Health Caregiving Market to Rise at 12.6% CAGR by 2024

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(Newswire.net — July 13, 2017) New York City, New York — Provision of noble services by caregivers across the globe will continue to tend fragile health of elder population and blooming infant lives. Increasing adoption of nursing by people for their loved ones is expected to surge the demand for health caregiving market in the near future. After having pegged for revenues more than US $75 billion in 2015 and US $84.5 billion in 2016, the global health caregiving market is estimated to reach US $218.5 billion by 2024 end and witness 12.6% CAGR during the forecast period (2016-2024) according to the report by Persistence Market Research (PMR). PMR’s estimation states that increasing nuclear families, especially “DINK” (Double Income, No Kids), is a key factor fuelling the demand for global health caregiving market.

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Social Well-being health caregiving services Expected to Lose Traction and Exhibit Lowest CAGR of 11.9%

Assistance in daily essential activities is a prominent type of health caregiving service being adopted in the world. As per PMR’s report, around three-fourth of global revenues of health caregiving market is estimated to be accounted by services for assistance in daily essential activities. While, health caregiving services providing awareness on health & safety and improving ‘quality of life’ are expected to hold market revenue share of US $30 billion in the global health caregiving market by 2024 end. In contrast, health caregiving services for social well-being is estimated to lose traction exhibiting the lowest 11.9% CAGR during the forecast period.

Geriatric Population End-Users Segment to be Lucrative in Global Health Caregiving Market

Based on end-users, geriatric population is estimated to account for around one-third of market revenues for global health caregiving market by 2024 end. While, the disabled population across the world is expected to account for revenues more than US $50 billion in the global health caregiving market during the forecast period. In addition, neonatal & pediatric population availed revenues over US $16 billion from health caregiving services, toddlers and infants being the prominent health caregiving services end-users.

Europe Estimated to Witness Fastest Growth in Global Health Caregiving Market During 2016 to 2024

Region-wise, the market is categorized into North America, Europe, Middle East & Africa (MEA), Latin America and Asia Pacific (APAC). North America is estimated to remain dominant in the global health caregiving market and expected to account for more than 50% of global revenues witnessing 15.3% CAGR during the forecast period. U.S. in North America region is estimated to be lucrative in health caregiving services owing to novel technologies assisting care receiving population.

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Middle East & Africa and Latin America regions are expected to exhibit sluggish growth in the global health caregiving market during 2016 to 2024, whereas Europe is estimate to witness fastest growth in this market during the same period. The health caregiving market of Asia Pacific is anticipated to account for market value of US $14,756.3 million by 2024 end.

Leading companies in the global health caregiving market include Seniorlink Inc., UnaliWear Inc., HomeHero Inc., Honor Technology Inc., GreatCall, Cariloop Inc. and Hometeam.

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