The Bulgaria home healthcare market was valued at $XX Bn in 2022 and is estimated to expand at a compound annual growth rate (CAGR) of XX% from 2022 to 2030 and will reach $XX Bn in 2030. One of the main reasons propelling the growth of this market is the introduction of newer technologies, and the aging population. The market is segmented by components and equipment. Some key players in this market are Evdesaglik Home health services, Bulgaria Red cross, Caritas Home care services, Bulgaria Home Care, Hocare, Integratedcare4people, and others.
The Bulgaria home healthcare market was valued at $XX Bn in 2022 and is estimated to expand at a compound annual growth rate (CAGR) of XX% from 2022 to 2030 and will reach $XX Bn in 2030. The current Bulgarian healthcare system has had trouble delivering the required continuity of care due to the country's aging population and an increase in chronic morbidities, comorbidities, and impairments. Unmet care demands among the aged population became more and more obvious as a result of a limited range of services, a healthcare system focused on hospitals and the exclusion of complementary social services.
Home care services comprise both social assistance supplied by home-helpers to support the patients in their daily lives and basic medical treatments carried out by nurses. Each patient who signs up for home care services has their requirements assessed. This guarantees that care plans are modified to meet a person's needs. This guarantees that care plans are modified to meet a person's needs. The Bulgarian Red Cross set high-quality standards for its in-home services based on the Swiss Association Spitex model and in close coordination with general practitioners and other medical professionals. Supporting patients' independence and capacity for self-care is a crucial component of what home care centers do.
Market Growth Drivers
The aging population in Bulgaria is increasing, leading to an increased demand for home healthcare services. Bulgaria has one of the greatest rates of depopulation in all of Europe, and just over 21% of its population is 65 years of age or older. Home healthcare is often seen as a more cost-effective solution compared to hospitalization or institutional care. The rising prevalence of chronic diseases such as diabetes and heart disease is increasing the demand for home healthcare services as they are better suited to manage and monitor these conditions on an ongoing basis. The Bulgarian government has implemented several initiatives to support the growth of the home healthcare industry, such as tax incentives for home healthcare providers and funding for medical equipment and supplies. Several companies have ventured into the delivery of medicines, further contributing to the patient-centric advantages of in-home care. Because of technological improvements, healthcare equipment is now portable, user-friendly, and more practical for patients who are at home or on the go. Awareness about the benefits of home healthcare is increasing among the Bulgarian population, leading to greater demand for these services.
The lack of skilled nursing personnel with a compassionate attitude is anticipated to slow the rate of expansion of the Bulgaria home healthcare market. Home healthcare services in Bulgaria are often limited to basic care and may not have access to specialized care such as rehabilitation or palliative care. Only a small number of publicly funded health services are available to the early 15% of the population who lack insurance. Benefits from the NHIF are only available to people who contribute to their health insurance. As a result, many people with modest salaries are expected to pay contributions but are unable to do so because the government only pays contributions to those who live in extreme poverty. The infrastructure for home healthcare services, such as medical equipment and supplies, is often inadequate in some regions of Bulgaria.
The National Health Insurance Fund (NHIF) has enlarged the scope of health benefits it offers, thanks to reforms implemented in the last ten years that also sought to raise the amount of government cash allocated to the NHIF.
Lowering the cost of medications and boosting the money earmarked for health care, as Bulgaria's public health spending is still below average for the EU (4% of GDP in 2019 compared to an average of 6% in the EU) and is still low compared to most other EU nations.
The Home Care Program provides financial support to individuals in need of home healthcare services, including those with disabilities and the elderly.
Removing co-payment requirements for those with chronic diseases and lower-income households, and substituting a small charge per prescription, for instance, for percentage co-payments for outpatient medications.
1. Executive Summary
1.1 Service Overview
1.2 Global Scenario
1.3 Country Overview
1.4 Healthcare Scenario in Country
1.5 Healthcare Services Market in Country
1.6 Recent Developments in the Country
2. Market Size and Forecasting
2.1 Market Size (With Excel and Methodology)
2.2 Market Segmentation (Check all Segments in Segmentation Section)
3. Market Dynamics
3.1 Market Drivers
3.2 Market Restraints
4. Competitive Landscape
4.1 Major Market Share
4.2 Key Company Profile (Check all Companies in the Summary Section)
184.108.40.206 Product Applications and Services
220.127.116.11 Recent Developments
18.104.22.168 Partnerships Ecosystem
22.214.171.124 Financials (Based on Availability)
5. Reimbursement Scenario
5.1 Reimbursement Regulation
5.2 Reimbursement Process for Services
5.3 Reimbursement Process for Treatment
6. Methodology and Scope
By Device Type (Revenue, USD Billion):
Based on the Device Type the market is segmented into Testing, Screening, Monitoring Devices, Therapeutic Home Healthcare Devices, and Mobility Assist.
