Home Healthcare Market: Rising elderly population & growing healthcare costs boost the global industry

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Home Healthcare Market: Rising elderly population & growing healthcare costs boost the global industry

Home healthcare is a wide industry that consists of companion care, infusion services, home nursing care, and others. It is predominantly cited as home medical care. It usually involves assisting elderly people to recuperate from an injury or illness and live by themselves for as long as possible. It comprises speech therapy, skilled nursing, and occupational & physical therapy. It may consist of assisting elder people with daily living activities such as dressing, eating, and bathing. It can also comprise helping with cleaning, cooking, other housekeeping, and keeping track of one’s medication schedule.

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As per the report, the worldwide home healthcare market was priced at USD 228.90 Billion in 2015 and is anticipated to produce revenue of USD 391.41 Billion by 2021, developing at a 9.40% CAGR between 2016 and 2021.

The worldwide market is largely fueled by the rising elderly population, the growing healthcare costs, and technological improvements in healthcare devices. With the growing health alertness among individuals, the rise in a number of individuals analyzed with chronic diseases such as respiratory diseases and diabetes cardiac disorders, the demand for home healthcare is anticipated to rise in the coming period. The population of elderly people is rising swiftly around the globe. The aging population is more susceptible to chronic diseases such as diabetes, which in turn, is projected to drive the market growth. However, the altering reimbursement policies and restricted insurance coverage are few factors that can hamper the growth of the market.

Beurer GmbH Germany is one of the leaders in the well-being and health sector for more than 98 years. It is already functional in more than 100 countries and now the worldwide brand is geared up to make a way into the Indian market, with their high-quality product solutions that are personalized to the requirements of the consumers and add to a healthy lifestyle.

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The market is divided based on services and products. On the basis of services, the market is categorized into rehabilitation services, respiratory therapy services, infusion therapy services, unskilled home healthcare services, and telemedicine & telehealth services. On the basis of products, the global home healthcare market is categorized into therapeutics home healthcare devices, home mobility assists devices, medical supplies, and diagnostics & monitoring home devices. The diagnostics & monitoring home devices segment include pregnancy test kits, temperature monitors, blood pressure monitors, heart rate monitors, and others.

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