Global Market for Home Medical Equipment to Reach $26.2 Billion in 2016
The home medical equipment market can be broken down into three segments: therapeutic devices; assistive devices; and monitors, sensors, and telemetry devices.
The therapeutic devices segment accounted for nearly $8.8 billion in 2011 and is expected to increase at a CAGR of 7.7% to reach nearly $12.8 billion in 2016.
The assistive devices segment accounted for $5.4 billion in 2011 and is expected to increase at a CAGR of 1.7% to reach $5.9 billion in 2016.
The segment made up of monitors, sensors, and telemetry devices was worth $4.7 billion in 2011, and by 2016, the segment should be worth $7.5 billion, a CAGR of 9.8%.
Home medical equipment (HME) is a multibillion-dollar market. It has continued to evolve as populations age and a growing number of older people wish and are financially able to live in their own homes for as long as possible, rather than going into a nursing home or other institutional care facility. These demographic and attitudinal shifts in the healthcare market are reinforced by technological developments such as wireless home monitoring, and economic trends, such as the rising cost of institutional care, and a growing receptivity to home healthcare among physicians and private and public insurers.
Among the various diseases managed or treated with HME, diabetes accounted for the largest share (38.9%) of the global HME market in 2010. Motion impairments and obesity had the second-largest market share (29.8%), followed by asthma and other respiratory conditions (9.1%), sleep disorders (9%) and hypertension (5.5%).
The report has been written for the entire medical and healthcare interest community, but it is tailored especially for readers with an interest in the marketing and management dimensions of home medical equipment, such as manufacturers and distributors of HME, regulators, health insurers, investors, and the financial and analyst community.
In addition to HLC054C, BCC also has published HLC119A, HLC120A, HLC121A, HLC122A, and HLC123A. These reports cover home medical equipment with focuses, respectively, on the North America, European Union, Japan, BRIC (Brazil, Russia, India, China), and emerging market countries.