The 2024 Home Care Report analyzes the evolving home care landscape, examining key trends, technological advancements, and major industry players. This report explores the sector’s growth amidst recent challenges and highlights critical areas such as virtual care, remote patient monitoring, and clinical support. Additionally, the report assesses industry growth drivers, regulatory developments, and potential future trajectories in the home care sector.
This home care report serves as a reference for stakeholders within the industry, investors, policymakers, and economic analysts, providing a snapshot of the industry’s health to map its trajectory for innovation and growth in the coming years.
StartUs Insights Home Care Report 2024
- Executive Summary
- Introduction to the Home Care Report 2024
- What data is used in this Home Care Report?
- Snapshot of the Global Home Care Industry
- Funding Landscape in the Home Care Industry
- Who is Investing in Home Care Solutions?
- Emerging Trends in Home Health Care
- 5 Innovative Home Care Startups
Executive Summary: Home Health Care Industry Outlook 2024
This report is created using data obtained from the Big Data and AI-powered StartUs Insights Discovery Platform, covering more than 4.7 million global companies, as well as 20K+ technologies and emerging trends. We also analyzed a sample of 3550+ home care startups developing innovative solutions to present five examples from emerging home health care trends.
- Industry Growth: the industry’s growth has stalled at -20% per annum following the Covid pandemic. Despite the challenges, the industry continues to innovate rapidly.
- Manpower & Employment: The global workforce in home care stands at 2.8 million, with an impressive addition of 135000 employees in the last year.
- Patents & Grants: Innovation continues in the sector with over 11,100 patents and 750+ grants supporting research and development efforts.
- Global Footprint: The top country hubs are the USA, UK, India, Canada, and Australia, while New York City, London, Houston, Melbourne, and Sydney emerge as leading city hubs.
- Investment Landscape: Investment activity is strong with an average investment value of USD 27 million per round, involving over 785 investors and over 2290 funding rounds closed.
- Top Investors: Leading investors such as CIT Group, Tiger Global, and Addus Healthcare have collectively invested more than USD 1 billion.
- Startup Ecosystem: Five innovative startups featured in this report include Roger Healthcare (AI for home care), Mana Care (digital caregiver assistant), Haelan (telemedicine), Kite Therapy (child therapy solutions), and Amardent (teledentistry).
- Recommendations for Stakeholders: Investors should fund technology-driven solutions that enhance care quality and efficiency. Entrepreneurs should focus on developing products that meet the growing demand for virtual care, remote patient monitoring, and clinical support and integrations. Governments must establish supportive regulatory frameworks and provide incentives for research and development.
Explore the Data-driven Home Health Care Outlook for 2024
The Home Care Outlook for 2024 uses data from the Discovery Platform and encapsulates the key metrics that underline the sector’s dynamic growth and innovation. The database features 3551 startups among over 15200 companies, indicating substantial activity in the sector. Despite a significant industry growth decline of -20.02% last year, innovation continues with over 11100 patents. Additionally, the industry benefits from 750+ grants supporting research and development efforts.
The global workforce in home care stands at 2.8 million, with an impressive addition of 135000 employees last year. The top country hubs are the USA, UK, India, Canada, and Australia, while New York City, London, Houston, Melbourne, and Sydney emerge as leading city hubs. This heatmap emphasizes the industry’s dynamic regions, showcasing regions of high startup activity and innovation.
What data is used to create this home care technology report?
Based on the data provided by our Discovery Platform, we observe that the home care industry ranks among the top 5% in the following categories relative to all 20K topics in our database. These categories provide a comprehensive overview of the industry’s key metrics and inform the short-term future direction of the industry.
- The industry received significant news coverage, with over 15500 publications in the last year, highlighting its prominent status.
- There were more than 2200 funding rounds recorded in our database, indicating strong investor interest and financial support.
- The industry employs over 2.8 million workers, adding more than 135000 new employees in the past year, demonstrating robust job growth.
- It boasts over 11100 patents, showcasing a high level of innovation and technological advancement.
The industry received over 750 grants, underscoring the significant research and development investments. - Global search growth for the industry increased by 10.72% yearly, reflecting rising consumer interest and market expansion.
- and more. Get in touch to explore all data points used to create this home care report.
A Snapshot of the Global Home Care Industry
The home care industry has shown notable growth and investment, reflected in several key data points. Employee growth in the last year alone was 135000, highlighting the sector’s expansion and the increasing demand for home care services. With over 15200 companies operating within the industry, the landscape is diverse and competitive, driving innovation and development.
Explore the Funding Landscape of the Home Care Industry
The home care sector is attracting significant investment, with an average of USD 27 million invested per funding round. Over 785 investors are actively participating, demonstrating strong confidence in the market’s potential. The industry has successfully closed over 2290 funding rounds, underscoring the high level of financial support and interest in this sector.
This influx of capital has benefited over 900 companies, highlighting the widespread belief in the innovative capabilities and promising future of home care services. This financial backing, coupled with a growing workforce, positions the industry for continued advancement and a significant impact on global healthcare markets.
