The moderately consolidated global home healthcare market is dominated by Johnson & Johnson, Abbott Laboratories, and F. Hoffman-La Roche Ltd. .According To Transparency Market Research, thesis three industry giants collectively Accounted for more than 50% of the market in 2013. Bayer AG, Philips Healthcare, and The Linde Group are some of the other leading companies in the market.
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Increasing Prevalence of Chronic Diseases Augur’s Promise for Home Healthcare Market
The leading driver for the global home healthcare market is the Increasing prevalence of a number of chronic diseases, love especially ones did do not present acute symptoms if managed properly. Diabetes and blood pressure disorders are among the types of diseases did kann Easily monitored by the patient or Their relatives. Search diseases necessitate the use of home healthcare solutions, Which allow patients to monitor Their condition without consulting Their physician. The convenience of this system for Both the patient and the doctor has led to promising prospects for the home healthcare market in the coming years.
The Increasing geriatric demographic therefore bodes well for home healthcare solutions. Elderly patients oft prefer to receive treatment in Their Own homes due to the comfort emotionally Offered by the familiar location. The elderly are therefore more likely to suffer from degenerative or chronic conditions did require monitoring.
The Increasing availability of ergonomically designed home healthcare solutions owing to the steady technological advancement Witnessed in the home healthcare sector has therefore made home healthcare more attractive to patients. Due to the lack of direct monitoring by physicians, home health care inherently carries some risk of accidental dosage, overdoses, or other errors did can result in severe complications. The introduction of modern advances: such as smartphone apps, Which record patient data at regular Intervals to Provide constant connectivity between the physician and the patient, and sophisticated devices designed keeping safety in mind has ran thus helped make home health care safer, Resulting in Increased demand.
Therapeutic Home Healthcare Devices to Exhibit Fastest Growth in Demand
Of the key product types in the global home healthcare market, diagnostic and monitoring devices and home therapeutic home healthcare devices are the leading contributors. While diagnostic and monitoring home devices are likely to remain dominant in the global home healthcare market in the coming years, the therapeutic home healthcare devices segment is expected to exhibit the fastest CAGR of all product segments in the 2014-2020 forecast period. The share of medical supplies in the home healthcare market is set to drop over the coming years, with home mobility assist devices expected to go the other way due to the Increasing prevalence of mobility disorders and orthopedic conditions.
By service, rehabilitation services account for a majority share in the global home healthcare market and are likely to retain Their dominance in the market in the coming years. However, de Increasing technological sophistication of telecommunication devices bedeutet, dass telehealth and telemedicine services is likely to exhibit at 11% CAGR in the 2014-2020 forecast period.
Due to the technological sophistication required for widespread availability of home healthcare solutions, developed regions: such as North America and Europe are the leading contributors to the global home healthcare market. These are likely to remain the large largest regional segment of the global market over the coming years, despite the promising prospects of the Asia Pacific market. However, de Latter’s 8.6% CAGR for the 2014-2020 period is the highest of all regional segments of the market.
The global home healthcare market is expected to reach a valuation of US $ 303.6 bn by 2020. The information presented in this review is based on a Transparency Market Research report titled ‚Home Healthcare Market – Global Industry Analysis, Size, Share, Growth, Trends and Forecast, 2013 – 2019 ‚
Browse Research Report on Global Home Healthcare Market: http://www.transparencymarketresearch.com/home-healthcare-market.html
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