Fresenius SE & Co. KGaA (Germany) and Abbott (US) are Leading Players in the Home Healthcare Market
The global home healthcare market is projected to reach USD 383.0 Billion by 2028 from USD 250.0 Billion in 2023, at a CAGR of 8.9% during the forecast period Growth in this market is primarily driven by expansial growth in the old age population, and the rising incidence of chronic diseases.
The key players operating in home healthcare market include Fresenius SE & Co. KGaA (Germany), Abbott (US), GE HealthCare (US), Koninklijke Philips N.V. (Netherlands), ResMed, Inc. (US), Linde plc (Ireland), F. Hoffman-La Roche, Ltd. (Switzerland), A&D Company, Limited (Japan), Bayada Home Health Care (US), Invacare Corporation (US), Amedisys (US), LHC Group, Inc. (US), OMRON Corporation (Japan), Drive DeVilbiss Healthcare (UK), Sunrise Medical (Germany), Roma Medical (UK), CAREMAX Rehabilitation Equipment Co., Ltd. (China), Vitalograph (UK), Advita Pflegedienst GmbH (Germany), RENAFAN GmbH (Germany), CONTEC MEDICAL SYSTEMS Co., Ltd. (China), B. Braun Melsungen Ag (Germany), Baxter International, Inc. (US), Medline Industries, Inc. (US), and Advin Health Care (India).
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In 2022, Fresenius SE & Co. KGaA (Germany) held the leading position (4.7% market share) in the home healthcare market. The company has maintained a leading position in the market through its strong distribution networks across North America, Europe, Latin America, Asia Pacific, and Africa. Fresenius has a strong direct and indirect distribution network across the globe. Fresenius adopts both organic and inorganic growth strategies. For instance, in May 2020, the company expanded its home hemodialysis product offerings in Europe, the Middle East, and Africa. In August 2022, the company acquired InterWell Health Brand (US), which has expertise in kidney care value-based contracting and performance.
In 2022, Abbott (US) accounted for 3.9% of the home healthcare market. Abbott’s lgrowing position in this market is primarily due to its increasing global sales and distribution network. Also, Abbott focuses on R&D activities to create and manufacture profitably unique and better products compared to its competitors. Abbotts’s growing investments in R&D to benefits its product portfolio and capital distribution tactics help fuel its future growth and maintain a worthy position in the home healthcare market. In addition to all this, Abbott carries on strategies such as acquisitions to strengthen its market position. In June 2020, the company collaborated with Insulet Corporation (US) to merge and optimize Abbott’s leading CGM technology with Insulet’s Omnipod Horizon Automated Insulin Delivery System to offer unique and patient specific automated insulin delivery and care for people living with diabetes.
Related Reports:
Home Healthcare Market by Product (Dialysis Equipment, Ventilators, HIV Test Kits, Hearing Aids, Activity Monitors), Service (Skilled Nursing, Infusion Therapy, Palliative Care), Indication (Cancer, Wound Care, Diabetes), & Region- Global Forecast to 2028
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