This market research study presents a comprehensive analysis of the global home healthcare market by type (products, services, and solutions), by application (testing, monitoring, and screening, therapeutic solutions, fitness and nutrition, and others), and by geography (the Americas, APAC, Europe, and MEA). Leading vendors in this market are Johnson & Johnson, Omron Healthcare, Philips, McKesson, and Roche.
Technavio’s market research analysts estimate the global home healthcare market to grow at a CAGR of almost 9% between 2016 and 2020. The increasing demand for affordable home healthcare solutions owing to the increase in the prices of drugs, medical devices, and hospital services is the primary driver for the market. Home healthcare solutions include health monitoring devices and other services that can be used by the patient in their homes at reduced costs. At present, the Americas dominate the global home healthcare market by accounting for almost 38% of the overall market share. The increase in the number of chronic disease patients, rapidly growing population of aging baby boomers, need for requisite healthcare facilities, and the lack of disease management are some of the factors that will propel the market in the coming years.
The new market research report from Technavio presents a breakdown and analysis of the home healthcare segments by application.
“One of the latest trends that this market is witnessing is the advancements in technology. Home healthcare systems have evolved from products such as blood glucose level monitors and heart rate monitors to complete home healthcare solutions, that can be used to track a patient’s vitals by a physician of healthcare professional remotely. For instance, Intel-GE Care Innovations and iHealth in the form of a new line of vital sign monitoring products in the Care Innovations Connect Platform using cloud-based technology,” says Abhay Sinha, Lead Analyst, New Coverage, Technavio Research.
The testing, monitoring, and screening segment dominated the global home healthcare market in 2015, and accounted for over 42% of the market share. The increase in the number of devices that can accurately record vitals, monitor health, and track activities is one of the major growth drivers for this market during the forecast period. In 205, the Americas contributed for the majority share of revenue from the testing, monitoring, and screening home healthcare market.
The key vendors in the global home healthcare market include Johnson & Johnson, Omron Healthcare, Philips, McKesson, and Roche. The global market for home healthcare is highly competitive due to the presence of several large and small vendors. Vendor competition is expected to intensify with the increase in product extensions, new product launches, and new applications of integrated product offerings. The market players compete in terms of service, quality, pricing, and product differentiation to gain a competitive edge over their peers.
A more detailed analysis is available on the Technavio report, Global Home Healthcare Market 2016-2020.
We can customize reports by other regions and specific segments upon request.
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