Market Trends of Post-acute Care (PAC) Industry
The Home Health Care Segment is Expected to Witness Significant Growth During the Forecast Period
Home health care enables individuals to access healthcare services at home. They provide various services, such as skilled nursing care, physical, occupational, and speech therapy, medication management, vital sign monitoring, and education on self-care and medical condition management. These services aim to help patients recover, manage their conditions, and uphold their independence. The segment is expected to witness significant growth owing to factors such as the rising demand for home-based care by patients, increasing rates of chronic conditions necessitating ongoing support, cost-effectiveness of home health care services, and technological advancements in home-based care systems.
Various studies have evaluated the effectiveness of home-based rehabilitation for stroke patients during the post-acute care stage. For instance, an article published in the Journal of the Formosan Medical Association in September 2023 highlighted that while home-based rehabilitation was of lower intensity and duration compared to hospital-based rehabilitation, it still led to a significant improvement in the quality of life for stroke patients in post-acute care.
In addition to the above context, home-based rehabilitation benefits the patients and alleviates the caregiving burden on their families. This approach allows patients to engage in real functional activities within their actual home environment. Consequently, the proven effectiveness of home-based post-acute care for stroke patients is expected to drive the demand for home healthcare services, subsequently fueling the segment's growth during the forecast period.
Furthermore, healthcare facilities are increasingly adopting strategic activities, such as partnerships and collaborations, to enhance home-based patient care. This trend is anticipated to drive the segment's growth in the coming years. For instance, in April 2024, SSM Health entered into an innovative partnership with Inbound Health. This collaboration is aimed at delivering tailored, in-home healthcare services to post-hospitalization patients. Through this alliance, patients will benefit from daily in-home and virtual consultations, ensuring top-tier care.
Furthermore, each patient will be equipped with a digital tablet, facilitating enhanced remote monitoring and immediate assistance from the care team. This partnership underscores a significant advancement in the company's commitment to transforming healthcare delivery. Hence, such initiatives are expected to bolster the growth of the home health care segment during the forecast period.
Therefore, owing to the rising number of research studies evaluating the effectiveness of home-based rehabilitation in post-acute care patients, the adoption of strategic activities, and the launch of online platforms for post-acute care providers, the studied segment is expected to grow during the forecast period.
North America is Expected to Hold a Significant Share in the Market During the Forecast Period
North America is expected to witness significant growth in the market during the forecast period owing to factors such as the rising burden of arthritis among the population, rising initiatives to provide post-acute care services, the launch of new hospitals, and the development of technologically advanced post-acute care systems in the region.
Musculoskeletal diseases in the United States, exacerbated by an aging demographic, are causing increasing health and economic challenges. For instance, an April 2024 article from Cureus highlighted that US researchers found a consistent rise in arthritis prevalence, and they observed that arthritis impacted over 58 million adults in the United States in 2022, and this number is projected to reach 78 million by 2040. Arthritis patients often experience pain, mobility issues, and other complications that necessitate specialized post-acute care services, including physical therapy and pain management, hence expected to bolster the market's growth during the forecast period.
Furthermore, the increasing establishment of organizations offering post-acute care services in the region is poised to drive the market's growth during the forecast period. For instance, in February 2024, TeamHealth unveiled TeamACO, an accountable care organization tailored to address the unique healthcare requirements of over 17,000 post-acute care patients across the United States. TeamACO bolsters advanced care planning and aims to minimize readmissions and assess gradual dose reductions to enhance long-term health outcomes for thousands of Medicare enrollees spanning more than 30 states. This is anticipated to bolster the demand for post-acute care services in the region, propelling the market's growth during the forecast period.
Moreover, new post-acute care hospitals are emerging in the region, broadening the spectrum of post-acute care services. This expansion is poised to drive the market's growth in the coming years. For instance, in May 2023, Inova, in collaboration with Select Medical, inaugurated the Inova Select Specialty Hospital at Inova Mount Vernon Hospital. This post-acute care facility caters to patients with specialized needs. These include post-ICU individuals recuperating from chronic and critical illnesses, such as infectious diseases and surgical complications, as well as those with orthopedic, wound, or post-trauma conditions. Additionally, the hospital offers continued treatment for pulmonary and neurological disorders, cardiac issues, and renal conditions. Such initiatives are set to bolster the market's growth during the forecast period.
Therefore, owing to the rising burden of arthritis among the population, the launch of various organizations and hospitals to provide post-acute care services, and the development of technologically advanced PAC systems by the companies, the studied market is expected to grow during the forecast period.
