Abstract
INTRODUCTION
Home medical equipment (HME) is a multibillion dollar market that is poised
for rapid growth as the population ages and as growing number of older people
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 health care market are
reinforced by such trends as the rising cost of institutional care, and a
growing receptivity to home health care among physicians and private and
public insurers.
SCOPE OF STUDY
This report contains:
- Descriptions of the main types of home medical equipment (HME) that have
been commercialized to date including assistive devices, therapeutic devices,
monitors, sensors and telemetry devices
- The current market status of HME, trends and forecasts for growth over the
next 5 years
- A discussion of novel technologies along with a thorough patent analysis
- An evaluation of regulatory factors that will drive future demand in the
industry
- Information about major manufacturers and distributors of HME.
INFORMATION SOURCES
The findings and conclusions of this report are based on information gathered
from manufacturers and distributors of HME, multi-lateral and government
agencies, care givers, insurance companies, and other knowledgeable sources.
Interview data were combined with information gathered through an extensive
review of secondary sources such as trade publications, trade associations,
company literature, and on-line databases to produce the baseline market
estimates contained in this report.
The base-year for analysis and projection is 2006. With 2006 as a baseline,
market projections were developed for 2007 to 2012. These projections are
based on a combination of a consensus among the primary contacts combined with
our understanding of the key market drivers and their impact from a historical
and analytical perspective. The analytical methodologies used to generate the
market estimates are described in detail in the section on Detailed Market
Projections.
All dollar projections presented in this report are in 2006 constant dollars.
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