U.S. Home Healthcare Market Growing Demand for in-Home Healthcare Services

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Home healthcare services offer convenient medical care and assistance at patients’ homes, reducing the need for hospital visits. These services range from skilled nursing care and intravenous therapy to physiotherapy and assistance with daily living activities. The growing geriatric population prone to chronic diseases and disabilities has increased demand for such in-home services. Home health aides help seniors live independently and safely at home. The U.S. home healthcare market also benefits from the preference for cost-effective out-of-hospital care and government initiatives to shift the healthcare delivery model from institutions to homes. The  U.S. Home Healthcare Market is estimated to be valued at US$ 23.53 billion in 2023 and is expected to exhibit a CAGR of 15% over the forecast period 2023 to 2030, as highlighted in a new report published by Coherent Market Insights.


Market key trends
Telehealth adoption accelerate market growth
With advancements in telecommunication technologies, home healthcare providers are increasingly adopting telehealth solutions to remotely monitor patients and enhance the quality of care. Telehealth involves utilizing digital technologies like wearable medical devices, video chat software, and remote patient monitoring systems to provide medical services from a distance. During the pandemic, telehealth emerged as a viable alternative to in-person visits, enabling the continuity of care. Its widespread acceptance is set to drive further growth in the home healthcare market. The application of telehealth ensures regular checks on vital signs, medication adherence, and timely medical intervention. This trend allows for more efficient management of chronic illnesses and reduces hospital readmissions.

Segment Analysis
The U.S. home healthcare market size is segmented into services and software & technology. Among these, the services segment dominates the market as people are increasingly preferring home health care for convenience and cost-effectiveness. Specifically, skilled nursing services is the largest sub-segment since it provides specialized care to patients through licensed nurses and therapists.

Key Takeaways
The  U.S. home healthcare market is expected to witness high growth.

Regional analysis related content comprises the western region currently dominate the U.S. home healthcare market due to high population of elderly people residing in states such as California who preferring home healthcare services for convenience.

Key players related content comprises Key players operating in the U.S. home healthcare market are Aetna, AmeriHealth, Lynn Community Health Center, CHAS Health, Cigna, Siemens Healthcare GmbH, NextGen Healthcare, Athena Healthcare, NextStep Solutions, and Genpact Limited. These players are focusing on various organic and inorganic growth strategies such as acquisitions, partnerships, product launches and expansions to garner market share. For instance, in 2022, Aetna launched new digital health and wellness solutions to support customer health journeys.

Get more insights on this topic: https://www.newsstatix.com/u-s-home-healthcare-market-share-and-opportunity-analysis/

 


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