Home healthcare includes support and care services and devices which are provided at the patient's home. These care services include respiratory therapy, home infusion therapy, rehabilitation services, telehealth, unskilled home care and other services.
The most significant healthcare trend witnessed recently is the shift of treatment from hospitals to home in order to gain a cost advantage and reduce hospital expenditure. The move from treatment to proactive monitoring is also opening up new opportunities for the home healthcare market. Patients prefer home healthcare over hospitals mainly for the convenience and cost-effectiveness it offers. Third party home healthcare is witnessing huge demand due to better treatment quality ensured by trained medical professionals. The home healthcare market is expected to grow at a CAGR of 7.7% from 2011 to 2016.
This market is witnessing tremendous growth due to the rise in the aging population not only in the developed regions of the world but also in the developing countries. Awareness about the convenience and cost effectiveness offered by these equipment and services is also increasing the demand for this market. Asia displays a high CAGR owing to the rapidly increasing aging population in countries such as India, China, and Japan. Americas also maintains a stable growth mainly due to the reimbursements offered for specific equipment and the health policies of Medicaid and Medicare. Portability, customization, and automation are the key factors that home healthcare market players use to differentiate their products and services.
The geographies studied include Americas (U.S., Canada, Brazil, Mexico, and Rest of Americas), Europe (Germany, France, U.K., Italy, Spain, Russia, and Rest of Europe), Asia (India, China, Japan, South Korea, and Rest of Asia), and ROW (Pacific region which includes Australia and New Zealand, Middle East and Africa). Among all the geographies mentioned above Americas commanded the largest share of 52.1% in the year 2011 of the Global Home Healthcare Market.
The scope of the report spans the home healthcare equipment market which comprises:
Each section of the Home Healthcare Market research report offers market data for the various market segments and geographies. It also provides market trends with respect to drivers, restraints, and opportunities.
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