The North America Home Healthcare Market research report provides complete insights on industry scope, trends, regional estimates, key application, competitive landscape and financial performance of prominent players. It also offers ready data-driven answers to several industry-level questions. This study enables numerous opportunities for the market players to invest in research and development.
Market Overview:
North America Home Healthcare Market was valued at USD 756.8 million in 2014 owing to the increasing geriatric population, increasing chronic diseases and high disposable income for health care expenditure. Home healthcare is a diversified industry that comprises home nursing care, companion care, infusion services, and others.
Key Players:
- Wound care
- Mattress overlays
- Heel protectors
- Seating cushions
- Abbott Laboratories
- Apria Healthcare Group
- Almost Family Inc.
- A&D Company Limited
- Amedisys
- General Electric Company (GE)
- Omron Corporation
- Roche Holding AG
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Growth Drivers:
Home healthcare is particularly referred as home medical care and usually involves assisting the elderly population to recover from illnesses or injuries and allow them to live independently for as long as they can. Home healthcare includes physical & occupational therapy, skilled nursing, and speech therapy. It also assists other adults with activities like dressing, eating, bathing, daily living, cleaning, cooking, housekeeping tasks and monitoring one’s medication routine. Personalized medical assistance to control treatment expenditure is predicted to boost North America home healthcare market with a CAGR of 10.09% in the forecast period.
North America is majorly driven by the growing geriatric population and increase in chronic disorders. The increase in demand for affordable healthcare delivery systems because of rising healthcare costs, technological modernizations and government initiatives to promote home healthcare is also expected to drive North America home healthcare industry. Conversely, limited insurance coverage, unstable reimbursement policies, and patient’s safety concerns are few factors that may restrict the growth of the market.
One of the significant trends witnessed recently in North America home healthcare market is the growing consumer preference for treatment at home rather than hospitals to reduce hospital expenditure. The shift from hospital treatment to proactive monitoring will introducing new opportunities for the market. At present, large number of patients are preferring home healthcare over hospitals for the convenience, cost and privacy it offers. Other factors like easy availability, innovation, aging demographics and growing chronic diseases are driving the market growth in terms of revenue.
The rising healthcare cost and growing chronic illnesses are forcing Canadian government to put forth more initiatives for home healthcare services. This has propelled several Canadian home healthcare companies to invest significantly.
Service Outlook:
- Home Care
- Unskilled home care
- Durable medical equipment (DME)
- Mobility assistance
Type Outlook:
- Home Telehealth Monitoring Devices
- Home Telehealth Services
- Home Telehealth Software
Regional Outlook:
Geographically, North America home healthcare industry is segmented as USA, Mexico and Canada. Canada is predicted to hold larger market share due to growing number of government policies concerning the market.
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