Latin America Home Healthcare Market Poised to Reach $37.15 Billion by 2030

Redding California, February 13, 2024 - Meticulous Research®, a globally renowned market research company, has unveiled its latest research report, 'Latin America Home Healthcare Market,' forecasting a market value of $37.15 billion by 2030. The comprehensive study covers various offerings, including equipment (therapeutic, diagnostic, and mobility) and services (skilled and unskilled), along with an in-depth analysis of applications such as cardiovascular disorders, diabetes, cancer, and more.

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The Latin America home healthcare market is projected to witness a robust Compound Annual Growth Rate (CAGR) of 9.6% from 2023 to 2030. This growth is primarily fueled by the escalating burden of chronic diseases, a surging geriatric population, rising healthcare costs, and increased healthcare expenditure. However, the market faces challenges due to a shortage of skilled professionals.

Telehealth and remote patient monitoring are emerging as key growth drivers in the Latin America home healthcare market, providing lucrative opportunities for industry players. Despite this, the market encounters hurdles in the form of low awareness regarding home healthcare.
The market segmentation is based on offering (equipment and services), application (cardiovascular disorders, diabetes, respiratory diseases, pregnancy, mobility disorders, cancer, wound care, and other conditions), and country (Brazil, Mexico, Argentina, Colombia, Chile, Venezuela, Peru, Ecuador, Uruguay, and Rest of Latin America). The report also meticulously evaluates industry competitors, providing a comprehensive analysis of their market shares at the country level.

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In 2023, the equipment segment is anticipated to dominate the market, attributed to the user-friendly nature of home healthcare equipment, escalating hospitalization costs, and a high prevalence of chronic conditions like cardiovascular diseases, diabetes, and respiratory diseases.

The diabetes segment is expected to hold the largest market share in 2023, driven by the increasing prevalence of diabetes in Latin America, the demand for continuous glucose monitoring among diabetic patients, and advancements in diabetes technology.

Brazil is poised to lead the Latin America home healthcare market in 2023, driven by a high incidence of chronic diseases, a growing geriatric population, and higher healthcare expenditure compared to other Latin American countries. The report offers a detailed analysis of major countries, including Brazil, Mexico, Argentina, Colombia, Chile, Venezuela, Peru, Ecuador, Uruguay, and the Rest of Latin America.

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Key players operating in the Latin America home healthcare market include Abbott Laboratories (U.S.), Koninklijke Philips N.V. (Netherlands), Boston Scientific Corporation (U.S.), GE HealthCare Technologies Inc. (U.S.), Siemens Healthineers AG (Germany), Amedisys, Inc. (U.S.), LHC Group, Inc. (U.S.), Baxter International Inc. (U.S.), Becton, Dickinson and Company (U.S.), JOHNSON & JOHNSON (U.S.), OMRON Corporation (Japan), Fresenius SE & Co. KGaA (Germany), and Masimo Corporation (U.S.).

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This release was published on openPR.