Latin American Home Healthcare Market Size, Share, Growth Analysis, By Product(Home tests and Patient monitoring equipment), By Services(Rehabilitation services, Infusion services) - Industry Forecast 2024-2031

Report ID: SQMIR35G2277 | Region: Regional | Published Date: February, 2024
Pages: 157 | Tables: 64 | Figures: 78

Latin American Home Healthcare Market Regional Insights

On the basis of region, Latin American home healthcare market is divided into Brazil, Mexico, Argentina, Colombia, and Rest of Latin America. Brazil accounted for the largest share in the Latin American home medical equipment market in 2022 and is expected to grow at highest CAGR during forecast period. Approximately, Brazil contributed more than 35% of market, in Latin America home healthcare market. Increasing healthcare awareness and rising healthcare expenditure on chronic diseases in Brazil drive the market growth. Mexico contributed the second largest share, over 25% of the total market in 2021 and is expected to grow at fastest growth during the forecast period. High prevalence of diabetes & cardiovascular diseases and increasing healthcare investment by the Government of Mexico will support the growth of home healthcare in Mexico. The introduction of new technologies, with the launch of new products by key companies, is primarily responsible for the growth of the home healthcare market in Argentina and Colombia.

Latin American Home Healthcare Market Report Snapshots

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Latin American Home Healthcare Market size was valued at USD 22.26 billion in 2021 and is poised to grow from USD 23.03 billion in 2022 to USD 37.15 billion by 2030, growing at a CAGR of 9.6% in the forecast period (2023-2030).

The Latin America home healthcare market is moderately competitive with the presence of many well-known international and regional market players operating in the country. Major players in the market are highly implementing several growth strategies including new technology development, partnerships and collaborations to expand their product portfolio and strengthen their market position. 'Fresenius SE & Co. KGaA', 'Linde plc', 'Almost Family Inc. (LHC Group)', 'Amedisys Inc.', 'Kinnser Software', 'Medline Industries Inc.', 'Sunrise Medical (US) LLC', 'Arkray Inc.', 'ConvaTec Group PLC', 'B. Braun Melsungen AG', 'Abbott Laboratories', 'Roche Holding AG', 'Medtronic plc', 'Becton, Dickinson and Company', 'Cardinal Health Inc.', 'Coloplast A/S', 'Hill-Rom Holdings Inc.', 'Invacare Corporation', 'ResMed Inc.', 'Stryker Corporation', 'In August 2021, the Brazilian digital health company, VivaBem, announced the acquisition of Populo Serviços Médicos, a home care services provider. This acquisition allows VivaBem to expand its home health services and further integrate its telemedicine platform with home care.', 'In June 2021, the Colombian telemedicine and home health company, MiDoctor, secured $25 million in funding to expand its operations and services. MiDoctor provides virtual consultations, telemonitoring, and home health services in several Latin American countries.', 'In March 2021, the Chilean home health care provider, Nidmi, announced a partnership with the digital health platform, SaludOnNet. The partnership aims to improve access to home health services through SaludOnNet's platform, which connects patients with healthcare providers in several Latin American countries.'

Latin America's population aged 65 or above is growing continuously on year and year basis. So the demand of elderly care is expected to rise. This aging population has different sickness such as diabetes, joint pain, cardiovascular disease and circulatory strain. Growing elderly population with increasing demand for home healthcare devices and services fuel the market growth in Latin America. Also raising awareness of the convenience and cost-effectiveness of home healthcare products and services, technological advancements such as, wearable devices, mobile health applications, and government initiatives to promote home healthcare services and devices are driving the Latin America home health care market.

The Latin American home health market will heavily depend on technology. One of the major trend driving market expansion is the increase in the usage of digital devices for home health monitoring. Big data, AI, and automation are being used by home healthcare providers to create unique customer experiences. Big data can be used to identify patient patterns that will help in more effective therapy and diagnosis. Data analytics have been used to manage the flu epidemic and identify the strains to include in the flu vaccine. There are now technologies and software options available for remote health monitoring.

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Latin American Home Healthcare Market Size, Share, Growth Analysis, By Product(Home tests and Patient monitoring equipment), By Services(Rehabilitation services, Infusion services) - Industry Forecast 2024-2031

Latin American Home Healthcare Market Regional Insights

Latin American Home Healthcare Market Report Snapshots

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