ALBANY, N.Y.--(BUSINESS WIRE)--Transparency Market Research, in its new market report, titled, “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”, estimates the economic footprint of the home healthcare market in Canada, highlighting the importance of various home medical devices and home healthcare services in the region.
The report suggests that the market is anticipated to reach US$18,939.9 million by 2020 from a value of US$10,449.1 million in 2013. The Canada home healthcare market is expected to grow at an 8.9% CAGR in the forecast period 2014-2020.
Growth of the Canada home healthcare market is supported by market drivers such as rising frequency of chronic diseases and the introduction of advanced technology and cost-effective devices and services in the market.
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The report categorizes the market on the basis of three criteria, namely device types, services, and regions.
By device type, blood glucose monitor devices dominated the overall market with a 34% share, due to increasing incidence of diabetes. The therapeutic home healthcare devices segment is expected to follow and rise at an 11.5% CAGR until 2020.
By services, the home health care market is divided into infusion therapy services, telehealth and telemedicine services, rehabilitation services, respiratory therapy services, and unskilled home health care services. Rehabilitation services dominated the overall market with a 36% share in 2013, followed by a 10% share for respiratory therapy services.
Ontario and Rest of Canada collectively accounted for nearly 70% of the total Canada home healthcare market in 2013.
Transparency Market Research (TMR) is a U.S. based market intelligence company driven by high-pedigree consultants and researchers. TMR leverages its Syndicated Research, Custom Research, and Market Consulting expertise to help businesses make accurate decisions. TMR’s exclusive blend of quantitative forecasting and trends analysis draws on proprietary data sources and techniques, while their data repository is continuously updated to reflect the latest trends.