All the statistical and numerical data that has been forecasted in this business report is represented with the help of graphs, charts, or tables which makes Canada Home Healthcare business report more user friendly. The research and analysis performed in this report assists clients to forecast investment in an emerging market, expansion of market share or success of a new product. It also contains analysis, estimation, and discussion of important industry trends, market size, and market share. The top notch Canada Home Healthcare market report provides a comprehensive study on production capacity, consumption, import and export for all major regions across the world.
The home healthcare market is supportive and aims to reduce the progression of the disease. Data Bridge Market Research analyses that the home healthcare market will grow at a CAGR of 8.1% during the forecast period of 2022 to 2029.
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Market Overview:
Due to rising economic growth, people are more interested in long-term health and wellness. Diabetes patients need devices to monitor their sugar level, check pregnancy, increase the demand of pregnancy strips, and monitor blood pressure resulting in increased demand for devices such as blood glucose monitors, sphygmomanometers, and others. Home healthcare management service helps manage chronic diseases such as diabetes, heart failure or chronic obstructive pulmonary disease (COPD), and cancer. Its service includes nursing service, hospice service, and medication dispensing. Lack of skilled home care service providers and coordination between service providers and patients leads to irregular treatment may create challenges for the Canada home healthcare market. There are recent developments related to the Canada home healthcare market.
Canada Home Healthcare Market Dynamics
Drivers
· Increasing Cases of Chronic Diseases Leading to Rising Usage of Home Healthcare Devices
With the rising economic growth, people are more interested in long-term health and wellness. Diabetes patients need devices to monitor their sugar level, check pregnancy, increase the demand of pregnancy strips, and monitor blood pressure, growing demand for devices such as blood glucose monitors, sphygmomanometers, and others. Home healthcare management service helps manage chronic diseases such as diabetes, heart failure or chronic obstructive pulmonary disease (COPD), and cancer. Its service includes nursing service, hospice service, and medication dispensing.
· Increasing Geriatric Population
As the geriatric population is more prone to chronic disease and injuries, the prevalence rate of their diseases and injuries in Canada leads to demand for home healthcare services to monitor and care for their health. Therefore, the geriatric population and their rising disease rates play a major role in driving the home healthcare market. A glucose meter is used to monitor sugar levels in the blood for insulin administration; insulin injections and or a pen are available. Also, the favourable reimbursement policies in these countries is expected to drive the growth of market.
Furthermore, Increase in strategic initiatives by key players, advancement in medical technology, recent advancements in home healthcare devices, rising initiatives by public and private organizations to spread awareness and growing government funding are the factors that will expand the home healthcare market.
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Restraints/Challenges
However, the home healthcare workers working in different environments face several safety and health hazards. These hazards include blood-borne pathogens and biological hazards, latex sensitivity, ergonomic hazards from patient lifting, violence, hostile animals, and unhygienic and dangerous conditions. Different hazards threaten patient safety, including violent or unstable patients, unsafe neighbourhoods, potentially dangerous pets, and family members. Patients also have concerns related to the environment, including overheated room temperatures, poor indoor air quality, and unsanitary conditions due to rodents and insects. The cross-contamination transfer of pathogens through direct and indirect contact with animals, raw food, and contaminated inanimate objects can place the frail elderly and others at risk.
This home healthcare market report provides details of new recent developments, trade regulations, import-export analysis, production analysis, value chain optimization, market share, the impact of domestic and localized market players, analyses opportunities in terms of emerging revenue pockets, changes in market regulations, strategic market growth analysis, market size, category market growths, application niches and dominance, product approvals, product launches, geographic expansions, technological innovations in the market. To gain more info on home healthcare market contact Data Bridge Market Research for an Analyst Brief, our team will help you take an informed market decision to achieve market growth.
Some of the major players operating in the Canada home healthcare market are Medtronic, Koninklijke Philips N.V., ResMed, Abbott, F. Hoffmann-La Roche Ltd, EXTENDICARE, Bayshore HealthCare, Fresenius Medical Care AG & Co. KGaA, 3M, General Electric Company, Saint Elizabeth Healthcare, Omron Healthcare, Inc. (A Subsidiary of OMRON Corporation), AlayaCare, Siemens Healthcare GmbH, Boston Scientific Corporation, Cardinal Health, Fisher & Paykel Healthcare Limited, Coloplast Canada (A Subsidiary of Coloplast Group), Invacare Corporation, Air Liquide Medical Systems (A subsidiary of Air Liquide), among others.
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