Latin America’s home healthcare devices market expected to reach USD 17,550 million by 2020
According to a research report, the Latin American home healthcare devices market had generated revenue of USD 9,796.8 million in 2013 and is estimated to reach USD 17,550 million in 2020, by growing at a CAGR of 8.7%. Home healthcare devices and services help patients become self-dependent toward their health requirements. These devices are increasingly being accepted by the patient population owing to its cost effectiveness, less number of visits to hospital and patient comfort. The Latin America home healthcare market has witnessed significant growth in the past due to factors such as expanding pool of patients being diagnosed with chronic diseases like diabetes, cardiac disorders, respiratory diseases and others. Simultaneously, the economic instability and reimbursement issues related to home healthcare services are the factors, which may limit the market growth during the forecast period from 2014 to 2020.
