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2024 U.S. Industry Statistics & Market Forecast - Home Health Care Services
Market Size & Industry Statistics
The total U.S. industry market size for Home Health Care Services:
Industry statistics cover all companies in the United States, both public and private, ranging in size from small businesses to market leaders.
In addition to revenue, the industry market analysis shows information on employees, companies, and average firm size.
Investors, banks, and business executives use growth rates and industry trends to understand the market outlook and opportunity.
| Statistics | 2019 2020 2021 2022 2023 | |
|---|---|---|
| Market Size (Total Sales/Revenue) |
Order at top of page | |
| Total Firms | ||
| Total Employees | ||
| Average Revenue Per Firm | ||
| Average Employees Per Firm | ||
| Average Revenue Per Employee | ||
Market Forecast
Market forecasts show the long term industry outlook and future growth trends. The following extended five-year forecast projects both short-term and long-term trends.
| Forecast / Industry Outlook | 2024 | 2025 | 2026 | 2027 | 2028 |
|---|---|---|---|---|---|
| Market Forecast ($ millions) | |||||
| Projected Industry Growth Rate (%) | |||||
Industry Insights
Major trends affect the Home Health Care Services industry include:- Aging population
- Rise in chronic health conditions
- Technological advancements in care delivery
- Shift towards value-based care
- Regulatory changes and compliance pressures
- Increase in healthcare cost containment
- Expansion of telehealth and remote monitoring services
- Shortage of skilled healthcare professionals
- Growing consumer preference for aging in place
- Integration of AI and data analytics
- Increased focus on personalized care
- Rising investment in mobile health applications
- Expansion of service offerings to include wellness and preventive care
- Increased importance of mental health services
Product & Services Breakdown
Research products and services in the Home Health Care Services industry generating sales. Note that products are broken into categories with different levels of classification.| Product Description | Number of Companies | Sales ($ millions) | Percent of Total Sales |
|---|---|---|---|
Industry Total |
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Home Health Care Bundled Service |
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Home Health Care - With Rehabilitative Services |
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Home Health Care - Without Rehabilitative Services |
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Home Hospice (End Of Life) Care Services |
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Home Infusion Therapy Services |
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Home Respiratory Therapy Services |
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Home Nursing Care Services |
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Home Physical, Occupational, And Speech Therapy Services |
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Social Assistance Services For Elderly And Disabled Adults |
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Non-Medical Home Aide Services For Elderly And Disabled Adults - Homemaker Services (Include Prepared Meals And Delivered Meals. |
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Non-Medical Home Aide Services For Elderly And Disabled Adults - Personal Care Services |
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Home Aide Services, Excluding Elderly And Disabled Adults |
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Rental Or Lease Of Goods And/Or Equipment |
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Rental Or Lease Of - Medical Equipment |
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Resale Of Merchandise |
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Resale Of - Prescription Drugs |
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All Other Resale Of Medical Equipment And Supplies |
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All Other Receipts |
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All Other Operating Receipts |
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Contributions, Gifts, And Grants - Government |
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Contributions, Gifts, And Grants - Private |
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Investment Income, Including Interest And Dividends |
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All Other Revenue |
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U.S. Geographic Distribution: Revenue Statistics by State
Market Size by State ($ millions) indicates how the industry's competition is distributed throughout the country. State-level information can identify areas with higher and lower industry market share than average.
Income Statement (Average Financial Metrics)
Financial metrics provide a snapshot view of a benchmark "average" company. Key business metrics show revenue and operating costs. The data collected covers both public and private companies.| Industry Average | Percent of Sales (Industry Benchmark) |
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|---|---|---|
| Total Revenue | Order at top of page |
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| Operating Revenue | ||
| Cost of Goods Sold | ||
| Gross Profit | ||
Operating Expenses | ||
| Pension, profit sharing plans, stock, annuity | ||
| Repairs | ||
| Rent paid on business property | ||
| Charitable Contributions | ||
| Depletion | ||
| Domestic production activities deduction | ||
| Advertising | ||
| Compensation of officers | ||
| Salaries and wages | ||
| Employee benefit programs | ||
| Taxes and Licenses | ||
| Bad Debts | ||
| Depreciation | ||
| Amortization | ||
| Other Operating Expenses | ||
| Total Operating Expenses | ||
| Operating Income | ||
| Non-Operating Income | ||
| EBIT (Earnings Before Interest and Taxes) | ||
| Interest Expense | ||
| Earnings Before Taxes | ||
| Income Tax | ||
| Net Profit Net Income | ||
Financial Ratio Analysis
Financial ratio information can be used to benchmark how a Home Health Care Services company compares to its peers. Accounting statistics are calculated from the industry-average for income statements and balance sheets.| Profitability & Valuation Ratios | Industry Average |
|---|---|
