Albany, New York, September 14, 2018: Healthcare needs of a growing global population of elderly people is the primary driving factor behind the growth of the home care services market worldwide. Extensive availability of care facilities and a lower cost-to-care ratio than hospitals has favored well for the growth of the home care services market. The global home care services market is expected to grow at an impressive CAGR of 9.9%, and reach a market value of US$ 413,123.5 Mn through 2026. These insights are extracted from the report, titled “Global Market Study on Home Care Services: Personal Care Expected to be the Most Attractive Services Type During 2018 – 2026” incorporated recently to the huge repository of Market Research Reports Search Engine (MRRSE).
Home care services are being extensively adopted owing to increase in advanced connectivity systems, healthcare costs, the number of specialized care homes for the elderly, government support, and infrastructure for advanced care facilities. In addition, preventive care technologies for chronic health issues of the elderly has opened up related niche markets. Here, the nursing care segment continues to dominate over its counterparts, and is expected to remain so for the foreseeable future.
Europe is likely to continue its hold on the regional market share of home care services, owing to rising number of home care service providers and privately-run home service care organizations. The home care services market in North America, particularly in the U.S. is also showing significant growth with increase in government expenditure, the preference of personal care living, rising disposable incomes, and prohibitive costs of the hospital system in the region. Similarly, the home care services market in the Asia Pacific region is also expected to show a healthy rate of growth.
Home Care Services Market: Report Overview
Compilation of this report was based on robust research methodology for accurate market sizes and relevant projections about market dynamics, key trends, constraining and driving factors of the home care services market. The research methodology followed provides insights on segments including personal care, counseling, and companion care through detailed interviews conducted with leading manufacturers, subject matter experts, suppliers, distributors, and market feedback collected from leading experts in the industry.
Data analysis and projections offered in the report have been derived on the terms of absolute dollar by using proprietary research structures & statistical analyses that have been further validated by sources among industry participants. Research frameworks used in the compilation of this report include key financial ratios, market attractiveness analysis, social, political and economic factor performance, and Y-o-Y growth projections.
For validating the data acquired from comprehensive secondary researches, interactions with senior panel members, with an immense knowledge base and practical experience related to home care services, have been made use of. In addition, analysts who worked on this report have made the maximum use of existing information available, valid sources, and paid databases that are to be found in the public domain to offer accurate analysis and insights on the home care services market.
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