Canada Home Healthcare Market – Industry Trends and Forecast to 2029

Canada Home Healthcare Market Analysis and Insights

Home care services help people with frailty or with acute, chronic, palliative, or rehabilitative healthcare needs to independently live in their community and co-ordinate and manage admission to facility care when living in the community is not a viable alternative. Home care services include nursing, personal support/homemaker, therapy (including physiotherapy, occupational therapy, speech-language pathology, social work, nutrition/dietetics), medical supplies and equipment, and case management.

Due to rising economic growth, people are more interested in long-term health and wellness. Diabetes patients need devices to monitor their sugar level, check pregnancy, increase the demand of pregnancy strips, and monitor blood pressure resulting in increased demand for devices such as blood glucose monitors, sphygmomanometers, and others. Home healthcare management service helps manage chronic diseases such as diabetes, heart failure or chronic obstructive pulmonary disease (COPD), and cancer. Its service includes nursing service, hospice service, and medication dispensing. Lack of skilled home care service providers and coordination between service providers and patients leads to irregular treatment may create challenges for the Canada home healthcare market. There are recent developments related to the Canada home healthcare market.

The home healthcare market is supportive and aims to reduce the progression of the disease. Data Bridge Market Research analyses that the home healthcare market will grow at a CAGR of 8.1% during the forecast period of 2022 to 2029.

Canada Home Healthcare Market Dynamics

Drivers

• Increasing Cases of Chronic Diseases Leading to Rising Usage of Home Healthcare Devices

With the rising economic growth, people are more interested in long-term health and wellness. Diabetes patients need devices to monitor their sugar level, check pregnancy, increase the demand of pregnancy strips, and monitor blood pressure, growing demand for devices such as blood glucose monitors, sphygmomanometers, and others. Home healthcare management service helps manage chronic diseases such as diabetes, heart failure or chronic obstructive pulmonary disease (COPD), and cancer. Its service includes nursing service, hospice service, and medication dispensing.

• Increasing Geriatric Population

As the geriatric population is more prone to chronic disease and injuries, the prevalence rate of their diseases and injuries in Canada leads to demand for home healthcare services to monitor and care for their health. Therefore, the geriatric population and their rising disease rates play a major role in driving the home healthcare market. A glucose meter is used to monitor sugar levels in the blood for insulin administration; insulin injections and or a pen are available. Also, the favourable reimbursement policies in these countries is expected to drive the growth of market.

Furthermore, Increase in strategic initiatives by key players, advancement in medical technology, recent advancements in home healthcare devices, rising initiatives by public and private organizations to spread awareness and growing government funding are the factors that will expand the home healthcare market.

Opportunities

• Increasing Demand for Telehealth

Telehealth uses the electronic gadget to monitor health daily routine activities. Tele-monitoring helps avoid the trip to the hospital by identifying early warning signs like unforeseen blood pressure. Including that it helps monitor blood pressure, heart rate, blood glucose level, oxygen levels, and weight and health status.

Also, the increasing drug approvals will provide beneficial opportunities for the home healthcare market in the forecast period of 2022-2029. Also, the partnership and agreement by major players will escalate the growth rate of the home healthcare market in the future.

Restraints/Challenges

However, the home healthcare workers working in different environments face several safety and health hazards. These hazards include blood-borne pathogens and biological hazards, latex sensitivity, ergonomic hazards from patient lifting, violence, hostile animals, and unhygienic and dangerous conditions. Different hazards threaten patient safety, including violent or unstable patients, unsafe neighbourhoods, potentially dangerous pets, and family members. Patients also have concerns related to the environment, including overheated room temperatures, poor indoor air quality, and unsanitary conditions due to rodents and insects. The cross-contamination transfer of pathogens through direct and indirect contact with animals, raw food, and contaminated inanimate objects can place the frail elderly and others at risk.

This home healthcare market report provides details of new recent developments, trade regulations, import-export analysis, production analysis, value chain optimization, market share, the impact of domestic and localized market players, analyses opportunities in terms of emerging revenue pockets, changes in market regulations, strategic market growth analysis, market size, category market growths, application niches and dominance, product approvals, product launches, geographic expansions, technological innovations in the market. To gain more info on home healthcare market contact Data Bridge Market Research for an Analyst Brief, our team will help you take an informed market decision to achieve market growth.

Post COVID-19 Impact on Home Healthcare Market

The COVID-19 has negatively affected the market. Lockdowns and isolation during pandemics complicate the disease management and medication adherence. Isolation and non-contact of medical service providers and patients will further affect the market. Social isolation increases stress, despair, and social support, all of which may cause a reduction in service adherence during the pandemic.

Recent Development

• In November 2021, AlayaCare acquired Delta Health Technologies, a specialized home health solutions provider. The acquisition of Delta Health Technologies extends AlayaCare’s position as a leading provider of software-as-a-service (SaaS) technology in the home health market. This is a major development in AlayaCare’s commitment to make in-home care a more connected and integrated part of the healthcare continuum.

