Geriatric Population and Chronic Diseases Augment Home Healthcare

San Francisco, California, May 24, 2017: TMR Research explains the various factors of influence that are influencing the demand for home healthcare services, equipment, and technology development, in “Home Healthcare Market – Global Industry Analysis, Size, Share, Trends, Analysis, Growth, and Forecast 2017 – 2025.” Home healthcare involves the use of modified healthcare services as well as devices that are capable of monitoring a patient’s status and aiding them at their own home. Home healthcare services are becoming extremely valuable in the overall treatment process of a patient. They primarily allow a patient to recover and receive professional medical treatment in the comfort of their own home. From a financial perspective, home healthcare allows both hospitals and patients to significantly cut down their total expense on the treatment. Additionally, implementing home healthcare allows a hospital or a healthcare organization to free up space in their institution, thereby allowing them to treat more patients at a faster pace.

The key factors currently driving the global home healthcare market include the growing cases of chronic diseases across the world. The increasingly negative influences on daily lifestyle are promoting a high rate of infliction of chronic diseases which can be highly expensive if the patient seeks treatment within a healthcare organization’s premise. The global home healthcare market therefore can provide a convenient and cost-effective option to all patients suffering from chronic ailments. Another related factor driving the global home healthcare market is the growing geriatric population across the world. The reducing mortality rates and the consequent increase in the overall number of elderly patients that can avail medical treatments is increasing at a very fast pace. This is especially applicable in developed economies.

From a regional perspective, the global home healthcare market has so far been dominated by North America, owing to a very high percentage of geriatric patients, coupled with a high number of people suffering from chronic illnesses, obesity, and diabetes. Europe follows North America in terms of demand volume in the global home healthcare market and both regions are likely to maintain their positions in the market over the coming years. At the same time, emerging economies from Latin America and Asia Pacific are showing a very high rate of adoption of home healthcare services, due to high population densities and the lack of space in healthcare organizations.

The leading players in the global home healthcare market at the moment, include Invacare Corporation, Teleflex Corporation, Medtronic, Inc., Johnson & Johnson, F. Hoffman-La Roche Ltd., Omron Healthcare, Inc., Abbott Laboratories, Praxair Technologies, Inc., Cardinal Health, and Gentiva Health Services, Inc.