Latin America Home Healthcare Market by Offering (Equipment [Therapeutic {Insulin, Dialysis}, Diagnostic {Blood Pressure, Heart Rate}, Mobility], Services [Skilled {Primary Care, Nursing Nutritional}], Application (CVD, Diabetes, Cancer) - Forecast to 2030

The Latin America Home Healthcare Market is expected to grow at a CAGR of 9.6% from 2023 to 2030 to reach $37.15 billion by 2030. Patients or individuals use home healthcare equipment and services to manage various conditions such as cardiovascular diseases, hypertension, diabetes, respiratory diseases, pregnancy, mobility disorders, cancer, wound care, and other conditions at home. Home healthcare is mostly used when a patient or individual requires prolonged care or stays in healthcare facilities. The growth of the Latin America Homecare Market is attributed to the rising burden of chronic diseases, the growing geriatric population, the rising healthcare costs, and increasing healthcare expenditure. However, the shortage of skilled professionals is expected to restrain the growth of this market.

Furthermore, the growing adoption of telehealth and remote patient monitoring is expected to offer growth opportunities for the players operating in this market. However, low awareness regarding home healthcare is a major challenge for the growth of the Latin America home healthcare market.

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Impact of COVID-19 on Latin America Home Healthcare

The key players operating in the Latin America home healthcare market experienced an initial shrinkage due to operational restrictions and supply chain disruption imposed on various industries globally. However, after the initial shrinkage, the COVID-19 pandemic positively impacted the Latin America home healthcare market. During the pandemic's peak, governments across Latin American countries imposed restrictions and nationwide lockdowns. Hospitals and other healthcare facilities were overcrowded with COVID-19 patients. Thus, home healthcare enabled physicians to serve patients at home and avoid unnecessary hospital visits. Doctors could monitor their patient health remotely with the help of home healthcare equipment. These factors substantially boosted the demand for home healthcare equipment, such as blood pressure monitors, thermometers, home respiratory therapy equipment, and Heart rate meters.

Rising Old Age Population and the Subsequent Increase in Chronic Disease Prevalence Driving the Growth of the Latin America Home Healthcare Market

The old age population widely uses home healthcare equipment and services to support their growing healthcare needs for various medical conditions such as cardiovascular diseases, diabetes, and bone & joint-related disorders. Countries such as Brazil, Mexico, Argentina, Colombia, and Chile have the largest old-age population in the region. For example, 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 (Source: Pan American Health Organization). Furthermore, according to the Pan American Health Organization (PAHO), 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. Similarly, according to the International Agency for Research on Cancer (IARC), the risk of developing cancer after the age of 75 is 78.5% in Brazil, which drives the demand for home healthcare in terms of nursing care and Hospice & palliative care. Thus, the growth in the aging population and the subsequent increase in chronic disease prevalence is expected to drive the home healthcare market in Latin America.

Key Findings in the Latin America Home Healthcare Market Study:

Equipment Segment To Generate the Largest Proportion of Revenue in 2023

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 the ease of use of home healthcare equipment and the high hospitalization costs of visiting hospitals, physicians, or pathology labs for different tests.

Diabetes Segment to Dominate the Latin America Home Healthcare Market in 2023

In 2023, the diabetes segment is expected to account for the largest share of the Latin America home healthcare market. The large market share of this segment is attributed to the rising prevalence of diabetes across Latin America, the need for continuous monitoring of glucose levels among diabetic patients, and advancements in diabetes technology. 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.

Brazil to Dominate the Market in 2023

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.

Key Players

The report includes a competitive landscape based on an extensive assessment of the key growth strategies by leading market participants between 2020 and 2023. The key players profiled in the Latin America home healthcare market report 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.).

Scope of the Report:

Latin America Home Healthcare Market, by Offering

• 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 Mobility Assistive Equipment
• Services
  • Skilled Home Healthcare Services
    • Physician Primary Care Services
    • Nursing Care
    • Physical/Occupational/Speech Therapy
    • Nutritional Support Services
    • Hospice & Palliative Services
    • Other Skilled Home Healthcare Services
  • Unskilled Home Healthcare Services
    (Other therapeutic equipment includes ostomy devices, automated external defibrillators, and external stimulation devices.)
    (Other diagnostic equipment includes 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

Key questions answered in the report: