(PRWEB) May 11, 2014
The “Home Healthcare Market (Equipment, Service & Telehealth/Telemedicine) Current Trends, Opportunities & Global Forecasts to 2016” analyzes and studies the major market drivers, restraints, and opportunities in Americas, Europe, Asia, and Rest of the World.
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This report studies the global home healthcare market over the forecast period 2011-2016. The global home healthcare market was valued at $204 billion in 2011, and is growing with a CAGR of 7.7% from 2011 to 2016 to reach $296 billion by 2016.
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The global home healthcare market is segmented into equipment, services, and home telehealth market. The equipment and services are further categorized according to their applications, technologies and mode of delivery. The equipment market for home healthcare is segmented into monitoring, therapeutic, and mobility assist devices. The service market for home healthcare is categorized into rehabilitation service providers, unskilled home healthcare, infusion therapy service providers, and respiratory therapy service providers. The home telehealth market comprises monitoring devices, services and managed equipment services.
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The global home healthcare market is in its growth phase but can be considered significantly established in the developed regions of the world which account for the majority share of 80%. The developing regions such as Asia-Pacific and Rest of the World account for the rest 20%, but show a strong growth potential mainly due to the large untapped patient base.
The global aging population is set to increase from 550 million in 2000 to 973 million by 2030. Japan and South Korea are considered to be the world’s fastest aging countries. The median age of the world population is increasing due to a decline in fertility and a 20-year increase in the average life span during the second half of the 20th century. Another factor contributing to the growth of the home healthcare market is that an increasing number of countries are experiencing the shift termed “epidemiological transition”. Chronic diseases with long-term treatment have begun replacing infections as the primary cause of death in the aging societies and this shift is not confined to the developed world. Home healthcare is required for diseases and disorders which need close and regular monitoring such as diabetes and respiratory disorders. The demand for home healthcare is increasing because of the high incidence and prevalence of the chronic disease conditions.
Asia displays a high CAGR owing to the rapidly increasing aging population in countries such as India, China, and Japan. Americas also maintains a stable growth mainly due to the reimbursements offered for specific equipment and the health policies of Medicaid and Medicare. Portability, customization, and automation are the key factors that this market players use to differentiate their products and services.
The geographies studied include Americas (U.S., Canada, Brazil, Mexico, and Rest of Americas), Europe (Germany, France, U.K., Italy, Spain, Russia, and Rest of Europe), Asia (India, China, Japan, South Korea, and Rest of Asia), and ROW (Pacific region which includes Australia and New Zealand, Middle East and Africa).
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