South and Central America Home Healthcare Market
Published On: Jul 2021
Published On: Jul 2021
The cancer segment by indication is estimated to lead the market growth during the forecast period.
According to a new market research study of “South and Central America Home Healthcare Market Forecast to 2028 - COVID-19 Impact and Regional Analysis by Product Type, Indication, Service and Country.” The South and Central America home healthcare market is expected to reach US$ 29,093.70 million by 2028 from US$ 17,046.13 million in 2021; it is estimated to grow with a CAGR of 8.9% from 2021 to 2028. The report highlights trends prevailing in the South and Central America home healthcare market and the factors driving market along with those that act as hindrances.
The South and Central America home healthcare market by indication, is segmented into cancer, respiratory diseases, mobility disorders, cardiovascular disorders, pregnancy, wound care, diabetes, and other indications. The cancer segment held the largest share of the market in 2020. However, the mobility disorders segment is anticipated to register the highest CAGR in the market during the forecast period.
The scope of home healthcare includes a wide range of healthcare services for managing illness at home. Developments in the medical device industry are also contributing to the home healthcare market growth. As per the World Health Organization (WHO), over 50% of the global population is estimated to be suffering from at least one chronic disease. Growing support from the government to encourage establishment of home care settings by encouraging the launch of product required for home care settings are the prominent factors supporting the growth of the home healthcare market in South and Central AmericaCountries such as Brazil and Argentina have been supporting hospital-at-home programsthat confer flexibility to hospitals to provide their patients with hospital-level care in their homes. Moreover, various strategies adopted by the home care setting industry players, including product launches, collaborations, and innovations, are accelerating the market growth.
The COVID?19 pandemic is challenging the already overburdened and underfunded public healthcare systems of South and Central America. State-run hospitals and clinics are already overstressed by the treatment of vector?borne diseases and community?acquired infections as well as by the high rates of noncommunicable diseases (NCDs). As per the Pan American Health Organization (PAHO), the NCD prevention and treatment efforts have been critically affected since the onset of the COVID-19 in the region. Moreover, lack of investments in public healthcare systems are adding to the difficulties of the healthcare systems in South and Central American countries. Thus, the factors mentioned above are negatively impacting the growth of the home healthcare market in the region.
The market growth is attributed to increasing prevalence of cancer and other chronic diseases, growing geriatric population in the region, and increasing preference for home healthcare settings. However, limited insurance coverage and patient safety concerns are limit the growth of the South and Central America home healthcare market growth to a certain extent.
Fresenius SE & Co. KGaA, General Electric Company, LINDE, F. HOFFMANN-LA ROCHE LTD, and A&D Company, Limited are among the leading companies operating in the South and Central America home healthcare market.
The report segments in South and Central America Home Healthcare Market as follows:
By Product Type
By Indication
By Service
By Country
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