The home healthcare market encompasses various applications aimed at providing medical and non-medical care within the patient's residence. Applications include skilled nursing, rehabilitation therapy, medical equipment and supplies, and personal care services. Skilled nursing and therapy services are dominant segments, addressing post-hospitalization needs and chronic disease management. These services enable patients to recover and manage conditions from the comfort of home, reducing hospital stays. The convenience, cost-effectiveness, and patient-centric approach of these segments contribute to their dominance in the home healthcare market.
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Data Bridge Market Research analyses that the Canada Home Healthcare Market will grow at a CAGR of 8.1% during the forecast period of 2022 to 2029. The increasing occurrence of chronic diseases such as diabetes and heart conditions demands continuous medical attention. Home healthcare offers a convenient solution, allowing patients to receive regular care and monitoring in the comfort of their homes, improving their overall quality of life.
Key Findings of the Study
The aging population is expected to drive the market's growth rate
The worldwide growth of the elderly population serves as a prominent driver for the home healthcare sector. With aging, individuals frequently experience an elevated need for healthcare services. Moreover, a substantial proportion of seniors express a preference for receiving care within their familiar home environment. This demographic trend underscores the importance of home healthcare as a solution to meet the escalating healthcare demands of the elderly, promoting their well-being while maintaining their independence and comfort.
Report Scope and Market Segmentation
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Report Metric
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Details
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Forecast Period
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2022 to 2029
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Base Year
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2021
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Historic Years
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2020 (Customizable to 2014-2019)
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Segments Covered
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Type (Devices, Services, and Software), Disease (Heart Diseases, Hypertension, Diabetes, Chronic Obstructive Pulmonary Diseases, Obesity, Dementia/Alzheimer's Diseases, Depression, Asthma, Infective Diseases (HIV/AIDS), Parkinson's Diseases, Bone and Joint Diseases, Smoking and Others), Distribution Channel (Retail Sales And Direct Tender)
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Countries Covered
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Ontario, Quebec, British Colombia, Alberta, and Rest of Canada.
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Market Players Covered
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Medtronic (U.S.), Koninklijke Philips N.V. (Netherlands), ResMed (U.S.), Abbott (U.S.), F. Hoffmann-La Roche Ltd (Switzerland), EXTENDICARE (Canada), Bayshore HealthCare (Canada), Fresenius Medical Care AG & Co. KGaA (Germany), 3M (U.S.), General Electric Company (U.S.), Saint, Elizabeth Healthcare (Canada), Omron Healthcare, Inc. (A Subsidiary of OMRON Corporation) (Japan), AlayaCare (Canada), Siemens Healthcare GmbH (Germany), Boston Scientific Corporation (U.S.), Cardinal Health (U.S.), Fisher & Paykel Healthcare Limited (New Zealand), Coloplast Canada (A Subsidiary of Coloplast Group) (Denmark), Invacare Corporation (U.S.), Air Liquide Medical Systems (A subsidiary of Air Liquide) (France)
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Data Points Covered in the Report
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In addition to the insights on market scenarios such as market value, growth rate, segmentation, geographical coverage, and major players, the market reports curated by the Data Bridge Market Research also include depth expert analysis, patient epidemiology, pipeline analysis, pricing analysis, and regulatory framework.
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Segment Analysis:
The Canada home healthcare market is categorized into three notable segments, which are based on type, diseases, and distribution channel.
- On the basis of type, the Canada home healthcare market is segmented into devices, software, and services.
- On the basis of disease, the Canada home healthcare market is segmented into heart diseases, hypertension, diabetes, chronic obstructive pulmonary diseases, obesity, dementia/Alzheimer’s diseases, depression, asthma, infective diseases (HIV/AIDS), Parkinson’s diseases, bone and joint diseases, smoking and others
- On the basis of distribution channel, the Canada home healthcare market is segmented into retail sales and direct tender.
Major Players
Data Bridge Market Research recognizes the following companies as the major Canada home healthcare market players in Canada home healthcare market are Medtronic (U.S.), Koninklijke Philips N.V. (Netherlands), ResMed (U.S.), Abbott (U.S.), F. Hoffmann-La Roche Ltd (Switzerland), EXTENDICARE (Canada), Bayshore HealthCare (Canada), Fresenius Medical Care AG & Co. KGaA (Germany), 3M (U.S.), General Electric Company (U.S.), Saint, Elizabeth Healthcare (Canada), Omron Healthcare, Inc. (A Subsidiary of OMRON Corporation) (Japan), AlayaCare (Canada).
Market Developments
- In November 2021, AlayaCare completed the acquisition of Delta Health Technologies, a company specializing in home health solutions. This strategic move further solidifies AlayaCare's leading role as a provider of software-as-a-service (SaaS) technology within the home health sector. It represents a significant step in AlayaCare's ongoing dedication to enhancing the integration of in-home care into the broader healthcare continuum, aiming to create a more connected and comprehensive healthcare experience.
- In June 2023, news broke that Amedisys had reached an agreement to merge with Optum, a company known for offering a wide range of healthcare services. Amedisys is recognized for delivering individualized home health and hospice care, conducting more than 11.2 million visits to patients' residences every year. This merger marks a significant development in the healthcare industry, bringing together two prominent entities to provide enhanced healthcare solutions and services.
- In April 2022, Fresenius Medical Care unveiled that the FDA had granted approval for its VersiPD Cycler System. This innovative, portable peritoneal dialysis system boasts a user-friendly touchscreen interface, aiding patients in the setup and treatment process. It is complemented by the Kinexus Therapy Management Platform, an integrated healthcare system that enhances patient care through connectivity and data management.
- In August 2022, Graham-Field launched the Everest & Jennings PureTilt Tilt-in-Space Wheelchair, designed to enhance patient comfort through secure and self-directed transitions. This wheelchair incorporates a user-friendly tilt control system, enabling individuals to independently adjust their sitting position throughout the day, promoting convenience and well-being.
- In March 2023, Philips unveiled the Philips Virtual Care Management solutions and services portfolio. This initiative aims to enhance patient engagement and promote better health outcomes by adopting a more comprehensive telehealth strategy.
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