Home Healthcare Market worth 349.8 Billion USD by 2020 Home Healthcare Market worth 349.8 Billion USD by | Page 2

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. The testing, screening,
and monitoring products segment is expected to account for the largest
share of the home healthcare market, by product, in 2015. The rising
emphasis on preventive medicine is expected to boost the growth of the
home healthcare testing, monitoring, and screening devices market. The
potential to reduce healthcare complications and ensure the portability of
devices with high accuracy is expected to create a significant demand for
monitoring and testing devices. Moreover, with the rising number of
patients suffering from chronic diseases in many countries across the
globe, the demand for these products is increasing.
The telehealth market is poised to grow at the highest CAGR during the
forecast period, owing to the increasing adoption and utilization of
telecommunication in providing care.
Based on region, the home healthcare market is segmented into North
America, Europe, Asia, and the Rest of the World (RoW). North
America is further subsegmented into the U.S. and Canada; while
Europe is further subsegmented into Germany, the U.K., France, Italy,
Spain, Russia, and Rest of Europe (RoE). In 2015, North America is
expected to dominate the market, followed by Europe. The converging
trends of aging population, technological advancements, and favorable
reimbursement policies are driving the home healthcare market in North
America. However, Asia is poised to be the fastest-growing region