A key factor driving the growth of the market is the increasing demand for home healthcare. Home healthcare refers to a wide range of healthcare services that are provided in the comfort of a home setting for an injury or illness. The various home healthcare services covered by vendors include physiotherapy, intermittent skilled nursing care, speech/language therapy, pathology services, and occupational services. With the increase in the preference for homecare ventilation, the demand for portable critical care ventilators has increased. This increasing preference for home healthcare services and consequently, homecare ventilation support, will drive the demand for global homecare ventilators market during the forecast period.
As per Technavio, the remote monitoring of patients on homecare ventilation will have a positive impact on the market and contribute to its growth significantly over the forecast period. This global homecare ventilator market 2019-2023 research report also analyzes other important trends and market drivers that will affect market growth over 2019-2023.
Global homecare ventilator market: Remote monitoring of patients on homecare ventilation
Remote monitoring is a complex intervention, which includes the electronic transmission of patient information to the healthcare system and the follow-up response by a healthcare professional. This technology allows detection of various clinical events and helps ensure safety, feasibility, effectiveness, sustainability, and flexibility to face different patient requirements. Furthermore, telemonitoring helps in controlling disease progression, which sometimes leads to accelerating hospitalization, face-to-face or homecare visits to prevent the clinical worsening of the patient’s condition, and subsequently, avoid the need for ICU admission. Remote monitoring can aid in the management of homecare ventilation, thereby driving market expansion for the next few years.
“Technological advances in ventilators, increasing prevalence of chronic respiratory ailments, and reimbursement coverage for homecare ventilation are some other major aspects that are expected to boost market growth for the next few years,” says a senior analyst at Technavio.
Global homecare ventilator market: Segmentation analysis
This market research report segments the global homecare ventilator market by type (pneumatic ventilators, electronic ventilators, and electro-pneumatic ventilators) and geographical regions (North America, Europe, Asia, and ROW).
The North American region led the market in 2018, followed by Europe, Asia, and ROW respectively. However, during the forecast period, the Asian region is expected to register the highest incremental growth due to the presence of high populations base, rapidly increasing geriatric population, increasing awareness and preference for home healthcare, and high diagnosis rate of chronic respiratory disorders.
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Five Forces Analysis
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