By Service Type (Revenue, USD Billion):
By Indication Type (Revenue, USD Billion):
Insights10 will provide you with the reports within 10 key parameters which are:
Based on our many years of experience, we believe that these are the parameters that are critical to decision-making for business stakeholders. Our focused approach to developing reports focused on 10 key parameters, enabled us to arrive at the name “Insights10”.
Stage I: Market Data Collection
Primary Interviews: We have developed a network of experts, freelancers, and researchers across countries through which we engage with local experts to gather key data points and assumptions about each market. We also engage regularly with some of the best market research agencies such as Atheneum, GuidePoint, GLG, etc. to conduct surveys and interviews, and build intelligence. We have language translators as a part of our team, who between them can cover 30+ languages allowing us to extract better local insights.
Secondary Data Collection: We have developed strong expertise and experience in secondary data collection methods for developing unique data sets and research material. We gather data from multiple reliable sources to maintain a high level of accuracy and consistency. The market data is analyzed and forecasted using appropriate statistical and coherent models. The report offers an overall analysis of the market size, growth, and market share as well as a segment-level analysis of the specific market. Our report includes precise, to-the-point information related to the overall market, competition, growth drivers, challenges, regulatory updates, and competition.
Data Sources: We have access to multiple highly reliable free and subscription data sources. We have many years of experience to understand which sources are more dependable for what and which to prefer for the reliable and latest information. The key sources of information include the following, but are not limited to:
Stage II: Market Data Analysis and Statistical Model
Market Trends: We generally look at macro parameters and micro indicators. The macro parameters include changes in government policies, demand and supply of the market, government intervention programs, and major market share. The micro indicators are GDP growth, market size, market volume, etc. We also understand nuances specific to each country like the US, Canada, India, Germany, etc., and have worked across 60+ countries and hence not only understand global trends but how these differ by country, how payment models, market structure, cultural parameters, etc. differ in each country.
Market Sizing and Analysis: Our expert data analytics team has created various market forecast models by employing the top-down approach i.e. starting with the large overall market and segmenting different areas and the bottom-up approach i.e. starting with population and epidemiology and rolling up based on spend, etc., estimating the size of the market, and distributing among the geographic and/or product segments.
The top-down approach is mainly used for new product forecasting and the bottom-up approach is used for demand estimation of any product for different countries summed up to form the total market. We are able to round off insights and build stronger forecasts because we always do both these methods and triangulate the final numbers.
The study on the market covers the analysis of the leading geographies such as Asia-Pacific, Africa, Europe, Middle East, North America, and Latin America for the period of 2022 to 2030. The qualitative analysis covers the industry landscape and trends, market opportunities, competitive landscape, and policy and regulatory scenario, and the quantitative analysis covers different market estimates and forecasts.
Data Triangulation & Validation:
Data triangulation of various sources and results of the research are carried out by benchmarking with reliable sources such as industry statistics, statistical databases, and company-level averages, etc.
We make sure to finalize the numbers in alignment with the market research. Firstly, our internal experts ensure thorough validation and checking to ensure accurate and precise analysis and then validation is also done using a multiple-data analysis model. Two-level validation is done and entails the finalization of the report scope and the way of representation pattern.
Stage III: Interpretation and Presentation
Analysis & Interpretation: The information gathered is then analyzed and synthesized. The second series of interviews are done if necessary to check and validate. The future opportunities are analyzed by understanding product commercialization and many other factors. It also comprises the analysis of data discrepancies observed across various data sources. Information procured from secondary and primary results is then, interpreted by considering the following parameters: (a partial list)
Insights: Our reports deliver actionable insights backed with supporting facts and figures to assist you in achieving exemplary growth. Our in-depth analyses are interspersed with relevant insights and statistics to oﬀer an executive-level view of a given market. The description helps in correlating many minor factors affecting the market and their impact on the different segments within the market.
Data curated from the analysis and interpretation are drawn to portray all in one consolidated report.
Presentation & Reporting: The market research report is presented in different forms such as charts by using a scientific approach for easy understanding. Historic, current, and future analysis is provided for each market in terms of both value and volume. The size of the market is interpreted in the US Dollar value and the respective unit, based on the product, for volume consumption.
The foreign exchange rates are calculated on the respective dates and for the respective regions covered in the study.
We value your inquiry and offer free customization with every report to fulfil your exact research needs.
This report addresses