The Home Health Care Services Gross Output in the US has shown steady growth from 2013 to 2023, rising from $76.99 billion to $111.06 billion. Year-on-year variations averaged a growth of approximately 5.23%, with the highest increases observed in earlier years and a notable slowdown in recent years. The CAGR over the last five years up to 2023 stood at around 2.81%, indicating moderate growth in this sector. The forecasted data predicts a continued increase, reaching $124.19 billion by 2028, with a forecasted 5-year CAGR of 1.74%, reflecting a more gradual upward trend.
Future trends to watch for:
- Technological advancements in home health care services, such as telemedicine and remote monitoring.- Increasing aging population requiring home health care support.- Policy changes and their impacts on funding and service provision in the healthcare sector.- The potential effect of economic fluctuations and healthcare spending shifts.- Emerging market players and innovations driving competition and efficiency in services.