Home Care Providers in the US - Market Research Report (2014-2029)
New York, United States
Last Updated: August 2024
NAICS 62161Revenue
$137.2bn
Past 5-Year Growth
Profit
$X.Xbn
Employees
2m
Businesses
520k
Wages
$XX.Xbn
Home Care Providers in the US industry analysis
Home care providers support the overall health and well-being of millions in the US annually. This number has been growing fast, expanding the scale and scope of home care providers in recent years. A rising number of adults 65 and older has been the primary driver behind this, as older adults are at a higher risk of developing a condition or experiencing an injury that limits their ability to perform tasks they once did independently. While changing demographic trends are an overarching trend impacting the health sector, the pandemic has permanently altered the industry's trajectory. Widespread outbreaks at residential facilities in the first year of the pandemic led more people to value remaining in their homes as they age; the interest in aging-in-place has only grown even as pandemic concerns have dissipated as older adults look for options that offer safety and independence. In all, revenue has been expanding at a CAGR of 1.9% to an estimated $137.2 billion over the past five years, including expected growth of 0.6% in 2024.
Trends and Insights
- Home care is one of the fastest-growing industries in the health sector. A growing baby boomer population, longer life expectations, preferences to age-in-place and the pandemic’s impact on nursing facilities are behind the industry’s momentum.
- Medicare is the largest payer of home care in the US. Medicare provides health coverage for people aged 65 and older, increasing the volume of Medicare reimbursements as the size of this age group has expanded.
- The distribution of home care providers closely tracks population trends. Higher concentrations of home care agencies are found in densely populated areas, while much fewer are found in rural areas.
- Evolving competitive forces are challenging the industry’s status quo. Accelerating consolidation strengthens the power of larger regional and national chains, while smaller, independent providers struggle to keep pace with financial, labor and regulatory hurdles.
Industry Overview
Market size and recent performance (2014-2029)
Industry revenue has grown at a CAGR of 1.9 % over the past five years, to reach an estimated $137.2bn in 2024.
Trends and Insights
An exploding demand for home care drives growth
- The US population is getting older – with 18.0% of the population aged 65 or older in 2024. Older adults are more prone to illness or injury that impacts their physical or cognitive ability, creating a large and expanding need for comprehensive home health care services to manage health conditions and assist with daily activities, like laundry or grocery shopping.
- Additional trends and insights available with purchase
Source: IBISWorld
Industry outlook (2024-2029)
Market size is projected to grow over the next five years.
Trends and Insights
Steller performance will continue but not without challenges
- Strong and steady revenue growth is expected for the home care service providers as COVID-19 ushered in some changes to needs and methods for delivery. The aging population feels more comfortable utilizing industry services and new medical technologies (wearables, telehealth) allow home care providers to do some heavy lifting.
Biggest companies in the Home Care Providers in the US
| Company | Market Share (%)
2024 | Revenue ($m)
2024 | Profit ($m)
2024 | Profit Margin (%)
2024 |
|---|---|---|---|---|
Interim HealthCare Inc. | 2,337.9 | 133.3 | 5.7 | |
Amedisys, Inc. | 2,192.9 | 245.9 | 11.2 | |
Lincare Holdings Inc. | 227.1 | 124.7 | 54.9 |
To view the market share and analysis for all 10 top companies in this industry, view purchase options.
Products & Services Segmentation
Source: IBISWorld
Industry revenue is measured across several distinct product and services lines, including Traditional home healthcare and home nursing care, Home hospice and Homemaker and personal services. Traditional home healthcare and home nursing care is the largest segment of the Home Care Providers in the US.
Trends and Insights
Traditional home health and home nursing care services account for the lion's share of revenue
- Traditional home healthcare and nursing includes medical care provided in a patient's home by healthcare professionals and includes medical services like medical or psychological assessment, wound care and pain treatment, disease and medication management and education.
- More insights available in the full report
Widen you competitive advantage with related industries
Competitors
- Nursing Care Facilities in the US
- Residential Intellectual Disability Facilities in the US
Complementors
- Primary Care Doctors in the US
- Specialist Doctors in the US
- Physical Therapists in the US
- Mental Health & Substance Abuse Clinics in the US
- Hospitals in the US
International industries
- Home Care Providers in Canada
- Aged Care Residential Services in Australia
- Specialist Medical Practices in the UK
- Health Clinics in China
Table of Contents
About this industry
Industry definition
Home care providers are individuals or organizations that offer various supportive services delivered in a person's home to assist with daily activities, health management and overall well-being. Home care providers care for individuals who require assistance due to age, illness, disability or other limitations.
