Pediatric Home Healthcare Market to Reach $71.2 Billion, Globally, by 2032 at 6.7% CAGR: Allied Market Research

The global pediatric home healthcare market is experiencing growth due to the factors such as a rise in prevalence of cancer and chronic disease in children, increase in the number of premature births across the world, surge in the number of pediatric home healthcare service providers, and rapid advancements in technology for the development of medical devices to provide home healthcare services. 

PORTLAND, Ore., July 4, 2023 /PRNewswire/ -- Allied Market Research published a report, titled, "Pediatric home healthcare Market by Services (Skilled Nursing Services, Personal Care Assistance and Rehabilitation Therapy Services), by Application (Cancer, Respiratory Disease, Cardiovascular Disease, Physical Disabilities and Others): Global Opportunity Analysis and Industry Forecast, 2023-2032". According to the report, the global pediatric home healthcare market was valued at $37.2 billion in 2022 and is estimated to reach $71.2 billion by 2032, exhibiting a CAGR of 6.7% from 2023 to 2032.

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Prime determinants of growth 

Rise in prevalence of cancer and chronic disease in children, growing preference for home-based care and increasing awareness among parents, caregivers, and healthcare professionals about the benefits of pediatric home healthcare acts as a key driving factor for the growth of the global pediatric home healthcare market. However, the high cost of pediatric home healthcare services, and lack of skilled professionals in developing countries are expected to hamper the pediatric home healthcare market growth. On the contrary, rise in awareness about pediatric home healthcare in developing countries  are expected to create immense opportunities for the expansion of the global market in the future. 

Report coverage & details: 

Covid-19 Scenario 

• The global pediatric home healthcare market was positively impacted during the pandemic. The pandemic has led to an increased demand for pediatric home healthcare services as families may prefer to have their children receive care in the safety and comfort of their own homes. 
• The COVID-19 pandemic had a positive impact on the pediatric home healthcare services as healthcare facilities are the best solution to meet the demands of medical treatment in the home itself. At the same time, home healthcare services reduced the impact of the COVID-19 pandemic by limiting the spread of the virus. 

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The rehabilitation therapy services segment to maintain its leadership status throughout the forecast period 

Based on services, the rehabilitation therapy services segment held the highest market share in 2022, accounting for more than two-fifths of the global pediatric home healthcare market revenue and is estimated to maintain its leadership status throughout the forecast period, owing to rise in prevalence of children with physical disabilities and high adoption of pediatric home healthcare services and the availability of various technologically advanced medical devices to improve motor skills such as strength, mobility, and functional abilities. moreover, the same segment is estimated to showcase the fastest CAGR of 7.4% from 2023 to 2032.

The physical disability segment to maintain its leadership status throughout the forecast period 

Based on application, the physical disability segment held the highest market share in 2022, accounting for nearly two-fifths of the global pediatric home healthcare market revenue and is estimated to maintain its leadership status throughout the forecast period. Also, the same segment would portray the notable CAGR of 7.6% during the forecast period. This is due to a rise in number of children suffering from any kind of physical deformities and surge in demand for pediatric home healthcare service to provide proper rehabilitation therapy such as physical therapy, speech and occupational therapy to children.

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North America to maintain its dominance by 2032 

Based on region, North America held the highest market share in terms of revenue in 2022, accounting for more than two-fifths of the global pediatric home healthcare market revenue. This is attributed to growing awareness about pediatric home-based medical services and rise in prevalence of children with medical complexity (CMC). CMC represents less than 1% of all U.S. children, but accounts for more than 30% of total pediatric healthcare costs. However, the Asia-Pacific region is expected to witness the fastest CAGR of 7.9% from 2023 to 2032 and is likely to dominate the market during the forecast period, owing to an increase in awareness among families and healthcare providers about the benefits and availability of pediatric home healthcare services, surge in healthcare expenditure, and rise in cases of chronic diseases such as cerebral palsy, congenital heart diseases, cystic fibrosis, muscular dystrophy, epilepsy, and cancer in pediatric population, which further increase the demand for pediatric home healthcare. These factors are expected to boost the growth of the market. 

Leading Market Players: - 

• Aveanna Healthcare LLC
• BAYADA Home Healthcare
• Tendercare Home Health
• Angels of Care Pediatric Home Health
• New England Home Care Inc.
• EKIDZCARE Corporate
• Children's Home Healthcare
• MGA Homecare
• ParaMed Home Healthcare
• Interim Healthcare

The report provides a detailed analysis of these key players of the global pediatric home healthcare market. These players have adopted different strategies such as agreement, partnership, acquisition, and business expansion to increase their market share and maintain dominant shares in different regions. The report is valuable in highlighting business performance, operating segments, product portfolio, and strategic moves of market players to showcase the competitive scenario. 

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We have also published few syndicated market studies in the similar area that might be of your interest. Below are the report title for your reference, considering Impact of Covid-19 over this market which will help you to assess aftereffects of pandemic on short-term and long-term growth trends of this market.

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