New Report Says Global Market For Home Medical Equipment To Touch $20.4 billion by 2012

Dec. 18, 2007 - PRLog -- Report Buyer, the online destination for business intelligence for major industry sectors, has added a new report which forecasts that the global market for home medical equipment (HME) is expected to increase to 20.4 billion in the next five years. The report says that this market is expected to show a compound average annual growth rate (CAGR) of 6.8%.

The Home Medical Equipment Market (http://www.reportbuyer.com/go/BCC00168) comprises various segments such as the applications of assistive devices, therapeutic devices, and monitors, sensors and telemetry devices. The study says that the monitors, sensors and telemetry devices segment is the largest market share holder, propped up by large number of home blood glucose testers. The publication finds that this segment was worth an estimated $7 billion in 2007 and that it is expected to reach $8.9 billion by 2012.

Authors of the report say that the fastest growing segment is the market for therapeutic devices which is predicted to show a CAGR of 13.4% between 2007 and 2012. This will result in a steep growth in this segment’s global HME market share from one-quarter to over one-third in the next five years, they say.

The study says that the assistive devices segment, which is worth an estimated $3.7 billion this year, is expected to increase at a CAGR of 1.7% to reach $4 billion by 2012.

Analysts say that the U.S and Canada together form the largest geographical market
for HME with 34.2% of the global market in 2006. They are closely followed by the EU, which accounts for 28.9. They forecast that the U.S./Canadian market is growing faster than any other major geographical market segment, and has a projected growth rate of 8.6% to 2012.

As a result, the U.S. and Canada are projected to increase their market share from 34.2% to 37.8% in 2012.  These gains will come at the expense of the other major geographical markets, all of which are projected to lose market share between 2006 and 2012.

“The Home Medical Equipment Market” is available from Report Buyer. For more information go to:
http://www.reportbuyer.com/pharma_healthcare/medical_devi...

Report Buyer product ID: BCC00168

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