At-home healthcare is quickly gaining momentum — the market is estimated to be worth more than $360B, according to CB Insights’ Industry Analyst Consensus.
This surge in interest has partially been driven by the Covid-19 pandemic but is also due to growing demand from patients and providers for convenient, personalized, and cost-effective care options. About 3 out 5 people prefer receiving at-home care compared to going to a medical facility, according to a recent Carecentrix survey.
The two patient populations that stand to benefit the most from home healthcare include seniors and those with chronic medical conditions.
Across the world, the number of people aged 60 and above is increasing quickly and will reach over 2B by 2050. Meanwhile, 6 in 10 US adults have at least one chronic disease — such as diabetes. cancer, or obesity — and patients requiring care for these conditions account for $3.7T in annual healthcare costs in the US, per the CDC. The ability to better monitor health and deliver more care outside of traditional medical settings could help significantly reduce this expenditure.
This report evaluates 14 home care tech markets that healthcare providers should monitor, vet, and prioritize.
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