$ 68.6 Billion Pediatric Home Care Market Size by 2028: Grand View Research, Inc.
SAN FRANCISCO, June 9, 2021 / PRNewswire / – The World pediatric home care market size is expected reach $ 68.6 billion by 2028, according to a new report from Grand View Research, Inc. The market is expected to increase at a CAGR of 7.8% from 2021 to 2028. Growing population of children with medical complexities (CMC) requiring home care is expected to drive the market during the forecast period.
Main suggestions from the report:
- Premature infants can suffer from many disorders that require rehabilitation therapy to improve motor functions
- The high likelihood of premature infants suffering from neurological and muscle deficits is expected to drive demand for rehabilitation therapy services during the forecast period
- Children with physical and neurological development deficits require care in a comfortable and convenient environment
- The personal care services offered by home care providers are a relief for the working parents of these children. The personal care assistance segment is expected to grow due to an increase in demand for long-term health services for infants with complex heart, neurological and respiratory conditions.
- North America held the largest share of revenue in 2020. Favorable reimbursement policies in the United States, where the majority of pediatric care services are covered by Medicaid, are positively stimulating the market
- The main players in the market have undertaken many initiatives to improve the pediatric services offered for home care. For example, in September 2017, doForms, a provider of workflow automation software, collaborated with BAYADA Home Health Care to launch BAYADA Pediatrics Care Connect, an electronic documentation system that maintains a record of clinical information
Read the 104-page research report with table of contents on “Pediatric Home Health Care Market Size, Share and Trend Analysis Report by Department (Skilled Nursing Services, Personal Care Assistance) , Rehabilitation Therapy Services), By Region and Segment Forecast, 2021 – 2028 âat: https://www.grandviewresearch.com/industry-analysis/pediatric-home-healthcare-market
According to a study conducted in October 2016, approximately 1.0% of the pediatric population constitutes CMC in the United States. This population represents almost 30.0% of the cost of pediatric health care. Home pediatric services dramatically reduce medical expenses by shortening hospital stays for children requiring complex medical assistance.
The pediatric care service is a thriving sector of the home health industry and offers immense potential for players to expand their services. One of the major market players, BAYADA Home Health Care, mentioned pediatric nursing services as its main revenue-generating specialty, accounting for around a third of its revenue.
In addition, the spread of the COVID-19 pandemic is dramatically increasing the demand for home care services for children with several chronic conditions. However, as doctor visits were limited during the pandemic, the home care agency introduced virtual visits for patient care. For example, in december 2020, St. Mary’s Home Care – a home care agency in new York launched a virtual services platform for patient engagement.
Grand View Research has segmented the global pediatric home care market on the basis of service and region:
- Pediatric Home Health Care Services Outlook (Revenue, USD Million, 2016 – 2028)
- Qualified nursing services
- Personal care assistance
- Rehabilitation therapy services
- Regional Pediatric Home Care Outlook (Revenue, USD Million, 2016 – 2028)
- North America
- Asia Pacific
- Latin America
- Middle East & Africa (AEM)
- South Africa
- Saudi Arabia
List of key players in the pediatric home healthcare market
- Aveanna Healthcare, Inc.
- DJK Home Health LLC
- BAYADA home care
- Tendercare Home Care
- BrightStar treatments
- Angels of Care Pediatric Home Care
- New England Home Care, Inc.
- Pediatric home care
- Enviva pediatric care
- Interim Health Care Inc.
- MGA home care
- Home Care
Find more research reports on Medical device industry, by Grand View Research:
- Home Care Market–The size of the global home healthcare market has been estimated to be $ 281.8 billion in 2019 and is expected to grow at a compound annual growth rate (CAGR) of 7.9% from 2020 to 2027.
- North America Home Health Care Market–the North America the size of the home care market has been estimated to be $ 756.8 million in 2014 and is expected to grow at a rate of 10.9% over the forecast period. The growing base of the geriatric population, triggering the incidence rate of target diseases, and the growing need to reduce healthcare spending as an economically viable initiative are high impact rendering drivers of this market.
- Indian Home Health Care Market–the India the size of the home care market has been estimated to be $ 5.2 billion in 2019 and is expected to grow at a compound annual growth rate (CAGR) of 19.2% from 2020 to 2027.
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About Grand View Research
Grand View Research, a United States-based market research and consulting company, provides syndicated and personalized research reports and consulting services. Checked in California and headquartered at San Francisco, the company has more than 425 analysts and consultants, adding more than 1,200 market research reports to its extensive database each year. These reports provide in-depth analysis of 46 industries in 25 major countries around the world. Using an interactive market intelligence platform, Grand View Research helps Fortune 500 companies and renowned academic institutes understand the global and regional business environment and assess upcoming opportunities.
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