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.
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.
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Pediatric Home Healthcare Market Report Highlights
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Pediatric Home Healthcare Market Segmentation
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)
Pediatric Home Healthcare Regional Outlook (Revenue, USD Million, 2016 – 2028)
List of Key Players of Pediatric Home Healthcare Market
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Home Healthcare Market Size, Share & Trends Analysis Report By Component (Equipment, Services), By Region (North America, APAC, Europe), And Segment Forecasts, 2021 – 2028
About Grand View Research
Grand View Research is a full-time market research and consulting company registered in San Francisco, California. The company fully offers market reports, both customized and syndicates, based on intense data analysis. It also offers consulting services to business communities and academic institutions and helps them understand the global and business scenario to a significant extent. The company operates across multitude of domains such as Chemicals, Materials, Food and Beverages, Consumer Goods, Healthcare, and Information Technology to offer consulting services.
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