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Asia Pacific Home Healthcare Market Forecast to 2028 - COVID-19 Impact and Regional Analysis By Product Type, Indication, and Service

Asia Pacific Home Healthcare Market Forecast to 2028 - COVID-19 Impact and Regional Analysis By Product Type, Indication, and Service

  • July 2021
  • 150 pages
  • ID: 6134585
  • Format: PDF
  • The Insight Partners

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The Asia Pacific home healthcare market is expected to reach US$ 146,405.13 million by 2028 from US$ 77,609.46 million in 2021; it is estimated to grow at a CAGR of 9.5% from 2021 to 2028. The growth of the market is attributed to some of the key driving factors such as increasing preference for home healthcare settings in developing nations and rising focus on telehealth. However, limited insurance coverage and patient safety concerns hinder the growth of the market to a certain extent.
The scope of home healthcare includes a wide range of healthcare services for managing illness at home.Various product launches, collaborations, and innovations by the market players are bolstering the home healthcare market growth in Asia Pacific.

At present, market players have shifted their focus on developing economies in Asia Pacific.The concept of home healthcare in countries such as India and China is still in the early growth phase.

The growth of home care settings in the developing region is broadly influenced by the factors such as the shift in the epidemiological landscape of diseases, transformation in demographic trends, preference for user-centered services, availability of new support technologies, and growing demand reconfiguration of health systems.The increasing launch of home health services in Asian countries due to the rapid spread of the COVID-19 infection offers lucrative opportunities for the market growth.

Also, health systems are adopting telehealth as a tool to extend care at homes to improve outcomes and reduce costs. This is encouraging the introduction of more portable and affordable home healthcare devices. Apart from this, increasing partnerships in service providers is further propelling the growth of the market.
The COVID-19 pandemic has been boosting the Asia Pacific home healthcare market.India is currently tackling the second of wave of the pandemic, which has further propelled the demand for home healthcare devices such as pulse oximeters and respiratory devices.

The increasing number of cases, and lack of hospital beds and medical supplies have made home care a preferred option.In addition, rising penetration of home healthcare products and service providers is supporting the market growth.

Thus, the market is expected encourage the entry of telemedicine players into home healthcare services while home healthcare players are expanding their services by adding telemedicine, diagnostics, e-pharmacy, and others in their portfolio. Also, rising support of government and insurance companies is expected to provide significant growth opportunities to the home healthcare market players in the region.
The Asia Pacific home healthcare market, by product type, is segmented into therapeutic, diagnostic, and mobility assist.The therapeutic segment held the largest share of the market in 2020.

The diagnostic segment is anticipated to register the highest CAGR in the market during the forecast period.
The Asia Pacific home healthcare market, by indication, is segmented into cancer, respiratory diseases, mobility disorders, cardiovascular disorders, pregnancy, wound care, diabetes, and other indications.The cancer segment held the largest share of the market in 2020.

However, the mobility disorders segment is anticipated to register the highest CAGR in the market during the forecast period.
The Asia Pacific home healthcare market, by service, is segmented into skilled nursing, rehabilitation therapy, hospice and palliative care, unskilled care, respiratory therapy, infusion therapy, and pregnancy care.The skilled nursing segment held the largest share of the market in 2020.

Further, the hospice and palliative care segment is anticipated to register the highest CAGR in the market during the forecast period.
A few of the primary and secondary sources associated with this report on the Asia Pacific home healthcare market are the Office for National Statistics (ONS), European Union (EU), and Scientific Institutes for Research, Hospitalization, and Care (IRCCS).

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