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Canada Home Healthcare Market Benefits from Need for Reliable Healthcare for Geriatric Population

Blog Description

Home healthcare refers to medical care that is provided in a home environment. The Canada home healthcare market comprises medical devices and services for assisting patients with chronic diseases. The market was valued at US$10.4 bn in 2013. Expanding at a CAGR of 8.9% from 2014 to 2020, the Canada home healthcare market will reach US$18.9 bn by 2020.

Financial, Administrative Support from Public Agencies Helps Improvement of Canada’s Home Healthcare Services

In Canada, the increasing prevalence of lifestyle diseases such as obesity and cardiac conditions, which require long-term medical assistance, is a major factor driving the home healthcare market. The presence of other related chronic diseases such as diabetes, respiratory diseases, and hypertension in a considerably large population pool is also bolstering growth of the home healthcare market in Canada. This is supported by the records of Canada’s Public Health Agency, according to which, three individuals out of every five that are 20 years and above have a chronic health condition such as diabetes, mental illness, cancer, and cardiovascular diseases.

Browse the full Report of Canada Home Healthcare Markethttp://www.mrrse.com/canada-home-healthcare-market

In Canada, changing demographics, wherein a sizeable chunk of the population is heading towards old age, will support the growth of this market. As per statistics from the last census in Canada, in 2011, almost 5 million people were in the 60-65 years age group and the figure is expected to more than double to reach 10.4 million in the next 25 years. Thus, the considerably large elderly population, which is susceptible to injury and chronic health conditions, will require reliable medical care in the long run. For these needs, home healthcare will rise in demand both for economic and comfort reasons. With advancement in technology, the introduction of portable medical devices that are suitable for non-hospital environments and can be handled by patients or caregivers at home is also boosting the growth of the home healthcare market in Canada.

Other than this, accredited bodies such as the Canadian Commission on Accreditation of Rehabilitation Facilities are involved in improving elderly care and rehabilitation services in home settings. They offer accreditation programs for businesses that are involved in home healthcare, with the help of which the agency receives financial and administrative assistance for overhauling services. The government of Canada also spends large sums on home health services, as it reduces the burden on public healthcare services for patients that can be served in non-hospital environments. The predominantly nuclear family structure of Canadian society also necessitates home healthcare, especially for elderly people who live alone or for individuals that are incapacitated due to injury or illness.

Browse the full Press Release of Canada Home Healthcare Markethttp://www.mrrse.com/canada-home-healthcare-industry

Ontario Dominated Canada Home Healthcare Market in 2013

In Canada, Ontario, Alberta, Quebec, and Rest of Canada are the major regional segments of the home healthcare market. In 2013, Ontario was the dominant region for home healthcare, accounting for the largest share in the overall market due to the region’s consistently rising geriatric population and governmental policies that encourage healthcare in home settings to lessen the burden on state-run health facilities. However, in the coming years, the Quebec regional market for home healthcare will register the fastest growth rate in the home healthcare market due to the increasing incidence of chronic diseases. The region will register a CAGR of 9.2% from 2014 to 2020.