Report: Home healthcare market to reach $130.4B by 2017
DALLAS – The North American home healthcare market is poised to reach $130.4 billion by 2017, expanding at a compound annual growth rate (CAGR) of 7.5%, according to a new study from Markets and Markets, a global research and consulting firm. In 2012, the North American home healthcare market was valued at $90 billion. Higher incidences of chronic diseases, in conjunction with increasing healthcare costs, are expected to fuel demand for more affordable treatment options at home. Cuts in Medicare payments to home health companies figure to limit the growth, the report noted. Authors of the report anticipate that the U.S. will maintain its eminent position in the North American market, a prediction supported by the country’s aging population, increasing incidence of chronic diseases, and various technological advancements for home use applications, among other factors.