Home Healthcare Market - Report Highlights the Competitive Scenario with Impact of Drivers and Challenges 2022

The global home healthcare market includes broad range of medical devices and services that help to treat patients at their residence. Increasing number of patients with chronic diseases, such as respiratory diseases, cardiovascular disorders, and diabetes; and growing geriatric population are some of the major factors driving the growth of the market. Due to rising healthcare cost globally, the market for home healthcare products and services is expected to grow steadily in the coming years.

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Geographically, the home healthcare market is categorized into North America, Europe, Asia-Pacific (APAC), Latin America (LATAM), and Middle East and Africa (MEA). North America holds the largest share in the market, owing to technological advancements, increased awareness about home healthcare technologies, and increased healthcare infrastructure in the region.

Globally, Europe is the second largest market, due to increasing support from government and private organizations, and technology advancements. However, APAC is the fastest growing market for home healthcare products and services in the world. Major factors contributing to the growth of the APAC market include increasing prevalence of chronic diseases, growing geriatric population, and rising investments from international players.

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Key market players in the home healthcare industry are introducing new product and solutions. For instance, in November 2018, Fisher & Paykel Healthcare Limited introduced its new enter nasal high-flow therapy device, “Airvo”, for home settings. It delivers warm and humid air at a set flow to liquefy debris in the upper airway, which helps patients cough that material out or swallow. It was earlier debuted for hospital settings; but later launched it for home settings as well.

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Some of other players in the global home healthcare market are Merck and Co Inc., Phillips Healthcare, 3M Healthcare, Abbott Laboratories, Siemens Corporation, Cardinal Health Inc., GE Healthcare, and Medtronic plc.

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