Rising Healthcare Costs Create A Need For More Affordable Treatment Options Like Home Solutions
Dallas, Texas (PRWEB) August 07, 2013
The U.S. dominated the North American home healthcare market in 2012 and is expected to maintain its position in the coming five years, owing to the rising aging population, increasing chronic diseases, technological developments for various home use applications, positive response to home-based devices, increasing awareness, and proper insurance coverage in the country. Canada is expected to grow steadily, due to increasing awareness regarding home based devices, and increasing prevalence of lifestyle diseases such as diabetes, obesity, and cardiovascular diseases and various initiatives taken by government to promote home healthcare.
The North America home health care market (http://www.reportsnreports.com/reports/267203-north-american-home-healthcare-market-by-product-blood-glucose-meter-ecg-iv-equipment-nutrition-wheelchair-fitness-heart-rate-monitor-pregnancy-test-kit-services-respiratory-therapy-rehabilitation-therapy-telehealth-forecasts-to-2017.html) was valued at $90.9 billion in 2012; it is poised to grow at a CAGR of 7.5% to reach $130.4 billion by 2017. Home healthcare market includes products, services, and telehealth. The home care product category comprises homecare testing, screening & monitoring devices, home healthcare therapeutic equipment, mobility assist & other devices, fitness, and nutrition products. Services include unskilled care, rehabilitation therapy, infusion therapy, and respiratory therapy, while telehealth includes home telehealth monitoring devices and telehealth services.
The most significant healthcare trend witnessed recently is the shift of treatment from hospitals to home in order to gain a cost advantage and reduce hospital expenditure. The move from treatment to proactive monitoring is also opening up new opportunities for the home healthcare market. Patients prefer home healthcare over hospitals for the convenience, privacy, and cost-effectiveness it offers. Factors like innovation, easy availability, aging demographics, and increasing chronic diseases drive the U.S. market, which has the largest share in terms of revenue. Canada is also a significant country of North American region. The rising healthcare cost and increasing incidences of chronic ailments are forcing Canadian government to move towards home healthcare. This factor has made home healthcare a lucrative market for many companies to invest. However, cut in Medicare payments to home health agencies and risk to the safety of home healthcare workers are factors limiting the growth of this market.
The prominent home healthcare service provider companies are Apria Healthcare Group (U.S.), Gentiva Health Service Inc. (U.S.) and Amdisys, Inc. (U.S.) while key home healthcare product manufacturing companies are Alere, Inc. (U.S.), Baxter International, Inc. (U.S.), B. Braun Melsungen AG (Germany), Fresenius Se & Co KGAa (Germany), GE Healthcare (U.K), Philips Healthcare (The Netherlands), and Roche Holdings (Switzerland).
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Scope of the Report
This research report categorizes the North American home healthcare devices and services market into the following segments and sub-segments:
- Home Care Testing, Monitoring and Screening
- Home Healthcare Therapeutic Equipment
- Mobility Assist & Other Devices
Based on application, the product market is sub-segmented into the following types:
Home Care Testing, Monitoring and Screening includes: Hiv Kits, Bp Monitors, Blood Glucose Meters, Ecg/Ekg Devices, Eeg Devices, Apnea and Sleep Monitors, Holter Monitors, Event Monitors, Drug & Alcohol Test Kits, Coagulation Monitors, Cholesterol Monitoring Devices, Colon Cancer Test Kit, Home Hemoglobin A1c Test Kits, Fetal Heart Rate Monitors, Pregnancy Bp Monitors And Ovulation And Pregnancy Test.
Home Respiratory Therapy Equipment includes: Oxygen Delivery Systems, Continuous Positive Airway Pressure (CPAP) Products, Medical Nebulizer Kits and Devices, Medical Ventilators and Accessories, IV Equipment, Insulin Delivery Devices and Dialysis Equipment.
Mobility Assist & Other Devices like Wheelchairs and Related Devices and Walking Assist Device.
Nutrition includes: Enteral Nutrition and Parenteral Nutrition.
Fitness includes: Heart Rate Monitors, Cardiovascular Exercise Equipment and Body composition analyzers.
Home Healthcare Services Market includes: Rehabilitation Therapy Services, Unskilled Care and Infusion Therapy.
Home Telehealth Market includes: Home Telehealth Monitoring devices and Home Teleheath Services.
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Check other reports on Home Healthcare Market @:
Home Healthcare Equipment Market to 2017 - Increased Prevalence of Chronic Diseases in the Elderly Population to Stimulate Growth @ http://www.reportsnreports.com/reports/135093-home-healthcare-equipment-market-to-2017-increased-prevalence-of-chronic-diseases-in-the-elderly-population-to-stimulate-growth.html.
European Home Healthcare Market By Products (Blood Glucose Meter, ECG, IV Equipment, Nutrition, Wheelchair, Fitness, Heart Rate Monitor, Pregnancy Test Kit), Services (Respiratory Therapy, Rehabilitation Therapy) & Telehealth – Forecasts to 2017 @ http://www.reportsnreports.com/reports/259885-european-home-healthcare-market-by-products-blood-glucose-meter-ecg-iv-equipment-nutrition-wheelchair-fitness-heart-rate-monitor-pregnancy-test-kit-services-respiratory-therapy-rehabilitation-therapy-telehealth-forecasts-to-2017.html.
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