Pediatric Home Healthcare Market Size Worth $68.6 Billion By 2028: Grand View Research, Inc.
SAN FRANCISCO, June 9, 2021 /PRNewswire/ — The global pediatric home healthcare market size is expected to reach USD 68.6 billion by 2028, according to a new report by Grand View Research, Inc. The market is expected to expand at a CAGR of 7.8% from 2021 to 2028. The growing population of Children with Medical Complexities (CMC) requiring in-home care is expected to drive the market during the forecast period.
Key suggestions from the report:
- Premature infants may suffer from numerous disorders that require rehabilitation therapy to improve motor functions
- High probability of premature infants living with neurological and muscular deficits is expected to boost demand for rehabilitation therapy services during the forecast period
- Children with physical and neurological development deficits require care in a comfortable and convenient environment
- Personal care services offered by in-home care providers are a relief for working parents of such kids. The personal care assistance segment is expected to grow due to an increase in demand for long-term healthcare services for infants with complex cardiac, neurological, and respiratory disorders
- North America held the largest revenue share in 2020. Favorable reimbursement policies in the U.S., wherein the majority of pediatric care services are covered under Medicaid is positively driving the market
- Major players in the market have undertaken numerous initiatives to enhance pediatric services offered for in-home care. For instance, in September 2017, doForms-a workflow automation software provider-collaborated with BAYADA Home Health Care to launch BAYADA Pediatrics Care Connect-an electronic documentation system that keeps a record of clinical information
Read 104 page research report with ToC on “Pediatric Home Healthcare Market Size, Share & Trends Analysis Report By Service (Skilled Nursing Services, Personal Care Assistance, Rehabilitation Therapy Services), By Region, And Segment Forecasts, 2021 – 2028” at: https://www.grandviewresearch.com/industry-analysis/pediatric-home-healthcare-market
According to a study conducted in October 2016, around 1.0% of the pediatric population constitutes CMC in the U.S. This population accounts for almost 30.0% of the pediatric healthcare cost. In-home pediatric services significantly reduce medical expenditure by shortening hospital stays for children requiring complex medical assistance.
The pediatric care service is a thriving sector in the home healthcare industry and offers immense potential for players to expand their services. One of the major players in the market, BAYADA Home Health Care, mentioned pediatric nursing services as its largest revenue-generating specialty, accounting for about one-third of its revenue.
Furthermore, the spread of the COVID-19 pandemic is significantly increasing the demand for home healthcare services to children with multiple chronic conditions. However, as physician visits were restricted during the pandemic, home care agency’s introduced virtual visits for patient care. For instance, in December 2020, St. Mary’s Home Care – a home care agency in New York launched a virtual service platform for patient engagement.
Grand View Research has segmented the global pediatric home healthcare market on the basis of service and region:
- Pediatric Home Healthcare Service Outlook (Revenue, USD Million, 2016 – 2028)
- Skilled Nursing Services
- Personal Care Assistance
- Rehabilitation Therapy Services
- Pediatric Home Healthcare Regional Outlook (Revenue, USD Million, 2016 – 2028)
- North America
- Asia Pacific
- Latin America
- Middle East & Africa (MEA)
- South Africa
- Saudi Arabia
List of Key Players of Pediatric Home Healthcare Market
- Aveanna Healthcare, Inc.
- DJK Home Healthcare LLC
- BAYADA Home Health Care
- Tendercare Home Health
- BrightStar Care
- Angels of Care Pediatric Home Health
- New England Home Care, Inc.
- Pediatric Home Healthcare
- Enviva Paediatric Care
- Interim Healthcare Inc.
- MGA Homecare
- At Home Healthcare
Find more research reports on Medical Devices Industry, by Grand View Research:
- Home Healthcare Market–The global home healthcare market size was valued at USD 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 Healthcare Market–The North America home healthcare market size was valued at USD 756.8 million in 2014 and is expected to grow at a rate of 10.9 % over the forecast period. Growing base of geriatric population, triggering the incidence rate of target diseases, and the increasing need to curb healthcare expenditure as an economically viable initiative are some high impact rendering drivers of this market.
- India Home Healthcare Market–The India home healthcare market size was valued at USD 5.2 billion in 2019 and is projected to expand 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, U.S.-based market research and consulting company, provides syndicated as well as customized research reports and consulting services. Registered in California and headquartered in San Francisco, the company comprises over 425 analysts and consultants, adding more than 1200 market research reports to its vast database each year. These reports offer in-depth analysis on 46 industries across 25 major countries worldwide. With the help of an interactive market intelligence platform, Grand View Research helps Fortune 500 companies and renowned academic institutes understand the global and regional business environment and gauge the opportunities that lie ahead.
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