Home Healthcare Market Anticipated Growth Projected to Hit Nearly $350 Billion by 2020

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Home Healthcare Market Anticipated Growth Projected to Hit Nearly $350 Billion by 2020The healthcare industry in the United States continues to experience strong growth, and the home health care sector is also booming. According to some estimates, the home health care sector could reach $350 billion in revenue by 2020. This level of growth is due to numerous factors, not the least of which is a desire by more people to remain home as opposed to spending time in a nursing home or hospital environment.

More than simply providing care and support for patients at home, this growth is also due to technology that’s making it more feasible to forego nursing home care in lieu of home care support. Monitoring devices and communication setups allow doctors and nurses to keep tabs on their patients at home, saving money and providing a more comfortable environment for them.

As more technology is developed to improve quality of care and life for elderly and disabled clients at home, the growth of the home care sector will likely continue its upward growth.

According to Market Watch, in its blog, Home Healthcare Market By Product Analysis is Projected to be Around US$ 349 Billion By 2020:

“Testing screening and monitoring is further segmented into blood pressure monitors, pedometers, blood glucose monitors, hearing aids, pulse oximeters, temperature monitors, peak flow meters, EEG devices, heart rate monitors, ECG/EKG devices, fetal monitoring devices, drug and alcohol test kits, HIV test kits, home hemoglobin A1c test kits, sleep apnea monitors, colon cancer test kits, coagulation monitors, ovulation and pregnancy test kits, cholesterol monitoring devices and holter and event monitors. Therapeutic is classified into oxygen delivery systems, inhalers, nebulizers, insulin delivery devices, ventilators, dialysis equipment, sleep apnea therapeutic devices, IV equipment, wound care products and others. Mobility is classified into canes, wheelchairs, crutches, walkers and rollators and mobility scooters. The service segmentation covers rehabilitation, hospice and palliative care, infusion therapy, skilled nursing, unskilled care, pregnancy care and respiratory therapy. Under software segmentation it covers agency software, hospice solutions and clinical management systems. Based on type segmentation it covers home telehealth monitoring devices, [t]elehealth software solutions and home telehealth services.”

There are more devices to monitor health issues, but there are also increasing options for basic support, including lifts and on-demand services, such as rides to doctor appointments, the store, and more. All of these innovations will likely increase the growth of home health care and the amount of revenue the industry will generate. This will also boost employment for a wide range of people and positions across the country.

Valerie VanBooven, RN BSN, Editor in Chief of HomeCareDaily.com

Editor in Chief of HomeCareDaily.com at LTC Expert Publications
Valerie is a Registered Nurse, Author, and Co-Owner of LTC Expert Publications. Read More at http://www.LTCSocialMark.com

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Home Healthcare Market Anticipated Growth Projected to Hit Nearly $350 Billion by 2020
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Home Healthcare Market Anticipated Growth Projected to Hit Nearly $350 Billion by 2020
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The healthcare industry in the United States continues to experience strong growth, and the home health care sector is also booming. According to some estimates, the home health care sector could reach $350 billion in revenue by 2020. This level of growth is due to numerous factors, not the least of which is a desire by more people to remain home as opposed to spending time in a nursing home or hospital environment.
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