Published on : May 26, 2016
Home healthcare products are majorly the broad range of services and equipment designed exclusively for usage in non-medical facility or home by family members, non-professional caregivers, or patients themselves. The key factors driving the growth of the market include the globally rising aging population, resulting in self-monitoring of numerous chronic medical conditions such as asthma, diabetes, chronic obstructive pulmonary disease, and others.
The market outlook of home healthcare products has been presented as under:
- Self-Monitoring Equipment Utilized for Blood Glucose Monitoring, a Key Tool for Diabetes Management: The market for home healthcare products, on the basis of product, is segmented into therapeutic equipment, diagnostic equipment, and mobility assists. Amongst these, therapeutic equipment is further segmented into home respiratory therapy equipment, home dialysis equipment. insulin delivery, other therapeutic equipment. Diagnostic equipment market is further classified into BP monitors, diabetic care unit, home IV (intravenous) pumps, home pregnancy and fertility kits, multi-parameter diagnostic monitors, apnea, sleep monitors, heart rate meters (include pacemakers), Holter monitors, and other self-monitoring equipment. Mobility assists are further segmented into home medical furniture, wheel chair, and walking assist devices. Out of these, self-monitoring tools are being highly employed for monitoring glucose and is beneficial for those who need insulin treatment.
- Infusion Therapy Services to Lead Market: Major services in the home healthcare market are rehabilitation (primarily hospital care), respiratory therapy services, unskilled home care, telemetry, and infusion therapy services. Telemetry is further segmented into telemedicine and remote patient monitoring. On the other hand, infusion therapy services are further segmented into total parenteral nutrition, enteral nutrition, intravenous chemotherapy, pain management, and intravenous antibiotic therapy. Amongst these, infusion therapy services are expected to exhibit the highest growth rate in the coming years owing to the rising aging population globally.
- North America Dominates Market, Asia Pacific to Rise in Future: Geographically, North America leads the market for home healthcare products owing to the rising investments in research and development and the advanced healthcare facilities within this region. On the other hand, the Asia Pacific home healthcare products market is also predicted to rise exponentially in the coming years owing to the increasing geriatric population prone to a number of diseases such as cardiovascular, orthopedic, and others and the increasing awareness amongst people residing in this region.