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 share, size, 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.
In-home care services, alternatively known as home care or home health care, encompass a variety of supportive services delivered to individuals within the familiarity of their residences. Geared towards aiding with daily activities and enhancing the overall quality of life, these services are especially beneficial for those grappling with challenges brought about by aging, illness, or disability. Tailored to the unique needs of each person, they ensure personalized care and support. Compared to institutionalized options like nursing homes or assisted living facilities, home care services prove to be a more cost-effective alternative. By providing assistance with tasks such as bathing, dressing, meal preparation, and medication management, these services enable individuals to preserve their independence while remaining in a familiar setting. Additionally, they contribute to emotional well-being, stress reduction, and an overall heightened sense of comfort and security for the recipients.
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Global Home Care Market and Drivers:
The increasing number of elderly individuals in need of assistance with daily activities is a significant factor contributing to a positive market outlook. Additionally, there is a growing preference among many individuals for receiving medical care within the comfort of their homes rather than in institutionalized settings. This inclination is driven by the desire to maintain familiar surroundings and a sense of independence, thus fostering market expansion. Furthermore, advancements in medical technology now enable the provision of complex medical treatments and monitoring in a home setting, broadening the scope of home care services to include specialized medical care. Recognizing the potential for cost savings, healthcare systems and insurers are increasingly endorsing home-based care, alleviating the financial burden associated with expensive healthcare facilities. Moreover, the rising demand for telehealth and remote monitoring technologies, facilitating the remote tracking of vital signs, virtual consultations, and adjustments to treatment plans, is further fueling market growth.
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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