U.S. Home Healthcare Services Market Size to Hit US$ 254.2 billion by 2030

The U.S. Home Healthcare Services market size was valued at US$ 133.7 billion in 2021 and is expected to hit US$ 254.2 billion by 2030, growing at a compound annual growth rate (CAGR) of 9.2% from 2022 to 2030.

Growth Factors:

Major factors driving the market growth are increasing demand for home healthcare, the high prevalence of chronic diseases, and the launch of innovative payment models by the government. Home healthcare services are currently in demand due to major factors such as the high geriatric population and their preference to stay at home as they age, instead of a medical facility. According to the U.S. Census Bureau, as of 2020 56 million Americans were 65 years or older and their number is expected to reach 84 million by 2040. Moreover, patients who opt for home healthcare services following hospital discharge experience fewer instances of readmission, higher satisfaction, better outcomes, fewer emergency room visits, and lower costs, which prove to be important contributors, apart from high demand, for the growth of home healthcare industry.

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The concern of multiple chronic conditions (MCC) among the U.S. population is a major medical and public health challenge. MCCs include a broad array of physical illnesses, such as heart disease, diabetes, respiratory illness, asthma, and arthritis. One of the major contributors to the requirement of home healthcare services in the U.S. is Alzheimer's disease (AD). According to the Alzheimer's Association, the prevalence of individuals aged 65 and older living with Alzheimer's dementia is expected to be around 6.2 million during 2021. Patients with dementias require more annual home health care visits than other older people, making the disease severity a decisive factor for the market growth.

Report Scope of the U.S. Home Healthcare Services Market

Expansion of the Home Health Value-Based Purchasing (HHVBP) model, declared by CMS in June 2021 in its proposed payment rule for 2022, is a significant change in the home health industry. Initially implemented in 2016 to create financial incentives to improve the quality of care, HHVBP has saved an average of around USD 141 million annually for Medicare since its inception. In addition, CMS has announced the increase of Medicare payments by 1.7% to home health agencies from 2022, which equates to an increase of around USD 310 million, and is expected to increase the affordability of care.

Type Insights

The type segment is categorized into skilled care and unskilled care. In 2020, the skilled care segment held the largest market share in terms of revenue and is expected to register the fastest growth over the forecast period. The nursing care sub-segment of skilled care is benefiting from the introduction of innovative programs such as SNF-at-home by key players, which provides quality care to the patients at the comfort of their homes.

The nursing care provided at home includes disease management, IV medication management, and wound care among others. Considering the benefits of providing nursing at home, service providers are taking initiatives to grow at-home skilled nursing programs, along with acute care models. For instance, South Carolina-based Prisma Health in July 2021 expanded its home recovery care program to its post-acute facility. Implementation of such programs helps patients reduce their hospital stay and in turn reduces the stress on hospital staff.

Primary care refers to healthcare services provided by a physician, generally by the most frequently contacted physician and is beneficial as the care providers are aware of the ongoing history with patients. Providing comprehensive primary care at home has proven to be highly effective in improving patient experience and reducing healthcare costs and encourages providers to establish home health dedicated programs. For instance, Home Based Primary Care (HBPC) is operated by the U.S. Department of Veterans Affairs (VA) to cater increasing veteran population with chronic disabling diseases. Such programs prove effective in reducing inpatient hospital stays and emergency room visits, thus reducing cost.

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Some of the prominent players in the U.S. Home Healthcare Services market include:

• Kindred Healthcare, LLC
• Brookdale Senior Living Inc.
• Sunrise Senior Living, LLC
• Genesis Healthcare, Inc.
• Capital Senior Living Corporation
• Diversicare Healthcare Services, Inc.
• Senior Care Center
• Atria Senior Living, Inc.
• Amedisys, Inc.
• Home Instead, Inc.

Segments Covered in the Report

This research report offers market revenue, sales volume, production assessment and prognoses by classifying it on the basis of various aspects. Further, this research study investigates market size, production, consumption and its development trends at U.S. for the period of 2017 to 2030

• By Type 
  • Skilled Care
    • Physician/primary care
    • Nursing Care
    • Physical, Occupational, and/or Speech Therapy
    • Nutritional Support
    • Hospice & Palliative Care
    • Other Skilled Care Services
  • Unskilled Care

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Key Questions Answered in U.S. Home Healthcare Services Market Report

• What will be the sales/revenue generated by U.S. Home Healthcare Services across all regions during the forecast period?
• What are the opportunities in the U.S. Home Healthcare Services market?
• What are the major drivers, restraints, opportunities, and threats in the market?
• Which regional market is set to expand at the fastest CAGR during the forecast period?
• Which application is expected to generate the highest revenue U.S. in 2030?
• Which segment is projected to expand at the highest CAGR during the forecast period?
• What is the market position of different companies operating in the U.S. market?

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