Global Home Healthcare Market to Expand at 8.10% CAGR from 2014 to 2020 owing to Rising Prevalence of Chronic Diseases Transparency Market Research has published a new report on the global home healthcare market. As per the report, the global home healthcare market is predicted to progress from US$176.1 bn in 2013 to US$303.6 bn by 2020. The report, titled ‘Global Home Healthcare Market - Industry Analysis, Size, Share, Growth, Trends and Forecast, 2014 - 2020’, states that the global home healthcare market is expected to expand at a 8.10% CAGR during the period between 2014 and 2020.
The risk for hypertension, end-stage kidney diseases, stroke, respiratory and other chronic diseases is rising constantly worldwide. For example, in 2012, International Union Against Tuberculosis and Lung Disease stated that asthma affects nearly 235 million people worldwide and the number is projected to increase in near future. Home healthcare business offers precision-based model for personal care of these types of chronic diseases and is witnessing high acceptance among patient population. Increasing sedentary lifestyle and aging population globally would surge the demand of home healthcare devices and services market. However, accuracy and limited geographic presence of service providers are some of the factors that restrict the growth of this market. For example, home healthcare service providers like The Linde Group and Gentiva Health Services, Inc. has limited market geographic presence in economies like Asia-Pacific, Russia and Latin America. The global home healthcare market is estimated to be USD 176,107.9 million in 2013 and is expected to reach USD 303,605.9 million by 2020, growing at a CAGR of 8.1% from 2014 to 2020. The market of global home healthcare market is categorized as device types and services. Home healthcare devices market is segmented as diagnostics and monitoring home healthcare devices, therapeutics home healthcare devices, mobility assist devices and medical supplies. The market for diagnostics and monitoring devices segment accounted for the largest share owing to rising prevalence of chronic diseases coupled with increasing healthcare awareness. However, therapeutics home healthcare devices segment is expected to grow at the highest CAGR of over 10% from 2014 to 2020. Introduction of advanced and easy to use therapeutics home healthcare devices will help this segment to record highest CAGR. Read Full Report: http://www.transparencymarketresearch.com/home-healthcare-market.html Services segment in the global home healthcare market accounted for the largest share in 2013. This dominance was majorly due to the presence of large number of home healthcare service