SAN FRANCISCO, June 9, 2021 /PRNewswire/ — According to a new report from Grand View Research, Inc. The global pediatric home care market is expected to reach $68.6 billion by 2028. from 7.8% from 2021 to 2028. The growing population of children with medical complexity (CMC) requiring home care is expected to drive the market during the forecast period.
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Key suggestions from the report:
Premature babies can suffer from a variety of conditions that require rehabilitation therapy to improve motor function
High probability of preterm infants living with neurological and muscular deficits expected to drive demand for rehabilitation therapy services during forecast period
Children with physical and neurodevelopmental delays need care in a comfortable and convenient environment
Personal care services offered by home care providers are a breath of fresh air for working parents of such children. The personal care segment is expected to grow as a result of increased demand for long-term health care for babies with complex cardiac, neurological and respiratory conditions
North America had the largest share of revenue in 2020. Favorable reimbursement policies in the US, where the majority of pediatric care services are covered by Medicaid, are positively driving the market
Major players in the market have taken numerous initiatives to improve pediatric home care services. For example, in September 2017, doForms, a supplier of workflow automation software, partnered with BAYADA Home Health Care to launch BAYADA Pediatrics Care Connect, an electronic documentation system that tracks clinical information.
Read the 104 page research report with ToC on “Pediatric Home Healthcare Market Size, Share & Trends Analysis Report By Service (Skilled Nursing Services, Personal Care Assistance, Rehabilitation Therapy Services), By Region, And Segment Forecasts, 2021 – 2028” at: https ://www.grandviewresearch.com/industry-analysis/pediatric-home-healthcare-market
According to a study conducted in October 2016, approximately 1.0% of the pediatric population constitutes CMC in the US. This population accounts for nearly 30.0% of pediatric health care costs. In-home pediatric services significantly reduce medical expenses by shortening hospital stays for children requiring complex medical care.
Pediatric care is a thriving sector in the home health care sector and offers players enormous potential to expand their services. One of the key players in the market, BAYADA Home Health Care, cited pediatric nursing services as the largest revenue-generating specialty, accounting for about a third of its revenue.
In addition, the spread of the COVID-19 pandemic is significantly increasing the demand for home care for children with multiple chronic conditions. However, as physician visits were limited during the pandemic, home health agencies introduced virtual visits for patient care. For example, in December 2020, St. Mary’s Home Care – a New York home care agency launched a virtual patient engagement service platform.
Grand View Research has segmented the global pediatric home care market by service and region:
Pediatric Home Healthcare Service Outlook (Revenue, USD Million, 2016 – 2028)
Regional Outlook for Pediatric Home Care (Revenue, USD million, 2016 – 2028)
Leading Player of the Pediatric Home Healthcare Market:
Aveanna Healthcare, Inc.
DJK Home Care LLC
BAYADA Home Care
Tendercare Home Care
Angels of Care Pediatric Home Health
New England Home Care, Inc.
Home care for children
Enviva Pediatric Care
Interim Healthcare Inc.
Find more Medical Devices Industry research reports, by Grand View Research:
Home healthcare market – The global home healthcare market was valued at $281.8 billion in 2019 and is expected to grow at a compound annual growth rate (CAGR) of 7.9% from 2020 to 2027.
North American Home Care Market – The market size of the home health care market in North America was valued at USD 756.8 million in 2014 and is expected to grow by 10.9% over the forecast period. A growing number of geriatric populations, increasing the incidence of target diseases, and the increasing need to curb health care spending as an economically viable initiative are some of the powerful drivers behind this market.
Home healthcare market in India – The home healthcare market in India was valued at $5.2 billion in 2019 and is expected to grow at a compound annual growth rate (CAGR) of 19.2% from 2020 to 2027.
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About Grand View Research
Grand View Research, a US-based market research and consulting firm, provides both syndicated and custom research reports and advisory services. The company is registered in California and headquartered in San Francisco. The company is made up of more than 425 analysts and consultants and adds more than 1,200 market research reports to its extensive database every year. These reports provide in-depth analysis of 46 industries in 25 major countries worldwide. Using an interactive market intelligence platform, Grand View Research helps Fortune 500 companies and renowned academic institutions understand the global and regional business environment and measure the opportunities ahead.
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SOURCE Grand View Research, Inc.