Over the course of the forecast period, it is anticipated that the rising trend of nuclear families and solitary lifestyles would drive growth of the worldwide health caregiving market. Families tend to be more nuclear in nature. This should create a favourable atmosphere for market expansion. Over the course of the projection period, rising smartphone adoption is anticipated to fuel market growth for health care providers worldwide.
The market for providing Health Care is anticipated to reach a value of US$ 185.1 billion in 2023 and grow at a CAGR of 12.2% from that year through 2030.
Top Companies in the Health Caregiving Industry:
1. Honor Technology, Inc.: Established in 2014. United States headquarters. Owner of a home care network that provides skilled, knowledgeable in-home care for senior citizens. With the help of an integrated system of third-party care providers, the company's offerings enable older adults to live securely and comfortably in their own homes by giving them access to scalable workforce management, technology expertise, and personalised care. The largest senior care network and technology platform in the world, Honour Technology, Inc., recently purchased the international provider of home care, Home Instead, and in 2021 announced it had obtained $70 million in Series E capital and $300 million in debt financing.
2. Vesta Healthcare (Hometeam Care, Inc.): Established in 2013. United States headquarters. Insights from carers were intended to be shared with the rest of the care team by the operator of the clinical services organisation. The business collaborates with providers, health plans, and home care agencies to develop value-based population health programmes that prioritise clinical quality, better health outcomes, and personalised engagement. These programmes offer round-the-clock telehealth support for carers and care recipients for frail senior populations. Vesta Healthcare has taken the place of Hometeam Technologies, Inc. (d/b/a HT Health), a technology and clinical services company devoted to assisting carers and connecting their insights to the rest of the care team through the Hometeam Programme.
3. HomeHero, Inc.: Established in 2013. Located in England, in the United Kingdom. Administrator of a platform for managing all aspects of home life. The company's platform enables consumers to receive all services from a single supplier, save time and money, and manage energy bills, domestic tasks, and home repairs under one roof with low operating expenses and online specialists available for live chat. HomeHero, the startup formerly hailed as an industry "disruptor" for its business approach of directly pairing clients with carers, is being given new life by a technology-enabled home care provider.
4. GreatCall, Inc.: Founded in 2006. United States headquarters. Developer of products and applications for older consumers that run on mobile platforms. Providing connected health and personal emergency response services (PERS) for active ageing to over 900,000 subscribers across the United States, the company's line of user-friendly mobile products, which includes mobile devices, cellular service, mobile apps, and wearable devices, enables them to live more independently. Its solutions offer hardware that is suitable for seniors together with one-touch connectivity to trained agents who can respond to inquiries, send help in an emergency, connect with family carers, and offer extra concierge services. Leading private equity company GTCR declared in 2018 that it has finalised an agreement to sell GreatCall, Inc. to Best Buy for an amount of $800 million in cash.
5. Cariloop, Inc.: Established in 2012. United States headquarters. Creator of a tool for supporting carers that allows users to plan for and handle all part of their caring journey. The business's platform includes a cloud-based app that enables families to securely communicate across all devices and store crucial legal, financial, and health documents while having on-demand access to a dedicated care coach who can offer users advice on a variety of decisions over the course of their caregiving journey. Cariloop, a provider of caregiving support, today declared the closing of a $15 million Series B round of funding. The firm matches carers and their families with devoted Care Coaches to help them plan for and manage the health and well-being of their loved ones.
6. Room2Care, Ltd.: Established in 2014. United States headquarters. Owner of a platform for senior care that aims to reinvent senior life. The company's marketplace links elders with carers who charge a fee and provide basic care and supervision, enabling elderly people to live with other generations. Affiliated funds administered by Carlyle have agreed to purchase CNSI from Alvarez & Marsal Capital Partners, according to a 2021 announcement from the international investment firm Carlyle (NASDAQ: CG).
7. Care.com: Established in 2006. Developer of an internet-based system for matching families and carers. The company focuses on matching families with carers who are uniquely suited to their children, senior loved ones, pets, and homes. Its services and tools meet families where they are and adapt to their changing needs, allowing users to manage children, senior loved ones, pets, and homes. The company offers household tax and payroll services as well as customised corporate benefits packages covering the care needs of working families via an online platform or corporate clients. The conclusion of IAC's acquisition of Care.com, Inc. was announced in 2021.
*Definition : A person who gives care to people who need help taking care of themselves. Examples include children, the elderly, or patients who have chronic illnesses or are disabled.
