Home healthcare market of Latin America may reach USD 17.5 billion by 2020
According to a market research report published by Transparency Market Research, the Latin America home healthcare market is estimated to grow at a CAGR of 8.70% over 2014-2020. The market is expected to reach USD 17.5 billion by the end of 2020 from USD 9.8 billion in 2013. The key factors driving the growth of the market include a growing number of patients that are suffering from chronic illnesses such as high blood pressure problems, diabetes, and COPD. This driver is partly based on the growing geriatric population in Latin America and partly on the changing lifestyles. The modern home healthcare services are highly suited for patients suffering from respiratory and cardiovascular diseases. These patients, along with the ones suffering from other major chronic illnesses, require constant monitoring for immediate medical intervention, a factor which has greatly boosted the Latin America home healthcare market. The market for CPAP devices and ventilators is expected to provide the widest range of opportunities. This market is expanding at a CAGR of 11.4% in the given forecast period. At present, Brazil is leading the market in the region followed by Mexico, which captured 35% and 25% of the market, respectively.