U.S. Home Healthcare Services Market Worth $175.7 Billion By 2028
U.S. Home Healthcare Services Industry Overview The U.S. home healthcare services market size was valued at USD 101.8 billion in 2020 and is expected to expand at a compound annual growth rate (CAGR) of 7.1% from 2021 to 2028. Major factors driving the market growth are increasing demand for home healthcare, the high prevalence of chronic diseases, and the launch of innovative payment models by the government. Home healthcare services are currently in demand due to major factors such as the high geriatric population and their preference to stay at home as they age, instead of a medical facility. According to the U.S. Census Bureau, as of 2020 56 million Americans were 65 years or older and their number is expected to reach 84 million by 2040. Moreover, patients who opt for home healthcare services following hospital discharge experience fewer instances of readmission, higher satisfaction, better outcomes, fewer emergency room visits, and lower costs, which prove to be important ...