US demand for home medical equipment is forecast to grow 8.2 percent annually to $12.6 billion in 2018. Advances in the technological capabilities of products such as portable oxygen concentrators, remote telemedicine systems, and home dialysis machines will underlie growth. The introduction of new and improved devices and equipment will expand the number of medical conditions and patients adaptable to effective home treatment, management, and monitoring. Cost saving advantages will promote the increasing substitution of home health care for hospital, ambulatory, and nursing home procedures whenever feasible.
Among all types of home medical equipment, remote monitoring and realtime systems based on telemedicine technology will generate the fastest revenue growth as physicians, hospitals and other medical providers are pressured by health insurers to become more accountable for improving patient outcomes and controlling treatment costs. By contrast, demand for conventional patient monitors will expand at a below average pace due to competition from telemedicine devices.
A rising prevalence of chronic conditions, especially respiratory disorders, kidney failure, and cancer, will boost demand for home therapeutic equipment -- the dominant product segment -- up at a strong annual pace through 2018. Portable oxygen concentrators for treating chronic obstructive pulmonary disease (COPD), continuous positive airway pressure (CPAP) products for managing obstructive sleep apnea, and ventilators and accessories for alleviating severe breathing impairments will exhibit the fastest growing sales among home respiratory therapy equipment. Demand for dialysis equipment will expand at a strong double digit pace, spurred by the increasing availability of portable dialysate delivery machines as well as by upward trends in the incidence of end-stage renal disease. By contrast, the market for IV equipment will rise well below the average pace of home medical equipment due to multiple supplier availability, intensifying pricing pressures, and advances in alternative oral, inhalation, and topical drug therapies. Automated external defibrillators, negative pressure wound therapy products, and muscle and nerve stimulators will see the fastest growth in demand value among other home therapeutic equipment as home health care providers assume an expanding role in preventive medicine, the healing of major wounds, and overall pain management.
Demand for mobility assist and other home patient support equipment is forecast to increase at a below average annual pace through 2018. Wheelchairs will continue to dominate revenues as aging population trends lead to a rising incidence of activity-limiting orthopedic impairments. However, home medical furniture and bathroom safety products will post faster growth in demand as an increasing number of elderly and disabled individuals adapt their residences to home health care treatment to avoid transfer to nursing homes or assisted living facilities.
This studyp resents historical demand data for 2003, 2008 and 2013, plus forecasts for 2018 and 2023 by equipment type. The study also considers market environment factors, evaluates company market share and profiles 30 industry players such as Royal Philips Electronics, Res- Med and Invacare.
TABLE OF CONTENTS
TABLE OF CONTENTS SECTION PAGE INTRODUCTION x I. EXECUTIVE SUMMARY 1 II. MARKET ENVIRONMENT 4 General 4 Macroeconomic Trends 5 Demographic Patterns 9 Trends in Health Care 13 Health Insurance & the Affordable Care Act 14 Medical Conditions 17 Acute Conditions 17 Chronic Conditions 19 National Health Expenditures 22 Spending Categories 23 Funding Sources 27 Medical Providers 29 Patient Activity 35 Medical Product Demand 39 III. PRODUCT OVERVIEW 41 General 41 Patient Trends & Projections 42 Regulation 43 Home Medical Equipment Market 44 Historical Market Trends 47 US Trade 48 International Markets 50 IV. THERAPEUTIC EQUIPMENT 54 General 54 Home Respiratory Therapy Equipment 