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| Home Healthcare Market |
The global home healthcare market is
growing significantly due to technological advancement and new healthcare
services in the industry. Massive unexplored market in home healthcare industry
of developing economies and cost effective alternatives to other modalities and
facility based care are creating ample opportunities for the home healthcare
market to grow at a considerable rate in the coming years. The advanced
research and development facilities and new product developments by the
companies are supporting to address the demand for cost effective healthcare in
the home healthcare industry.
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The home healthcare market can be categorized on the basis of
services as rehabilitation services, unskilled home healthcare services,
infusion therapy services, respiratory therapy services, and telehealth and
telemedicine services. Diagnostic and monitoring devices lead the home
healthcare market under type of devices category, due to increasing prevalence
of chronic diseases such as diabetes and cardiovascular diseases. The
therapeutic home healthcare devices segment is expected to grow with the
fastest rate in the coming years, due to technological advancement in
therapeutic devices.
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Some of the factors driving the growth of home healthcare market
are rise in geriatric population, high acceptance of home based services and
medical devices, increasing sedentary lifestyle, increasing healthcare
expenditure, and increasing prevalence of chronic diseases. However, fatal
health disorders, misguide treatment therapy, and limited geographic presence
of home healthcare service providers are some of the factors restraining the
growth of the home healthcare market to some extent.
Geographically, North America will be leading the global home
healthcare market in the coming years, due to rise in aging population,
favourable reimbursement policies, and increasing sedentary lifestyle.
Moreover, Asia-Pacific is the fastest growing region in the global home
healthcare market. The major reasons for the fastest growth in the region are
increasing healthcare expenditure and high standards of living of the consumers
in the region. Moreover, the home healthcare market is growing due to
increasing awareness of healthcare in the emerging countries, such as India and
China of Asia-Pacific region.
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Some of the companies operating in the home healthcare market are
3M Healthcare, Becton Dickinson and Company, Baxter International, Inc., Abbott
Laboratories, Hoffmann-La Roche Ltd., Philips Healthcare, Apria Healthcare
Group, Inc., Johnson & Johnson Services, Inc., Bayer AG, Eli Lilly and
Company, C.R. Bard, Inc., B. Braun Melsungen AG, Carefusion Corporation, Coloplast
A/S, Convatec Inc., Medtronic, Inc., and GE Healthcare.
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