Report Description of the Canada Home Healthcare Market
Research Scope and Assumption
- The report provides the market value for the base year 2020 and a yearly forecast up to 2028 in terms of revenue (USD billion)
- The key industry dynamics, regulatory scenario, reimbursement scenario, major market trends, and drug markets are evaluated to understand their impacts on the demand for the forecast period. The growth rates were estimated using correlation, regression, and time-series analysis
- We have used the combination of top-down and bottom-up approach for market sizing, analyzing key regional markets, dynamics, and trends for various solutions, services, and end uses
- All market estimates and forecasts have been validated through primary interviews with the Key Industry Players (KIPs) and secondary analysis
- Inflation has not been accounted for in order to estimate and forecast the market
- Numbers may not add up due to rounding off
- To analyze and forecast the market size of Canada Home Healthcare Drugs market
- To classify and forecast Canada Home Healthcare Market market based on application, drugs, project type, and application.
- To identify drivers and challenges for Canada Home Healthcare market
- To examine competitive developments such as mergers and acquisitions, agreements, collaborations and partnerships, etc., in Canada Home Healthcare market
- To conduct pricing analysis for Canada Home Healthcare Drugs market
- To identify and analyze the profile of leading players operating in Canada Home Healthcare market
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- Strategically analyze micro-markets with respect to individual growth trends, future prospects, and their contribution to the market
- Analyze competitive developments such as expansions, investments, mergers & acquisitions, new product developments, and research & developments in the Atopic Dermatitis market
- Analyze the opportunities in the market for stakeholders and draw a competitive landscape for market leaders
- To strategically profile key players and comprehensively analyze their market shares and core competencies
- We have technically sound team which do a deep dive research and also provide strategy-based consulting analysis
Canada Home Healthcare Market Executive Summary
Canada home healthcare market represents a wide range of home medical devices and services to support patients with chronic disease conditions. The risk and prevalence of chronic and lifestyle related diseases are constantly increasing in Canada which would drive the acceptance of home medical devices and services, consequently leading to the growth of the market.
Market Size and Key Findings
The Canada Home Healthcare market size is at around USD 20.6 billion in 2021 and is projected to reach USD xx billion in 2028, exhibiting a CAGR of 8.89% during the forecast period.
The Home Care Providers industry in Canada is a growing industry, with a multitude of diverse companies offering services to growing healthcare markets. Industry providers cater largely to the elderly population, which is growing at a rate exceeding the national population growth rate in Canada, as well as to individuals suffering from chronic illnesses and disabilities.
Market Growth Drivers Analysis
The home health care market offers lucrative business opportunities in Canada due to increased acceptance of home health care, technological advancements, and cost-effective alternatives compared to other modalities (i.e. hospital visits). Factors such as aging population and increasing number of people diagnosed with chronic diseases such as diabetes, cardiac disorders, and respiratory diseasesand government spending on home care services, and cost effectiveness are driving the growth of the home health care market in Canada.Other factors fueling the growth of the home health care rising
High cost of professional health care services and home medical devices is likely to restrain market growth, furthermore diverse geography and location of the service delivery also restrain the market growth.
COVID-19 impact on “Canada Home Healthcare Market”
Due to Covid 19 pandemic consumer demand has also subsequently reduced as individuals are now more keen on eliminating non-essential expenses from their respective budgets as the general economic status of most individuals have been severely affected by this outbreak. These aforementioned elements are expected to burden the revenue trajectory of the Canada Home Healthcare market over the forecast timeline. However, as respective governing authorities begin to lift these enforced lockdowns, the Canada Home Healthcare market is expected to recover accordingly.
Some of the key players operating in the Canada home healthcare market are Johnson & Johnson are Omron Healthcare, 3M Healthcare,GM Healthcare, We maintain health services, Canadian Home Care Association,Home Care Ontario and other
Products in Pipeline
Blockchain will revolutionize the healthcare industry. Home health care is mainly dependent on huge data from various resources. The data requires extensive analysis to gain crucial insights for the apt treatment required. Below are a few advantages of blockchain in healthcare:
It can easily help verify and manage patient’s medical data.Blockchain can be used for online payments and for the elimination of security issues.The integration of blockchain and healthcare can also be used in clinical research and drug development. It can be used to maintain data of trial patients, manage and keep a track of documentation, and reduce falsification of results.
Notable Recent Deals
AlayaCare, a global home care software company,announced it has acquired Delta Health Technologies, a provider of specialized home health solutions. The acquisition of Delta Health Technologies extends AlayaCare’s position as a leading provider of software-as-a-service (SaaS) technology in home healtcare market.
Healthcare Policies and Regulatory Landscape
Policy changes and Reimbursement scenario of Canada Home Healthcare
Home care services are not publicly insured through the Canada Health Act in the same way as hospital and physician services. In Canada, most home and community care services are delivered by provincial, territorial and some municipal governments. The federal government provides funding support through transfer payments for health and social services. The federal government also delivers home care services to First Nations on-reserve and Inuit in designated communities, members of the armed forces and the RCMP, federal inmates, and eligible veterans. Health Canada is engaged in research and policy analysis on home and community care across Canada.