Companies & Markets: Global Home Healthcare Equipment Market Forecast to Increase at a CAGR of 6 per cent During the Period 2010-2017
The global home healthcare equipment market was valued at $32.6 billion in 2010 and is forecast to grow to $47.9 billion by 2017, at a compound annual growth rate (CAGR) of 6% during the period 2010-2017. The global home healthcare equipment market is forecast to be driven by a growing focus on reducing healthcare expenditure and reducing the burden on the healthcare system by self-monitoring of chronic conditions. The growth in the market will be further stimulated by reimbursement reforms and the increasingly aging population in developed nations. In developing countries, the major drivers for home healthcare equipment are the increasing incidence of chronic diseases such as asthma, chronic obstructive pulmonary disease (COPD) and diabetes, along with growing affordability and awareness.
GlaxoSmithKline and F. Hoffmann-La Roche Ltd. (Roche) Dominate the Global Home Healthcare Equipment Market. GlaxoSmithKline and F. Hoffmann-La Roche Ltd. (Roche) were key companies in the global home healthcare equipment market in 2009. GlaxoSmithKline was the market leader and accounted for 10% of the overall market in 2009. GlaxoSmithKline has a wide portfolio in metered dose inhalers and dry powder inhalers and is also a market leader in the inhalation systems sector. Roche accounted for an 8% share of the market.
The global market for home healthcare is quite fragmented, due to the presence of a number of small players, which account for nearly 60% of the total market. Markets such as inhalation systems are dominated by generic players. However, due to technological advances such as introduction of hydro-fluoro alkane (HFA), the market for metered dose inhalers (MDIs) is expected to drive the drug delivery device market. A significant trend is the entry of telecom and IT services companies, such as Verizon, Alcatel Lucent and Intel, into the remote patient monitoring market. These companies are leveraging their expertise in areas such as networking and data security to deliver healthcare solutions to providers.
Report Details for “Home Healthcare Equipment Market to 2017”: