Home care or domiciliary care is supportive care provided by the
licensed healthcare professionals in the home itself. It ensures that the
activities of daily living (ADL’s) are met. More accurately it is referred as
the Home healthcare or formal care which distinguishes it from non-medical
care, custodial care or private duty care which is basically given by persons
who are not licensed medical personals. Home healthcare services may include
short-term nursing, therapeutic, rehabilitative, and assistive home healthcare.
Specifically speaking, home healthcare may also include occupational and physical therapy, speech therapy, and even skilled
nursing.
Source: https://www-edc.eng.cam.ac.uk/
The healthcare market is witnessing a tremendous
growth over the few years. The most significant trend witnessed in the
healthcare market recently is the shift of treatment from hospitals to home in
order to reduce expensive hospital expenditure. This shift has been opening up
new major opportunities for the healthcare market. Various factors contributing
to this are innovations in healthcare market, easy availability, aging
demographics and increasing chronic diseases. These factors are driving the
U.S. healthcare market significantly which has the largest share of the global
healthcare market in terms of revenue. All these factors have made home
healthcare a lucrative market for various companies. However there are few
factors like cut in Medicare payments to home health agencies and risk to the
safety of home healthcare workers which are limiting the growth of this market.
Source: http://www.cepro.com/images/
According to a new market research report by
MarketsandMarkets, the home healthcare market has been witnessing a surge as it
offers heavy cost advantage to the patients by reducing their hospital
expenditure. The North America home healthcare market was valued at $90.9
billion in 2012; it is poised to grow at a CAGR of 7.5% to reach $130.4 billion
by 2017. The report analyzes and studies the major market drivers, restraints,
and opportunities in North America.
In the report the home healthcare market has been
broadly segmented on the basis of products, services, and tele-health. Factors
like prominent chronic diseases and increasing healthcare cost, are fueling the
growth of this market. According to the report, the U.S. is dominating the North
American home healthcare market and is expected to maintain that position in
the coming five years owing to the rising aging population, increasing chronic
diseases, technological developments for various home use applications (home
healthcare therapeutic equipment, home healthcare testing monitoring devices
and mobility assist & other devices), positive response to home-based
devices, increasing awareness, and insurance coverage in the country. The
prominent home healthcare service provider companies are Apria Healthcare Group
(U.S.), Amdisys Inc. (U.S.) and Gentiva Health Service Inc. (U.S.) while key home healthcare product
manufacturing companies are Alere, Inc. (U.S.), Fresenius Se & Co KGAa
(Germany), GE Healthcare (U.K), Baxter International, Inc. (U.S.), B. Braun
Melsungen AG (Germany), Philips Healthcare (The Netherlands), and Roche
Holdings (Switzerland).
The report can be referred here:
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