Global Home Healthcare Market: Snapshot

Owing to the increase in geriatric population and desk-bound lifestyle of people all around the world, the global home healthcare market is anticipated to gain momentum in the future years. Homecare for health provides personal care of chronic infections and is quite common among the age-old population. The healthcare industry is projected to witness high occurrence of chronic disorders recently that has induced the growth of the global home healthcare market in the future. Patient suffering from respiratory problems, kidney issues, strokes, and hypertension should be more careful regarding their health. Because of the simple techniques of care offered by home healthcare gadgets, the market is yet to see more positive prospects. Elderly population prefer home healthcare owing to the fact that they do not have to travel back and forth to hospitals and clinics each time there is an issue but receive all the required medication facilities in the comfort of their own homes.

The global home healthcare market is envisaged to be worth US$303.6 bn by the end of 2020 with a CAGR of 8.1%. The forecast period is set to 2014 to 2020 and is forecasted to be increasing from US$176.1 bn as per the 2013 records.

Surge in Geriatric Population to Bring More Revenue to Global Market

The global home healthcare market is classified on the basis of device type, and services. Based on the classification by device type, the market is categorized into Medical Supplies, Home Mobility Assist Devices, Therapeutics Home Healthcare Devices, and Diagnostics and Monitoring Home Devices.

Home Mobility Assist Devices are further classified into Cranes and Crutches, and Wheelchairs. The Therapeutics Home Healthcare Devices are sub divided into Dialysis Equipment, IV Equipment, Ventilator and CPAP Devices, Nebulizers, and Insulin Delivery Devices. Further classification of diagnostics and monitoring home devices include Pedometers, Pulse Oximeters, Pregnancy Test Kits, Coagulation Monitors, Sleep Apnea Monitors, Temperature Monitors, Heart Rate Monitors, Blood Pressure Monitors, and Blood Glucose Monitors.

With respect to services, the global home healthcare market is segmented into Unskilled Home Healthcare Services, Respiratory Therapy Services, Infusion Therapy Services, Telehealth and Telemedicine Services, and Rehabilitation Services.

Asia Pacific to Emerge with Lucrative Opportunities Owing to Enhancement of Medical Facilities

From a geographical perspective, the global home healthcare market is categorized into the regions of North America, Asia Pacific, Europe, and the Rest of the World. Among thee, the market in North America is seen to be holding a dominant share in the market owing to cross country medical aids and reimbursement policies provided in the region. Apart from that, the infrastructure of healthcare in the North American region is far better and advanced as compared to the other regions. Service providers and Key manufacturers of the home healthcare market are more in number in the North American region which makes it more dominant as compared to the other regions of the world.

Asia Pacific on the other side is projected to emerge and provide large source of revenue in the global market owing to the continuous efforts of government especially of the emerging economies for the enhancement of healthcare and private medical facilities in the region.

Major players of the global home healthcare market are Johnson and Johnson, Phillips Healthcare, Bayer Healthcare, Abbott Laboratories, and Teleflex Corporation, Medtronic.

The home healthcare market involves wide range of medical devices and services that help patients to treat or diagnose a variety of chronic diseases. These devices and services play an important role in providing cost-effective health care to the patients. Home healthcare promises lucrative business opportunities due to increased acceptance of home healthcare, technological advancements and cost-effective alternatives compared to other modalities (i.e. hospital visits). Factors such as aging population and increasing number of people diagnosed with chronic diseases such as diabetes, cardiac disorders and respiratory diseases drive the growth of the home healthcare market globally. According to the World Health Organization (WHO), the number of people aged 65 years and above is expected to increase from 605 million to 2 billion by 2050. In addition, home healthcare services are still at a nascent stage in developing regions such as India and Latin America and witnessing high growth rate during the forecast period. These factors would fuel the demand for home healthcare during the study period, and hence boost market growth. However, high cost coupled with reimbursement issues related to home healthcare services and devices would restrain market growth.
 
This report encompasses a detailed study of various home medical devices and home healthcare services. Home healthcare devices have been majorly segmented into diagnostic and monitoring devices, therapeutic devices, home mobility assist devices and medical supplies. The diagnostic and monitoring devices segment includes blood glucose monitors, blood pressure monitors, sleep apnea monitors, pregnancy test kits, pulse oximeters, heart rate monitors, temperature monitors, pedometers and coagulation monitors. The therapeutic devices segment comprises insulin delivery devices, nebulizers, ventilators and CPAP devices, IV equipment and dialysis equipment. The home mobility assist devices segment has been further categorized into wheelchairs, cranes and crutches and other mobility assist devices. The market size and forecast for each device type has been provided for the period 2012 to 2020, considering 2013 as the base year. The report also provides the compounded annual growth rate (% CAGR) for the forecast period 2014 to 2020 for each segment.
 
The global home healthcare market, by services has been segmented into rehabilitation services, respiratory therapy services, telehealth and telemedicine services, infusion therapy services and unskilled home healthcare services. The market size and forecast in terms of USD million for each service has been provided for the period 2012 to 2020, considering 2013 as the base year. The report also provides the compounded annual growth rate (% CAGR) for the forecast period 2014 to 2020 for each segment.
 
Geographically, the global home healthcare systems market has been segmented into four major regions: North America, Europe, Asia Pacific and Rest of the World (RoW). The market size and forecast for each geography has been estimated for the period 2012 to 2020 in terms of revenue (USD million), considering 2013 as the base year. The report also provides the compounded annual growth rate (CAGR %) during the forecast period from 2014 to 2020 for all the geographies mentioned above.
 
The market overview section of the report discusses the market dynamics with respect to the market drivers, restraints and opportunities. This section also covers market attractiveness analysis, event impact and value chain analysis of the global home healthcare market. Market share (%) of major players operating in the market has also been provided for the year 2013, followed by a list of recommendations for existing and new players to enter and enhance market share. The report concludes with company profiles of key players operating in various segments of the market. Each company profile includes business overview, financial overview, product portfolio, business strategies and recent developments of the respective company. Some of the prominent players in the global home healthcare market that have been profiled in the report include 3M Health Care, Bayer AG, Abbott Laboratories, Cardinal Health, Inc., GE Healthcare, Johnson & Johnson Services, Inc., Gentiva Health Services, Inc., Invacare Corporation, F. Hoffmann-La Roche Ltd., Phillips Healthcare, Medtronic, 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
      • Pedometers
    • Therapeutics Home Healthcare Devices
      • Insulin Delivery Devices
      • Nebulizers
      • Ventilator and CPAP Devices
      • IV Equipments
      • Dialysis Equipment
    • Home Mobility Assist Devices
      • Wheelchairs
      • 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
    • Europe
    • Asia-Pacific
    • Rest of the World (RoW)
.