Latin America Home Healthcare Market Worth $37.15 billion by 2030 - Market Size, Share, Forecasts, & Trends Analysis Report with COVID-19 Impact by Meticulous Research®

REDDING, Calif., Feb. 23, 2023 /PRNewswire/ -- According to a new market research report titled, 'Latin America Home Healthcare Market by Product (Equipment [Therapeutic {Insulin, Dialysis}, Diagnostic {Blood Pressure, Heart Rate}, Mobility], Services [Skilled {Primary Care, Nursing Nutritional}], Application (CVD, Diabetes, Cancer) - Forecast to 2030,' published by Meticulous Research^®, the Latin America home healthcare market is expected to reach $37.15 billion by 2030, at a CAGR of 9.6% from 2023 to 2030.

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Home healthcare equipment and services are used to fulfill the healthcare needs of the patient while they are at home. Home healthcare is mostly used when a patient or individual requires prolonged care or stays in healthcare facilities. Home healthcare includes equipment (therapeutics, diagnostics, and mobility assistive equipment) and services (skilled home healthcare and unskilled home healthcare) used by patients or individuals to manage various conditions such as cardiovascular diseases, diabetes, respiratory diseases, pregnancy, mobility disorders, and cancer. The report focuses on the Latin American region and analyses various home healthcare equipment and services offered by key companies in Latin America.

Rising Geriatric Population: Driving the Growth of the Latin America Home Healthcare Market

The geriatric population uses home healthcare equipment and services to support their healthcare needs. The geriatric population requires home care for various medical conditions such as heart disease, diabetes, and bone & joint-related disorders. According to the World Bank Group, in 2021, the top 5 Latin American countries with the largest number population aged 65 years and above were Brazil (20.53 million), Mexico (10.30 million), Argentina (5.41 million), Colombia (4.49 million), and Chile (2.47 million). For example, according to the Pan American Health Organization (PAHO), in 2019, the population aged 60 years and above was more than 30 million in Brazil, accounting for 13% of the total population. This number is expected to reach approximately 50 million by 2030 and account for 24% of the total population. Around 76.3% of people aged 60 years and above in Brazil have at least one chronic disease, while 53.6% have multiple chronic conditions (source: Pan American Health Organization [PAHO]). Thus, the growth in the aging population and the subsequent rise in the prevalence of chronic diseases is expected to increase the demand for home healthcare equipment and services, driving the growth of the home healthcare market in Latin America.

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Latin America Home Healthcare Market: Future Outlook

The Latin America home healthcare market is segmented based on Product (Equipment [Therapeutic, Diagnostics, and Mobility Assistive Equipment] and Services [Skilled and Unskilled]), Application (Cardiovascular Diseases & Hypertension, Diabetes, Respiratory Diseases, Pregnancy, Mobility Disorders, Cancer, Wound Care, and Other Conditions), and Country (Brazil, Mexico, Argentina, Colombia, and Rest of Latin America). The study also evaluates industry competitors and analyzes their market share at the country level.

Based on product, the Latin America home healthcare market is segmented into equipment and services. In 2023, the equipment segment is expected to account for the larger share of the Latin America home healthcare market. The large market share of this segment is attributed to factors such as the rising geriatric population; the high cost of hospitalization; technological innovations in home healthcare equipment, and the growing prevalence of diseases that require frequent usage of home healthcare equipment such as home dialysis equipment, insulin delivery devices, and intravenous pumps.

Based on application, the Latin America home healthcare market is segmented into cardiovascular diseases & hypertension, diabetes, respiratory diseases, pregnancy, mobility disorders, cancer, wound care, and other conditions. In 2023, the diabetes segment is expected to account for the largest share of the Latin America home healthcare market. Diabetes is a major health crisis in Latin American countries and is one of the leading causes of death. According to the International Diabetes Federation (IDF) Diabetes Atlas 2021, the prevalence of diabetes was highest in the youth population of Brazil and Mexico. In 2021, 15.7 million people aged 20–79 years were living with diabetes in Brazil. This number is expected to reach 23.2 million by 2045. Thus, the rising prevalence of diabetes across Latin America, the increasing need for continuous monitoring of glucose levels, and advancement in diabetes technology drive the demand for diabetes homecare equipment.

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Based on country, the Latin America home healthcare market is segmented into Brazil, Mexico, Argentina, Colombia, Chile, Venezuela, Peru, Ecuador, Uruguay, and the Rest of Latin America. In 2023, Brazil is expected to account for the largest share of the Latin America home healthcare market. Brazil's major market share is attributed to the high prevalence of chronic diseases, the growing geriatric population, and the higher healthcare expenditure in Brazil compared to other Latin American countries. Furthermore, diabetes is the third leading cause of death in Brazil, with cardiovascular diseases and cancer being number one and two, respectively. The prevalence of diabetes in Brazil is 7.6% of the population. (Source: Brazilian Chamber of Laboratory Diagnostics). These factors drive the growth of the home healthcare market in Brazil.

Key companies operating in the Latin America home healthcare market are Abbott Laboratories (U.S.), Koninklijke Philips N.V. (Netherlands), Boston Scientific Corporation (U.S.), GE HealthCare Technologies Inc. (U.S.), Siemens Healthineers AG (Germany), Amedisys, Inc. (U.S.), LHC Group, Inc. (U.S.), Baxter International Inc. (U.S.), Becton, Dickinson and Company (U.S.), JOHNSON & JOHNSON (U.S.), OMRON Corporation (Japan), Fresenius SE & Co. KGaA (Germany), and Masimo Corporation (U.S.).

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Scope of the Report:

Latin America Home Healthcare Market, by Product

• Equipment
• Therapeutic
• Respiratory Therapy Equipment
• Insulin Delivery Devices
• Intravenous Equipment
• Dialysis Equipment
• Wound Care Products
• Other Therapeutic Equipment
• Diagnostics
• Diabetic Care Unit
• Blood Pressure Monitors
• Multi Parameter Diagnostic Monitors
• Home Pregnancy and Fertility Kits
• Apnea And Sleep Monitors
• Holter Monitors
• Heart Rate Monitors
• Others Diagnostic Equipment
• Mobility Assistive Equipment
• Wheelchair
• Mobility Scooters
• Walkers and Rollators
• Other Assistive Equipment
• Services
• Skilled Home Healthcare Services
• Physician Primary Care
• Nursing Care
• Physical/Occupational/Speech Therapy
• Nutritional Support
• Hospice & Palliative
• Other Skilled Home Healthcare Service
• Unskilled Home Healthcare Services

Other Therapeutic Equipment includes ostomy devices, automated external defibrillators, and external stimulation devices.

Other diagnostic equipment include HIV kits, Oximeters, Thermometers, Stethoscopes, and Peak Flow Meters.

Other skilled home healthcare services include pain management, IV therapy, and home health aide services.

Latin America Home Healthcare Market, by Application

• Cardiovascular Diseases & Hypertension
• Diabetes
• Respiratory Diseases
• Pregnancy
• Mobility Disorders
• Cancer
• Wound Care
• Other Applications

Other applications include Alzheimer's, pneumonia, infection, flu, and joint replacement.

Latin America Home Healthcare Market, by Geography

• Brazil
• Mexico
• Argentina
• Colombia
• Chile
• Venezuela
• Peru
• Ecuador
• Uruguay
• Rest of Latin America

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