Home Healthcare Market Regional Analysis:
North American Market Insights
North America industry is likely to dominate majority revenue share of 43% by 2035. The landscape's substantial growth in the region is expected credited to the surge in chronic illness, and neurology devices, coupled with the geriatric population in this region. According to a report by the Centers for Disease Control and Prevention 2020, more than 51.8% of US adults suffer from 1 chronic condition, and more than 27% are predicted to have multiple chronic conditions.
An increase in healthcare spending in the United States would act as a key growth driver for this market. According to the American Medical Association 2024, U.S. health spending increased by 4% in 2022.
More than 10% of Canadians suffer from neurological disorders, according to a report by the National Institutes of Health 2020, based on Canada’s National Population Health Study about neurological conditions.
APAC Market Insights
The Asia Pacific region will also encounter a huge influence on the home healthcare market demand during the forecast period and will account for the second position attributed to the increasing aging population. According to the Census 2022, the older population in APAC is expected to be about 20% higher than the total population of the U.S. population.
The growing demand for better medical devices in China is slated to increase. According to a report, China’s medical devices industry is expected to set a share of about USD 36 billion in 2024.
In Japan there is an increase in healthcare expenditures which will increase the market size expansion of the home healthcare sector. According to the Organization for Economic Cooperation and Development (OECD) 2021, there was an increase of about 5.8% of Japan’s GDP is used for health expenditure.
