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World Home Medical Equipment Market

NEW YORK, March 21, 2013 /PRNewswire/ -- announces that a new market research report is available in its catalogue:

World Home Medical Equipment Market

World demand to rise 7% annually through 2016

World demand for home medical equipment is forecast to rise 7.0 percent yearly to $28 billion in 2016. The United States will remain the largest market globally based on its extensive network of home health care providers, high health care spending intensity, widespread insurance coverage for the treatment and management of chronic diseases, and shifting patient care strategies toward home settings. The BRIC countries ( Brazil, Russia, India, and China) will be among the fastest growing worldwide markets for home medical equipment as greater economic prosperity boosts the level of third-party and direct consumer payments applied to health care. In these countries, home health care activity will rise rapidly due to cost saving advantages and ongoing shortages in the availability and accessibility of professional medical providers.

Home medical equipment markets in Western Europe, Canada, Australia, Japan, South Korea, and other developed countries will provide demand for a complete range of therapeutic, support, and monitoring products with per capita sales levels of all three groups staying comparatively high. However, overall growth in most of these markets will decelerate and will remain below the average worldwide pace as national health insurance plans impose tighter controls on benefit coverage and product reimbursement rates. By contrast, home medical equipment demand in the vast majority of developing countries will increase well above the global average as health care markets expand with improving economic growth. Less favorably, affluent residents covered by private health insurance or able to afford direct payments will account for most sales in these countries.

Home therapeutic equipment to offer best opportunities

On balance, worldwide consumption patterns for various types of home medical equipment will follow evolving demographic and epidemiological trends. A heightened prevalence of chronic conditions, especially respiratory disorders, kidney failure and cancer, will boost global demand for home therapeutic equipment 7.5 percent annually to $17.3 billion in 2016. Portable oxygen concentrators for treating chronic obstructive pulmonary disease (COPD), continuous positive airway products (CPAP) for managing obstructive sleep apnea, and ventilators and accessories for alleviating severe breathing impairments will account for the fastest sales growth among home respiratory therapy equipment.

Advances in the ease of use and convenience features of dialysate machines, coupled with a greater number of patients with end-stage kidney failure, will create fast rising worldwide demand for home dialysis products. The global home IV equipment market will see strong upward momentum as shorter hospital stays and tighter controls on outpatient visits lead to a greater number of cancer and other chronic care patients to receive parenteral nutritional and other therapies at home.

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