World News: 10:49 GMT Friday 12th July 2019. [Fortune Business Insights via Globe Newswire via SPi World News]
Pune, July 12, 2019 (GLOBE NEWSWIRE) -- The is likely to expand considerably in the coming years, stoked by increasing geriatric population in this nation. According to a report published by Fortune Business Insights, titled the market was valued at US$ 1,192.6 Mn in 2018. Fortune Business Insights has predicted that the market will reach US$ 1,951.7 Mn by the end of 2026, thereby exhibiting a CAGR of 6.4%.
The increasing demand for convenient healthcare diagnosis and treatment has led to a subsequent rise in need for home healthcare in the U.K. The increasing home healthcare expenditure has contributed to the growth of the market in recent years. The increasing geriatric population has led to an increase in demand for home healthcare services in this region. In addition to the geriatric population, high prevalence of chronic diseases has aided the growth of the UK home healthcare market in recent years.
The adoption of home healthcare services rises in response to the geriatric population. Home healthcare offer several facilities to those ailing and the ageing population. As aged people are often to vulnerable to chronic ailments, frequent hospital visits can be common among them. According to the Central Bureau of Statistics (CBS), the total population over the age of 65 in the UK was an estimated 3.31 million in 2019. This accounted for more than 19% of the total population in the region and such high numbers will favor the growth of the UK home healthcare market in the coming years. Furthermore, according to the 2023 statistics, the total elderly population increased from 19.4% in 2019 to 23%. The high prevalence of ageing and elderly population provides several growth opportunities for the UK home healthcare market.
The demand for easy-to-use devices has led to several innovations in home healthcare systems. The primary reason behind ease in functionality is the fact that home healthcare devices do not operate under the supervision of any skilled professionals or related doctors. This, in turn, has led to several technological advancements in home healthcare market in the UK. Advancements in products such as breast pumps, prosthetic devices, nebulizers, walkers and wheelchairs, and artificial limbs have contributed to the growth of the UK home healthcare market. Fortune Business Insights has predicted that these technological interventions will enable growth of the market in the forthcoming years.
The report encompasses several market aspects and forecasts market values for the period of 2019-2026. The report includes a detailed analysis of several factors that have aided the growth of the UK home healthcare market. Furthermore, the report provides a thorough assessment of leading companies that are operating in the UK home healthcare market. The report gauges the impact that these companies have on the market and also identifies companies that will lead the market in the forthcoming years.
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Globe Newswire: 10:49 GMT Friday 12th July 2019
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