World Demand for Home Medical Equipment to Reach $28 Billion in 2016
World demand for home medical equipment is projected to increase 7.0 percent annually 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, and shifting patient care strategies toward home settings. The large developing countries of Brazil, China, India, and Russia will be among the fastest growing worldwide markets for home medical equipment as increasing economic prosperity boosts the level of third-party and direct consumer payments applied to health care. In these countries, home health care activity will expand rapidly due to cost saving advantages and ongoing shortages in professional medical providers. These and other trends, including market share and product segmentation, are presented in World Home Medical Equipment, a new study from The Freedonia Group, Inc., a Cleveland-based industry market research firm.