Canada Home Healthcare Market to reach USD 18,939.9 million by 2020
Report states that the market stood at US$10.45 bn in 2013 and is expected to reach US$18.94 bn by 2020 owing to the rising incidences of lifestyle and chronic diseases and the technical advantages in home healthcare services.
[USPRwire, Mon May 13 2019] The home health care market includes a wide range of medical devices and services that are used by patients to treat, diagnose, and monitor a variety of chronic diseases. These devices and services play an important role in providing cost-effective health care to the patients. The home health care market offers lucrative business opportunities in Canada due to increased acceptance of home health care, technological advancements, and cost-effective alternatives compared to other modalities (i.e. hospital visits). Factors such as aging population and increasing number of people diagnosed with chronic diseases such as diabetes, cardiac disorders, and respiratory diseases are driving the growth of the home health care market in Canada.
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The Public Health Agency of Canada estimated that three individuals out of five in Canada (aged 20 years and above) suffer from chronic diseases such as diabetes, cancer, mental illness, and cardiovascular diseases, and four out of five are at risk of developing chronic conditions. Moreover, several organizations, such as the Commission on Accreditation of Rehabilitation Facilities Canada, offer accreditation programs to the home care service providers to improve their home care business operation and quality of patient care, which in turn would contribute to the growth of the market. Other factors fueling the growth of the home health care market are aging population, rising government spending on home care services, and cost effectiveness However, the high cost of professional health care services and home medical devices is likely to restrain market growth.
This report encompasses a detailed study of various home medical devices and home health care services in Canada. Home health care devices have been segmented into diagnostic and monitoring devices, therapeutic devices, home mobility assist devices, and medical supplies. The diagnostic and monitoring devices segment includes blood glucose monitors, blood pressure monitors, sleep apnea monitors, pregnancy test kits, pulse oximeters, heart rate monitors, temperature monitors, pedometers, and coagulation monitors. The therapeutic devices segment comprises insulin delivery devices, nebulizers, ventilators and CPAP devices, IV equipment, and dialysis equipment. The home mobility assist devices segment has been further categorized into wheelchairs, cranes and crutches, and other mobility assist devices. The market size and forecast for each device type has been provided for the period from 2012 to 2020, considering 2013 as the base year. The report also provides the compound annual growth rate (% CAGR) for the forecast period from 2014 to 2020 for each segment.
Based on services, the home health care market has been segmented into rehabilitation services, respiratory therapy services, tele-health and telemedicine services, infusion therapy services, and unskilled home health care services. The market size and forecast in terms of USD million for each service has been provided for the period from 2012 to 2020, considering 2013 as the base year. The report also provides the compound annual growth rate (% CAGR) for the forecast period from 2014 to 2020 for each segment.
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The home health care market in Canada has been segmented into four major regions: Ontario, Quebec, Alberta, and Rest of Canada. The market size and forecast for each province has been estimated for the period from 2012 to 2020 in terms of revenue (USD million), considering 2013 as the base year. The report also provides the compound annual growth rate (CAGR %) during the forecast period from 2014 to 2020 for all the provinces mentioned above.
The market overview section of the report discusses the market dynamics with respect to the market drivers, restraints, and opportunities. This section also covers market attractiveness analysis of the home health care market in Canada. A list of recommendations for new players planning to enter the market and for existing players to enhance their market shares is also presented in the report. The report concludes with company profiles of key players operating across various segments of the market. Each company profile includes business overview, financial overview, product portfolio, business strategies, and recent developments. Some of the prominent players in the home health care market in Canada that have been profiled in the report include 3M Health Care, Abbott Laboratories, Inc., Cardinal Health, Inc., Johnson & Johnson, GE Company, Invacare Corporation, and Medtronic, Inc.
The Canada Home Healthcare market is segmented into the following categories:
- Canada Home Healthcare Market, by Device Types
- Diagnostic and Monitoring Devices
- Blood Glucose Monitors
- Blood Pressure Monitors
- Heart Rate Monitors
- Temperature Monitors
- Sleep Apnea Monitors
- Coagulation Monitors
- Pregnancy Test Kits
- Pulse Oximeters
- Therapeutic Home Healthcare Devices
- Insulin Delivery Devices
- Ventilator and Continuous Positive Airway Pressure (CPAP) Devices
- Intravenous (IV) Equipment
- Dialysis Equipment
- Home Mobility Assist Devices
- Cranes and Crutches
- Other Home Mobility Assist Devices (Walkers, Rollators and Mobility Scooters)
- Medical Supplies
- Diagnostic and Monitoring Devices
- Canada Home Healthcare Market, by Services
- Rehabilitation Services
- Telehealth and Telemedicine Services
- Infusion Therapy Services
- Respiratory Therapy Services
- Unskilled Home Healthcare Services
- Canada Home Healthcare Market, by Provinces
- Rest of Canada
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