Growing regional health caregiving markets spread across APAC and North America to fuel the expansion of the global health caregiving market
The global health caregiving market is likely to witness a massive growth in the next few years. The global health caregiving market was pegged at more than US$ 70 Bn in 2015 and is estimated to cross US$ 200 Bn by the end of 2024, registering a CAGR of 12.6% over the forecast period. Rising inflation rate leading to larger out-of–pocket expenses, growing trend of nuclear families, significant growth in the use of smartphones and tablets are some of the factors that are anticipated to expedite the expansion of the global health caregiving market. Owing to an increase in the number of people suffering from chronic diseases such as coronary heart disease and diabetes, the North America health caregiving market followed by Europe is expected to be the largest market by the end of 2024. The Asia Pacific health caregiving market is anticipated to project continuous growth due to an increase in the prevalence of chronic diseases. The global health caregiving market is projected to represent absolute dollar opportunity of more than US$ 8 Bn by the end of 2017.
Emerging trends that are likely to influence the expansion of the global health caregiving market
Growing online home delivery services are expected to create positive disruption in the global health caregiving market. The primary stakeholders, present in the global health caregiving market will change their advertisement strategies to expand their customer outreach in the forthcoming years. Technology will play a crucial role and the demand for user-friendly apps will soar in the global health caregiving market. The dependency on social media tools is likely to change the fabric of this market in the years to come. Every day more and more healthcare professionals are utilizing diverse social media platforms to share relevant information and compare and improve the quality of services being offered to patients, and also to train medical personnel.
North America and APAC regions to play a crucial role in the overall development of the global health caregiving market
The U.S is likely to play a significant role in the North America health caregiving market and is estimated to cross more than US$ 115 Bn by expanding at a CAGR of 16.2% by the end of the assessment period. Canada is the second fastest growing health caregiving market in the North America region. The Canada health caregiving market will mint more than US$ 20 Bn by the end 2024. The U.S is expected to be a lucrative market for health caregiving owing to the development of novel technologies to assist the care receiving population.
The APAC health caregiving market is also projected to showcase significant growth during the forecast period. Japan is anticipated to emerge as the biggest health caregiving market in the Asia Pacific region by reaching a market value of more than US$ 2.5 Bn by the end of the foreseen period. Japan’s health caregiving market will record a CAGR of 6.5% through the assessment period. China will compete hard with other growing markets spread across the APAC region. China is anticipated to reach over US$ 2.1 Bn by the end of the forecast period. India’s booming healthcare economy will contribute greatly to the development of the APAC health caregiving market. The ASEAN market will expand at a CAGR of 7% over the forecast period. Australia and New Zealand markets are anticipated to be valued close to US$ 2.5 Bn by the end of 2024.
Mobile service producers are rapidly innovating new products to cater to the needs of the elderly population. Key players operating in the global health caregiving market will depend more on social media platforms to publicize their products. Among the regional markets, APAC is projected to emerge as the fastest growing market in the global health caregiving market owing to a rising number of elderly people in countries such as India and China.
Persistence Market Research analyzes the growth potential of the global health caregiving market in a newly published report titled “Health Caregiving Market: Global Industry Analysis and Forecast, 2016–2024”. This report showcases relevant market data for 2015 along with a forecast for the period 2016-2024. The prime objective of the report is to identify all the possible developments that are likely to impact the growth of the global health caregiving market in the next few years. Drivers, restraints and trends not only define the character of a market, but also impact the strategy of key companies operating in the market. The report scrutinizes the impact of various market dynamics likely to influence the present and future climate of the global health caregiving market.
By Care Type
Daily Essential Activities
Health and Safety Awareness
Caregiver Quality of Life
By End User
This elaborate report on the global health caregiving market commences with the executive summary, taxonomy and key market definitions. The executive summary gives a 360 degree view of the global health caregiving market. Forecast value, Y-O-Y growth rate and CAGR are also mentioned in the executive summary. The report provides a glimpse of the key drivers, restraints and trends and also furnishes a consolidated list of key stakeholders operating in the global health caregiving market.
The taxonomy section of the report explains all the major segments of the global health caregiving market. The report elaborates on various key market dynamics and also presents an independent analysis of challenges, drivers and trends that will probably define the future of the global health caregiving market. The subsequent sections of this report present a detailed insight into the regional markets and incorporate some of the key information about market size, CAGR and several other prime elements that constitute the global health caregiving market. Market share and Y-O-Y growth rate comparison of individual segments has been included in this section of the report. Absolute dollar opportunity recorded by each segment of the global health caregiving market across different assessed regions is also provided in this chapter.
The final part of the report deals with the performance of the major shareholders present in the global health caregiving market. The report also provides information on the long-term and short-term strategies of some of the leading market players. This section is intended to provide a dashboard view of the competitive landscape of the global health caregiving market.
Persistence Market Research identifies the global health caregiving market scenario, market structure, market trends by region, industry growth projections and market opportunities through extensive secondary research. The procured data is validated using the triangulation method, wherein secondary and primary research and Persistence Market Research analysis contribute to the final data. This final data is further scrutinized using advanced tools to obtain qualitative and quantitative insights into the industry. This report encapsulates the key metrics that accurately describe the global health caregiving market and uses this data to compare the market performance across various segments and regions.
Given the volatile nature of the global economy, the report not only estimates the CAGR of the regional and global markets but also analyzes the global health caregiving market on the basis of key growth parameters such as Y-O-Y growth to understand market predictability and to identify the right opportunities likely to emerge in the global health caregiving market. The report further studies the different market segments by conducting a BPS (Basis Point Share) analysis to understand the relative contribution of individual segments to overall market growth. This detailed level of information is critical to identify the key market trends governing the global health caregiving market. Analysis of the revenue forecast is also done in terms of absolute dollar opportunity, critical in assessing the level of opportunity that market providers can look to achieve and also to identify potential resources and opportunities in the global health caregiving market. A unique market attractiveness index is also included to help market companies identify current and future market opportunities.