What's included in this industry?
Providing traditional home healthcare and home nursing careProviding home hospice servicesProviding homemaker and personal servicesProviding miscellaenous assistance with daily activities and health managementProviding home therapy servicesCompanies
Interim HealthCare Inc.Amedisys, Inc.Lincare Holdings Inc.Purchase this report to view all 10 major companies in this industry.
Related Terms
DURABLE MEDICAL EQUIPMENTHOSPICECHRONIC DISEASE MANAGEMENTTELEHEALTHELECTRONIC DATA INTERCHANGEIndustry Code
NAICS 62161 - Home Care Providers in the US
Performance
Get an indication of the industry's health through historical, current and forward-looking trends in the performance indicators that make or break businesses.
Analyst insights
Home care is one of the fastest-growing industries in the health sector. A growing baby boomer population, longer life expectations, preferences to age-in-place and the pande...
In this chapter (4)
- Current Performance
- Outlook
- Volatility
- Life Cycle
Key metrics
- Annual Revenue, Recent Growth, Forecast, Revenue Volatility
- Number of Employees, Recent Growth, Forecast, Employees per Business, Revenue per Employee
- Number of Businesses, Recent Growth, Forecast, Employees per Business, Revenue per Business
- Total Profit, Profit Margin, Profit per Business
Charts
- Revenue, including historical (2014-2023) and forecast (2024-2029)
- Employees, including historical (2014-2023) and forecast (2024-2029)
- Businesses, including historical (2014-2023) and forecast (2024-2029)
- Profit, including historical (2014-2024)
- Industry Volatility vs. Revenue Growth
- Industry Life Cycle
Detailed analysis
- Trends in supply, demand and current events that are driving current industry performance
- Expected trends, economic factors and ongoing events that drive the industry's outlook
- Key success factors for businesses to overcome volatility
- How contribution to GDP, industry saturation, innovation, consolidation, and technology and systems influence the industry's life cycle phase.
Products and Markets
Learn about an industry's products and services, markets and trends in international trade.
Analyst insight
Medicare is the largest payer of home care in the US. Medicare provides health coverage for people aged 65 and older, increasing the volume of Medicare reimbursements as the ...
In this chapter
- Products & Services
- Major Markets
Key metrics
- Largest market segment and value in 2024
- Product innovation level
Charts
- Products & services segmentation in 2024
- Major market segmentation in 2024
Detailed analysis
- Trends impacting the recent performance of the industry's various segments
- Innovations in the industry's product or service offering, specialization or delivery method
- Key factors that successful businesses consider in their offerings
- Buying segments and key trends influencing demand for industry products and services
Geographic Breakdown
Discover where business activity is most concentrated in an industry and the factors driving these trends to find opportunities and conduct regional benchmarking.
Analyst insights
The distribution of home care providers closely tracks population trends. Higher concentrations of home care agencies are found in densely populated areas, while much fewer a...
In this chapter (1)
- Business Locations
Charts
- Share of revenue, establishment, wages and employment in each state
- Share of population compared to establishments in each region in 2024
Tables
- Number and share of establishments in each state in 2024
- Number and share of revenue each state accounts for in 2024
- Number and share of wages each state accounts for in 2024
- Number and share of employees in each state in 2024
Detailed analysis
- Geographic spread of the industry across North America, and trends associated with changes in the business landscape
- Key success factors for businesses to use location to their advantage
Competitive Forces
Get data and insights on what's driving competition in an industry and the challenges industry operators and new entrants may face, with analysis built around Porter's Five Forces framework.
Analyst insights
Evolving competitive forces are challenging the industry’s status quo. Accelerating consolidation strengthens the power of larger regional and national chains, while smaller,...
In this chapter (4)
- Concentration
- Barriers to Entry
- Substitutes
- Buyer & Supplier Analysis
Key metrics
- Industry concentration level
- Industry competition level and trend
- Barriers to entry level and trend
- Substitutes level and trend
- Buyer power level and trend
- Supplier power level and trend
Charts
- Market share concentration among the top 4 suppliers from 2019-2024
- Supply chain including upstream supplying industries and downstream buying industries, flow chart
Detailed analysis
- Factors impacting the industry’s level of concentration, such as business distribution, new entrants, or merger and acquisition activity.
