Market Introduction
Home healthcare market includes a wide range of healthcare services for illness in homecare settings. The goal of home healthcare is to treat injury and improve health outcomes for the patient. These services are more convenient and less expensive and are efficient for chronic diseases, elderly population, nutrition therapy and serious illness of the patient.
Market Overview and Dynamics
The South and Central America home healthcare market is expected to reach US$ 29,093.70 million by 2028 from US$ 17,046.13 million in 2021; it is estimated to grow at a CAGR of 8.9% from 2021 to 2028. The market growth is attributed to increasing prevalence of cancer and other chronic diseases, growing geriatric population in the region, and increasing preference for home healthcare settings. However, limited insurance coverage and patient safety concerns are limit the growth of the South and Central America home healthcare market growth to a certain extent.
The scope of home healthcare includes a wide range of healthcare services for managing illness at home. Developments in the medical device industry are also contributing to the home healthcare market growth. As per the World Health Organization (WHO), over 50% of the global population is estimated to be suffering from at least one chronic disease. Growing support from the government to encourage establishment of home care settings by encouraging the launch of product required for home care settings are the prominent factors supporting the growth of the home healthcare market in South and Central America countries such as Brazil and Argentina have been supporting hospital-at-home programs that confer flexibility to hospitals to provide their patients with hospital-level care in their homes. Moreover, various strategies adopted by the home care setting industry players, including product launches, collaborations, and innovations, are accelerating the market growth.
The COVID?19 pandemic is challenging the already overburdened and underfunded public healthcare systems of South and Central America. State-run hospitals and clinics are already overstressed by the treatment of vector?borne diseases and community?acquired infections as well as by the high rates of noncommunicable diseases (NCDs). As per the Pan American Health Organization (PAHO), the NCD prevention and treatment efforts have been critically affected since the onset of the COVID-19 in the region. Moreover, lack of investments in public healthcare systems are adding to the difficulties of the healthcare systems in South and Central American countries. Thus, the factors mentioned above are negatively impacting the growth of the home healthcare market in the region.
Key Market Segments
The South and Central America home healthcare market, by product type, is segmented into therapeutic, diagnostic, and mobility assist. The therapeutic segment held the largest share of the market in 2020. Further, the diagnostic segment is anticipated to register the highest CAGR in the market during the forecast period.
The South and Central America home healthcare market, by indication, is segmented into cancer, respiratory diseases, mobility disorders, cardiovascular disorders, pregnancy, wound care, diabetes, and other indications. The cancer segment held the largest share of the market in 2020. However, the mobility disorders segment is anticipated to register the highest CAGR in the market during the forecast period.
The South and Central America home healthcare market, by service, is segmented into skilled nursing, rehabilitation therapy, hospice and palliative care, unskilled care, respiratory therapy, infusion therapy, and pregnancy care. The skilled nursing segment held the largest share of the market in 2020. On the other hand, the hospice and palliative care segment is anticipated to register the highest CAGR in the market during the forecast period.
Major Sources and Companies Listed
A few of the primary and secondary sources associated with this report on the South and Central America home healthcare market are the American Society for Gastrointestinal Endoscopy (ASGE), InterAmerican Heart Foundation (FIC), and Federation of Hospitals, Clinics and Laboratories of the State of Sao Paulo (FEHOESP).
Reasons to buy the report
SOUTH AND CENTRAL AMERICA HOME HEALTHCARE MARKET SEGMENTATION
By Product Type
By Indication
By Service
By Country
Company Profiles
| Report Attribute | Details |
|---|---|
| Market size in 2021 | US$ 17,046.13 Million |
| Market Size by 2028 | US$ 29,093.70 Million |
| CAGR (2021 - 2028) | 8.9% |
| Historical Data | 2019-2020 |
| Forecast period | 2022-2028 |
| Segments Covered |
By Product Type
|
| Regions and Countries Covered |
South and Central America
|
| Market leaders and key company profiles |
|
The South and Central America Home Healthcare Market is valued at US$ 17,046.13 Million in 2021, it is projected to reach US$ 29,093.70 Million by 2028.
As per our report South and Central America Home Healthcare Market, the market size is valued at US$ 17,046.13 Million in 2021, projecting it to reach US$ 29,093.70 Million by 2028. This translates to a CAGR of approximately 8.9% during the forecast period.
The South and Central America Home Healthcare Market report typically cover these key segments-
The historic period, base year, and forecast period can vary slightly depending on the specific market research report. However, for the South and Central America Home Healthcare Market report:
The South and Central America Home Healthcare Market is populated by several key players, each contributing to its growth and innovation. Some of the major players include:
The South and Central America Home Healthcare Market report is valuable for diverse stakeholders, including:
Essentially, anyone involved in or considering involvement in the South and Central America Home Healthcare Market value chain can benefit from the information contained in a comprehensive market report.
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