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Home Healthcare Market to Show Massive improvement Until 2026 with CAGR of 8.40%

The growing number of chronic diseases among the geriatric population base and rising support from the government to promote Home Healthcare are key factors fuelling the home healthcare market growth.

Escalating expenditure on healthcare and growing focus to evaluate patient care at home after surgeries will augment the market growth for home healthcare.

Further, a rise in the number of surgical procedures and increased demand for patient care at home with skilled caretakers is encouraging market players. The major companies are expanding new home health care services to cater to the emerging needs of patients. For instance, in 2019, Marken expands services for home-based clinical trials..

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The mobility care segment to register strong growth during the forecast period 2020-2026 owing to ease of use along with increasing demand for personal independence.

In addition, increasing consumer awareness, growing incidence of continuous monitoring of chronic diseases, and technological advancements includingthe Internet of Things (IoT), remote connectivity, and others to boost the market size.

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Regional trends to boost the Home Healthcare Market growth

North America to drive the home healthcare market followed by Europemainly attributed to the growing aging population who are more prone to diseases and the increasing need for requisite healthcare facilities.

North America holds the major revenue shareowing to the presence of refined medical infrastructure and high supportive initiatives by the Centers for Medicare & Medicaid Services that are enhancing the market growth further.

Accordingly, the total number of Americans ages 85 years and older will reach to about 14.1 million by2040 results to impact the market growth.

In addition, US is the leading contributor to the home healthcare market owing to an increase in the number of health related incidents among peopleis resulting in strong demand for healthcare services in the country.

Further, emerging countries such as India and China are to be the fastest growing countries in the Asian region. Recently, Philips launches Healthcare at home services in Chennai with the ICU at home to offer intensive care unit equipment and high-quality medical care at home for patients.

Whereas Europe is the second largest market for the home healthcare market, expansion owing to support from government & private sectors for well-developed technologies and R&D activities.

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Strategic agreements and expanding home healthcare servicesacross key market players to trigger the market growth

key players in theHome Healthcare Market are engaged in expanding services, launching innovative equipments, productswith advanced technologies to expand their product lines and business operations.

For instance, in 2020, ISWH sharply expanded home healthcare operations to meet escalating coronavirus needs.

Further, in 2020, Reliq Health Technologiesprovides its software and call center support to a sizable home healthcare network.

Additionally, in 2020, Nye Health Services provides a complete continuum of healthcare services for people seeking independent and assisted living.

Moreover, in 2020, Aster DM Healthcare FZC, executed the acquisition of Wahat Al Aman Home. In addition, The Pennant Group Inc. and San Diego-based Scripps Health company to form a home health joint venture in 2020.

Key players of the Home Healthcare Market include Philips Healthcare, Kindred Healthcare, Linde Group, Almost Family Inc., Abbott Laboratories, LHC Group, A&D, Amedisys, Fresenius, Omron, McKesson, BAYADA Home Health Care, Kinnser Software, Inc., and Roche among others.

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