Global home healthcare market to hit $747.7b by 2030

One key driver is a rising ageing population.

The global home healthcare market is expected to reach $747.7b by 2030 at a compound annual growth rate of 10.21%, according to a Grand View Research, Inc. report.

The sector’s expansion is attributed to cost-efficiency, improved patient outcomes, and convenience offered by home healthcare agencies.

Meanwhile, hospital and healthcare facility development is capital-intensive, prompting solution providers to enter the growing market to seize opportunities and reduce costs.

The rising ageing population and increasing prevalence of chronic diseases like Alzheimer's, dementia, and orthopaedic conditions are also expected to drive market growth.

“The World Health Organization statistics state that there are around 50 million dementia patients in the world with 10 million new cases getting added every year,” the report said.

“This number is expected to reach 82 million by 2030,” it added.