Top 8 Companies in the Home Healthcare Market

The global home healthcare market attained a value of USD 307 billion in 2023. The market is anticipated to grow at a CAGR of 8.26% during the forecast period of 2024-2032 to attain a value of USD 627.2 billion by 2032. The market growth is driven by the increasing incidence of chronic diseases across the globe.

Home health care is created to assist patients in resting, recuperating, and getting treatment while being in the comfort of their own residence or home. Home healthcare services aim to assist patients in gaining independence and self-sufficiency while managing their illness or condition. It can be advantageous for various acute and chronic conditions, such as Alzheimer's disease, chronic kidney disease, chronic obstructive pulmonary disease (COPD), diabetes, and heart disease, as well as recovery from illness or surgery, chronic conditions or injuries.

To improve health equity for all individuals in the United States, the FDA is introducing a new program, Home as a Health Care Hub. The FDA's CDRH has partnered with an architectural firm specializing in health and equity-oriented buildings to address diverse home models, providing flexible solutions that can grow and change in size and complexity.

The growing elderly population is fuelling the demand for at-home healthcare products, leading to an increase in the market value. The increasing occurrence of chronic illnesses such as diabetes and heart conditions is driving the need for at-home monitoring and treatment tools. The accessibility of portable and user-friendly medical devices has also increased due to technological advancements, and the cost-effectiveness of home care compared to hospital treatment. Moreover, the market's growth is further fuelled by the increasing trend of patients opting for home care, which has been emphasized during the COVID-19 crisis.

The home healthcare product market is limited by barriers like expensive advanced medical equipment that may restrict access for certain patients. Navigating through different regulations and standards in various regions can make it challenging to enter the market and get products approved. Furthermore, concerns arise regarding data security and privacy within telehealth solutions. Insufficient training for patients and caregivers on new technologies can also impede effective utilization.

Top Companies Leading the Home Healthcare Market in 2024

Becton Dickinson and Company

Becton Dickinson and Company (BD) is an international company focused on medical technology, offering various medical devices, instrument systems, and reagents. BD provides home healthcare options like the BD Veritor™ Plus System, a quick diagnostic tool for testing at home, improving patient comfort and detecting diseases early. This technology helps users take care of their health at home by providing reliable and user-friendly support.

Fresenius Medical Care

Fresenius Medical Care is a prominent worldwide provider of dialysis products and services with a primary focus on enhancing patient care in the field of nephrology. Their healthcare options for home healthcare include the 4008S and 5008S dialysis machines , specially made for home hemodialysis. These machines provide cutting-edge functions to ensure patient safety and comfort, allowing for successful home management of chronic kidney disease.

Medtronic Plc.

Medtronic Plc is a medical technology company that specializes in various products and treatments. Their range of home healthcare services features the Medtronic MiniMed insulin pumps for managing diabetes, offering continuous monitoring of glucose levels, and delivering insulin to improve patient convenience and management of the condition. This technology enhances diabetes care at home, leading to better patient results and quality of life.

3M Company

3M Company is a widely diverse multinational technology company recognized for its creative solutions in multiple sectors. 3M provides products such as the 3M Littmann® stethoscopes and 3M Tegaderm™ dressings for use in home care settings within the home healthcare industry. These items improve the monitoring of patients and the care of wounds, offering dependable and easy-to-use options for taking care of health in a home setting.

Abbott Laboratories

Abbott Laboratories is recognized for its diverse array of medical devices, diagnostics, and nutrition products. Abbott provides products like the FreeStyle Libre ® system for diabetes care in the field of in-home healthcare. This technology enables individuals with diabetes to track their glucose levels easily and accurately from the comfort of their own homes, enhancing their diabetes management and overall quality of life.

B Braun Melsungen AG

B. Braun Melsungen AG is a medical equipment company that focuses on diverse healthcare solutions. The company boasts numerous home healthcare products like Infusomat Space infusion pump, specifically created for the purpose of providing secure and effective home-based infusion therapies. This device allows patients to get accurate medication at their homes, improving the convenience and effectiveness of treatment.

GE HealthCare

GE HealthCare is a well-known worldwide supplier of medical technologies and services. In the field of home healthcare, GE HealthCare provides the CARESCAPE™ V100 Vital Signs Monitor, enabling patients to track their blood pressure and heart rate from the comfort of their homes. This tool aids in managing chronic diseases effectively and improves patient care through the provision of up-to-date health information.

Koninklijke Philips N.V.

Philips is a leading global company in health technology, offering advanced solutions in diverse medical sectors. It provides items such as the Philips DreamStation CPAP machine, which is specifically created for sleep apnea therapy and aims to deliver successful and cozy treatment in a home setting. This tool improves patient compliance and control of sleep issues through advanced functions and user-friendly design.