The home healthcare market generates approximately 70% of revenues from the people aged 65 years and above; mainly because of the declining “elderly support ratio”, or the ratio of the number of people caring for the elderly, to the number of older people above 65 years. This factor highlights the growth potential of the market for third-party care in the coming years.
Browse complete report here: http://www.marketsandmarkets.com/Market-Reports/home-health-care-market-133.html In 2009, the entire home healthcare market covered under the report is estimated to be approximately $159.6 billion and is expected to grow by 8.2% to reach $237.6 billion by 2014. Home healthcare service market is estimated to constitute $143.1 billion in 2009, which is about 90% of the entire market.
The most important trend in healthcare witnessed in the recent times has been a shift of patient’s focus from hospitals to home care. The move from treatment to proactive monitoring has opened up new opportunities in the home healthcare market. Patients prefer home healthcare over hospitals mainly for the latter’s cost and convenience benefits; and are thus increasingly opting for third-party medical professionals and care-givers.
The major factors driving the growth of the home healthcare market are:
Declining elderly support ratio
Patient preference for portability, automation and customization
Physicians and hospitals prescribing home care to the patients to reduce huge patient inflow
Rise in number of vehicle accidents and sports injuries
The factors that may hinder the growth of the home healthcare market are:
High manufacturing cost
Competition with existing technologies
Non-supportive government reimbursement policies
Major opportunities for the home healthcare market
Focus shift from treatment to proactive monitoring
Rising demand of third-party care
The major segments in the home healthcare market include home healthcare equipments and home healthcare services. The home healthcare equipment market includes home therapeutic equipments, self diagnostic and patient monitoring equipments, and mobility assist devices. The home healthcare services market include home visits and nursing services, home infusion therapy services, home respiratory therapy services, and home telemedicine.
The market for home healthcare services is estimated to reach $207 billion by 2014. Home visits and nursing services constitute 72% of the entire market. Most of the growth potential lies in the field of home telemedicine services, the market for which is forecasted to grow at a CAGR of 32.3% from 2009 to 2014. Diabetes devices alone constitute about 46% of the entire home healthcare equipment market, while the market for home therapeutic equipment is the fastest-growing segment with a CAGR of 19.4%.
Contact our representative to sponsor this report
MarketsandMarkets is a research and consulting firm that publishes 120 market reports per year. Each strategically analyzed report contains 250 pages of valuable market data, including more than 100 market data summary tables and in-depth, five-level segmentation for each of the products, services, applications, technologies, ingredients and stakeholders categories. Our reports also analyze about 200 patents, over 50 companies and micro markets that are mutually exclusive and collectively exhaustive.
108, West 13th Street,
Wilmington, DE, 19801
County of New Castle
Sender Name: Sunita
Sender E-mail: firstname.lastname@example.org