Widespread presence of chronic ailments to push Latin American home healthcare market to USD 17.5 billion by 2020
According to a report published by Transparency Market Research, the Latin American home healthcare market would expand from USD 9.8 billion in 2013 to USD 17.5 billion in 2020 with a CAGR of 8.7%. The driving factors backing the growth of the market are an increasing patient pool suffering from chronic diseases such as diabetes, blood pressure issues, and chronic obstructive pulmonary disease and a rising elderly population. Chronic diseases create a demand for regular patient monitoring and health interventions. Among the segments of devices and services, devices are estimated to contribute to market growth rapidly over the forecasted period, with estimated growth at a CAGR of 11.4%. CPAP devices and ventilators are the major contributors within the segment. Based on geographies, Mexico is currently dominating the Latin American market with a share of 25% in 2013. It is estimated to continue with its position in the market over the forecasted period. The key players operating in the Latin America are Johnson & Johnson, Invacare, Cardinal Health, Gentiva Health Services, ResMed, Teleflex, GE Healthcare, Praxair Technologies, Hoffmanan-La Roche, Bayer Healthcare, Medtronic and Philips Healthcare.