Growing geriatric population base and prevalence of chronic conditions requiring long term care is expected to drive market growth
San Francisco, California (PRWEB) September 09, 2014
The global market for home health care 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 health care 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.
The report “Home Healthcare Market Analysis By Product (Therapeutic, Diagnostic Equipment, Mobility Assist, Diabetes Monitor, Intravenous Pumps, Holter Monitors, Heart Rate Meters, Wheel Chairs), By Service (Rehabilitation Services, Unskilled Home Care, Respiratory Therapy, Infusion Therapy, Telemetry) And Segment Forecasts To 2020,” is available now to Grand View Research customers at http://www.grandviewresearch.com/industry-analysis/home-healthcare-industry
Request Free Sample of This Report at http://www.grandviewresearch.com/industry-analysis/home-healthcare-industry/request
Further key findings from the study suggest:
- Home health care 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 health care 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 health care 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. The 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 health care, 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 .
Browse All Reports of This Category by Grand View Research at http://www.grandviewresearch.com/industry/medical-devices
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
- Home Healthcare Regional Outlook
• North America
• Asia Pacific
Browse All Ongoing Reports by Grand View Research at http://www.grandviewresearch.com/ongoing-reports
About Grand View Research
Grand View Research, Inc. is a market research and consulting company that provides off-the-shelf, customized research reports and consulting services. To help clients make informed business decisions, we offer market intelligence studies ensuring relevant and fact-based research across a range of industries, from technology to chemicals, materials and energy. With a deep-seated understanding of varied business environments, Grand View Research provides strategic objective insights. For more information, visit http://www.grandviewresearch.com/
Corporate Sales Specialist, USA
Grand View Research, Inc
mHealth Market Analysis And Segment Forecasts To 2020 - http://www.grandviewresearch.com/industry-analysis/mhealth-market
The global market for mHealth (Mobile health) is expected to reach USD 49,119.2 million by 2020, according to a new study by Grand View Research, Inc. Monitoring services is expected to remain the dominant and fastest growing market segment
Atrial Fibrillation Market Analysis By Procedure And Segment Forecasts To 2020 - http://www.grandviewresearch.com/industry-analysis/atrial-fibrillation-treatment-industry
The global market for atrial fibrillation procedures and products is expected to reach USD 16.17 billion by 2020 growing at a CAGR of 13.2%, according to a new study by Grand View Research, Inc. Growing incidences of atrial fibrillation, strokes and brain damage due to blood clots coupled with a growing global base of geriatric population is expected to be a key driver for this market.