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South & Central America Home Healthcare Market Forecast to 2028 - COVID-19 Impact and Regional Analysis By Product Type, Indication, and Service

South & Central America Home Healthcare Market Forecast to 2028 - COVID-19 Impact and Regional Analysis By Product Type, Indication, and Service

  • July 2021
  • 127 pages
  • ID: 6134769
  • Format: PDF
  • The Insight Partners

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The South and Central America home healthcare market is expected to reach US$ 29,093.70 million by 2028 from US$ 17,046.13 million in 2021; it is estimated to grow at a CAGR of 8.9% from 2021 to 2028. The market growth is attributed to increasing prevalence of cancer and other chronic diseases, growing geriatric population in the region, and increasing preference for home healthcare settings. However, limited insurance coverage and patient safety concerns are limit the growth of the South and Central America home healthcare market growth to a certain extent.
The scope of home healthcare includes a wide range of healthcare services for managing illness at home.Developments in the medical device industry are also contributing to the home healthcare market growth.

As per the World Health Organization (WHO), over 50% of the global population is estimated to be suffering from at least one chronic disease.Growing support from the government to encourage establishment of home care settings by encouraging the launch of product required for home care settings are the prominent factors supporting the growth of the home healthcare market in South and Central AmericaCountries such as Brazil and Argentina have been supporting hospital-at-home programsthat confer flexibility to hospitals to provide their patients with hospital-level care in their homes.

Moreover, various strategies adopted by the home care setting industry players, including product launches, collaborations, and innovations, are accelerating the market growth.
The COVID?19 pandemic is challenging the already overburdened and underfunded public healthcare systems of South and Central America.State-run hospitals and clinics are already overstressed by the treatment of vector?borne diseases and community?acquired infections as well as by the high rates of noncommunicable diseases (NCDs).

As per the Pan American Health Organization (PAHO), the NCD prevention and treatment efforts have been critically affected since the onset of the COVID-19 in the region.Moreover, lack of investments in public healthcare systems are adding to the difficulties of the healthcare systems in South and Central American countries.

Thus, the factors mentioned above are negatively impacting the growth of the home healthcare market in the region.
The South and Central America home healthcare market, by product type, is segmented into therapeutic, diagnostic, and mobility assist.The therapeutic segment held the largest share of the market in 2020.

Further, the diagnostic segment is anticipated to register the highest CAGR in the market during the forecast period.
The South and Central America home healthcare market, by indication, is segmented into cancer, respiratory diseases, mobility disorders, cardiovascular disorders, pregnancy, wound care, diabetes, and other indications.The cancer segment held the largest share of the market in 2020.

However, the mobility disorders segment is anticipated to register the highest CAGR in the market during the forecast period.
The South and Central America home healthcare market, by service, is segmented into skilled nursing, rehabilitation therapy, hospice and palliative care, unskilled care, respiratory therapy, infusion therapy, and pregnancy care.The skilled nursing segment held the largest share of the market in 2020.

On the other hand, the hospice and palliative care segment is anticipated to register the highest CAGR in the market during the forecast period.
A few of the primary and secondary sources associated with this report on the South and Central America home healthcare market are the American Society for Gastrointestinal Endoscopy (ASGE); InterAmerican Heart Foundation (FIC); and Federation of Hospitals, Clinics and Laboratories of the State of Sao Paulo (FEHOESP).

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