Home Healthcare Market is expected to grow at a CAGR of 8.1% during the forecast period 2017-2023. In the coming years, the Global economy will witness a sharp increase in the home health industry. The increased competition among existing and new market players to develop a device with higher accuracy and more advanced features will ultimately results in the growth of the market. Diabetes is one of the serious complications. So, most of the market players are focused to develop an efficient, and affordable blood glucose monitor, especially, for low income population. For instance, Abbott brought a flash glucose monitoring (FGM) system to the market i.e., Freestyle Libre. In contrast to the available CGM systems, the Freestyle Libre does not require calibration.
Rise in aging population, technological advancements, rising treatment cost and hospital stay, and rising approval from regulatory bodies are propelling the growth of the market. However, patient safety concerns may hinder the growth of market to an extent. Various issues have been found in home healthcare settings such as unsanitary conditions, medication errors, and others.
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Key Players for Global Home Healthcare Market
Some of key the players in the market are Abbott, GE Healthcare, Becton Dickinson Company, Omron Corporation, Apple, Medtronic PLC, Koninklijke Philips N.V., LG Electronics, Fresenius SE & Co KGaA, McKesson Corporation, F. Hoffmann-La Roche AG, B. Braun Melsungen AG, 3M, A&D Company, Kinnser Software, and others.
Regional Analysis for Global Home Healthcare Market
The Americas dominate the Home Healthcare Market owing to the presence of geriatric population, the presence of the leading players, and high healthcare expenditure. According to the WHO, world’s population aged over 60 years will nearly double from 12% to 22% by 2050, and in the United States over 20% of the total population will be aged 65 years or over by 2030.
Europe holds the second position in the Home Healthcare Market. It is expected that the support provided by the private, and government bodies for research & development, along with a well-developed technology drives the Home Healthcare Market in the European region.
Asia Pacific region is projected to be the fastest growing region during the forecast period. Rising treatment cost and hospital stay, and the presence of huge patient pool drive the Asia Pacific market. According to the National Heart Foundation of Australia, the cardiovascular disease is one of the most costly disease group, which costs around USD 7.7 billion a year or 10.4% of the direct healthcare expenditure. The direct healthcare expenditure for this disease includes USD 4.5 billion in hospital admissions and USD 1.65 billion in pharmaceuticals.
The Middle East and Africa hold the least share in the market is owing to the presence of poor and slow developing countries, especially, in the African region.
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Some Brief Table of Contents of Report
Chapter 1. Report Prologue
Chapter 2. Market Introduction
2.2 Scope Of The Study
2.2.1 Research Objective
Chapter 3. Research Methodology
3.2 Primary Research
3.3 Secondary Research
3.4 Market Size Estimation
Chapter 4. Market Dynamics
4.5 Macroeconomic Indicators
4.6 Technology Trends & Assessment
Chapter 5. Market Factor Analysis
5.1 Porters Five Forces Analysis
5.1.1 Bargaining Power Of Suppliers
LIST OF TABLE
TABLE 1 MARKET SYNOPSIS 16
TABLE 2 LIST OF ASSUMPTIONS 19
TABLE 3 PRIMARY INTERVIEWS 22
TABLE 4 GLOBAL HOME HEALTHCARE MARKET, BY PRODUCT 2014-2023 (USD MILLION) 41
TABLE 5 GLOBAL HOME HEALTHCARE MARKET, BY REGION 2014-2023 (USD MILLION) 42
TABLE 6 GLOBAL HOME HEALTHCARE MARKET, BY TESTING, SCREENING, & MONITORING PRODUCTS 2014-2023 (USD MILLION) 42
TABLE 7 GLOBAL HOME HEALTHCARE MARKET, BY REGION 2014-2023 (USD MILLION) 43
TABLE 8 GLOBAL HOME HEALTHCARE MARKET, BY TESTING, SCREENING, & MONITORING PRODUCTS 2014-2023 (USD MILLION) 43
TABLE 9 GLOBAL HOME HEALTHCARE MARKET, BY SERVICES 2014-2023 (USD MILLION) 45
TABLE 10 GLOBAL HOME HEALTHCARE MARKET, BY REGION 2014-2023 (USD MILLION) 46
TABLE 11 GLOBAL HOME HEALTHCARE MARKET, BY REGION 2014-2023 (USD MILLION) 46
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