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The U.K. home healthcare market size was valued at USD 1.50 billion in 2022. The market is projected to grow from USD 1.61 billion in 2023 to USD 2.60 billion by 2030, exhibiting a CAGR of 7.1% during the forecast period.
Fortune Business Insights™ presents this information in its report titled, “U.K. Home Healthcare Market Size, Share & COVID-19 Impact Analysis, By Product (Continence Care {Briefs & Diapers, Catheters & Bags, Underpads & Liners, and Others}, Wound Care {Traditional Wound Dressings, Advanced Wound Dressings, Negative Pressure Wound Therapy (NPWT), and Others}, Ostomy Care {Ostomy Care Bags and Accessories}, Clinical Nutrition {Parenteral Nutrition and Enteral Nutrition}, Respiratory Care, Housekeeping Supplies & Equipment, and Others), and Country Forecast, 2023-2030”.
Home healthcare service is given at home for people suffering from any injury or sickness. These services are convenient, efficient, and less expensive than hospital ones. The rising economic burden on NHS healthcare spending has raised the need for healthcare systems, including home healthcare. The rising geriatric population has a growing prevalence of chronic diseases, including ostomy, incontinence, diabetic foot ulcers, and others. The rising need for cost-effective care solutions is estimated to boost market growth during the projected period.
Increased Lockdowns During COVID-19 Pandemic Hampered Market Growth
The COVID-19 pandemic negatively impacted the U.K. home healthcare market growth. The market witnessed a drop due to the strict lockdown procedures during the pandemic, and the disruptions in chronic disorders care hampered market growth. The COVID-19 pandemic has contributed to the drop in elective surgeries and patient visits during the pandemic, affecting market growth. For instance, Smith+Nephew recorded a significant decline of 21.3% in the U.K. advanced wound management annual sales in 2020. In 2021, the company experienced an increase of 13.9% in its revenue.
Fresenius Kabi U.K. Launched New Website to Support Parenteral Nutrition Market
In June 2022, Fresenius Kabi U.K. launched a new website supporting professionals in the parenteral nutritional market. The new website contains information regarding adults needing parenteral nutrition in various clinical settings.
Growing Prevalence of Chronic Diseases and Geriatric Population to Drive Market Growth
The increasing geriatric population and prevalence of chronic diseases, including hypertension, diabetes, mental illness, Alzheimer’s, incontinence, and others, is estimated to drive the demand for healthcare services from home during the forecast period. There have been increasing number of cases for chronic diseases which has been increasing the average number of hospital admissions. Different benefits of home healthcare includes empowering patients by making them less dependent on healthcare professionals, augment the U.K. market during the forecast period.
Close monitoring of healthcare professionals, lower cost of care compared to institutional care, and improved quality of care will also propel market growth during the projected period. Several other factors, such as the social care crisis, the increasing adoption of advanced home care technologies, and new value-based payment and care models, are increasing opportunities for investment in the industry.
However, the integrated learning process for the home healthcare devices market will hamper growth during the forecast period.
Growing Key Players Focus on Strategic Investments to Augment Market Growth
The market comprises key players, including Coloplast Corp, Smith+Nephew, Convatec Inc., Hollister Incorporated, and Mölnlycke Health Care AB. Smith+Nephew and Coloplast Corp accounted for a significant U.K. home healthcare market share in 2022, owing to their increasing focus on strategic investments to strengthen their market position. For instance, in June 2022, Smith+Nephew launched a new R&D and manufacturing facility for its Advanced Wound Management franchise in Hull, U.K. The company will invest over USD 100.0 million to build a world-class manufacturing, R&D, and flexible office environment.
Notable Industry Development
List of the Companies Profiled in the Report:
To get a detailed report summary and research scope of this market, click here:
https://www.fortunebusinessinsights.com/industry-reports/u-k-home-healthcare-market-100866
Further Report Findings-
Table of Segmentation:
ATTRIBUTE | DETAILS |
Study Period | 2019-2030 |
Base Year | 2022 |
Estimated Year | 2023 |
Forecast Period | 2023-2030 |
Historical Period | 2019-2021 |
Growth Rate | CAGR of 7.1% from 2023 to 2030 |
Unit | Value (USD billion) |
Segmentation | By Product |
By Product |
|