Updated on 29 September 2015
(Photo Courtesy: www.coronaregional.com)
Singapore: According to a new market research report by MarketsandMarkets, the global Home Healthcare Market is expected to reach $ 349.8 billion by 2020 from $ 227.5 billion in 2015, at a CAGR of 9.0% during the forecast period.
The growth of this market is mainly driven by factors such as rising geriatric population across the globe, growing need of cost-effective healthcare delivery due to increasing healthcare costs, rising incidences of chronic diseases, and technological advancements in devices.
However, changing reimbursement policies, limited insurance coverage and risks to personal safety of home care workers are the factors restraining the growth of this market to a certain extent.
The report segments the Home Healthcare Market based on products, services, software, telehealth, and region.
Based on products, the market is segmented into testing, screening and monitoring products; therapeutic products; and mobility care products.