The global home healthcare market consisting of diagnostics and monitoring devices, therapeutics devices, mobility assist devices and medical supplies will increase to $303.6 billion in 2020, up from $176.1 billion in 2013.
The growth of this market is mainly driven by:
- Rising global geriatric population with the number of people who are 65 years and older expected to increase to 2 billion by 2050 from 605 million in 2000.
- Growing need of cost-effective healthcare delivery due to increasing healthcare costs and emphasis on preventive medicine.
- Increased incidences of chronic diseases.
- Advancements in portable devices and medical technology.
- Patients preference for home healthcare over hospital care.
- Importance of data analytics.
The home healthcare market is segmented by product types into:
- Therapeutic equipment
- Diagnostic equipment
- Mobility assists
The therapeutic equipment market is segmented into home respiratory therapy equipment, insulin delivery, home dialysis equipment and therapeutic equipment.
The diagnostic equipment market is classified into diabetic care unit, BP monitors, home IV (intravenous) pumps, multi parameter diagnostic monitors, home pregnancy and fertility kits, self monitoring equipment, sleep and apnea monitors and heart rate meters.
The mobility assist market is segmented into wheel chair, home medical furniture and walking assist devices.
Key services in the home healthcare market include rehabilitation, unskilled home care, respiratory therapy services, infusion therapy services and telemetry.
The market for diagnostics and monitoring devices segment account for the bulk of the home healthcare devices market. However, the fastest growing segment is therapeutics devices consisting of insulin delivery devices, nebulizers, ventilators and CPAP devices to treat sleep apnea, IV equipment and dialysis equipment.
| Alarms | Emergency first aid supplies |
| Ambulatory aids cane accessories | Feeding systems |
| Automobile aids | Foot care products |
| Back supports | Furniture and supplies |
| Bandages | Hydrotherapy products |
| Bathroom safety aids | Lifts |
| Cushioning supports | Maternity products |
| Clothing | Monitors |
| Daily living aids | Physical/occupational therapy equipment |
| Diabetes products | Rehabilitation supplies |
| Diagnosis equipment | Respiratory care equipment |
| Dialysis home units |
The Home Healthcare Products industry model set consists of Enterprise, Business Area, and Data Warehouse logical data models developed for companies manufacturing and marketing home healthcare products.
Home healthcare products tend to have high profits margins of as much as 50%, which justify their evaluation based upon gross margin versus unit sales.
Home healthcare products that were once available only in specialty stores are now marketed via a variety of retail and drug store channels.
As the general population ages and home caregiving becomes more prevalent home healthcare products will play an even larger role in consumer spending.
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