(PharmaNewsWire.Com, August 08, 2019 ) The growth of this market is mainly driven by the growing geriatric population; increasing incidence of chronic diseases; and rising demand for affordable healthcare delivery systems due to increasing healthcare cost, technological advancements, and government initiatives to promote home healthcare.
The global home healthcare market is expected to reach USD 353.56 billion by 2022 from USD 237.05 billion in 2016, at a CAGR of 8.3%.
Market Dynamics
+ Market Drivers
+ Rising Incidence of Chronic Diseases + Technological Advancements + Increasing Healthcare Costs and the Growing Need for Affordable Treatment Options + Government Initiatives to Promote Home Healthcare
The therapeutic products segment is expected to dominate the market in 2017
The market is segmented into testing, screening, & monitoring products; therapeutic products; and mobility care equipment. In 2017, therapeutic products segment is expected to account for the largest share of the home healthcare products market. The large share of this segment is attributed to the rising incidence of diseases and the increasing demand for novel therapeutic devices.
The skilled nursing services segment is expected to dominate the market in 2017
The home healthcare market is segmented into rehabilitation services, infusion therapy services, unskilled care services, respiratory therapy services, pregnancy care services, skilled nursing services, and hospice and palliative care services. The skilled nursing services segment is expected to dominate the market in 2017. This can be attributed to insurance coverage of home skilled nursing services and increasing incidence of chronic diseases.
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