Global Home Healthcare Market is growing at a rapid pace and is expected to grow at a CAGR of around 9% by the end of the forecasted period from 2016-2022.
The global home healthcare market has been examined to be rapidly growing and is expected to continue this growth in future. In the home healthcare industry, the growing interest for affordable healthcare solutions is one of the key factors driving the development of this market presently and is expected to continue this growth in the future. In the recent decade, the cost of healthcare has been rising relentlessly around the globe. In developed nations like the United States, the healthcare cost expanded quickly, and this growth is due to increment in the costs of medications, therapeutic devices, and healthcare center administrations. Home healthcare solutions includes health monitoring devices and other services that can be used by patients in the comfort of home and at a fraction of the cost compared to the cost of hospital care. Though these solutions have assured limitations in case of acute symptoms and diseases, majority of the cases can easily be solved with the help of home healthcare solutions.
It is projected that factors such as technological advancements in the field of home healthcare is expected to boost the market in the coming future. In recent times there have been growth in home healthcare devices with new devices coming in such as safety lancets which permits patients to monitor their glucose levels in their homes rather than taking help of any healthcare professional or a diagnostic center. Home Healthcare Market Growing at Rapid Pace and Reach USD 122 Billion by 2022 with CAGR of 9%
- Johnson & Johnson
- Omron Healthcare
- HTL Strefa
- Sarstead AG
- Kindred at Home
- F. Hoffmann-La Roche Ltd
- GE Healthcare
- Interim HealthCare Inc.
- Linde Group (Healthcare)
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Depending on geographic region, home healthcare market is segmented into four key regions: America, Europe, Asia-Pacific, Middle East & Africa. Globally America is the largest market for home healthcare. North American region is the leading market as countries like U.S. and Canada having strict regulation in terms of medical devices and services thus improving the quality of the devices and products, also improves the efficiency and quality of these and services offered. Europe is expected to be second largest market globally for home healthcare which is expected to continue its growth in the coming future. Asia Pacific region is expected to be fastest growing region in Home Healthcare Market.
Home healthcare market has been segmented on the basis of type which comprises of products, services, solutions and others. On the basis of applications, the market is segmented into wound care, patient education, nutrition therapy and monitoring among others.
- Home healthcare devices manufacturers and suppliers
- Research and development (R&D) companies
- Research laboratories
- Government and independent regulatory authorities
- Market research and consulting service providers
- Academic institutes and universities
- Home healthcare service providers
The market for home healthcare is growing at a rapid pace and is expected to continue its growth similarly in the coming future. Ageing population is high world-wide. The effect of ageing includes decreasing mortality and most importantly declining fertility. As per the United Nations statistics, the global ageing population (aged 60 years and over) has increased by 9.2 percent in 1990 to 11.7 per cent in 2013 and will reach 21.1 percent by 2050. As the ageing population increases, the need for home healthcare also increase since home monitoring is convenient form of health monitoring for the elderly population.
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