The Medical Home Services Market is anticipated to expand its roots at a steady CAGR of 8.3% between 2023 and 2033. The market is expected to have a market share of US$ 605.5 billion by 2033, while it is likely to be valued at US$ 271.9 billion in 2023
- The surging chronic diseases, geriatric population, and increased lifestyle-based diseases are expected to flourish in the market. Furthermore, the advanced systems delivering all sorts of services, diagnoses, and treatments at home are also helping the sector expand its roots.
- The benefits of medical home care services include better independence, relief for family caregivers, and lesser trips to the hospital are garnering market growth. Along with this, better monitoring, anytime treatment, and improved care are some factors that pushed end users to adopt these services.
- Patients having long-term conditions that demand constant support and care while being monitored for the drug and treatment response gains traction in the market. Hence, the rise in patients is expected to propel the market growth.
- The new internet applications delivering medical home services with different packages and support options are likely to garner market growth. Moreover, the home care systems, through advanced healthcare research, have made people rely more on machines. This has limited staff needed for the medical home services.
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Key Points:
- The United States market leads the medical home services market in terms of market share in North America. The United States region held a market share of 45.5% in 2022. The growth in this region is attributed to several chronic patients, enhanced lifestyle, due to increasing per capita income, and world-class healthcare services. The North American region held a market share of 51.1% in 2022.
- The German market is another important market in the European region. The market thrived at a CAGR of 5.1% between 2023 and 2033. The growth is attributed to government healthcare policies and higher consumption. The European Region held a market share of 22% in 2022.
- The Indian medical home Services market thrives at a CAGR of 9.7% between 2023 and 2033. The growth is attributed to rising per capita income, geriatric population, and rising heart diseases.
- Based on service type, the nursing segment leads the market as it held a share of 37.58% in 2022.
- Based on the specialty type, the hourly care segment leads the market, as it held a market share of 45.18% in 2022.
- Based on the end user, the geriatric population segment leads the market as it held a market share of 45.5% in 2022.
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Competitive Landscape:
The key vendors focus on providing all-in-one care packages. These packages involve progress reporting, monitoring, treatment, and medication. Key competitors and also merge, acquire, and partner with other companies to increase their supply chain and distribution channel.
Recent Market Developments:
- CHAS Health has received the award for advancing the hit for quality from health resources and services administration. The company has constantly delivered home medical services. CHAS Health’s primary clinic has been recognized as an NCQA PCMH at the highest level possible
Key Players:
- CHAS health
- AmeriHealth
- Cigna
- Aetna
- Lynn Community Health Center
Key Segments Covered:
By End User:
- Hospitals
- Clinics
- Ambulatory Surgical Centers
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Key Regions Covered:
- North America
- United States
- Canada
- Latin America
- Brazil
- Mexico
- Rest of Latin America
- Europe
- Germany
- United Kingdom
- France
- Spain
- Russia
- Rest of Europe
- Japan
- Asia Pacific Excluding Japan
- China
- India
- Malaysia
- Singapore
- Australia
- Rest of Asia Pacific Excluding Japan (APEJ)
- The Middle East and Africa
- GCC Countries
- Israel
- South Africa
- Middle East and Africa (MEA)
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Future Market Insights, Inc. (ESOMAR certified, Stevie Award – recipient market research organization and a member of Greater New York Chamber of Commerce) provides in-depth insights into governing factors elevating the demand in the market. It discloses opportunities that will favor the market growth in various segments on the basis of Source, Application, Sales Channel and End Use over the next 10-years.
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