Latin America Home Healthcare Market Segmentation Detailed Study with Forecast to 2020
The Latin America home health care market is led by various small and large players. Prominent players operating in the Latin America home health care market include: Phillips Healthcare, Abbott Laboratories, Omron Healthcare, Inc., Medtronic, Inc., GE Healthcare, Praxair Technologies, Inc., F. Hoffmann-La Roche Ltd, Teleflex Corporation, ResMed, Inc., Cardinal Health, Invacare Corporation, Gentiva Health Services, Inc., Johnson & Johnson, and Bayer Healthcare, states Transparency Market Research (TMR)
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According to the report Latin America Home Health Care Market is estimated to reach US$17.5 bn in 2020. On the basis of device type, the market for ventilators as well as CPP devices is expected to witness the fastest growth. On the basis of services, the Latin America home health care market is segmented into telehealth and telemedicine services, intuition therapy services, respiratory therapy services, rehabilitation services, and unskilled home health care services. Of these the telehealth and telemedicine services segment is growing had the fastest pace.
Brazil to be Key Market for Home Healthcare
From a regional perspective, the Latin America home healthcare market is segmented into Mexico, Argentina, Brazil, Colombia, and others. Of these the growing awareness and increasing expenditure towards healthcare will result in Brazil emerging as the leading market in Latin America for home health care. The increasing incidences of chronic diseases in Brazil will also be reason for the growth of this market in the country. Mexico is anticipated to expand at the fastest space within the Latin America home health care market increasing incidences of diabetes and CVDs. In addition to this, the rising investments done by the government of Mexico towards healthcare will also push the growth of the home healthcare market in Mexico. Introduction of new technologies as well as new product launches are expected to drive the home healthcare market in Colombia and Argentina.
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Increasing Pool of Geriatric Population and Need to Reduce Cost to Drive Demand for Home Health Care
According to the lead author of this report, the home healthcare market in Latin America has been shifting to a more precision based model of personal care. Home Health Care is the use of medical devices and various community based services in order to support those patients who are suffering from chronic diseases. In Latin America, home-based medical devices and services are playing an important role in managing the patients suffering from various conditions such as chronic obstructive pulmonary disease, diabetes, and blood pressure. In Latin America as with other regions in the world the growing pool of patients suffering from blood pressure, cardiovascular diseases, diabetes, respiratory diseases have been increasing with each passing year. This in turn, is expected to bode well for the home-based medical devices and services, as all of the aforementioned diseases require continuous monitoring which can incur high costs. As Latin America is a cost sensitive region, patients are opting for routinely monitoring and measuring parameters in a cost effective manner through home healthcare.
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Transparency Market Research (TMR) is a market intelligence company, providing global business information reports and services. Our exclusive blend of quantitative forecasting and trends analysis provides forward-looking insight for thousands of decision makers. TMR’s experienced team of analysts, researchers, and consultants, use proprietary data sources and various tools and techniques to gather, and analyze information. Our business offerings represent the latest and the most reliable information indispensable for businesses to sustain a competitive edge.
Each TMR syndicated research report covers a different sector – such as pharmaceuticals, chemicals, energy, food & beverages, semiconductors, med-devices, consumer goods and technology. These reports provide in-depth analysis and deep segmentation to possible micro levels. With wider scope and stratified research methodology, TMR’s syndicated reports strive to provide clients to serve their overall research requirement.
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