Home Medical Equipment Market to Reach $7.9 Billion in 2012
Feb 9, 2009
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The U.S. market for home medical equipment will grow nearly 6% annually to reach $7.9 billion by 2012. The report Home Medical Equipment Market in the US, from Reportlinker.com, says that growth opportunities will be divided among several groups of therapeutic and patient support products.
Respiratory therapy equipment will remain the top-selling 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 by home patients. This category includes oxygen concentrators, liquid oxygen tanks, and continuous positive airway pressure (CPAP) machines.
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," the report says. "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."
Advances in technology, coupled with the expansion of distribution channels, are 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 report says. "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."
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