Global Home Care Services Industry

Global Home Care Services Industry

  • September 2020 •
  • 187 pages •
  • Report ID: 5956969 •
  • Format: PDF
Global Home Care Services Market to Reach $1.8 Trillion by 2027

Amid the COVID-19 crisis, the global market for Home Care Services estimated at US$260.4 Billion in the year 2020, is projected to reach a revised size of US$1.8 Trillion by 2027, growing at a CAGR of 32.3% over the analysis period 2020-2027. Personal Care, one of the segments analyzed in the report, is projected to record a 34.8% CAGR and reach US$545 Billion by the end of the analysis period. After an early analysis of the business implications of the pandemic and its induced economic crisis, growth in the Nursing Care segment is readjusted to a revised 32.3% CAGR for the next 7-year period.

The U.S. Market is Estimated at $69.7 Billion, While China is Forecast to Grow at 40.2% CAGR

The Home Care Services market in the U.S. is estimated at US$69.7 Billion in the year 2020. China, the world`s second largest economy, is forecast to reach a projected market size of US$494.9 Billion by the year 2027 trailing a CAGR of 40.2% over the analysis period 2020 to 2027. Among the other noteworthy geographic markets are Japan and Canada, each forecast to grow at 25.5% and 29.5% respectively over the 2020-2027 period. Within Europe, Germany is forecast to grow at approximately 27.7% CAGR.

Other Service Types Segment to Record 30.3% CAGR

In the global Other Service Types segment, USA, Canada, Japan, China and Europe will drive the 29.3% CAGR estimated for this segment. These regional markets accounting for a combined market size of US$67.2 Billion in the year 2020 will reach a projected size of US$405.2 Billion by the close of the analysis period. China will remain among the fastest growing in this cluster of regional markets. Led by countries such as Australia, India, and South Korea, the market in Asia-Pacific is forecast to reach US$292.2 Billion by the year 2027, while Latin America will expand at a 31.6% CAGR through the analysis period. We bring years of research experience to this 7th edition of our report. The 187-page report presents concise insights into how the pandemic has impacted production and the buy side for 2020 and 2021. A short-term phased recovery by key geography is also addressed.

Competitors identified in this market include, among others,
  • Australian Home Care Services
  • BrightStar Care
  • CareLinx Inc.
  • Eldercare Services
  • Family inHome Caregiving, Inc.
  • Hired Hands Inc.
  • Home Care Assistance Corporation
  • Honor Technology, Inc.
  • Living Assistance Services
  • Seniorlink Inc.