Home Healthcare Market is Expected to Reach USD 305.9 Billion by 2018 : Transparency Market Research
Albany, New York (PRWEB) July 25, 2013 -- According to a new market report published by Transparency Market Research, "Home Healthcare Market - Global Industry Size, Market Share, Trends, Analysis and Forecast, 2012 - 2018", the global home healthcare market is estimated to be worth USD 195.6 billion in 2012 and is expected to reach the value of USD 305.9 billion by 2018, growing at a CAGR of 7.7% from 2012 to 2018. The Americas region is expected to lead the global home healthcare market in terms of revenue till 2018.
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The total home healthcare market in the Americas is expected to reach the value of USD 150.8 billion by 2018 followed by Europe with total revenue of USD 80.5 billion.
The rising need to continuously monitor and care for health has increased the global expenditure on healthcare services and products.
The trend is also gradually pushing people towards home healthcare products and services, due to their cost efficiency and reliability. This, in turn, is driving the growth of the global home healthcare products and services market.
The technological and application developments that have taken place in the home healthcare segment have made them more reliable and globally acceptable. It has also made it feasible for hospitals and patients to get early discharge, and minimize the cost and infrastructure pressures. The growth in certain diseases or medical conditions such as high blood pressure, diabetes, asthma, and other cardiovascular and respiratory diseases, which require continuous monitoring and care, are further driving the home healthcare market growth.
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Though the global share of the home healthcare equipment market is considerably less, it is growing at a faster CAGR of 9.9% from 2012 to 2018 due to rising technological innovations, especially in the field of home therapeutic equipment. The home healthcare services market, despite its large share, is expected to grow at a CAGR of 7.4% from 2012 to 2018. The main deterrent, restricting the entry of organized players in this segment is dominance of a large number of small regional players, who are offering their services at low prices, and enjoy high customer loyalty. This has in turn, shifted the attention of big players towards the home healthcare equipment market.
The global home healthcare equipment market can be categorized as: therapeutic equipment market, self-diagnostic and monitoring equipment market, mobility assists equipment market, and others. Currently, the key market players dominating the home healthcare equipment market are: J&J (Johnson and Johnson), Braun, GE Healthcare, Baxter International, Philips Healthcare, Omron Corporation, Invacare, and Medtronic.
Browse the full report with TOC at http://www.transparencymarketresearch.com/home-healthcare-market.html
The global market for home healthcare services is classified into respiratory therapy, telemetry, rehabilitation services, infusion therapy, and other unskilled home healthcare services. The unskilled healthcare services are provided by individuals such as family members, unlicensed or traditional caretakers, relatives, and friends. The market for home healthcare services is highly organized in regions such as the Americas and Europe, where it is very efficient. A large share, 79.9%, of the global home healthcare services market is dominated by rehabilitation and unskilled care services. However, the segment is believed to be extremely fragmented, and dominated by small and unorganized players.
This research is specially designed to estimate and analyze the demand and performance of home healthcare equipment and services in a global scenario. The research provides in-depth analysis of home healthcare equipment manufacturers, product sales, trend analysis by segments and demand by geography. The report covers all the major application segments of the global home healthcare market and provides in-depth analysis, historical data and statistically refined forecast for the segments covered.
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Sheela AK, Transparency Market Research, http://www.transparencymarketresearch.com, +1-518-618-1030, [email protected]
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