Hope hermitage, Koninklijke Philips N.V. and Medtronic are Dominating in the Nepal Elderly Care Market in 2019

Nepal Elderly Care Market is expected to grow with the CAGR of 1.9% in the forecast period of 2020 to 2027. The years considered for study are as mentioned below.

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Nepal elderly care market is a highly consolidated market, which includes specific number of key players. The market has witnessed increased strategic developments owing to favourable elderly care market scenario.

The major players dealing in Nepal elderly care market are introducing strong range of products provider along with launching new services and adopting strategic initiatives such as acquisition, agreement, business expansion, award and recognition into the elderly care market. This helped companies to maximize the sales with enhanced service portfolio. For instance, in November 2017, Koninklijke Philips N.V. has expanded its healthcare home services sector which is involved in providing extensive services and high-quality health care facilities at home. This expansion has led to an increase in patient base in both non-chronic and chronic care segments. This new area of services also involved post-operative care, drug infusion therapies, elderly care among others. With this expansion, the company has increased its customer base as well as enhanced their revenue generation.

Hope Hermiatge is the dominating player in global radiotherapy market. The other key players existing in the radiotherapy market includes Orchid Care Home, Koninklijke Philips N.V. and Medtronic among others.

Hope Hermiatge:

Hope Hermiatge is headquartered in Kathmandu, Nepal was founded in 2017. The major focus of the company is to promote the well-being of senior citizens and help them in motivation and recreational activities. The company deals in multiple services such as assisted living home, alzihmers's and related dementia care centre, day care centre, in-home caregiver and recreational activities out of which assisted living home, day care centre, in-home care giver and recreational activities are the market focused services.

The company has presence in Nepal.

Koninklijke Philips N.V.:

Koninklijke Philips N.V. is headquartered in Amsterdam, Netherlands was founded in 1891. The company focuses on improving people health and enabling better outcomes across the health continuum from healthy living and prevention, to diagnosis, treatment and home care. The company has various business segments such as diagnosis & treatment businesses, personal health businesses, connected care & health and other among which connected care & health is the market focused segment. The company deals in multiple services such as ICU at home, nurse at home, and palliative care at home.

For instance,

  • In January 2019, Koninklijke Philips N.V. has launched an app-based hub for its senior caretaking products. This new app platform being incorporated by the company leads to an enhancement of company’s senior care products into a single digital ecosystem for family caretakers. With this product launch, the company has enhanced their product which ultimately leads in increase in customer base.

The company has presence in North America, South America, Europe, Asia-Pacific, and Middle East and Africa. The company has various subsidiaries that are Philips GmbH (Germany), Philips Consumer Lifestyle B.V. (The Netherlands), Philips Medical Systems Nederland B.V. (The Netherlands), Philips Ultrasound, Inc. (U.S.), Philips Oral Healthcare, LLC (U.S.) among others.

Medtronic:

Medtronic is headquartered in Dublin, Ireland was founded in 1949. The company develops and manufactures the wide range of products and therapies including implantable mechanical devices, drug & biologic delivery devices, and advanced energy surgical instruments. The company has various business segments such as cardiac and vascular group, minimally invasive therapies group, restorative therapies group and diabetes group among which minimally invasive therapies group is the market focused segment. The company deals in multiple products under categories such as patient & caregiver and healthcare professionals out of which healthcare professionals is the market focused categories.

The company has presence in North America, South America, Europe, Asia-Pacific, and Middle East and Africa. The company has various subsidiaries that are Covidien (Irish), Corventis, Inc. (U.S.), TyRx Pharma Inc. (U.S.), ATS Medical (U.S.), Given Imaging (Israel) and United States Surgical Corporation (U.S.) among others.