| Company valuation can be measured based on the firm's own performance, as well as in comparison against its industry competitors. These metrics show how the average company in the Home Health Care Services industry is performing. | |
| Profit Margin Gross Profit Margin, Operating Profit Margin, and Net Profit Margin. Show company earnings relative to revenues. |
|
| Return on Equity (ROE) Return on Equity (ROE) is net income as a percentage of shareholders' equity. Shareholders' Equity is defined as the company's total assets minus total liabilities. ROE shows how much profits a company generates with the money shareholders invested (or with retained earnings). |
|
| Return on Assets (ROA) Return on Assets (ROA) is net income relative to total assets. The market research on Home Health Care Services measures how efficiently the company leverages its assets to generate profit. ROA is calculated as Net Income divided by Total Assets. |
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| Liquidity Ratios | Industry Average |
|---|---|
| Bankers and suppliers use liquidity to determine creditworthiness and identify potential threats to a company's financial viability. | |
| Current Ratio Measures a firm's ability to pay its debts over the next 12 months. |
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| Quick Ratio (Acid Test) Calculates liquid assets relative to liabilities, excluding inventories. |
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| Efficiency Ratios - Key Performance Indicators | Industry Average |
|---|---|
| Measure how quickly products and services sell, and effectively collections policies are implemented. | |
| Receivables Turnover Ratio If this number is low in your business when compared to the industry average in the research report, it may mean your payment terms are too lenient or that you are not doing a good enough job on collections. |
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| Average Collection Period Based on the Receivables Turnover, this estimates the collection period in days. Calculated as 365 divided by the Receivables Turnover |
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| Inventory Turnover A low turnover rate may point to overstocking, obsolescence, or deficiencies in the product line or marketing effort. |
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| Fixed-Asset Turnover Generally, higher is better, since it indicates the business has less money tied up in fixed assets for each dollar of sales revenue. |
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Compensation & Salary Surveys for Employees
Compensation statistics provides an accurate assessment of industry-specific jobs and national salary averages. This information can be used to identify which positions are most common, and high, low, and average annual wages.| Title | Percent of Workforce | Bottom Quartile | Average (Median) Salary | Upper Quartile |
|---|---|---|---|---|
| Management Occupations | 3% | Order at top of page |
||
| Chief Executives | 0% | |||
| General and Operations Managers | 1% | |||
| Healthcare Practitioners and Technical Occupations | 21% | |||
| Healthcare Diagnosing or Treating Practitioners | 15% | |||
| Registered Nurses | 11% | |||
| Registered Nurses | 11% | |||
| Health Technologists and Technicians | 6% | |||
| Licensed Practical and Licensed Vocational Nurses | 5% | |||
| Licensed Practical and Licensed Vocational Nurses | 5% | |||
| Healthcare Support Occupations | 64% | |||
| Home Health and Personal Care Aides; and Nursing Assistants, Orderlies, and Psychiatric Aides | 63% | |||
| Home Health and Personal Care Aides | 57% | |||
| Nursing Assistants, Orderlies, and Psychiatric Aides | 5% | |||
| Nursing Assistants | 5% | |||
| Office and Administrative Support Occupations | 6% | |||
Home Health Care Services Competitor Landscape & Key Companies [PREMIUM]
The most influential companies in the Home Health Care Services industry and adjacent industries either have large market share or are developing new business models and methods that could disrupt the status quo. We look at leading and emerging companies in the Home Health Care Services industry and adjacent sectors:| Market Leaders: Direct Competitors Companies with the largest market share, focused in this industry |
Market leaders: Diversified Competitors Largest companies that have diversified operations in this and other industries |
| Innovators: Direct Competitors Innovative, Emerging, and Disruptive Companies that may influence the future direction of the industry. |
Innovators: Diversified Competitors Innovators and Disruptors in adjacent industries that may also affect the Home Health Care Services industry. |
Source:
Innovation News
- Jun 13, 2024: Collective Health patents Data Quality Evaluation System
- Jun 06, 2024: Bluejay Therapeutics patents Indazole Pyridone Compounds And Uses Thereof
- May 23, 2024: Everly Well patents Validating A Sample Collection Device
- May 10, 2024: Bluejay Therapeutics raises $182 million in funding.
- Mar 14, 2024: OnCall Health raises $9 million in funding.
- Mar 11, 2024: Nest Healthcare raises $6 million in funding.
- Jan 24, 2024: ST. Croix Hospice Acquisition trademarks "LIGHTHOUSE END-OF-LIFE PLANNING PROGRAM" - Downloadable materials featuring tools, checklists, workbooks and guides for use in end-of-life planning.
- Jan 24, 2024: ST. Croix Hospice Acquisition trademarks "NAVIGATE: FALLS PREVENTION PROGRAM" - Fall prevention and risk assessment program for in-home hospice patients and caregivers
- Jan 19, 2024: Pivot Health Technologies trademarks "PIVOT CLEAR" - downloadable computer software for providing medical information in the field of alcohol use; downloadable computer software for providing behavior modification therapy and coaching related to health and wellness; downloadable computer software for providing behavior modification therapy and coaching related to alcohol use
Recent Federal Contracts for Home Health Care Services
- Apr 01, 2024: PROCARE HOME MEDICAL INC (Anchorage, AK) awarded $300,000
- Apr 01, 2024: ROTECH HEALTHCARE INC. (Orlando, FL) awarded $88,761
- Mar 31, 2024: SIGNIFY HEALTH, LLC (Dallas, TX) awarded $677,005
- Mar 28, 2024: SLEEP CARE, INC. (Columbus, OH) awarded $70,875
- Mar 26, 2024: SYNERGYIX CORP. (Denver, CO) awarded $120,960
- Mar 25, 2024: ITAMAR MEDICAL, INC. (Atlanta, GA) awarded $328,500
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