Home Health Care And Residential Nursing Care Services Market - By Type (Home Health Care Providers, Retirement Communities, Nursing Care Facilities, Orphanages And Group Homes) By End User Gender (Female Nursing Care, Male Nursing Care) By Type Of Expenditure (Public Expenditure, Private Expenditure) And By Region, Opportunities And Strategies – Global Forecast To 2030

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Home Health Care And Residential Nursing Care Services Market Definition

The home health care and residential nursing care services market consists of the sales of these services and related goods by entities (organizations, sole traders, and partnerships) that provide home health care and residential nursing care. This industry includes establishments that provide home healthcare services, nursing care facility services, personal services, counselling services, vocational therapies, rest home services, social services, and nutritional services.

Home health care is defined as a form of supportive care provided by a professional caregiver in an individual home where the patient is residing. These types of services often include help with daily activities such as dressing and bathing the patient, assistance with daily tasks, companionship, therapy, and rehabilitative services and short-term or long-term disease management at home.

Home Health Care And Residential Nursing Care Services Market Size

The global home health care and residential nursing care services market reached a value of nearly $957,556.6 million in 2020, having increased at a compound annual growth rate (CAGR) of 2.2% since 2015.  The market is expected to grow from $957,556.6 million in 2020 to $1,273,615.3 million in 2025 at a rate of 5.9%. The market is expected to grow from $1,273,615.3 million in 2025 to $1,625,929.5 million in 2030 at a CAGR of 5.0%.  

Growth in the nursing care market in the historic period resulted from the rapid growth in the size of the elderly population, strong economic growth in emerging markets, changes in social patterns, and health insurance reforms. Factors that negatively affected growth in the historic period were low healthcare access in some countries, shortages of skilled human resources, lack of insurance coverage and weak wage growth in developed economies.

Home Health Care And Residential Nursing Care Services Market Drivers

The key drivers of the home health care and residential nursing care services market include:

Increasing Health Care Access

Home Health Care And Residential Nursing Care Services Market Restraints

The key restraints on the home health care and residential nursing care services market include:

Insufficient Public Health Insurance Coverage

During the forecast period, inadequate health provision is expected to be a major barrier for the growth of the home health care and residential nursing care services industry in the forecast period. Lack of public health insurance coverage, especially in developing countries, restricts access to healthcare for many people. According to the WHO and the World Bank, 400 million people globally do not have access to essential health services, and 6% of people in low and middle-income countries pushed further into extreme poverty because of low healthcare expenditure.  Inadequate pubic health insurance schemes in developing economies are expected to be a major restraint on the home health care and residential nursing care services market.

Home Health Care And Residential Nursing Care Services Market Trends

Major trends influencing the home health care and residential nursing care services market include:

Electronic Visitor Verification To Curb Fraud

Both public and private home health care providers are adopting electronic visitor verification technologies to track time and curb fraud by health care professionals. Nursing care providers are using electronic means such as telephone calls and GPS tracking to locate and validate the presence of health care professional in the facility. For instance, Axxess uses combination of GPS cellular and Wi-Fi technology and records the date, time and location of home care visitor using cloud technology.

Resident-Oriented Care

Nursing homes are changing the way care is offered to the patients. They are shifting from institutional or hospital style of management to resident-centered care management. In institutional-style nursing homes, the focus is on task-centered approaches including monitoring of physical health of the patients. In resident-oriented care, residents can choose their own schedule and design their own daily routine. St. Camillus Health Center in the US is providing resident-oriented care for their patients.  

Opportunities And Recommendations In The Home Health Care And Residential Nursing Care Services Market

Opportunities –The top opportunities in the home health care and residential nursing care services market segmented by type will arise in the nursing care facilities segment, which will gain $139,328.7 million of global annual sales by 2025.The top opportunities in the home health care and residential nursing care services market segmented by end-user gender will arise in the male segment, which will gain $ 164,650.3 million of global annual sales by 2025. The home health care and residential nursing care services market size will gain the most in the USA at $58,968.8 million.

Recommendations-To take advantage of these opportunities, The Business Research Company recommends home health care and residential nursing care services to focus on adopting big data analytics and telehealth to continuously monitor patient’s health and provide proper care at remote locations, expand in emerging markets to gain market share, offer competitive pricing, expand in countries with growing geriatric population, increase visibility through website and collaborate with healthcare centers among other strategies.

