What are the major driving factors and opportunities in the Pediatric Home Healthcare market By 2028?

 Pediatric Home Healthcare Industry Overview

The global pediatric home healthcare market size was valued at USD 37.0 billion in 2020 and is expected to expand at a compound annual growth rate (CAGR) of 7.8% from 2021 to 2028. The availability of advanced technologies for providing continuous care and medical assistance at home to Children with Medical Complexities (CMC) is expected to fuel market growth.

Life-sustaining pediatric home healthcare services in a comfortable environment have reduced hospital stays for infants with complex cardiac, neurological, and respiratory disorders. According to the National Survey of Children with Special Healthcare Needs, in 2016, one in every five children aged 5 to 19 requires special medical care. While the prevalence of Children with Special Healthcare Needs (CSHCN) is increasing, availability of pediatric home healthcare services improves the quality of life for these children and radically reduce their medical expense.

Gather more insights about the market drivers, restrains and growth of the Global Pediatric Home Healthcare market

 

Furthermore, an increase in the life expectancy of premature babies due to improved medical interventions has created the demand for in-home pediatric care services. Infants born prematurely and weighing less than 1 pound usually suffer from several chronic conditions, requiring extra care from an early stage. Moreover, assistive devices and equipment such as ventilators, CPAP, gastric tubes, nebulizers, and apnea monitors have allowed infants with complex diseases to be discharged from neonatal intensive care units and continue medical assistance with pediatric nursing care at home.

The rising prevalence of chronic conditions such as cerebral palsy, congenital heart diseases, cystic fibrosis, muscular dystrophy, epilepsy, and cancer in pediatric pollution worldwide has created opportunities for key players to invest in the market. According to 2009-10 NS-CSHCN, around 5.6 million children in the U.S. required at least 5 hours of in-home medical care. Parents spend around 1.5 billion hours a year taking care of their children, which leads to an economic burden of USD 3,200 for each family.

Favorable insurance policies aid the rising demand for pediatric healthcare services. According to the American Academy of Pediatrics, home healthcare services for children such as nursing care, primary care, personal care assistance, and hospice care are covered under Medicaid. The majority of pediatric expenditure is covered by Medicaid and the remaining is covered by private insurance coverage. For instance, DJK HOME HEALTHCARE LLC- a Texas-based agency-offers various programs waivered by Medicaid such as STAR Kids, STAR Health, Respite, Community Living Assistance and Support Services (CLASS), and CSHCN.

Additionally, the COVID-19 pandemic had a mixed impact on the market for pediatric home healthcare. As the pediatric home healthcare market consists of products and services, both have different effects. COVID-19 pandemic has a positive impact on pediatric home healthcare services as healthcare facility is the best solution to meet the demands of medical treatment in the home itself at the same time the home healthcare minimize the COVID-19 pandemic by limiting the spread of the virus.

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Pediatric Home Healthcare Market Segmentation

Grand View Research has segmented the global pediatric home healthcare market based on service and region:

  • Service Outlook (Revenue, USD Million, 2016 - 2028)
    • Skilled Nursing Services
    • Personal Care Assistance
    • Rehabilitation Therapy Services

 

  • Regional Outlook (Revenue, USD Million, 2016 - 2028)
    • North America
    • Europe
    • Asia Pacific
    • Latin America
    • Middle East & Africa (MEA)

 

Market Share Insights

  • January 2019: Pediatric Home Service, a Pittsburgh-based company-entered into a partnership with InTandem Capital Partners, LLC, a private equity firm in the healthcare industry.
  • March 2017: PSA Healthcare and Epic Health Services-two leading companies collaborated to form Aveanna Healthcare LLC, one of the largest pediatric care companies.

Key Companies profiled:

Some prominent players in the global pediatric home healthcare market include

  • Aveanna Healthcare, Inc.
  • DJK Home Healthcare LLC
  • BAYADA Home Health Care
  • Tendercare Home Health
  • BrightStar Care
  • Angels of Care Pediatric Home Health
  • New England Home Care, Inc.
  • Pediatric Home Healthcare
  • Enviva Paediatric Care
  • Interim Healthcare Inc.
  • eKidzCare
  • MGA Homecare
  • At Home Healthcare
  • ParaMed

 

Order a free sample PDF of the Pediatric Home Healthcare Market Intelligence Study, published by Grand View Research. 

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