U.S. Markets for Home Healthcare Products

Valued at more than $4.3 billion, the home healthcare products market is one of the largest and most stable in the United States (U.S.) due to the burgeoning aging population and corresponding increase in lifespan, the critical need for cost-effective medical equipment for patients suffering from long-term chronic conditions, and the increasing usage of technology by the baby boomer population. Additional factors include younger, disabled patients who do not require hospitalization and those recovering from acute medical conditions who need only temporary or intermittent home-based medical care.
In the year 2010, the number of people age 65 and older in the U.S. is expected tototal more than 40.2 million (or 13.0% of the total population); by the year 2050, this figure is expected to more than double to approximately 86.7 million (or 20.6%). The estimated number of people age 80 and older is expected to nearly triple, from approximately 11.7 million in the year 2010 to more than 33.7 million in the year 2050. According to the Centers for Disease Control and Prevention (CDC), life expectancy in the U.S. rose from 77.3 years in 2002 to 78.1 years in 2006 (the latest year for which figures are available).

Due to the surge in the number of aging baby boomers along with the reformation and budget constraints of the healthcare industry and ongoing Medicare cost-cutting measures, and a critical shortage of public resources, nurses, and other skilled healthcare personnel, the home healthcare products market is expected to remain strong into the foreseeable future and the number of patients transitioning from the acute care setting to the home healthcare environment will continue on an upward trend.