The home healthcare market size is projected to reach US$ 332.33 billion in 2024 and is projected to reach US$ 587.00 billion by 2031; it is anticipated to record a CAGR of 8.5% from 2025 to 2031. Major factors driving the market growth include a surging prevalence of chronic diseases among the aging population and the cost-effectiveness of home healthcare services. Further, the adoption of advanced technologies in homecare settings is likely to boost the market during the forecast period. However, data privacy vulnerabilities among the market deterrents.

As per the United Nations (UN) estimation, by 2060, the geriatric population will reach 1.8 billion, which will account for 17.8% of the world's total population. Typical health problems for older adults consist of hearing impairment, cataracts, refractive errors, back and neck discomfort, osteoarthritis, chronic obstructive pulmonary disease, depression, and dementia. Advanced age is also associated with the development of various complex health situations commonly referred to as geriatric syndromes. These often result from a combination of factors and include frailty, urinary incontinence, falls, delirium, and pressure sores. According to Partnership for Quality Home Healthcare, a majority of patients (91%) prefer to get care in their homes, and it is cost-effective.

Elderly individuals are more likely to suffer from chronic health issues, including heart disease, diabetes, hypertension, arthritis, and respiratory ailments. Home healthcare is essential for managing such chronic diseases by offering skilled nursing care, patient education, and training. For example, nurses can educate patients living with hypertension on how to monitor their blood pressure levels or help diabetic patients learn to use blood glucose meters. Home healthcare is more cost-effective than hospital care and minimizes the risk of healthcare-associated infections. It also promotes aging in place and fosters independence, both of which are crucial for ensuring a good quality of life for older adults.

Therefore, the surging prevalence of chronic diseases among the aging population is increasing the demand for home healthcare services to ensure healthy aging.

Further, With the global population aging, governments across the globe are acknowledging the significance of delivering comprehensive healthcare services to senior citizens, which includes care within the home. This awareness is leading to various initiatives and programs focused on enhancing the quality of life for older adults and encouraging healthy aging. For instance, in September 2024, the Centers for Medicare & Medicaid Services (CMS) published a report detailing the agency's analysis of the Acute Hospital Treatment at Home (AHCAH) program, which permits some Medicare-certified hospitals to provide inpatient-level treatment to patients at their homes. The Consolidated Appropriations Act (CAA), 2023, extended the waivers and flexibilities related to the AHCAH project until December 31, 2024, although the program was started under the COVID-19 public health emergency (PHE). Such initiatives benefit the well-being of seniors and increase the demand for home healthcare services.

Government support also extends to financial assistance and insurance coverage for home healthcare services. In the United States, Medicaid and Medicare provide federal coverage for these services, while state-specific coverage varies. These government-funded initiatives increase the accessibility and affordability of home healthcare, which encourages older people and those with long-term illnesses to use it. Governments are also enforcing laws and quality control procedures to guarantee the efficacy and safety of home healthcare services. Therefore, government initiatives to encourage the adoption of home healthcare services are expected to create opportunities for the service providers to expand their offerings and gain market share during the forecast period.

The comparative company analysis evaluates and categorizes the home healthcare market based on product portfolio (product satisfaction, product features, and availability), recent market developments (merger & acquisition, new product launch & enhancement, investment & funding, award, agreement, collaboration, & partnership, recognition, and expansion), and geographic presence that aids better decision-making and understanding of the competitive landscape. The report profoundly explores the recent significant developments and innovations by the leading vendors in the global home healthcare market. The key market players are Enhabit Home Health & Hospice, Apollo HomeCare, Cura Mexico, Koninklijke Philips NV, LHC Group Inc, BAYADA Home Health Care, Mears Group Plc, Abbott Care, Amedisys Inc, Kindred Healthcare, LLC, and CenterWell Home Health.

Based on the service, the home healthcare market is segmented into skilled nursing care, physical therapy, rehabilitation therapy, speech therapy, and others. The skilled nursing care segment held the largest share in the home healthcare market in 2024.

By type, the home healthcare market is segmented into therapeutic, diagnostic, and mobility assistance. The therapeutic segment dominated the home healthcare market in 2024.

According to indication, the home healthcare market is segmented into cancer, respiratory diseases, mobility disorders, cardiovascular disorders, wound care, diabetes, and others. The respiratory diseases segment dominated the home healthcare market in 2024.

Various organic and inorganic strategies are adopted by companies operating in the home healthcare market. The organic strategies mainly include product launches and product approvals. Inorganic growth strategies witnessed in the market are acquisitions, collaboration, and partnerships. These growth strategies allow the market players to expand their businesses and enhance their geographic presence, along with contributing to the overall market growth. Furthermore, strategies such as acquisitions and partnerships helped strengthen their customer base and extend their product portfolios. A few of the significant developments by key players in the home healthcare market are listed below.

In December 2022, Enhabit, Inc., a leading provider of home health and hospice services, announced its acquisition of the home health agency from Southwest Florida Home Care, Inc., located in Fort Myers, Florida. This acquisition extended Enhabit's presence in Florida, bringing the total number of their home health locations in the state to 22. The new Fort Myers location enhanced Enhabit's capacity to serve the communities in southwest Florida.

In August 2020, LHC Group, the Lafayette, Louisiana-based home health, hospice, and personal care services provider, announced it has signed a definitive agreement to form a new JV with University Health Care System, one of the largest, most comprehensive health care organizations in Georgia.