The European home healthcare market is suggested to have reached a value of around $40.6 billion by the end of 2012. Fuelled by the rising number of elderly people and technological advancements, the European home healthcare market has experienced significant growth over the past decade.
Home healthcare services are largely driven by patients in the age group of 65 and above, who contribute to over 70-75% of the revenue generated. In the recent years, the inclination of patients towards home healthcare over hospital settings is on the rise as the former gains over the latter in terms of convenience as well as being economical.
A pivotal factor in the growth of this market has been the increasing healthcare cost, which have shifted the focus of healthcare from hospitals to home. Initiatives taken by governments to support home healthcare further propels the market.
However, limited insurance coverage for home healthcare devices and risk to the safety of patients and home healthcare workers are the major deterrents curbing the growth of the European home healthcare market.
The market is witnessing a sharp increase in demand for technology-based healthcare products. The trend is likely to continue in future, with continuous increase in demand for remote health services, home networking services, and high-tech medical services.
Information Technology is playing a major role in improving home health care services, especially in the developed nations. The implementation of wireless technology across the homecare sector is increasing significantly.
Germany represents the largest region within the European home healthcare market, followed by France and the UK. The Russian and RoE market is expected to witness a healthy growth over the next five years.
Key players currently dominating the European home healthcare industry include Philips Healthcare (The Netherlands), Fresenious SE & Co KGaA (Germany), GE Healthcare (U.K.), B. Braun (Germany), Baxter International (U.S.), Roche (Switzerland), Air Liquide (France), Bupa Home Healthcare, Ltd (U.K.), Healthcare at Home (U.K.), and Linde Group (Germany).
For more information on the European home healthcare market, see the latest research: Home Healthcare Market Research
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