Pediatric Home Healthcare Industry: Factors That Will Drive Huge Growth

Posted by Nicky Arora on March 9th, 2020

The global pediatric home healthcare market size is expected to reach USD 58.5 billion by 2026, based on a new report by Grand View Research, Inc., exhibiting a CAGR of 8.3%. Growing population of Children with Medical Complexities (CMC) requiring in-home care is expected to drive the market during the forecast period.

According to a study conducted in October 2016, around 1% of pediatric population constitutes of CMC in the U.S. This population accounts for almost 30% of the pediatric healthcare cost. In-home pediatric services significantly reduce the medical expenditure by shortening hospital stays for children requiring complex medical assistance.

The pediatric care service is a thriving sector in the home healthcare industry and offers immense potential for players to expand their services. One of the major players in the market, BAYADA Home Health Care, mentioned pediatric nursing services as its largest revenue generating specialty, accounting for about one-third of its revenue.

Know More @ https://www.grandviewresearch.com/industry-analysis/pediatric-home-healthcare-market/request/rs1

Further key findings from the study suggest:

• Premature infants may suffer from numerous disorders that require rehabilitation therapy to improve motor functions.
• High probability of premature infants living with neurological and muscular deficits is expected to boost demand for rehabilitation therapy services is expected to thrive during the forecast period.
• Children with physical and neurological development deficits require care in a comfortable and convenient environment.
• Personal care services offered by in-home care providers are a relief for working parents of such kids. Personal care assistance segment is expected to grow due to increase in demand for long-term healthcare services forinfants with complex cardiac, neurological, and respiratory disorders.
• North America held the largest share in 2018. Favorable reimbursement policies in the U.S., wherein majority of pediatric care services are covered under Medicaid is positively driving the demand for pediatric home healthcare services.
• Major players in the market have undertaken numerous initiatives to enhance pediatric services offered for in-home care. For instance, in September 2017, doForms-a workflow automation software provider-collaborated with BAYADA Home Health Care to launch BAYADA Pediatrics Care Connect-an electronic documentation system that keeps a record of clinical information.

Some of the key players in the market are DJK HOME HEALTHCARE LLC; Aveanna Healthcare; Tendercare Home Health;BAYADA Home Health Care; BrightStar Care; Pediatric Home Healthcare;New England Home Care, Inc.;Angels of Care Pediatric Home Health;EnViva Paediatric Care;eKidzCare; ParaMed; MGA Homecare;At Home Healthcare; and Interim HealthCare, Inc.