According to a new market research report the North American Home Healthcare Market is poised to grow at a CAGR of 7.5% to reach $130.4 billion by 2017.

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The home healthcare market is witnessing a surge as it offers high cost advantage to the patients and reduces their hospital expenditure. The move from treatment to proactive monitoring is also opening up new opportunities for the home healthcare market. The North America Home Healthcare Market was valued at $90.9 billion in 2012; it is poised to grow at a CAGR of 7.5% to reach $130.4 billion by 2017.
The market is broadly segmented on the basis of products, services, and telehealth. Rising incidences of chronic diseases and increasing healthcare cost, which is creating a need for more affordable treatment options such as home care, are fueling the growth of this market. However, cut in Medicare payments to home health agencies and risk to the safety of home healthcare workers are factors limiting the growth of this market.

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The U.S. dominated the North American home healthcare market in 2012 and is expected to maintain its position in the coming five years owing to the rising aging population, increasing chronic diseases, technological developments for various home use applications (home healthcare therapeutic equipment, home healthcare testing monitoring devices and mobility assist & other devices), positive response to home-based devices, increasing awareness, and insurance coverage in the country. Canada is expected to grow steadily due to increasing awareness regarding home-based devices and increasing prevalence of lifestyle diseases such as diabetes, obesity, and cardiovascular diseases and various initiatives taken by government.

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The prominent home healthcare service provider companies are Apria Healthcare Group (U.S.), Gentiva Health Service Inc. (U.S.) and Amdisys, Inc. (U.S.) while key home healthcare product manufacturing companies are Alere, Inc. (U.S.), Baxter International, Inc. (U.S.), B. Braun Melsungen AG (Germany), Fresenius Se & Co KGAa (Germany), GE Healthcare (U.K), Philips Healthcare (The Netherlands), and Roche Holdings (Switzerland).

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