Home Healthcare Market to Gain Impetus from Rising Base of Geriatric Population

A new study by Transparency Market Research (TMR), titled “Home Health Care Market - Global Industry Analysis, Size, Share, Growth, Trends, and Forecast 2016 - 2024,” states that the increasing base of geriatric population and the rising incidence of chronic diseases are boosting the market significantly.

In addition to this, the emergent technical advancements in the field of home healthcare and the growing demand for highly effective yet cost-efficient healthcare delivery systems are expected to propel this market during the forecast period. However, the rising concerns over patients’ safety, consistent changes in reimbursement policies, and insufficient insurance coverage options are likely to hamper the growth of this market in the coming years, notes the research study.

The report studies the global home healthcare market on the basis of the product, service, delivery mode, and the region. Based on product, the market has been categorized into mobility care products, testing, monitoring, and screening products, and therapeutic products. Among these, the demand for testing, monitoring, and screening products is rising significantly.

Further, the study has classified the mobility care products segment into cranes, crutches, walkers, mobility scooters, and wheelchairs. The testing, monitoring, and screening products segment has been classified into heart monitoring systems, peak flow meters, blood pressure monitors, pulse oximeters, HIV test kits, and ovulation and pregnancy kits. Oxygen delivery systems, ventilators, nebulizers, wound care products, inhalers, insulin delivery devices, and dialysis devices have been identified as the main therapeutic products available in the home healthcare market.

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Based on service, the report has segmented the worldwide home healthcare market into rehabilitation services, infusion therapy services, unskilled care services, respiratory therapy services, pregnancy care services, skilled care services, and palliative care and hospice. The infusion services segment is likely to gain significant impetus from the increasing demand for these services over the forecast period.

By delivery mode, the market has been categorized into cloud-based home healthcare, web-based home healthcare, and on-premise home healthcare. Among these, the cloud-based segment is projected to dominate the global market over the forecast period.

Region-wise, the report has segmented the global market for home healthcare into North America, Asia Pacific, Europe, and the Rest of the World.

A&D Co. Ltd., Apria Healthcare Group Inc., Almost Family Inc., Abbott Laboratories, Amedisys Inc., Fresenius Se & Co. KGaA, General Electric Co., Kindred Healthcare Inc., Kinnser Software Inc., LHC Group Inc., Linde Group, Mckesson Corp., Omron Corp., Philips Healthcare, and Roche are some of the key players operating in the home healthcare market, states the research report.