admin Zion Market Research has published a new report titled “Global Home Healthcare Market (Diagnostics and Monitoring Devices, Therapeutic Home Healthcare Devices, Mobility Assist Devices and Medical Supplies) and Services (Rehabilitation, Telehealth and Telemedicine, Respiratory Therapy, Infusion Therapy and Unskilled Home Healthcare Services): Global Industry Perspective, Comprehensive Analysis and Forecast, 2015 – 2021”.
According to the report, global home healthcare market was valued at USD 228.90 billion in 2015 and is expected to generate revenue of USD 391.41 billion by 2021, growing at a CAGR of 9.40% between 2016 and 2021.
Growing global geriatric population, increasing the incidence of chronic disease, favorable government initiatives, and growing demand for affordable health care delivery systems are the key factors fueling demand of home health care services. In addition, growing healthcare costs and increasing health awareness among people, is expected to trigger the growth of this industry in the years to come.
North America regional market is by far the largest in the global home healthcare market and is set to continue to dominate the world marketplace over the forecast period. The home healthcare market is driven by a huge aging population which is highly prone to different diseases such as diabetic ulcers, venous stasis ulcers, and pressure ulcers. The U.S. was a major revenue contributor for home healthcare market in 2015. Some of the factor like innovation, easy availability, aging demographics, and increasing chronic diseases drive the U.S. home health care market.
The Asia Pacific is expected to be the fastest region for the home healthcare market. It is expected to grow at the highest CAGR during the forecast period. Increasing geriatric population, (especially in Japan, Singapore, China, South Korea, and Taiwan), growing incidence of chronic diseases, disposable incomes, and demand for affordable healthcare alternatives in this region are expected to drive the adoption of the home healthcare services. In the Asia Pacific, emerging countries such as India, China, Singapore, and Malaysia is anticipated to drive the home healthcare market due to improving healthcare standards. Latin America is expected to experience a high growth rate and adoption trend for this market. Brazil was the largest market in Latin America and accounted for the largest market share in 2015 in this region.
Some of the major industry participants in Home healthcare market includes 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.
Source: marketnewsstore.com
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