- Key success factors for businesses to manage the competitive environment of the industry.
- Challenges that potential industry entrants face such as legal, start-up costs, differentiation, labor/capital intensity and capital expenses.
- Key success factors for potential entrants to overcome barriers to entry.
- Competitive threats from potential substitutes for the industry’s own products and services.
- Key success factors for how successful businesses can compete with substitutes.
- Advantages that buyers have to keep favorable purchasing conditions.
- Advantages that suppliers have to maintain favorable selling conditions.
- Key success factors for how businesses can navigate buyer and supplier power.
Companies
Learn about the performance of the top companies in the industry.
Analyst insights
Home care agencies operate in a fragmented industry. No single home care provider controls more than 5.0% of the market, although consolidation activity is leading some agenc...
In this chapter
- Market Share Concentration
- Companies
- Company Spotlights
Charts
- Industry market share by company in 2020 through 2024
- Major companies in the industry, including market share, revenue, profit and profit margin in 2024
- Overview of Interim HealthCare Inc.'s performance by revenue, market share and profit margin from 2018 through 2024
- Overview of Amedisys, Inc.'s performance by revenue, market share and profit margin from 2018 through 2024
- Overview of Lincare Holdings Inc.'s performance by revenue, market share and profit margin from 2018 through 2024
- Overview of revenue, market share and profit margin trend for 7 additional companies
Detailed analysis
- Description and key data for Interim HealthCare Inc., and factors influencing its performance in the industry
- Description and key data for Amedisys, Inc., and factors influencing its performance in the industry
- Description and key data for Lincare Holdings Inc., and factors influencing its performance in the industry
- Description, key data and performance trends for 7 additional companies
External Environment
Understand the demographic, economic and regulatory factors that shape how businesses in an industry perform.
Analyst insights
Industry stakeholders are calling on the government to aid in supporting home care. A lack of national standards and low caregiver salaries are two main problems that could r...
In this chapter
- External Drivers
- Regulation & Policy
- Assistance
Key metrics
- Regulation & policy level and trend
- Assistance level and trend
Charts
- Regulation & Policy historical data and forecast (2014-2029)
- Assistance historical data and forecast (2014-2029)
Detailed analysis
- Demographic and macroeconomic factors influencing the industry, including Regulation & Policy and Assistance
- Major types of regulations, regulatory bodies, industry standards or specific regulations impacting requirements for industry operators
- Key governmental and non-governmental groups or policies that may provide some relief for industry operators.
Financial Benchmarks
View average costs for industry operators and compare financial data against an industry's financial benchmarks over time.
Analyst insights
Caregiver wages are the single-largest expense for home care agencies. Agencies already pay more for labor than any other expense, so caregivers’ growing demand for higher wa...
In this chapter
- Cost Structure
- Financial Ratios
- Key Ratios
Key metrics
- Profit margin, and how it compares to the sector-wide margin
- Average wages, and how it compares to the sector-wide average wage
- Largest cost component as a percentage of revenue
- Industry average ratios for days' receivables, industry coverage and debt-to-net-worth ratio
Charts
- Average industry operating costs as a share of revenue, including purchases, wages, depreciation, utilities, rent, other costs and profit in 2024
- Average sector operating costs as a share of revenue, including purchases, wages, depreciation, utilities, rent, other costs and profit in 2024
- Investment vs. share of economy
Data tables
- Industry Multiples (2017-2022)
- Industry Tax Structure (2017-2022)
- Income Statement (2017-2022)
- Balance Sheet (2017-2022)
- Liquidity Ratios (2017-2022)
- Coverage Ratios (2017-2022)
- Leverage Ratios (2017-2022)
- Operating Ratios (2017-2022)
- Cash Flow & Debt Service Ratios (2014-2029)
- Revenue per Employee (2014-2029)
- Revenue per Enterprise (2014-2029)
- Employees per Establishment (2014-2029)
- Employees per Enterprise (2014-2029)
- Average Wage (2014-2029)
- Wages/Revenue (2014-2029)
- Establishments per Enterprise (2014-2029)
- IVA/Revenue (2014-2029)
- Imports/Demand (2014-2029)
- Exports/Revenue (2014-2029)
Detailed analysis
- Trends in the cost component for industry operators and their impact on industry costs and profitability
Key Statistics
Industry Data
Data Tables
Including values and annual change:
- Revenue (2014-2029)
- IVA (2014-2029)
- Establishments (2014-2029)
- Enterprises (2014-2029)
- Employment (2014-2029)
- Exports (2014-2029)
- Imports (2014-2029)
- Wages (2014-2029)
Methodology
How are IBISWorld reports created?
