Growing Chronic Diseases to Augment the Global Home Healthcare Device Market to cross USD 330 Billion by 2021
Sep 7, 2018
The global market for home healthcare device is expected to cross USD 330 Billion by 2021 by expanding at compound annual growth rate of >7% over the period 2016-2021.
New York, United States - September 7, 2018 /MarketersMedia/ —
The global home healthcare market has been segmented by device into diagnostic & monitoring devices, mobility assist devices, therapeutic devices, medical home healthcare devices and by services into rehabilitation, tele-health & tele-medicine services, infusion therapy and respiratory services. Among these segments, medical home healthcare and monitoring devices are anticipated to drive the growth of home healthcare device market owing to rising aging population around the globe.
The global market for home healthcare device is expected to cross USD 330 Billion by 2021 by expanding at compound annual growth rate of >7% over the period 2016-2021. Factors such as rising chronic diseases and growing geriatric population around the globe are anticipated to drive the growth of home healthcare device market with noteworthy revenue by the end of 2021. Further, increasing government support towards healthcare insurance for people so as to enjoy the homecare services is anticipated to propel the growth of home healthcare device market over the forecast period.
In the regional segment, North America represented the largest share in home healthcare device market and is expected to continue its dominance in upcoming years owing to the rising number of chronic diseases combined with introduction of Affordable Care Act 2010. Further, due to the advancement of healthcare technology in developing nations like India & China, Asia Pacific region is anticipated to be the second largest contributor to global home healthcare device market.
Geriatric Population to Boom the Market
Factors such as growing aging population worldwide and rise in chronic diseases due to population density are expected to benefit the expansion of the global home healthcare device market. Further, initiatives taken by government and health organizations to provide better services combined with advancement in healthcare technologies are believed to supplement the growth of the home healthcare device market globally.
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However, communication gap and misalignment between beneficiaries and buyers, missing proper medical care and high cost are likely to inhibit the growth of the global home healthcare device market in the near future.
The report titled “Global Home Healthcare Device Market Analysis & Opportunity Outlook 2021” delivers detailed overview of the global home healthcare device market in terms of market segmentation by devices, services, end user and by region.
Further, for the in-depth analysis, the report encompasses the industry growth drivers, restraints, supply and demand risk, market attractiveness, BPS analysis and Porter’s five force model.
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This report also provides the existing competitive scenario of some of the key players of the global home healthcare device market which includes company profiling of Zimmer Biomet, Siemens Healthineers, Philips Healthcare, Stryker, Medtronic, Drive Medical, Permobil, AirSep, Handicare International and TiLite.
The profiling enfolds key information of the companies which encompasses business overview, products and services, key financials and recent news and developments. On the whole, the report depicts detailed overview of the global home healthcare device market that will help industry consultants, equipment manufacturers, existing players searching for expansion opportunities, new players searching possibilities and other stakeholders to align their market centric strategies according to the ongoing and expected trends in the future.
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Source: MarketersMedia
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