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Rising Geriatric Population and Increasing Incidence of Chronic Ailments to Boost Global Home Healthcare Market

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Published on : Apr 06, 2016

In an increasingly independent world, where consumers are pampered and wooed with the launch of advanced wireless technology almost every other day, the healthcare industry is the only sector rooted to a conventional and professionally-controlled setting. However, paradigm shift in consumer trends has necessitated decentralization of healthcare services to ensure improved patient care.

Rising Geriatric Population Boosts Global Home Healthcare Market

Global home healthcare market is anticipated to report impressive growth over the forthcoming years. Home healthcare includes a wide range of healthcare services that can be delivered to patients in their home. This category of healthcare services has been witnessing increasing demand particularly for treatment of minor injuries and illnesses. Furthermore, home healthcare services has been gaining popularity because they are less expensive, yet just as effective as they might be in any organized healthcare setting or a hospital. The global market for home healthcare has been gaining impetus from the rising geriatric population, the increasing incidence of chronic ailments, growing demand for affordable healthcare delivery systems, and favorable government initiatives. 

Demand for Testing and Monitoring Products to Increase Significantly

Products such as therapeutic products, mobility care products, and screening products used for testing, screening, and monitoring patient witness the highest demand in the global home healthcare market. Of these the products used for testing and diagnosis have been experiencing rising demand in response to the expansion of the home healthcare market. Testing products may include HIV test kits, pregnancy test kits, pulse oximeters, heart monitoring systems, peak flow meters, blood pressure monitors, and others. However, the type of products needed varies from patients to patients depending upon their ailment of conditions. The demand for mobility care products such as mobility scooters, crutches, cranes, and walkers is also expected to rise in the near future. 

North America Boasts Most Lucrative Prospects for Global Home Healthcare Market

Regionally, North America exhibits the most lucrative prospects for the market at present. The implementation of favorable government policies and reimbursement cuts will also give significant impetus to the market for home healthcare services and products in North America.