The global market for home medical equipment (HME) reached $17.9 billion in
2010 and $18.9 bill ion in 2011. It is expected to grow to $26.2 billion by
2016, a compound annual growth rate (CAGR) of 6.7%.
The BRIC countries were the third largest geographical market; with a 14.3%
global market share in 2010. The BRIC market for HME was worth almost $2.6
billion in 2010 and more than $2.7 billion in 2011. By 2016, the market is
projected to exceed $3.7 billion, a CAGR of 6.6% between 2011 and 2016.
The BRIC market for home assistive devices such as wheelchairs, scooters and
home care beds was valued at nearly $1.28 billion in 2010. BCC projects that
this market will grow to almost $1.3 billion in 2011 and $1.42 billion by
2016, a CAGR of 1.9% between 2011 and 2016.
Home medical equipment (HME) is a multibillion-dollar market. Since BCC
published its last study of the HME market in 2010, the market has continued
to evolve, as populations age and a growing number of older people wish and
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 technological developments such as wireless home monitoring, and
economic trends, like the rising cost of institutional care and a growing
receptivity to home health care among physicians and private and public
Since the prior research study was published, the market has continued to
evolve, due to factors such as an aging population, increased incidence of
heart disease and other conditions requiring close patient monitoring and
technological developments such as wireless remote monitoring.
These trends are global, at least in advanced industrial nations. However,
most published analyses of the HME market focus on the U.S. market. Since
U.S. medical equipment manufacturers are among the largest suppliers to the
global health care market, they need to gain the most detailed understanding
of international markets for their products, including HME.
STUDY GOALS AND OBJECTIVES
This report is intended to provide an objective, quantitative analysis that
addresses the global market for HME in the context of technological change and
an evolving market. More specific objectives are to
- Identify and segment the main types of HME that have been commercialized
- Analyze the historical and current value of shipments of each of these
product segments in specified applications, end-user and geographical markets.
- Identify and evaluate the impact of demographic, technological, regulatory
and other factors that will drive future demand in each of these segments.
- Forecast the value of future shipments in each segment.
- Identify promising new technologies and products still in the development
and testing stage that are likely to be commercialized successfully in the
next five years.
- Identify leading HME vendors.
The report has been written for the entire medical and health care interest
community, but it is tailored especially for readers with an interest in the
marketing and management dimensions of home medical equipment, such as
- Manufacturers and distributors of HME.
- Regulators and health insurers.
- The financial and analyst community.
SCOPE AND FORMAT
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.
METHODOLOGY AND INFORMATION SOURCES
This study was prepared using both primary and secondary research
methodologies. The findings and conclusions of this report are based on
information gathered from manufacturers and distributors of HME, multilateral
and government agencies, caregivers, 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 online databases to
produce the baseline market estimates contained in this report.
The base year for analysis and projection is 2010. With 2010 as a baseline,
market projections were developed for 2011 to 2016. These projections are
based on a combination of a consensus among primary research sources and our
understanding of 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 titled Detailed Market
All dollar projections presented in this report are in 2010 constant dollars.
The author of this report is Andrew McWilliams. Mr. McWilliams is a partner
in the Boston-based international technology and marketing consulting firm,
43rd Parallel LLC. In addition to being the author of the previous (2007 and
2010) editions of this report, Mr. McWilliams is the author of several other
Business Communications Company studies of health care and related industries.
These include HLC016D Microelectronic Medical Implants: Products, Technologies
and Opportunities; HLC036D Medical Robotics and Computer-assisted Surgery: The
Global Market; HLC038C Patient Monitoring; HLC047C Disabled and Elderly
Assistive Technologies; HLC051F The Market for Minimally Invasive Medical
Devices; HLC070A Preventive Healthcare Technologies, Products and Markets; and
AVM050B Smart and Interactive Textiles.