North America Home Healthcare Market

North America Home Healthcare Market Size

The North American home healthcare market size was valued at USD 119.4 billion in 2023. The North American market is further expected to reach USD 257.2 billion by 2032 from USD 130.03 billion in 2024, growing at a compound annual growth rate (CAGR) of 8.9% during the forecast period.

MARKET DRIVERS

The growing prevalence of chronic diseases such as cancer, diabetes and aging demographics in North America are majorly fuelling the home healthcare market growth in North America. Favorable government policies towards home healthcare services and rising investments in home healthcare equipment are boosting the home healthcare market growth in North America. Easy availability and increasing preference for home healthcare services due to the growing disposable income of individuals in the North American region further promote the growth of the North American home healthcare market. On the other hand, increasing awareness among people about the benefits of home healthcare is positively favoring North American market growth. In addition, value-based healthcare is another major factor contributing to the regional market growth. The most recent significant healthcare trend is the transfer of treatment from hospitals to homes to save money and minimize medical costs. The move from treatment to proactive monitoring also opens new opportunities for the North American home healthcare market. 

The home healthcare market in North America has lucrative growth opportunities for the market players in the developed countries of the region. The growing geriatric population is significantly contributing to the North American market. The regional market growth is also fuelled by the aging population in North America and rising patient demand for value-based healthcare. By 2050, the population of the elderly is expected to be doubled. Furthermore, the increase in training institutes to enable abilities to provide effective treatment methods is escalating the North American market's demand. Medicare is the largest single-payer of home healthcare services in the United States. Medicare contributes to more than 40% of all home healthcare costs.

MARKET RESTRAINTS

However, the lack of skilled persons to manage the techniques is quietly restraining the demand of the regional market. In addition, cuts in Medicare payments to home health companies and concerns about the safety of home healthcare employees are expected to restrict the growth of the North American home healthcare market.

REGIONAL ANALYSIS

The U.S. home healthcare market is predicted to account for the most significant share of the North American market during the forecast period and is growing at 7% CAGR during the forecast period. The United States market is driven by chronic disease, the aged population, and increasing obesity. In addition, the US market is dominated by Medicaid; it has a 40% share in the US market. In 2019, the US home healthcare market had the highest growth in the BP monitor and diabetic care unit. Also, the rapidly growing surgeries and rising personal care treatment system in the US is ramping up the North American market. Recently, the US Food and Drug Administration's initiative to promote independent treatment has been driving the market in the coming year. Value-based healthcare is a contributing factor in the US market due to its low cost and patient improvement.

The Canadian home healthcare market is one of the most lucrative regional markets in the global market. The market in this country has represented growth in medical devices and services that provide safety to the patient. Due to the illness of chronic disorder, Canada has continued growth in the home healthcare market. Also, increasing technological development, changing lifestyles, and using alternatives instead of long-term hospital treatments demand home healthcare services. Canada was the hub of the home medical devices market in 2019. The Government of Canada has started conducting awareness programs related to Hypertension, diabetes, and schizophrenia in a nod to the medical and monitoring devices market.

Mexico is anticipated to grow in the coming years due to government regulations and advancements in North America's home healthcare market.

KEY MARKET PARTICIPANTS

Some of the prominent companies leading the North American home healthcare market profiled in the report are Almost Family Inc., Amedisys Inc., General Electric CompaG.E. (G.E.), Kinnser Software Inc., Linde Group, Omron Corporation, Roche Holding AG, Philips Healthcare, Mckesson Corporation, LHC Group Inc., Kindred Healthcare, Fresenius Se & Co Kgaa, Abbott Laboratories, and Apria Healthcare Group.

MARKET SEGMENTATION

This research report on the North American home healthcare market has been segmented and sub-segmented into the following categories.

By Product Type

• Testing, Screening, & Monitoring Products
• Therapeutic Products   
• Mobility Care Products

By Type

• Home Telehealth Monitoring Devices       
• Home Telehealth Services
• Home Telehealth Software    

By Services Type

• Rehabilitation Therapy Services   
• Infusion Therapy Services
• Unskilled Care Services    
• Respiratory Therapy Services        
• Pregnancy Care Services 
• Skilled Nursing Care Services         
• Hospice  
• Palliative Care Services 

By Software

• Agency Software 
• Clinical Management Systems       
• Hospice Solutions

By Country

• The U.S.
• Canada
• Mexico
• Rest of North America