According to featured report on the global home healthcare market, the market will grow at a progressive 8.1% CAGR during the forecasting horizon from 2014 to 2020. The report noted that the global home healthcare market in 2013 was worth US$176,107.9 million, and is estimated to reach a market revenue of US$303,605.9 million by 2020.
Geography-wise, the North American home healthcare market is in the leading position. It will continue to hold this position due to the supporting market forces such as increasing base of geriatric population and presence of a large number of small and large-scale home healthcare service providers in the region. Furthermore, the favorable reimbursement policies will fuel the growth of the North American home healthcare market.
In 2007, the USFDA announced that it will provide close oversight of home healthcare equipment in the nation and the expenditure was noted at US$57.6 billion.
The second largest share of the global home healthcare market was held by Europe. In 2013, Europe held a significant 25% share of the global market.
Factors such as high prevalence of cardiovascular diseases and diabetes along with the accelerating healthcare investments by the European government will further support the growth of this regional home healthcare market.
Asia-Pacific is not far behind and will demonstrate a fastest growth with a CAGR of 7% during the forecast period. Asia Pacific market will benefit from growth drivers such as new technologies and constant product launch by key firms in this region.
The global home healthcare market is broadly segmented into devices and services. The services segment held the largest market share in the global home healthcare market. This can be attributed to the presence of a large number of home healthcare providers globally and their strong acquisition strategies.
On the basis of services, the global home healthcare market is divided into respiratory therapy services, unskilled therapy services, infusion therapy services, telehealth and telemedicine services, and rehabilitation services. The devices sector is further classified into diagnostic and monitoring home devices, home mobility assist devices, therapeutics home healthcare devices, and medical supplies.
The largest share was captured by the diagnostics and monitoring devices segment in the global home healthcare market; and the therapeutics home healthcare sector will display a highest CAGR of over 10% during the forecast horizon.
The top market players operating in the global home healthcare market are Teleflex Corporation, F. Hoffman-La Roche Ltd., Medtronic, Inc., Abbott Laboratories, ResMed, Inc., Cardinal Health, Invacare Corporation, Gentiva Health Services, Inc., Johnson & Johnson, Praxair Technologies, Inc., and Omron Healthcare, Inc.
The Global home healthcare market is segmented as follows:
Global Home Healthcare Market, by Device Types
- Diagnostics and Monitoring Home Devices
- Blood Glucose Monitors
- Blood Pressure Monitors
- Heart Rate Monitors
- Temperature Monitors
- Sleep Apnea Monitors
- Coagulation Monitors
- Pregnancy Test Kits
- Pulse Oximeters
- Therapeutics Home Healthcare Devices
- Insulin Delivery Devices
- Ventilator and CPAP Devices
- IV Equipments
- Dialysis Equipment
- Home Mobility Assist Devices
- Cranes and Crutches
- Other Home Mobility Assist Devices
- Medical Supplies
Global Home Healthcare Market, by Services
- Rehabilitation Services
- Telehealth and Telemedicine Services
- Infusion Therapy Services
- Respiratory Therapy Services
- Unskilled Home Healthcare Services
Global Home Healthcare Market, by Geography
- North America
- Rest of the World (RoW)
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SOURCE: Market Research Report on Home Healthcare Market: http://www.transparencymarketresearch.com/home-healthcare-market.html
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