Medical Home Services Market is projected to exhibit CAGR of 8.3%, at an estimated worth of US$ 605.5 Billion by forecast 2033 end | Future Market Insights, Inc.
During the forecast period, Europe is expected to secure the second position in terms of market size in the medical home services market, accounting for approximately 28.5% of the market share. The region's focus on personalized care, particularly for individuals managing chronic conditions and long-term illnesses, is poised to generate new opportunities within the market
NEWARK, Del, July 04, 2023 (GLOBE NEWSWIRE) -- 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.
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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.
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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.
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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.
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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.
Drivers and Challenges have an Impact on Market Dynamics, which can Impact Businesses. Find more details in our Sample Report: https://www.futuremarketinsights.com/reports/sample/rep-gb-5449
Key Pointers:
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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.
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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.
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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.
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Based on service type, the nursing segment leads the market as it held a share of 37.58% in 2022.
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Based on the specialty type, the hourly care segment leads the market, as it held a market share of 45.18% in 2022.
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Based on the end user, the geriatric population segment leads the market as it held a market share of 45.5% in 2022.