UK's home healthcare market is projected to grow from $9.429 Bn in 2022 to $14.494 Bn by 2030, registering a CAGR of 5.93% during the forecast period of 2022-30. The demand for home healthcare systems in the UK has been significantly impacted by the rising prevalence of chronic diseases. One of the main reasons for the expansion of the UK home healthcare business has been the rise in mergers and acquisitions. Some key players in the UK home healthcare market include Bupa, Care UK, Barchester Healthcare, Four Seasons Health Care, and HC-One.
UK's home healthcare market is projected to grow from $9.429 Bn in 2022 to $14.494 Bn by 2030, registering a CAGR of 5.93% during the forecast period of 2022-30.
With 67 Mn citizens and a GDP of $3200 Bn (2021), the United Kingdom is a significant global commercial force and has the fifth-largest economy in the world, according to the World Bank. The United Kingdom has the second-largest economy in Europe and topped the G7 in GDP growth in 2021 despite being geographically tiny (it is roughly the size of Oregon). Healthcare's contribution to GDP increased from 10.2% in 2019 to over 12.8% in 2020. Furthermore, the UK continues to be a crucial market for American exports of goods and services despite the difficulties and ambiguity brought on by the UK's exit from the European Union (also known as "Brexit"), high inflation brought on by rising energy prices, and the COVID-19 epidemic. In 2021, U.S. exports of goods and services to the UK were $129.3 Bn, an increase of 7.6% from the previous year. This put the UK in seventh place among countries that receive American exports of products and in first place among countries that receive American exports of services.
The demand for home healthcare systems in the UK has been significantly impacted by the rising prevalence of chronic diseases. The cost of hospital stays has decreased as a result of the adoption of home healthcare systems. Incontinence, ostomies, and other chronic disorders with rising incidences have increased demand for home healthcare items in the UK. The UK home healthcare market has expanded as a result of the substitution of conventional methods with home healthcare systems.
Market Growth Drivers
The increasing use of home healthcare technology has increased the demand for effective and reliable solutions. Companies have been implementing novel techniques to address the growing wants of consumers. One of the main reasons for the expansion of the UK home healthcare business has been the rise in mergers and acquisitions.
Key Players
Some of the major players operating in the U.K. home healthcare market:
Other notable players include government-funded organizations such as the National Health Service (NHS) and private home healthcare providers such as Prestige Nursing + Care and Bluebird Care. Additionally, a number of non-profit organizations also provide home healthcare services in the UK.
The National Health Service ("NHS"), which is a comprehensive and intricate healthcare system in the UK, pays for the vast majority of patient-prescribed medications.
Because of the system's complexity, there is neither a single route to NHS reimbursement for a medication nor an all-inclusive reimbursement list. The setting in which the NHS employs a product will frequently determine whether and how the NHS funds it. The National Institute for Health and Care Excellence's ("NICE") recommendations are crucial in determining whether the NHS would endorse a product's use. The UK has mechanisms and programs for brand-name drug price management but generally leaves the cost of generic pharmaceuticals up to market forces.
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)
4.2.1 Company
4.2.1.1 Overview
4.2.1.2 Product Applications and Services
4.2.1.3 Recent Developments
4.2.1.4 Partnerships Ecosystem
4.2.1.5 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):
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