North America home healthcare market was valued at USD 756.8 million in
2014. Rising aging human population, high disposable income for healthcare
expenditure, and increasing rate of target diseases are some of the key factors
driving growth. Predominance of chronic diseases, and increasing diagnosis
expenditure is anticipated to boost growth.
Personalized medical assistance is a cost
effective measure to control treatment expenditure and acts as major driver for
the industry. According to the U.S. Bureau of Labor Statistics (USBLS),
personal care and healthcare assistance in a home-setting environment is
anticipated to reach a value of USD 13 million by 2020, an increase of 70% from
2010 to 2020.
The home healthcare industry is anticipated to be
majorly driven by the huge aging population volume which is highly prone to
various diseases such as venous stasis ulcers, diabetic ulcers, and pressure
ulcers. According to WHO, the global volume of population falls under the age
group of 60 years and above has reached 841 million in 2014 and is expected to
reach 2 billion by 2050. Therefore, rising global aging-population along with
the statistics that approximately 70% of home healthcare patients belong to 65
years and above age group, is anticipated to fuel demand in the near future.
View
summary of this report @ http://www.grandviewresearch.com/industry-analysis/north-america-home-healthcare-market
Further key findings from the report
suggest:
·
Wound care accounted for 65% of the global market
revenue in 2014. Substantial demand for wound closures, wound care dressings,
and wound cleanser has resulted in the dominance of the segment over the past
few years and this trend is expected to continue over the forecast period.
Wound infection is a key safety concern for medical professionals and patients,
thus the market is anticipated to fuel the demand as it compelled to reduce the
infection rates. Wound care products improve the overall health of patients
affected from various disorders such as, diabetic ulcers, pressure ulcers and
venous stasis ulcers, therefore creating strong need for these products in the
industry.
·
Rising number of geriatric patients with growing
awareness about personal safety and hygiene is further expected to intensify
home healthcare service demand in the North America. Mattress overlays and
wound care together are projected to capture more than 85% of the overall
market share by 2022.
·
Home care service dominated the global industry
accounting for 32.0% in 2014 owing to rising number of geriatric patients. This
service provides several benefits such as personalized care, familiar
surroundings, and low treatment cost. On the other hand, durable medical
equipment (DME) which includes mobility support is anticipated to witness attractive
growth in the coming years owing to their increasing utilization for long term
medical care coupled with provision of favorable repayment facility on these
devices.
·
The U.S. lead the home healthcare market in
North America with more than 80% share. Large base of aging population, growing
healthcare infrastructure and high purchasing power are some of the key factors
driving growth. Moreover, favorable government initiatives aimed at controlling
treatment expenditure by promoting home care services is anticipated to fuel
growth. According to the PRB (Population Reference Bureau), at present,
approximately 50 million citizens of North America are over 65 years and the
number is projected to reach to 89 million by 2050.
·
Major market participants in this industry
include Medline Industries, Invacare, Stryker, Johnson & Johnson, Hill-Roam
Holdings, Smith & Nephew, Span America, Kinetic Concepts, ConvaTec, and
Molyncke HealthCare. The market is characterized by strategic alliance,
innovative product launch, and mergers & acquisitions.
Browse All Reports of
this category @ http://www.grandviewresearch.com/industry/medical-devices
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company provides syndicated research reports, customized research reports, and
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company offers market intelligence studies ensuring relevant and fact-based
research across a range of industries including technology, chemicals,
materials, healthcare and energy.
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