Global Markets and Technologies for Home Medical Equipment
The global market for home medical equipment (HME) was worth $17.9 billion in 2010, nearly $19 billion in 2011, and is expected to reach $26.2 billion by 2016, a CAGR of 6.7%.
This report is an analytical business tool whose primary purpose is to describe and analyze the dynamics of the global market for home medical equipment. Home medical equipment is defined as durable equipment (i.e., equipment with an expected service life of at least three years) that:
- Can withstand repeated use.
- Is primarily and customarily used to serve a medical purpose.
- Generally is not useful to a person in the absence of an illness or injury.
- Is not implanted inside the patient’s body.
- Is appropriate for use in the home.
- Does not require a trained medical professional to operate.
- Usually requires a doctor’s prescription to buy (e.g., excludes most canes, walkers and other elderly and disabled assistive devices).
- Generally does not include drugs and other consumables.
While the report’s coverage is global, it focuses on selected international markets for HME, including:
- North America (United States, Canada).
- European Union (France, Germany, Italy, U.K., other European countries).
- BRIC nations (Brazil, Russia, India, China).
- Rest of the world.
The report includes sections on the following topics:
- Major product types and applications, both commercial and developmental.
- Market size and segmentation, including historical data on sales by product type and geographical market.
- Market drivers and constraints.
- Detailed market projections through 2016.
- Patent analysis.
- Competitor profiles.
Andrew McWilliams spent more than 25 years as a consultant with Ernst & Young, McKinsey & Company and A.T. Kearny focused on manufacturing before segueing into research analysis. He has been covering myriad technology categories for BCC Research for more than 15 years. McWilliams has a BA from Princeton University and an MA from Harvard University. He has worked in more than 40 countries and he resides in the greater Boston area.
The global market for home medical equipment (HME) was worth about $16.8 billion in 2009. BCC expects the HME market to grow to $17.7 billion in 2010 and $23.8 billion by 2015, a CAGR of 6.1% over the next 5 years.
The market for therapeutic HME as a group is the fastest growing segment; their share of the total global HME market is expected to increase from about 23% to 28% by 2015. Therapeutic HME was valued at $3.9 billion in 2009 and $4.3 billion in 2010 and will be worth an estimated $6.7 billion by 2015, a compound annual growth rate (CAGR) of 9.3%.
Monitors, sensors, and telemetry devices account for the largest share of the HME market, mainly because of the very large market for home blood glucose testers. This segment was worth $7.7 billion in 2009 and $8 billion in 2010. By 2015, this sector will be worth an estimated $11.3 billion, a compound annual growth rate (CAGR) of 7%.
The global home medical equipment market increased from about $13.9 billion in 2006 to an estimated $14.6 billion in 2007. It should reach $20.4 billion by 2012, a compound annual growth rate (CAGR) of 6.8%.
The United States and Canada together form the largest geographical market for HME, i.e, 34.2% of the global market.
Among the various diseases managed or treated with HME, diabetes accounts for the largest share (i.e., 46.2% in 2006) of the global HME market.