Home Health Care And Residential Nursing Care Services Market Segmentation

The home health care and residential nursing care services market is segmented by type, by end user gender, by type of expenditure and by geography.
By Type-
The home health care and residential nursing care services market is segmented by type into
    • a) Home Health Care Providers
    • b) Retirement Communities
    • c) Nursing Care Facilities
    • d) Orphanages & Group Homes
The nursing care facilities market was the largest segment of the home health care and residential nursing care services market segmented by type, accounting for 43.6% of the total in 2020. Going forward, the home health care providers segment is expected to be the fastest growing segment in the home health care and residential nursing care services market, at a CAGR of 6.2% during 2020-2025. The visiting nurses market was the largest segment of the home health care services market segmented by type, accounting for 59.8% of the total in 2020. Going forward, the in-home hospice care services segment is expected to be the fastest growing segment in the home health care services market, at a CAGR of 7.0%. The continuing care retirement communities market was the largest segment of the retirement communities market segmented by type, accounting for 47.9% of the total in 2020. Going forward, the assisted living facilities for the elderly without nursing care segment is expected to be the fastest growing segment in the retirement communities market, at a CAGR of 7.8%.
By End User Gender –
The home health care and residential nursing care services market is segmented by end user gender into
    • a) Female Nursing Care
    • b) Male Nursing Care
The male market was the largest segment of the home health care and residential nursing care services market segmented by end-user gender, accounting for 53.1% of the total in 2020. Going forward, the female segment is expected to be the fastest growing segment in the home health care and residential nursing care services market, at a CAGR of 6.0% during 2020-2025.
By Type Of Expenditure –
The home health care and residential nursing care services market is segmented by type of expenditure into
    • a) Public Expenditure
    • b) Private Expenditure
The public expenditure market was the largest segment of the home health care and residential nursing care services market segmented by type of expenditure, accounting for 56.8% of the total in 2020. Going forward, the public expenditure segment is expected to be the fastest growing segment in the home health care and residential nursing care services market, at a CAGR of 6.5% during 2020-2025.
By Geography -The home health care and residential nursing care services market is segmented by geography into
    • o North America
      • • USA
      • • Canada
      • • Mexico
    • o Western Europe,
      • • UK
      • • Germany
      • • France
      • • Italy
      • • Spain
      • • Austria
      • • Belgium
      • • Denmark
      • • Finland
      • • Ireland
      • • Netherlands
      • • Norway
      • • Portugal
      • • Sweden
      • • Switzerland
      o Asia Pacific
      • • China
      • • India
      • • Japan
      • • Australia
      • • Indonesia
      • • South Korea
      • • Hong Kong
      • • Malaysia
      • • New Zealand
      • • Philippines
      • • Singapore
      • • Thailand
      • • Vietnam
      o Eastern Europe
      • • Russia
      • • Czech Republic
      • • Poland
      • • Romania
      o South America
      • • Brazil
      • • Argentina
      • • Chile
      • • Colombia
      • • Peru
      • • Venezuela
      o Middle East
      • • Israel
      • • Saudi Arabia
      • • Turkey
      • • UAE
      o Africa
      • • Egypt
      • • Nigeria
      • • South Africa
Western Europe was the largest region in the global home health care and residential nursing care services market, accounting for 43.1% of the total in 2020. It was followed by North America, Asia-Pacific and then the other regions. Going forward, the fastest-growing regions in the home health care and residential nursing care services market will be the South America and Africa, where growth will be at CAGRs of 10.8% and 10.1% respectively during 2020-2025. These will be followed by Middle East and Asia Pacific, where the markets are expected to grow at CAGRs of 8.7% and 8.0% respectively.

Home Health Care And Residential Nursing Care Services Competitive Landscape

Major Competitors In The Home Health Care And Residential Nursing Care Services Market Are:

  • Nichiigakkan Co., Ltd.
  • RIEI Co.,Ltd.
  • Bupa
  • Regis Healthcare
  • Japara Healthcare Ltd.
  • Other Competitors In The Home Health Care And Residential Nursing Care Services Market Include:

  • Medical Care Service Company Inc.
  • McKenzie Aged Care Group
  • FB Care Serviices Co, Ltd.
  • Longlife Holding Co Ltd
  • China Medical HealthCare Group Limited.
  • Home Instead Senior Care
  • Apollo Hospital
  • PineTree
  • Columbia Asia
  • Sompo Holdings Inc
  • Tetsuyu Home Care
  • MCG Group
  • Poppy Nursing and Care Services Ltd
  • Care at Home Services
  • Westminster Homecare
  • Cera Care
  • Mears Care
  • Angels Nursing Care
  • Costa Blanca Care Agency and Consultus Care
  • BAYADA Germany
  • Manorcourt Homecare
  • Able Community Care Ltd
  • Bupa Home Healthcare
  • Care UK
  • Helping Hands Home Care
  • Saga Healthcare
  • The Good Care Group
  • Allied Healthcare
  • Ark Home Healthcare
  • Home Care Promedica
  • The Orpéa Group
  • SeneCura Group
  • Senior Group
  • Kalyna Care
  • myNEXUS, Inc.
  • Angels of Care
  • All Care Home Nursing Services
  • Nursing Solutions
  • Mission Medstaff
  • Addus HomeCare Corporation
  • A Plus Health Care, Inc
  • Nurse Next Door Professional Homecare Services Inc.
  • ParaMed Home Health Care
  • Bayshore and CBI Health Group Inc.
  • Extendicare
  • Kindred Healthcare
  • LHC Group
  • Amedisys
  • Almost Family
  • Encompass Home Health
  • Trinity Health, Interim Healthcare
  • Mexicos’ Ambercare
  • Basin Home Health and Hospice
  • Exceptional Living Center of Brazil
  • Senior Helpers
  • Comfort Keepers
  • Visiting Angels
  • Salam Medical
  • Ruaa Home Healthcare
  • Bayti Home Health
  • Miracle Home Health Care
  • Emirates Home Nursing Healthcare
  • Abundant Life Palliative Care Victoria Hospital
  • Breede River Hospice
  • Gauteng Centre of Excellence for Palliative Care
  • Highway Hospice
  • Knysna Sedgefield Hospice
  • Wellcare Home Medicals
  • Greymate Care
  • Blue Torch Home Care Limited
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