Press release
Canada Home Healthcare Market Industry Analysis and Forecast
According to a report by Transparency Market Research (TMR), the Canada home healthcare market is expected to expand at CAGR of 8.9% from 2014 to 2020, to attain the value of US$18,939.9 mn by the end of 2020 from US$10,449.1 mn in the year 2013. Based on services, the Canada home healthcare market is dominated by the telehealth and telemedicine segment and expected to expand with a CAGR of 11.0% by the end of 2020. Canada home healthcare market is dominated by the province Ontario followed by Quebec in 2013, expand with CAGR of 9.2%.
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Increasing Number of People Suffering from Chronic Diseases to Fuel Adoption
Increasing number of the people suffering from chronic diseases such as diabetes, arthritis, and cancer is driving the growth of the home healthcare market presence in Canada. The home healthcare market is fuelled by the prevalence of diseases and growing geriatric population in Canada. Additionally, rising need for the first aid at home is augmenting adoption of the home healthcare products, which is boosting growth of the home healthcare market in Canada.
Factors such as technological advancement and cost-effectiveness of the home healthcare products are propelling its adoption and which is driving growth of the home healthcare market presence in Canada. Moreover, technological advances have increased efficiency of the products which delivers the optimum time is propelling growth of the home healthcare market in Canada.
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Concerns over Patients Safety to Restrain Growth
Despite of these growth prospects, limited insurance coverage and changing reimbursement policies are restraining growth of the home healthcare market. Additionally, some of the concerns over patient safety are limiting growth of home healthcare market presence in Canada. Nevertheless, high capital investment for new product launch is creating lucrative opportunities for growth of the home health care home market in Canada. Additionally, high cost of treatment and hospitals stays are leading to adopt the home healthcare products which is having potential opportunities for growth over the forecast period.
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This information is encompassed in the new report by TMR, titled “Canada 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) - Industry Analysis, Size, Share, Growth, Trends and Forecast 2014 - 2020.”
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Transparency Market Research is a next-generation market intelligence provider, offering fact-based solutions to business leaders, consultants, and strategy professionals.
Our reports are single-point solutions for businesses to grow, evolve, and mature. Our real-time data collection methods along with ability to track more than one million high growth niche products are aligned with your aims. The detailed and proprietary statistical models used by our analysts offer insights for making right decision in the shortest span of time. For organizations that require specific but comprehensive information we offer customized solutions through ad hoc reports. These requests are delivered with the perfect combination of right sense of fact-oriented problem solving methodologies and leveraging existing data repositories.
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