Latest Report On North America Home Healthcare Market By Grand View Research Suggest Market Growth At 10% CAGR To 2022

January 21 12:06 2016

Grand View Research, Inc. – Market Research And Consulting. has announced the addition of “North America Home Healthcare Market Analysis And Segment Forecasts To 2022” Market Research report to their Database

The North America home healthcare market was worth USD 757 million in 2014. It is projected to grow lucratively, at around 10% CAGR during 2015 to 2022 (forecast period). This can be attributed to geriatrics population and resulting chronic ailments. Increasing need to lower the healthcare costs is another market driver.

Chronic ailments require continuous care & attendance. Hospitalization involves huge costs. Demand for hospital beds outnumbers their supply. Home healthcare is an effective & affordable solution to these problems.

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Coverage under Medicaid, Medicare, and other private insurance providers is also an advantage. Moreover, governmental initiatives (e.g. Canadian Home Care Association) will encourage home healthcare. The North America home healthcare market is categorized into products, services, and countries.

Product segments are wound care, heel protectors, mattress overlays, and seating cushions. Wound care is sub-divided into wound care products, wound closure products, wound cleaners, lotions & creams, and wound care dressings.

Heel protectors are split into cushions, gels, silicon sleeves, convoluted foam boots, and synthetic protective boots. Mattress overlays comprise low air loss mattresses, pressure relief & alternating pressure mattresses, memory foam mattresses, and premium guard water mattresses. Seating cushions include latex cushions and gel & form cushions.

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Wound care held over 64% of the total revenues in 2014. Infected wounds are a major concern, significantly furthering this product. Mattress overlays could capture major shares by 2022. Wound care and mattress overlays are jointly estimated to capture 86% shares by the same year. Diabetic ulcers, pressure ulcers, and venous stasis ulcers should contribute to this large share.

Services are split into home care, unskilled home care, durable medical equipment, and others. Home care services, with 31% revenues, were the leading segment in 2014. Durable medical equipment could occupy about 26% shares by 2022. 

On the basis of countries, the market is categorized into U.S., Mexico, and Canada. The U.S. would grab lion’s share (over 86%) by the end of the forecast period. Sophisticated healthcare, high disposable earnings, patient awareness, and geriatric populace will be the key drivers of this country. Leading players of the North America home healthcare market comprise Span America, Smith & Nephew, Invacare, and Kinetic Concepts.

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About Grand View Research

Grand View Research, Inc. is a U.S. based market research and consulting company, registered in the State of California and headquartered in San Francisco. The company provides syndicated research reports, customized research reports, and consulting services. To help clients make informed business decisions, we offer market intelligence studies ensuring relevant and fact-based research across a range of industries, from technology to chemicals, materials and healthcare.



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