The Global Home Healthcare Market is expected to reach USD 355.3 billion by 2020, growing at an estimated CAGR of 7.8% from 2014 to 2020, according to a new study by Grand View Research, Inc. Home healthcare products are generally applied to a broad range of equipment and services designed for exclusive use for home or other non-medical establishments by non-professional caregivers, family members, or the patients themselves. Increasing adoption of telehealth and other emerging healthcare technologies are expected to drive market growth over the forecast period. Home healthcare is rapidly getting adopted as a cost effective alternative to healthcare establishment based therapy and therefore, growing geriatric population base and prevalence of chronic conditions requiring long term care is also expected to have a positive impact on growth. Presence of untapped potential in emerging markets such as India, Brazil and China and increasing health awareness are expected to serve this market as future growth opportunities.
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summary of this report @ http://www.grandviewresearch.com/industry-analysis/home-healthcare-industry
Further key findings from the study suggest:
·
Home healthcare services dominated the overall
market, accounting for over 85% of global revenue in 2013, due to increasing
demand for Infusion therapy services and telemetry.
·
Infusion therapy is expected to be the fastest
growing services market, at an estimated CAGR of 11.7% from 2014 to 2020.
Increasing initiatives undertaken by healthcare service providers to curb costs
associated with specialty drugs and by retail pharmacies to render efficient
chronic disease management solutions are some of the drivers of this market.
·
Home healthcare based diagnostics dominated the
product market in terms of share at 41.4% in 2013. Growing prevalence diabetes
and cardiovascular diseases and the consequent rise in demand for constant
patient monitoring is one of the major factors attributing to its large share.
·
North America was the largest regional market in
2013, accounting for over 40% of the revenue. Presence of sophisticated
healthcare and reimbursement infrastructure, high patient awareness levels and
healthcare expenditure are some of the factors accounting for its large share.
In addition, increasing R&D initiatives aimed at developing new products
suitable for use in home healthcare environments is expected to boost market
demand in this region.
·
Asia Pacific home healthcare market is expected
to grow at the fastest CAGR of 9.7% from 2014 to 2020 majorly owing to high
unmet medical needs coupled with rapidly improving healthcare infrastructure in
emerging markets of India and China. Presence of a large geriatric population
base in Japan is also expected to drive regional market growth during the
forecast period.
·
Key industry participants of this market include
Almost Family Inc., B. Braun Melsungen AG, Abbott Laboratories, Sunrise Medical
Inc., 3M healthcare, Baxter international Inc., Medtronic Inc., Cardinal health
Inc., Roche diagnostics corp., Air liquid, Arcadia resources, Inc., Bayer
healthcare AG, Amedisys, Inc., Nxstage Medical, Inc., Arkray Inc., Apria
healthcare group, Odyssey Healthcare Inc., Medline Industries Inc., Philips healthcare,
Medco Health Solutions Inc., Graham-Field health products Inc., Hill-Rom
holdings Inc., Gentiva health services Inc., Johnson & Johnson, Linde
Healthcare, Lincare holdings Inc. and Kinetic concepts .
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For the purpose of this study, Grand View Research has segmented the home healthcare market on the basis of product, services and region:
Home Healthcare Product Outlook
• Therapeutic equipment
• Home respiratory therapy equipment
• Home insulin delivery devices
• Home IV pumps
• Other therapeutic equipment
• Home dialysis equipment
• Home diagnostic equipment
• Home diabetes care devices
• Home blood pressure monitors
• Home multi-parameter patient monitors
• Home pregnancy and fertility tests
• Other self monitoring equipment
• Apnea and sleep monitors
• Holter monitors
• Heart rate meters
• Mobility assist and other equipment
• Wheelchairs and related devices
• Home medical furniture
• Walking assist devices
Home Healthcare Service Outlook
• Rehabilitation service providers
• Unskilled home care
• Respiratory therapy services
• Infusion therapy
• Telemetry
Home Healthcare Regional Outlook
• North America
• Europe
• Asia Pacific
• RoW
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more reports of this category by Grand View Research: http://www.grandviewresearch.com/industry/medical-devices
About Grand View
Research
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View Research, Inc. is a U.S. based market research and consulting company,
registered in the State of California and headquartered in San Francisco. The
company provides syndicated research reports, customized research reports, and
consulting services. To help clients make informed business decisions, the
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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