US Demand for Home Medical Equipment to Exceed $10 Billion

US demand for home medical equipment is forecast to increase 5.5 percent annually to over $10 billion in 2012.  Cost-saving products that reduce the need to treat or monitor chronically ill patients in hospitals, skilled nursing facilities and specialized clinics will command strong growth opportunities.  Included in this group are CPAP machines and accessories, peritoneal dialysis equipment, IV pumps, ventilators and accessories, and blood pressure monitors.  Mobility devices, medical furniture and home safety equipment that enable elderly and disabled persons to live independently without extensive caregiver support will continue to form sizeable markets.  These and other trends, including market share and product segmentation, are presented in Home Medical Equipment, a new study from The Freedonia Group, Inc., a Cleveland-based industry research firm.

An increasing prevalence of chronic conditions, especially respiratory disorders, kidney failure and cancer, will boost demand for home therapeutic equipment 6.2 percent annually through 2012.  Portable oxygen concentrators for treating chronic obstructive pulmonary disease (COPD), CPAP products for managing obstructive sleep apnea, and ventilators and accessories for alleviating severe breathing impairments will provide the best growth opportunities for home respiratory therapy equipment. 

Demand for home patient monitoring equipment will increase 5.6 percent annually to $1.8 billion in 2012.  This product segment will see mixed growth opportunities as markets for products such as electronic thermometers and Holter monitors are approaching the saturation stage.  Monitors for blood pressure, coagulation, heart rate, sleep apnea and general physiological parameters, along with home alert systems, will fare better in the marketplace based on trends promoting the expansion of preventive medicine activities.

A significant share of the demand posted by home medical equipment will remain in mobility assist devices.  Strong growth in the elderly population will create opportunities for both personal and household products that help orthopedically impaired individuals maintain independent lifestyles.  As a result, bathroom safety products, home medical furniture, powered scooters, rollators, and canes will build up attractive niches in the home health care marketplace.

The Freedonia Group is a leading international business research company, founded in 1985, that publishes more than 100 industry research studies annually. This industry analysis provides an unbiased outlook and a reliable assessment of an industry and includes product segmentation and demand forecasts, industry trends, demand history, threats and opportunities, competitive strategies, market share determinations and company profiles.