Global Home Care Market Overview 2023-2028
IMARC Group, a leading market research company, has recently releases report titled “Home Care Market: Global Industry Trends, Share, Size, Growth, Opportunity and Forecast 2023-2028.” The study provides a detailed analysis of the industry, including the global home care market size, share, trends, and growth forecasts. The report also includes competitor and regional analysis and highlights the latest advancements in the market.
The global home care market size reached US$ 150.8 Billion in 2022. Looking forward, IMARC Group expects the market to reach US$ 195.8 Billion by 2028, exhibiting a growth rate (CAGR) of 4.28% during 2023-2028.
Home care services, also known as in-home care or home health care, refer to a range of supportive services provided to individuals in the comfort of their own homes. These services are designed to assist people with activities of daily living (ADLs) and improve their overall quality of life, particularly when they face challenges due to aging, illness, or disability. They are tailored to meet the specific needs of each individual, ensuring that they receive the care and support that best suits their unique circumstances. They are cost-effective as compared to institutionalized care options, such as nursing homes or assisted living facilities. They allow individuals to maintain their independence by receiving assistance with tasks like bathing, dressing, meal preparation, and medication management, all while remaining in their familiar environment. These services also promote emotional well-being, reduce stress, and enhance the overall comfort and sense of security among patients.
Global Home Care Market and Drivers:
The growing geriatric population, requiring assistance with daily living activities, represents one of the key factors offering a favorable market outlook. Besides this, many individuals are preferring medical care in the comfort of their own homes rather than in institutionalized settings. This preference is fueled by the desire to maintain familiar surroundings and a sense of independence, which is propelling the growth of the market. Moreover, advancements in medical technology are making it possible to provide complex medical treatments and monitoring in a home setting. This is expanding the scope of home care services beyond basic assistance with daily tasks to include specialized medical care. In addition, healthcare systems and insurers are recognizing the cost-saving potential of home-based care, which can reduce the burden of expensive healthcare facilities. Apart from this, the increasing demand for telehealth and remote monitoring technologies to remotely monitor vital signs of the patient, offering virtual consultations, and adjusting treatment plans as needed is bolstering the market growth.
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Global Home Care Market 2023-2028 Analysis and Segmentation:
Top Key Players covered in this report are:
Alicorp SAA, Church & Dwight Co. Inc., Henkel AG & Co. KGaA, Kao Corporation, Reckitt Benckiser Group PLC, S.C. Johnson & Son Inc., The Clorox Company, The Procter & Gamble Company and Unilever plc.
The report segmented the market on the basis of region, product type and distribution channel.
Breakup by Product Type:
- Kitchen Care
- Household Care
- Bathroom Care
- Laundry Care
- Others
Breakup by Distribution Channel:
- Supermarkets and Hypermarkets
- Convenience Stores
- Online Stores
- Others
Breakup by Region:
- North America: (United States, Canada)
- Asia Pacific: (China, Japan, India, South Korea, Australia, Indonesia, Others)
- Europe: (Germany, France, United Kingdom, Italy, Spain, Russia, Others)
- Latin America: (Brazil, Mexico, Others)
- Middle East and Africa
Key highlights of the report:
- Market Performance (2017-2022)
- Market Outlook (2023- 2028)
- Porter’s Five Forces Analysis
- Market Drivers and Success Factors
- SWOT Analysis
- Value Chain
- Comprehensive Mapping of the Competitive Landscape
If you need specific information that is not currently within the scope of the report, we can provide it to you as a part of the customization.
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