TMR Analyzes Impact of Outbreak of COVID-19 on Canada Home Healthcare Market

According to Transparency Market Research (TMR), the Canada home healthcare market has a fragmented vendor landscape as numerous local and global companies are offering services in the country. These players are increasingly adopting the strategies such as acquisitions and mergers in order to acquire a substantial share in the market.

According to a report by Transparency Market Research (TMR), the Canada home healthcare market is expected to expand at CAGR of 8.9% from 2014 to 2020, to attain the value of US$18,939.9 mn by the end of 2020 from US$10,449.1 mn in the year 2013. Based on services, the Canada home healthcare market is dominated by the telehealth and telemedicine segment and expected to expand with a CAGR of 11.0% by the end of 2020. Canada home healthcare market is dominated by the province Ontario followed by Quebec in 2013, expand with CAGR of 9.2%.

Request Sample Of Report – https://www.transparencymarketresearch.com/sample/sample.php?flag=S&rep_id=4898

Increasing Number of People Suffering from Chronic Diseases to Fuel Adoption

Increasing number of the people suffering from chronic diseases such as diabetes, arthritis, and cancer is driving the growth of the home healthcare market presence in Canada. The home healthcare market is fuelled by the prevalence of diseases and growing geriatric population in Canada. Additionally, rising need for the first aid at home is augmenting adoption of the home healthcare products, which is boosting growth of the home healthcare market in Canada.

Factors such as technological advancement and cost-effectiveness of the home healthcare products are propelling its adoption and which is driving growth of the home healthcare market presence in Canada. Moreover, technological advances have increased efficiency of the products which delivers the optimum time is propelling growth of the home healthcare market in Canada.

Request the Coronavirus Impact Analysis on this Markets – https://www.transparencymarketresearch.com/sample/sample.php?flag=covid19&rep_id=4898

Based on services, the Canada home healthcare market is categorized into rehabilitation, telehealth and telemedicine, respiratory therapy, infusion therapy and unskilled home healthcare services. In 2013, unskilled home healthcare services market accounted for the largest market and is expected to dominate the market in future. Growing geriatric population coupled with increasing uptake of nonprofessional home care services in Canada helps this segment to grow consistently during the forecast period. Moreover, telehealth and telemedicine services only accounted for 2% revenue of the total home healthcare services market in 2013 but is expected to grow with the highest CAGR of around 11% during the forecast period from 2014 to 2020. Fundamental benefits availed from these services such as high cost-effectiveness, quality health care and access to health care services throughout rural and urban areas supports the growth of the market in Canada.

Buy _ Research Report Now – https://www.transparencymarketresearch.com/sample/sample.php?flag=S&rep_id=4898

The Canada home healthcare market has been studied from three perspectives: by device types, by services and by provinces. Based on device types, the market has been segmented into four categories: diagnostic and monitoring devices, therapeutic home healthcare devices, home mobility assist devices and medical supplies. Among these, diagnostics and monitoring devices are accounted for the largest market, capturing over 30% of the total Canada home medical devices market in 2013. Efforts of the Canadian government to increase awareness about hypertension, diabetes and sleep apnea management through home monitoring drives the growth of diagnostics and monitoring devices segment. Moreover, home mobility assist devices market segment recorded the lowest revenue in 2013 owing to the low cost of market constituents such as cranes and crutches, walkers and rollators and others.