Asia Pacific is the fastest growing region for diabetes drug market owing to growing the prevalence of diabetes in India and China increasing the demand of the glucose monitoring devices in this region. Approximately, 114 million in China and 72 million in India people suffer from diabetes. Furthermore, around 95% of people suffer from type 2 diabetes. Increasing prevalence of heart disease such as cholesterol, blood pressure is boosting growth of the market. Furthermore, high prevalence of respiratory diseases is growing demand of respiratory home devices market.
The global home healthcare devices market is segmented by product, service, software, and type.
On the basis of the product, the home healthcare devices market is segmented into testing, screening, and monitoring, therapeutic, mobility care. Monitoring is expected to be leading segment. This is attributed to increasing prevalence of chronic diseases such as diabetes and heart-related diseases across the globe. Thus, increasing awareness about health across the globe is increasing demand of home healthcare devices.
Based on the service, the home healthcare devices market is segmented into unskilled care, rehabilitation, infusion therapy, pregnancy care, respiratory therapy, skilled nursing and hospice, and palliative care. The infusion therapy services segment is expected to grow during forecast period. This can be attributed to technological advancements and cost-effectiveness.
On the basis of software, the home healthcare devices market is segmented into agency software, clinical management systems, and hospice solutions.
Based on the type, the market is segmented into home telehealth monitoring devices, home telehealth services, and telehealth software solutions.
The global home healthcare devices market regionally is segmented into North America, Europe, Asia-Pacific and Latin America, the Middles East & Africa.
North America is likely to hold the largest share in the global home healthcare devices market during the forecast period. This is attributed to increasing incidences of cardiovascular diseases, which in turn increasing demand of home healthcare devices.
Europe is expected to be the second leading region in the global home healthcare devices market. Advance health care sector and increasing awareness about the health in region is supporting the demand of the market in future.
Asia Pacific (APAC) is expected to be the fastest growing region during the forecast period 2019–2026. Increasing prevalence of chronic diseases is growing demand of home healthcare devices market. Furthermore, changing lifestyle and eating habits causing different chronic diseases
The Middle East and African market exhibit potential growth due to increasing healthcare spending and improved infrastructure for healthcare. According to the World Bank report on health systems, in 2017, The Middle East and Africa were heavily engaged in healthcare.
Key players in home healthcare devices market include Kindred Healthcare (US), Philips Healthcare (Netherlands), Almost Family Inc. (US), Abbott Laboratories (US), Linde Group (Germany), LHC Group (US), A&D (Japan), Amedisys (US), Omron (Japan), McKesson (US), BAYADA Home Health Care (US), Kinnser Software, Inc. Fresenius (Germany), (US), and Roche (Switzerland).