Global Home Healthcare Market: Snapshot
The global home healthcare market is envisioned to gain prominence due to the rise of positive growth factors, including government initiatives to promote home healthcare, technological developments, and increasing demand for economic healthcare delivery systems because of rising healthcare costs. However, there could be other factors attracting a large demand for home healthcare in the near future, such as frequent occurrences of chronic diseases and rising geriatric population. Mobility care devices offering personal safety and security are anticipated to draw a significant demand in the market because of increasing social connectedness, swelling demand for personal independence, ease of use, and growing geriatric population.
Cost-effectiveness and technological advancements could play a crucial role in the growth of infusion therapy services in the coming years. The demand for home healthcare could grow at a higher rate in emerging regions owing to the growing need for affordable healthcare delivery, increasing awareness, and expansion of major companies. Yet, there could be more factors augmenting the demand in developing countries, viz. rising disposable income, escalating adoption of novel techniques, and rising number of geriatrics.
Request Sample Copy of the Report @
Companies operating in the global home healthcare market are foreseen to adopt different business strategies to improve their share. Mergers and acquisitions, service portfolio expansion, collaborations, and regional expansion could be at the top of the list of best strategies adopted in the market. Diagnostics equipment could find massive opportunities in the market due to high usage rates of fertility and pregnancy tests and rising prevalence of cardiopulmonary and cardiovascular diseases and diabetes.
Global Home Healthcare Market: Overview
Home healthcare includes a number of healthcare services and devices that can be provided at a patient’s home to treat an illness or an injury. It costs less than the treatment at hospitals and nursing homes and is much more convenient too as it eliminates the need to shift a patient out of his comfort zone. Some of the home healthcare services include wound care for pressure sores or a surgical wound, intravenous or nutrition therapy, monitoring an illness, or administering injections. Owing to so many unique perceived benefits, the global home healthcare market has progressed at a steady pace in the last couple of years.
Global Home Healthcare Market: Key Trends
At the forefront of driving growth in the global market for home healthcare is the increasing instances of chronic maladies that would lead to swift adoption of household medical services and medical devices. With technological progress leading to the emergence of more sophisticated devices, the market in home healthcare is slated to receive further boost in the near future. Besides, patients are more open to treatments at home than in healthcare institutes.
Countering the growth in the global market for home healthcare, on the other hand, is the expensiveness of household medical devices. Eventually, however, the availability of different options will help overcome the cost issue.
Request TOC of the Report @
Global Home Healthcare Market: Market Potential
Going forward, the global market for home healthcare is slated to expand at a healthy clip on account of strategic acquisitions and mergers by prominent companies. The two broad divisions of the market are services and devices. Some of the devices most commonly used in home healthcare are mobility assist devices, diagnostics and monitoring home healthcare devices, therapeutics home healthcare devices, and medical supplies. At present, even though the diagnostics and monitoring devices segment dominates the market with maximum share, in the near future the therapeutics home healthcare devices segment will likely clock maximum growth.
The services segment, currently, is more popular due to the presence of numerous home healthcare service providers and robust acquisition strategies of savvy players in the field. A noticeable trend in the market is the emergence of home healthcare software which has made it much easier to maintain and access medical documentation. It helps achieve operational efficiency by providing accurate healthcare information and enabling home care agencies and physicians to communicate meaningfully.
Global Home Healthcare Market: Regional Outlook
Based on geography, the global home healthcare market is divided into Europe, North America, Asia Pacific, and the Rest of the World. Among them, North America dominates the market and in the near future too is expected to expand at a good clip owing to the rising occurrence of chronic diseases and numerous healthcare service providers. North America is trailed by Europe whose market has been bolstered by increasing instances of cardiovascular diseases and diabetes. Asia Pacific follows in the third position and is expected to see good growth in the upcoming years.
Global Home Healthcare Market: Competitive Analysis
The global market for home healthcare is characterized by stiff competition among a large number of players trying to outsmart one another through product development, new launches, and better applications of integrated product offerings. They compete in terms of pricing, service, quality, and product differentiation to stay ahead of the curve. Some such prominent and savvy players profiled in the report are Invacare Corporation, Teleflex Corporation, Medtronic, Inc., Johnson & Johnson, F. Hoffman-La Roche Ltd., Omron Healthcare, Inc., Abbott Laboratories, Praxair Technologies, Inc., Cardinal Health, and Gentiva Health Services, Inc.
Enquiry For Discount @
The study presents reliable qualitative and quantitative insights into:
Market segments and sub-segments
Market trends and dynamics
Supply and demand chain of the market
Market valuation (revenue and/or volume)
Forces defining present and estimated future state of the competitive landscape
Value chain and stakeholder analysis
The regional analysis covers:
Middle East and Africa
The vast market research data included in the study is the result of extensive primary and secondary research activities. Surveys, personal interviews, and inputs from industry experts form the crux of primary research activities and data collected from trade journals, industry databases, and reputable paid sources form the basis of secondary research. The report also includes a detailed qualitative and quantitative analysis of the market, with the help of information collected from market participants operating across key sectors of the market value chain. A separate analysis of macro- and micro-economic aspects, regulations, and trends influencing the overall development of the market is also included in the report.
Highlights of the report:
A detailed analysis of key segments of the market
Recent developments in the market’s competitive landscape
Detailed analysis of market segments up to second or third level of segmentation
Historical, current, and projected future valuation of the market in terms of revenue and/or volume
Key business strategies adopted by influential market vendors
Outline of the regulatory framework surrounding and governing numerous aspects of the market
Growth opportunities in emerging and established markets
Recommendations to market players to stay ahead of the competition
About TMR Research
TMR Research is a premier provider of customized market research and consulting services to business entities keen on succeeding in today’s supercharged economic climate. Armed with an experienced, dedicated, and dynamic team of analysts, we are redefining the way our clients’ conduct business by providing them with authoritative and trusted research studies in tune with the latest methodologies and market trends.
Our savvy custom-built reports span a gamut of industries such as pharmaceuticals, chemicals and metals, food and beverages, and technology and media, among others. With actionable insights uncovered through in-depth research of the market, we try to bring about game-changing success for our clients.
3739 Balboa St # 1097,
San Francisco, CA 94121