypertension, and others owing to their sedentary and obese lifestyles WHO estimates that 422 million people worldwide have diabetes causing 1.5 million fatalities. In addition, 17.9 million people worldwide die from cardiovascular disorders each year, making them the leading cause of mortality.
Global Home Healthcare Services Market: Regional Synopsis
The global home healthcare services market is segmented into five major regions including North America, Europe, Asia Pacific, Latin America, …