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Lucintel Estimates Global Home Healthcare Device Industry Reach US $29 Billion in 2017
Date:12/30/2012

Irving, Texas (PRWEB) December 30, 2012

The demographics of an aging population and a growing demand for convenient, cost-effective products are expected to drive growth in the Home Healthcare Device industry. The global market is forecast to reach an estimated US $29 billion in 2017 with a CAGR of 3.4% over the next five years.

Lucintel, a leading global management consulting and market research firm, has analyzed the Global Home Healthcare Device industry and presents its findings in “Global Home Healthcare Device Industry 2012-2017: Trend, Profit, and Forecast Analysis.”

The Home Healthcare Device industry consists of home-based treatment such as glucose monitors, blood pressure monitors, diabetes control devices, wheelchairs, walking aids, home dialysis equipment, test strips, heart rate meters, sleep monitoring devices, and such other home healthcare devices. Factors such as technology innovations, growth numbers of elderly people, an increasing patient pool, and changing lifestyles impact the market dynamics significantly.

North America dominates this industry and is expected to witness the highest CAGR over the forecast period. APAC is a smaller market, but it holds good growth potential for the future, driven mainly by India and China. An aging population, changes in healthcare needs and social structure, and rising hospitalization costs are likely to drive the market for oxygen delivery systems, health monitoring devices, mobility equipment, measurement tools, and other such home healthcare devices.

Increasing regulatory interference in the home healthcare devices industry, huge socioeconomic diversity among populations, especially in emerging economies, and healthcare infrastructure are some of the challenges being faced by the industry. Lucintel’s research indicates that the introduction of
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