Abstract
US market to approach $8 billion in 2012
The US market for home medical equipment is forecast to increase nearly six
percent annually to $7.9 billion in 2012. Growth opportunities will be divided
among several groups of therapeutic and patient support products. Respiratory
therapy equipment will remain the topselling product group based on the
increasing prevalence of chronic obstructive pulmonary disease (COPD) and
other conditions that cause breathing difficulties. Ongoing improvements in
performance and portability features, coupled with widespread insurance
coverage, will broaden the use of breathing-assist devices -- such as oxygen
concentrators, liquid oxygen tanks and continuous positive airway pressure
(CPAP) machines -- among home patients.
Home mobility devices demand to remain strong
Home mobility devices -- including wheelchairs, scooters, specialized lifts,
canes and walkers -- will continue to see robust demand as aging demographic
patterns lead to an increasing prevalence of orthopedic impairments. Upward
trends in the number of orthopedic patients will also benefit growth
opportunities for medical furniture and bathroom safety products. Efforts to
control escalating health care costs will promote the transfer of IV drug
delivery and dialysis procedures from medical facilities to patient homes,
impacting favorably on home sales of IV pumps and accessories and peritoneal
dialysis devices.
An increasing emphasis on preventive medicine will broaden the home health
care market for numerous patient monitors. Based on number of potential
patients and potential to reduce health complications, monitors for blood
glucose, blood pressure, and heart and respiratory functions will continue to
post the largest demand. Additionally, home alert systems will form an
attractive, rapidly growing niche in the marketplace as they enable most
elderly individuals to live independently without direct supervised care.
More distribution channels, technology to support gains
Advances in
technology, coupled with the expansion of distribution channels, represent two
additional factors that will contribute to growth opportunities for home
medical equipment. Advances in technology will increase the range of
therapeutic and patient support equipment available for home applications. The
diversification of medical facilities and retail establishments -- such as
drug stores and mass merchandisers -- into home health care services is
expanding the accessibility of home medical equipment to a widening percentage
of the population.
Study coverage
This new Freedonia industry study, Home Medical Equipment, presents
historical demand data (1997, 2002 and 2007) plus forecasts for 2012 and 2017
by product type. The study also assesses key market environment factors,
evaluates company market share and profiles 34 competitors in the US industry.
Freedonia's methods involve:
- Establishing consistent economic and market forecasts
- Using input/output ratios, flow charts and other economic methods to quantify data
- Employing in-house analysts who meet stringent quality standards
- Interviewing key industry participants, experts and end users
- Researching a proprietary database that includes trade publications, government reports and corporate literature
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