IBISWorld has been a leading provider of trusted industry research for over 50 years to the most successful companies worldwide. With offices in Australia, the United States, the United Kingdom, Germany and China, we are proud to have local teams of analysts that conduct research, data analysis and forecasting to produce data-driven industry reports.
Our analysts start with official, verified and publicly available sources of data to build the most accurate picture of each industry. Analysts then leverage their expertise and knowledge of the local markets to synthesize trends into digestible content for IBISWorld readers. Finally, each report is reviewed by one of IBISWorld’s editors, who provide quality assurance to ensure accuracy and readability.
IBISWorld relies on human-verified data and human-written analysis to compile each standard industry report. We do not use generative AI tools to write insights, although members can choose to leverage AI-based tools within the platform to generate additional analysis formats.
What data sources do IBISWorld analysts use?
Each industry report incorporates data and research from government databases, industry-specific sources, industry contacts, and our own proprietary database of statistics and analysis to provide balanced, independent and accurate insights.
Key data sources in the US include:
- US Census Bureau
- US Bureau of Labor Statistics
- US International Trade Commission
Analysts also use industry specific sources to complement catch-all sources, although their perspective may focus on a particular organization or representative body, rather than a clear overview of all industry operations. However, when balanced against other perspectives, industry-specific sources provide insights into industry trends.
These sources include:
- Industry and trade associations
- Industry federations or regulators
- Major industry players annual or quarterly filings
Finally, IBISWorld’s global data scientists maintain a proprietary database of macroeconomic and demand drivers, which our analysts use to help inform industry data and trends. They also maintain a database of statistics and analysis on thousands of industries, which has been built over our more than 50-year history and offers comprehensive insights into long-term trends.
How does IBISWorld forecast its data?
IBISWorld’s analysts and data scientists use the sources above to create forecasts for our proprietary datasets and industry statistics. Depending on the dataset, they may use regression analysis, multivariate analysis, time-series analysis or exponential smoothing techniques to project future data for the industry or driver. Additionally, analysts will leverage their local knowledge of industry operating and regulatory conditions to impart their best judgment on the forecast model.
IBISWorld prides itself on being a trusted, independent source of data, with over 50 years of experience building and maintaining rich datasets and forecasting tools. We are proud to be the keystone source of industry information for thousands of companies across the world.
Learn more about our methodology and data sourcing on the Help Center.
Frequently Asked Questions
Unlock comprehensive answers and precise data upon purchase. View purchase options.
What is the market size of the Home Care Providers in the US industry in United States in 2024?
The market size of the Home Care Providers in the US industry in United States is $137.2bn in 2024.
How many businesses are there in the Home Care Providers in the US industry in 2024?
There are 520k businesses in the Home Care Providers in the US industry in United States, which has grown at a CAGR of 6.3 % between 2019 and 2024.
Has the Home Care Providers in the US industry in United States grown or declined over the past 5 years?
The market size of the Home Care Providers in the US industry in United States has been growing at a CAGR of 1.9 % between 2019 and 2024.
What is the forecast growth of the Home Care Providers in the US industry in United States over the next 5 years?
Over the next five years, the Home Care Providers in the US industry in United States is expected to grow.
What are the biggest companies in the Home Care Providers in the US market in United States?
The biggest companies operating in the Home Care Providers market in United States are Interim HealthCare Inc., Amedisys, Inc. and Lincare Holdings Inc.
What does the Home Care Providers in the US in United States include?
Providing traditional home healthcare and home nursing care and Providing home hospice services are part of the Home Care Providers in the US industry.
Which companies have the highest market share in the Home Care Providers in the US in United States?
The company holding the most market share in United States is Interim HealthCare Inc..
How competitive is the Home Care Providers in the US industry in United States?
The level of competition is high and steady in the Home Care Providers in the US industry in United States.