Canada Home Healthcare Market Scope

Canada home healthcare market is categorized into three notable segments, which are based on type, diseases and distribution channel. The growth amongst these segments will help you analyse meagre growth segments in the industries and provide the users with a valuable market overview and market insights to make strategic decisions to identify core market applications.

Type

• Devices
• Services
• Software

Based on type, the market is segmented into devices, software, and services. Based on devices, the market is segmented into testing, screening, and monitoring products, therapeutics, mobility care, continence care, and wound care. On the basis of testing, screening, and monitoring products, the market is segmented into blood pressure monitors, blood glucose monitors, cholesterol monitoring devices, pulse oximeters, peak flow meters, heart rate monitors, fetal monitoring devices, HIV test kits, sleep apnea monitors, coagulation monitors, ovulation and pregnancy test kits, Holter and event monitors, colon cancer test kits, home hemoglobin A1C test kits, drug, and alcohol test kits, ECG/EKG devices, temperature monitors, hearing aids and pedometers. Based on therapeutics, the market is segmented into oxygen delivery systems, nebulizers, ventilators, dialysis equipment, insulin delivery devices, inhalers and other therapeutic products. On the basis of mobility care the market is segmented into canes, crutches, mobility scooters, walkers and rollators and wheelchairs. On the basis of continence care the market is segmented into briefs & diapers, urinary catheters, underpads and liners and others. On the basis of wound care the market is segmented into traditional wound dressing, advanced wound dressing, negative pressure wound therapy and others. On the basis of services, the market is segmented into rehabilitation, infusion therapy service, unskilled care, pregnancy care, skilled nursing, hospice and palliative care, technological (virtual / remote / telehealth), companion care, infusion therapy services, medical social working services, durable medical equipment services, post-acute care services, primary care services, urgent care service and others. On the basis of rehabilitation, the market is segmented into occupational therapy, physical therapy and speech & language pathologists. On the basis of unskilled care, the market is segmented into domestic, personal, and others. On the basis of skilled nursing the market is segmented into wound care, diabetic care, cardiac & respiratory assessment, pain management, IV therapy, cancer care and others. On the basis of others, the market is segmented into nutritional, visually impaired. On the basis of software, the market is segmented into agency software, clinical management systems and hospice solutions.

Disease

• Heart Diseases
• Hypertension
• Bone and Joint Diseases
• Diabetes
• Chronic Obstructive Pulmonary Diseases
• Obesity
• Dementia/Alzheimer's Diseases
• Infective Diseases (HIV/AIDS)
• Parkinson's Diseases
• Smoking
• Asthma
• Depression
• Others

Based on disease, the 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.

Distribution Channel

• Direct Tender
• Retail Sales

Based on distribution channel, the Canada home healthcare market is segmented into retail sales and direct tender

Canada Home Healthcare Market Regional Analysis/Insights

The interventional cardiology and peripheral vascular devices market is analysed and market size insights and trends are provided by province, type, diseases, and distribution channel as referenced above.

The provinces covered in the market report are Ontario, Quebec, British Colombia, Alberta, and Rest of Canada.

Ontario dominates the Canada home healthcare market in terms of market share and market revenue and will continue to flourish its dominance during the forecast period. This is due to the presence of major key players and well-developed healthcare infrastructure in this region.

Competitive Landscape and Home Healthcare Share Analysis

Canada home healthcare market competitive landscape provides details by the competitors. Details included are company overview, company financials, revenue generated, market potential, investment in research and development, new market initiatives, global presence, production sites and facilities, production capacities, company strengths and weaknesses, product launch, product width and breadth, and application dominance. The above data points provided are only related to the companies' focus on inherited retinal diseases market.

Some of the major players operating in the Canada home healthcare market are Medtronic, Koninklijke Philips N.V., ResMed, Abbott, F. Hoffmann-La Roche Ltd, EXTENDICARE, Bayshore HealthCare, Fresenius Medical Care AG & Co. KGaA, 3M, General Electric Company, Saint Elizabeth Healthcare, Omron Healthcare, Inc. (A Subsidiary of OMRON Corporation), AlayaCare, Siemens Healthcare GmbH, Boston Scientific Corporation, Cardinal Health, Fisher & Paykel Healthcare Limited, Coloplast Canada (A Subsidiary of Coloplast Group), Invacare Corporation, Air Liquide Medical Systems (A subsidiary of Air Liquide), among others.

Research Methodology

Data collection and base year analysis are done using data collection modules with large sample sizes. The market data is analysed and estimated using market statistical and coherent models. In addition, market share analysis and key trend analysis are the major success factors in the market report. The key research methodology used by DBMR research team is data triangulation which involves data mining, analysis of the impact of data variables on the market, and primary (industry expert) validation. Apart from this, data models include Vendor Positioning Grid, Market Time Line Analysis, Market Overview and Guide, Company Positioning Grid, Company Market Share Analysis, Standards of Measurement, Global Vs Regional and Vendor Share Analysis. Please request analyst call in case of further inquiry.

SKU-68058