The global Pediatric Home Healthcare Market size is expected to reach USD 68.6 billion by 2028, according to a new report by Grand View Research, Inc. The market is expected to expand at a CAGR of 7.8% from 2021 to 2028. The 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 1.0% of the pediatric population constitutes CMC in the U.S. This population accounts for almost 30.0% of the pediatric healthcare cost. In-home pediatric services significantly reduce 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.
Furthermore, the spread of the COVID-19 pandemic is significantly increasing the demand for home healthcare services to children with multiple chronic conditions. However, as physician visits were restricted during the pandemic, home care agency’s introduced virtual visits for patient care. For instance, in December 2020, St. Mary’s Home Care – a home care agency in New York launched a virtual service platform for patient engagement.
Related Press Release@ Pediatric Home Healthcare Market Report
Pediatric Home Healthcare Market Report Highlights
- 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 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. The personal care assistance segment is expected to grow due to an increase in demand for long-term healthcare services for infants with complex cardiac, neurological, and respiratory disorders
- North America held the largest revenue share in 2020. Favorable reimbursement policies in the U.S., wherein the majority of pediatric care services are covered under Medicaid is positively driving the market
- 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