17 February 2015 | News | By BioSpectrum Bureau
"Global home healthcare market will be $303.6 billion by 2020"
The fastest growing segment is therapeutics devices
A new report by Transparency Market Research, finds that the global home healthcare market will increase to $303.6 billion in 2020 from $176.1 billion in 2013. The market is broadly divided into devices and services.
Home healthcare devices market can be further subdivided into diagnostics and monitoring devices, therapeutics devices and medical supplies.
The market for diagnostics and monitoring devices segment account for the largest share of the home healthcare devices market. The fastest growing segment is therapeutics devices, which is expected to grow at a compound annual growth rate (CAGR) of more than 10 percent from 2014 to 2020. It comprises of insulin delivery devices, nebulizers, ventilators and dialysis equipment etc.
The services segment is the largest within the overall global home healthcare market, providing services like rehabilitation, telehealth and telemedicine, respiratory therapy.
Some of the bigger players in the home healthcare market are, Bayer AG, Abbott Laboratories, GE Healthcare, Johnson & Johnson among others.