Home healthcare devices and
services are applied to wide range of usage which is intended to use at home by
family members, patients themselves and non-professional care givers. Rise in
aging population and increasing prevalence of cardiovascular diseases,
respiratory diseases, diabetes are spurring the market for home healthcare
products and services. These products and services help patients to stay at
their homes rather than in costly assisted living facilities or nursing homes
which will alleviate the financial and economic burden on individuals.
Home healthcare products and services include respiratory equipment, hemodynamic monitoring, wellness care products, rehabilitation products and services, social working services (medical), telehealth services and many more. These kinds of services are not only helpful for providing care related to acute and chronic diseases but also for the prevention of disease and lifestyle changes. Even complex devices such as dialysis equipment, infusion pumps and ventilators are being used outside the hospital but manufacturers are facing few challenges for providing these services and are attempting to address the issues.
Home healthcare products and services include respiratory equipment, hemodynamic monitoring, wellness care products, rehabilitation products and services, social working services (medical), telehealth services and many more. These kinds of services are not only helpful for providing care related to acute and chronic diseases but also for the prevention of disease and lifestyle changes. Even complex devices such as dialysis equipment, infusion pumps and ventilators are being used outside the hospital but manufacturers are facing few challenges for providing these services and are attempting to address the issues.
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New home care technologies
such as internet enabled home monitors, apps for mhealth and telemedicine are
available across the globe and bringing advanced care to patients’ homes.
Governments, Insurance providers, device manufacturers are showing interest in
developing home healthcare devices which are safe, comfort and user friendly
for caretakers and patients.
Market
Trends:
Home Healthcare Equipment/Products and Services
Market is slated to grow at 6% to
8% year on year for the next five years. The market is estimated to reach $345
Billion by 2020.
The majority of the revenues come from the Services Segment, roughly around 70% while the remaining part is
from the Equipment and Devices part of the market.
Geographically,
the Asian Healthcare Equipment Market alone is set to grow from $3 Billion
currently to $11 Billion by next year, 2016. The market has huge potential in the US considering the fact that
home health is only 3% of the national healthcare spending currently. Asia
displays a high CAGR owing to the rapidly increasing aging population in
countries such as India, China, and Japan. Americas contributed for a major
share of over 50% globally, also maintains a stable growth mainly due to the
reimbursements offered for specific equipment and the health policies.
Advancements in the remote
monitoring and wireless communications, increasing healthcare costs will create
boom in healthcare monitoring, diagnosis and treatment. Though these devices
are more popular in America, the APAC region is also increasing its pace to
catch up because of various factors such as aging demographics, rising
population of chronic diseases, increase in healthcare infrastructure.
Table
of Contents and Insights:
REPORT
SCOPE: Market
Segmentation:
Home
Healthcare Products Market is broadly segmented into 4 types based
on these factors:
- Services: Rehabilitation Services, Skilled Care, Unskilled Care, Technological and Others.
- By Type of Ailment/Disease/Problem: Diabetes, Asthma, Smoking, Depression and Others.
- Products/Equipment: Dialysis Products, Diabetes Care Products, Drug Delivery Devices and Others.
- Geography: North America, Latin America, Europe, Asia and ROW.
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Key
Players:
Competitive
landscape for each of the product types of the Global Home Healthcare Market is highlighted and market players are
profiled with attributes of company overview, financial overview, business
strategies, product portfolio and recent developments. Market shares of the key
players for 2014 are provided. Some
companies studied and mentioned in the report:
- A&D COMPANY, LTD.
- APRIA HEALTHCARE GROUP, INC.
- ABBOTT LABORATORIES
- ALERE, INC.
- ALMOST FAMILY, INC.
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