Quebec Expected to be the Fastest Growing Market for Home Healthcare Expanding at a CAGR of 9.2% by 2020 in the Canada: Transparency Market Research
According to a new market report published by Transparency Market Research “Canada Home Healthcare Market (By Device Types – Diagnostics and Monitoring Devices, Therapeutic Home Healthcare Devices, Mobility Assist Devices and Medical Supplies; By Services – Rehabilitation, Telehealth and Telemedicine, Respiratory Therapy, Infusion Therapy and Unskilled Home Healthcare Services) - Industry Analysis, Size, Share, Growth, Trends and Forecast, 2014 - 2020” the Canada home healthcare market was valued at USD 10,449.1 million in 2013 and is estimated to reach USD 18,939.9 million by 2020 growing at a CAGR of 8.9% from 2014 to 2020.
Browse Canada Home Healthcare Market Report: http://www.transparencymarketresearch.com/canada-home-healthcare-market.html
The Canada home healthcare market, by provinces has been categorized into the Ontario, Quebec, Alberta and Rest of Canada. Ontario market is the prime contributor to the Canada home healthcare market owing to favorable government policies to develop and promote home and community care services in this province. For instance, the Ontario government has proposed budget of around USD 750 million in 2015 to improve and strengthen patient centered home and community care services in Ontario. Additionally, the government has started initiatives such as Aging at Home Strategy, SMILE program and others to support the geriatric population by providing high quality home care services. Such initiatives establish healthy platform to develop the growth of Ontario home healthcare market hence drives the market growth. Such factors along with aging population and growing preference for home healthcare propels the growth of the home healthcare market in Ontario.
Rest of Canada accounts for the second largest share in the overall Canada home healthcare market accounting for around 3,729.2 million in 2013. Key contributors to the market growth in Rest of Canada encompasses burgeoning obese population owing to sedentary lifestyle and poor dietary habits. For example, an article published by the Canadian Medical Association in 2012 stated that the prevalence of obesity and overweight is rapidly increasing in provinces such as Nova Scotia and Labrador. This factor would in turn increase the incidence rate of chronic diseases such as diabetes and cardiovascular disorders which would stimulate the utilization of home medical devices and services in Rest of Canada.
Followed by Rest of Canada, Quebec has major contribution to the home healthcare market in Canada. This province is also expected to grow with the highest CAGR of 9.2% during the forecast period 2014 to 2020. Large population base coupled with rising incidence of chronic diseases drives the growth in home healthcare market in Quebec. Statistics provided by the Government of Canada indicated that Quebec was the second most populous province (population of 7,903,001 in 2011) in Canada. High population ratio reflects large pool of end users of home medical devices and services which would ultimately drive the uptake of these devices and services, leading to the market growth.
Browse the full Press Release of this report: http://www.transparencymarketresearch.com/pressrelease/canada-home-healthcare-market.htm
Alberta home healthcare market has low revenue contribution in Canada home healthcare market with around 12% share of the total market in 2013. This province is expected to grow with the CAGR of 8.9% during the forecast period 2014 to 2020. Market growth in Alberta is majorly attributed to the positive initiatives by the government for the development of the home health care market. For instance, Alberta Health Services, Government of Alberta’s health authority, initiated Comprehensive Home Option of Integrated Care for the Elderly (CHOICE) program that provides at-home long-term care and rehabilitation services to elderly patients with multiple health problems. Moreover, emergence of several small and large scale healthcare service providers have further boosted the growth of home health care in Alberta. All these factors are likely to support the growth of Alberta home healthcare market during the forecast period.
The Canada Home Healthcare market is segmented into the following categories:
Canada Home Healthcare Market, by Device Types
Canada Home Healthcare Market, by Device Types
- Diagnostic and Monitoring Devices
- Blood Glucose Monitors
- Blood Pressure Monitors
- Heart Rate Monitors
- Temperature Monitors
- Sleep Apnea Monitors
- Coagulation Monitors
- Pregnancy Test Kits
- Pulse Oximeters
Therapeutic Home Healthcare Devices
- Insulin Delivery Devices
- Ventilator and Continuous Positive Airway Pressure (CPAP) Devices
- Intravenous (IV) Equipment
- Dialysis Equipment
Home Mobility Assist Devices
- Cranes and Crutches
- Other Home Mobility Assist Devices (Walkers, Rollators and Mobility Scooters)
- Medical Supplies
Canada Home Healthcare Market, by Services
- Rehabilitation Services
- Telehealth and Telemedicine Services
- Infusion Therapy Services
- Respiratory Therapy Services
- Unskilled Home Healthcare Services
Canada Home Healthcare Market, by Provinces
- Rest of Canada
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