Global Home Healthcare Equipment Market Outlook 2024, Global Opportunity and Demand Analysis, Market Forecast, 2016-2024
Overview
The global home healthcare devices market is poised for rapid growth due to rise in aging population, growing demand for home healthcare systems due to the increasing healthcare costs, advancement in technology and government initiatives. Major driving factor behind the positive growth of home healthcare market is increasing geriatric population, health awareness among the population and increase in diagnosis.
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Major Players
- 3M Health Care
- Siemens
- Bayer AG
- Abbott Laboratories
- Cardinal Health, Inc.
- GE Healthcare
- Invacare Corporation
- F. Hoffmann-La Roche Ltd.
- Phillips Healthcare
- Medtronic, Inc.
- Omron Healthcare, Inc.
Home Healthcare Equipment Major Outlook
Geriatric population is prone to chronic diseases such as diabetes which in turn, is expected to fuel the growth of home healthcare device market. While on the other hand, home healthcare equipment market is facing challenges like providing services for chronic illness, changing reimbursement policies and limited insurance coverage. In global home healthcare equipment market, services segment is the largest, providing services like rehabilitation, tele-health and telemedicine, respiratory therapy, infusion therapy and unskilled home healthcare services. .
Home Healthcare Equipment - Competitive Analysis
Key players are making innovative developments in Home Healthcare Equipment. The same will help in improving the market performance. Heavy investments are made by major players in the R&D sector
Home Healthcare Equipment – Scope
Global home health care equipment market is around 12-15% of total home health care market, which is anticipated to reach USD 50 billion by the end of 2024, growing at a CAGR of 7% during the forecast period and rest of the share is generated by home healthcare services. In 2015, U.S. and Canada were the largest geographies which held 35% share in global home health care equipment market followed by Europe and APAC, being the emerging market. Diabetes among other diseases accounts for largest share (45% in 2006) in home healthcare equipment market.
Factors restraining the growth of this market include reimbursement availability, limited insurance coverage and risks to personal safety of home care workers. Due to direct sales through the Internet has brought the distribution channel consolidation, leading to a decrease in the number of distributers in the global homecare equipment market
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Posted by
Vivian Dsena
on Tuesday April 17 2018, 5:17 AM EST.
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