56 Continuous Positive Airway Pressure Equipment 58 CPAP Machines 60 CPAP Masks & Related Interfaces 62 CPAP Accessories 64 Oxygen Delivery Equipment 65 Oxygen Concentrators 67 Oxygen Cannula 69 Home Liquid Oxygen Containers 70 Other Home Oxygen Delivery Equipment 71 Nebulizers & Accessories 74 Ventilators & Accessories 75 Humidifiers 77 Home Dialysis Equipment 80 Home Peritoneal Dialysis Products 81 Home Hemodialysis Products 84 Home IV Equipment 88 IV Administration Sets 89 IV Pumps 92 Home IV Accessories 95 Other Home Therapeutic Equipment 96 Home Physical Therapy Equipment 97 Home Negative Pressure Wound Therapy Devices 97 Home Braces & Related Products 99 Home Enteral Feeding Products 101 Home Automated External Defibrillators 102 Home Muscle & Nerve Stimulators 104 V. PATIENT MONITORING EQUIPMENT 106 General 106 Conventional Monitors 108 Blood Glucose Monitors 109 Blood Pressure Monitors 111 Holter Monitors 113 Peak Flow Meters 115 Apnea Monitors 117 Heart Rate Monitors 120 Baby Monitors 121 Electronic Thermometers 123 Coagulation Monitors 125 Telemedicine Patient Monitoring Systems 127 Remote Patient Monitoring Systems 128 Real-Time Telemedicine Systems 129 VI. MOBILITY ASSIST & OTHER PATIENT SUPPORT EQUIPMENT 131 General 131 Mobility Assist Equipment 133 Wheelchairs 134 Manual Wheelchairs 136 Powered Wheelchairs 140 Mobility Scooters 143 Walking Assist Devices 146 Walkers & Rollators 147 Canes & Walking Sticks 149 Crutches 150 Medical Furniture 152 Lift Chairs 154 Medical Beds 156 Stair Lifts 158 Medical Furniture Accessories 160 Bed Rails 161 Decubitus Products 162 Bed Mattresses 163 Overbed Tables 164 Trapeze Bars 164 Bathroom Safety Equipment 165 Bars, Grips, & Rails 166 Shower Chairs 168 Elevated Toilet Seats 169 Commodes 171 VII. INDUSTRY STRUCTURE 173 General 173 Market Share 177 Home Therapeutic Equipment 179 Home Patient Monitoring Equipment 181 Mobility Assist & Other Home Patient Support Equipment 182 Competitive Strategies 183 Mergers & Acquisitions 184 Licensing & Related Agreements 187 Product Development 189 Marketing & Distribution 190 Manufacturing 191 Company Profiles 192 Abbott Laboratories 193 Animas, see Johnson & Johnson ARKRAY Incorporated 195 Baxter International Incorporated 196 Bayer AG 199 Braun (B.) Melsungen AG 202 CareFusion Corporation 204 CHAD Therapeutics, see Drive Medical Design & Manufacturing Children’s Medical Ventures, see Royal Philips ConvaTec Incorporated 207 Cooper Companies Incorporated 209 Covidien plc 210 DeVilbiss Healthcare LLC 212 Drive Medical Design & Manufacturing 215 Fresenius Medical Care AG & Company KGaA 220 Gambro, see Baxter International GE Healthcare, see General Electric General Electric Company 223 GF Health Products Incorporated 225 HHD, see Baxter International Hill-Rom Holdings Incorporated 230 Hospira Incorporated 233 Invacare Corporation 235 Johnson & Johnson 241 Liberty Dialysis Holdings, see Fresenius Medical Care Lifeline Systems, see Royal Philips LifeScan, see Johnson & Johnson Liko, see Hill-Rom Holdings Lumiscope, see GF Health Products Mason Medical Products, see Drive Medical Design & Manufacturing Medline Industries Incorporated 244 Medtronic Incorporated 248 Newport Medical Instruments, see Covidien NxStage Medical Incorporated 251 OMRON Corporation 253 Permobil AB 255 Pressure Management Group, see GF Health Products ResMed Corporation 257 Respironics, see Royal Philips Roche Holding Limited 261 Royal Philips NV 263 Stryker Corporation 268 Sunrise Medical GmbH & Company KG 270 Teleflex Incorporated 274 Unomedical, see ConvaTec Verizon Communications Incorporated 276 Vital Signs, see CareFusion Wallach Surgical Devices, see Cooper Companies Additional Companies Mentioned in the Study 278 LIST OF TABLES TABLE NUMBER PAGE SECTION I -- EXECUTIVE SUMMARY Summary Table 3 SECTION II -- MARKET ENVIRONMENT 1 Macroeconomic Indicators 9 2 Population & Demographics 13 3 Health Insurance Coverage of the US Population, 2003-2013 17 4 Acute Conditions 19 5 