Telehealth To Drive Global Home Healthcare Market To $355.3B By 2020
Posted on Friday, June 26, 2015 2:50 PM
According to a report from Grand View Research, the global healthcare market is expected to reach $355.3 billion by 2020, growing at an estimated CAGR of 7.8% from 2014 to 2020.
Grandview Research defines home healthcare as equipment and services that are designed to be used in the home or in non-medical establishments by non-professional caregivers, patients and family.
Researchers found home healthcare diagnostics to dominate the home healthcare market, having a 41.1% of the market share in 2013, due to the high levels of individuals diagnosed with cardiovascular diseases and diabetes.
North America was the largest regional market, bringing 40 percent of the total revenue due to it having a sophisticated healthcare and reimbursement infrastructure, relatively high patient awareness levels, and high healthcare expenditure.
The Asia Pacific home healthcare market is expected to grow the fastest, at a CAGR of 9.7%, from 2014 to 2020. Reasons for this growth can be attributed to its improving healthcare infrastructure in some emerging markets and because of the Japan's large geriatric population.
to read more.