BCC Research Reports on Growing Need for Home Medical Equipment

A recent study by BCC Research indicates that home monitoring technologies are driving big growth in the global market for home medical equipment.
According to the report:

The global market for HME is expected to grow from $27.8 billion in 2015 to nearly $44.3 billion by 2020, reflecting a compound annual growth rate (CAGR) of 9.7%. The segment for monitors, sensors and telemetry devices accounts for the largest share of the market, chiefly from the high demand for home blood glucose testers. Growing at a CAGR of 12%, this segment is more active than either assistive or therapeutic devices, which have CAGRs of 2.3% and 9.9%, respectively. The total global HME market for both these segments is expected to grow from 55.4% in 2014 to 62.4% by 2020.

BCC Research analyst Andrew McWilliams commented:

A growing number of individuals monitor health parameters such as blood pressure, glucose and cholesterol levels at home, either under the supervision of a physician or on their own. Most of the monitors used in the home care market are single purpose, handheld or wearable. Many home monitoring devices used under a physician’s supervision use telemetry to report results back to the doctor. While some home tests, such as the traditional fingerstick blood tests, are mildly invasive, new technologies are being developed that make them less so.

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