Chronic Conditions 22 6 National Health Expenditures by Type 26 7 National Health Expenditures by Funding Source 29 8 Medical Providers 31 9 Patient Activity 37 10 Medical Product Demand 40 SECTION III -- PRODUCT OVERVIEW 1 Home Health Care Patients by Age Group 43 2 Home Medical Equipment Demand by Product Group 46 3 Home Medical Equipment Demand, 2003-2013 48 4 US Trade in Home Medical Equipment 49 5 World Home Medical Equipment Demand by Region 52 SECTION IV -- THERAPEUTIC EQUIPMENT 1 Home Therapeutic Equipment Demand 55 2 Home Respiratory Therapy Equipment Demand 58 3 Home Continuous Positive Airway Pressure (CPAP) Equipment Demand 60 4 Home Continuous Positive Airway Pressure (CPAP) Machine Demand 62 5 Home Continuous Positive Airway Pressure (CPAP) Mask & Related Interface Demand 64 6 Continuous Positive Airway Pressure (CPAP) Accessories Demand 65 7 Home Oxygen Delivery Equipment Demand 66 8 Home Oxygen Concentrator Demand 69 9 Home Oxygen Cannula Demand 70 10 Home Liquid Oxygen Container Demand 71 11 Other Home Oxygen Delivery Equipment Demand 73 12 Home Nebulizer & Accessories Demand 75 13 Home Medical Ventilator & Accessories Demand 77 14 Home Medical Humidifier Demand 79 15 Home Dialysis Equipment Demand 81 16 Home Peritoneal Dialysis Product Demand 84 17 Home Hemodialysis Product Demand 88 18 Home IV Equipment Demand 89 19 Home IV Administration Set Demand 92 20 Home IV Pump Demand 94 21 Home IV Accessories Demand 95 22 Other Home Therapeutic Equipment Demand 96 23 Home Physical Therapy Equipment Demand 97 24 Home Negative Pressure Wound Therapy Device Demand 99 25 Home Brace & Related Product Demand 100 26 Home Enteral Feeding Product Demand 102 27 Home Automated External Defibrillator Demand 103 28 Home Muscle & Nerve Stimulator Demand 105 SECTION V -- PATIENT MONITORING EQUIPMENT 1 Home Patient Monitoring Equipment Demand 107 2 Conventional Home Patient Monitor Demand 109 3 Home Blood Glucose Monitor Demand 111 4 Home Blood Pressure Monitor Demand 113 5 Home Holter Monitor Demand 115 6 Home Peak Flow Meter Demand 117 7 Home Apnea Monitor Demand 119 8 Home Heart Rate Monitor Demand 121 9 Home Baby Monitor Demand 123 10 Home Electronic Thermometer Demand 125 11 Home Coagulation Monitor Demand 126 12 Home Telemedicine Patient Monitoring System Demand 127 SECTION VI -- MOBILITY ASSIST & OTHER PATIENT SUPPORT EQUIPMENT 1 Mobility Assist & Other Patient Support Equipment Demand 132 2 Mobility Assist Equipment Demand 134 3 Wheelchair Demand 135 4 Manual Wheelchair Demand 136 5 Powered Wheelchair Demand 141 6 Mobility Scooter Demand 145 7 Walking Assist Device Demand 146 8 Walker & Rollator Demand 148 9 Cane & Walking Stick Demand 150 10 Home Crutch Demand 152 11 Home Medical Furniture Demand 154 12 Home Lift Chair Demand 156 13 Home Medical Bed Demand 158 14 Home Stair Lift Demand 160 15 Home Medical Furniture Accessories Demand 161 16 Home Bathroom Safety Equipment Demand 166 17 Bathroom Bar, Grip, & Rail Demand 167 18 Home Shower Chair Demand 169 19 Home Elevated Toilet Seat Demand 170 20 Home Commode Demand 172 SECTION VII -- INDUSTRY STRUCTURE 1 US Home Medical Equipment Sales by Company, 2013 174 2 Selected Acquisitions & Divestitures 186 3 Selected Cooperative Agreements 188 LIST OF CHARTS CHART NUMBER PAGE SECTION III -- PRODUCT OVERVIEW 1 Home Medical Equipment Demand by Product Group, 2013 46 2 World Home Medical Equipment Demand by Region, 2013 53 SECTION IV -- THERAPEUTIC EQUIPMENT 1 Home Therapeutic Equipment Demand, 2013 56 SECTION V -- PATIENT MONITORING EQUIPMENT 1 Home Patient Monitoring Equipment Demand, 2013 108 SECTION VI -- MOBILITY ASSIST & OTHER PATIENT SUPPORT EQUIPMENT 1 Mobility Assist & Other Patient Support Equipment Demand, 2013 133 SECTION VII -- INDUSTRY STRUCTURE 1 Home Medical Equipment Market Share, 2013 179 2 Home Therapeutic Equipment Market Share, 2013 180 3 Home Patient Monitoring Equipment Market Share, 2013 182 4 Mobility Assist & Other Home Patient Support Equipment Market Share, 2013 183