Who is Investing in Home Care Solutions?
The home care industry has attracted substantial investment from leading financial institutions and venture capital firms, demonstrating strong market confidence. The combined value invested by the top investors amounts to more than USD 1 billion. Below are the top investors and their contributions:
- CIT Group: Invested USD 275 million across 2 companies.
- Tiger Global Management: Supported 2 companies with USD 250 million.
- Addus Healthcare: Allocated USD 234 million to 4 companies.
- Avista Capital Partners: Invested USD 168 million in 2 companies.
- Paycheck Protection Program: Distributed USD 37 million across 6 companies.
- and more. Get in touch to explore all investment data in the home healthcare industry
These investments illustrate a robust financial foundation for the home care industry, fostering innovation and expansion. The involvement of such prominent investors underscores the industry’s promising future and the confidence in its ongoing development.
Access Top Home Care Innovations & Trends with the Discovery Platform
The virtual care sector is experiencing exponential growth, with 1708 companies employing 310000 individuals. Last year, the sector added 25K new jobs, and its 35.54% annual growth rate highlights the accelerating adoption of virtual healthcare services. Companies in this sector are at the forefront of providing telehealth consultations, remote diagnostics, and digital health platforms to enhance access to care and meet the evolving needs of patients.
The remote patient monitoring sector is experiencing significant growth, with 1891 companies employing 155000 people. Last year, the sector added 15K new jobs, and its 22.42% annual growth rate highlights the increasing demand for technology solutions that allow for continuous health monitoring outside of traditional healthcare settings. Companies in this space are developing innovative ways to track patient health data in real time.
The clinical support sector is experiencing significant growth, with 1564 companies employing 225000 individuals. Last year, the sector added 15K new jobs, and its 22.97% annual growth rate demonstrates the increasing need for clinical decision support systems and workflow optimization tools. Companies in this sector are focused on developing software and platforms that assist healthcare professionals in diagnosis, treatment planning, and administrative tasks.
5 Top Examples from 3550+ Innovative Home Care Startups
The five innovative startups showcased below are picked based on data including the trend they operate within and their relevance, founding year, funding status, and more. Book a platform demo to find promising startups, emerging trends, or industry data specific to your company’s needs and objectives.
Roger Healthcare builds AI for Home Care
US-based startup Roger Healthcare provides innovative home healthcare solutions. Its platform, Roger Connect, integrates advanced technology to streamline patient care at home. The platform features real-time monitoring, ensuring timely updates and accurate health data collection. Roger Connect supports telehealth services, enabling remote consultations with healthcare professionals. Additionally, the platform offers medication management, enhancing adherence to treatment plans. The system simplifies navigation for patients and caregivers alike.
Mana Care creates a Digital Caregiver Assistant
Swedish startup Mana Care offers advanced home healthcare solutions designed to enhance patient care. The company’s platform, MANA, integrates innovative technology to provide comprehensive health monitoring at home. MANA features real-time data tracking for vital signs, ensuring accurate and timely health assessments. The platform includes an intuitive user interface, making it accessible for patients and care workers. Additionally, MANA supports remote consultations, facilitating communication between patients and healthcare providers.
Haelan specializes in Telemedicine Solutions
Haelan is a Bulgarian startup that offers innovative telemedicine solutions for home healthcare. The company’s platform provides remote consultations, connecting patients with healthcare professionals for timely medical advice. Haelan’s technology integrates video conferencing, secure messaging, and electronic health records for comprehensive patient care. The platform supports remote diagnostics, allowing doctors to monitor patient’s conditions in real time. Additionally, Haelan enables prescription management and delivery services, ensuring patients receive their medications promptly.
Kite Therapy provides Home Therapy for Children
Australian startup Kite Therapy offers innovative home healthcare solutions for children with developmental challenges. The company’s platform provides personalized therapy sessions delivered by qualified professionals through digital channels. Kite Therapy’s technology supports various therapeutic needs, including speech, occupational, and behavioral therapy, ensuring comprehensive care. The platform features interactive tools and resources to engage children and track their progress. The system ensures data security and confidentiality, maintaining high standards of patient privacy.
Amardent provides Teledentistry Solutions
Amardent is a US-based startup that offers advanced teledentistry solutions to enhance dental care accessibility and convenience. Its platform, Amardent, facilitates remote dental consultations. The platform provides real-time video consultations, allowing dentists to diagnose and advise patients from a distance. Amardent’s digital tools enable patients to share dental images and records securely with their dentists. The platform includes features for appointment scheduling, treatment planning, and follow-up care.
Gain Comprehensive Insights into Home Healthcare Trends, Startups, or Technologies
The 2024 Home Care Industry Report reveals a sector undergoing significant transformation. Technological innovations in virtual care, remote patient monitoring, and clinical support are reshaping service delivery and driving growth. Despite recent challenges, strong investment and increasing demand for home care services point to a promising future. Contact us to explore all 3550+ startups and scaleups, as well as all industry trends impacting home care companies.
