Transparency Market Research Report Added “Latin America Home Healthcare Market (By Device Types: Diagnostics and Monitoring Devices, Therapeutic Home Healthcare Devices, Mobility Assist Devices and Medical Supplies; By Services: Rehabilitation, Telehealth and Telemedicine, Respiratory Therapy, Infusion Therapy and Unskilled Home Healthcare Services) ” to its database.
Latin America Home Healthcare Market: Discription
Home healthcare devices and services help the patients to be self-sufficient towards their health. This is been increasingly accepted by the patient population owing to its cost effective nature, less number of visits to hospital and patient comfort. The Latin America home healthcare market has witnessed significant growth in the past due to factors such as increasing number of patients diagnosed with chronic diseases like diabetes, cardiac disorders, respiratory diseases and others. At the same time, economic instability and reimbursement issues related to home healthcare services are the factors restraining the market growth during the forecast period from 2014 to 2020.
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This report provides an in-depth and comprehensive analysis of the Latin America home healthcare market on the basis of device types, services and the major Latin American geographies. In device types segment, the report covers different types of diagnostic and monitoring devices, therapeutic devices, medical supplies and home mobility assist devices that are used by the patients. Diagnostics and monitoring devices segment includes devices such as blood glucose monitors, blood pressure monitors, sleep apnea monitors, pregnancy test kits, pulse oximeters, heart rate monitors, temperature monitors, pedometers and coagulation monitors. Therapeutic devices segment comprises insulin delivery devices, nebulizers, ventilators and CPAP devices, IV equipment and dialysis equipment. The home mobility assist devices segment is further categorized as wheelchairs, cranes and crutches and other mobility assist devices and medical supplies segment includes feeding tubes and syringes. The market size and forecast for each device type has been provided for the period 2012 to 2020, considering 2013 as the base year. The report also provides the compounded annual growth rate (% CAGR) for the forecast period 2014 to 2020 for each segment.
Latin America Home Healthcare Market: Overview
Home healthcare represents use of medical devices and community based services to support patients suffering from chronic diseases. Currently, the home healthcare market is moving towards a precision-based model of personal care. Home-based medical devices and services play an important role in providing personal care to patients in managing variety of disease conditions such as diabetes, chronic obstructive pulmonary disease and blood pressure. Increasing patient population with chronic diseases such as diabetes, blood pressure, cardiovascular conditions and respiratory diseases globally (including Latin America) would drive the demand for home-based medical devices and services. These diseases require continuous monitoring, and thus involve high cost due to repeated visits to healthcare centers that inflate medical expenses. Thus, home healthcare devices and services are being rapidly adopted by consumers to measure parameters on a regular basis and to cut down medical costs. The Latin America home healthcare market is estimated to be USD 9,796.8 million in 2013 and is expected to reach USD 17,550.0 million by 2020, growing at a CAGR of 8.7% from 2014 to 2020.
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Latin America home healthcare market is mainly segmented into device types and services. Latin America home healthcare device segment is considered to be the largest segment and is estimated to grow at the highest CAGR during the forecast period from 2014 to 2020. This growth was mainly attributed to high acceptance of medical devices coupled with technological advancements (introduction of automated and portable devices) to fuel the growth of the home healthcare devices market in Latin America. The market of ventilators and CPAP devices segment is estimated to grow at the highest CAGR of 11.4% from 2014 to 2020. The mobility assist devices segment is further categorized into wheelchairs, cranes and crutches and other home mobility assist devices.
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