ALBANY, N.Y., June 13, 2013—As reported by PR.com, analysis by Transparency Market Research shows that the global home medical equipment consumption pattern will depend on demographic and epidemiological development. Increased efforts in the fight against chronic illnesses such as respiratory diseases, kidney disorders and cancer will boost the demand for home therapeutic devices. Products such as portable oxygen concentrators, continuous positive airway products, ventilators and other accessories will undergo the fastest growth in sales in this market. Increasing numbers of baby boomers and an increase in the population of aged people on a global scale will also assist in the growth of this market.
Development in the convenience in handling and usage of this equipment due to the increase in chronically ill patients will create a rapid increase in demand. The home IV devices segment will also experience upward growth as intense control in outpatient visits and shorter hospital stays will lead to an increase in the number of cancer and other chronic disease patients to be administered parenteral nutrition, and other therapeutic modalities at home.
It is estimated that the U.S. will be the largest market for home medical equipment owing to its wide base of home healthcare equipment providers, good reimbursement policies, better healthcare infrastructure and high healthcare expenditure. Moreover, the recent changes in the healthcare industry due to “Obamacare” will also boost the demand for such equipment since almost 30 million uninsured Americans will now enjoy medical coverage.
Emerging economies such as the BRIC countries will be the fastest growing market for such products as the economic condition of such countries is rapidly improving. On the other hand, the already developed markets of Europe, Canada, Japan, Australia and South Korea will show fair demand for therapeutic, monitoring and support products as the sales levels in these markets will rise.
The report is a complete study of current trends in the market, industry growth drivers, and restraints. It provides market projections for the coming years. It includes analysis of recent developments in technology, Porter’s five force model analysis and detailed profiles of top industry players. The report also includes a review of micro and macro factors essential for the existing market players and new entrants along with detailed value chain analysis. To learn more about “Home Medical Equipment Market—Global Industry Analysis, Size, Share, Growth, Trends And Forecast, 2012-2018” go to www.transparencymarketresearch.com.