Innovations in Ease-of-use and Performance to Accelerate Adoption of Home Healthcare Devices

Bharatbook added a new report on "The Future of the Home Healthcare Equipment Market to 2016 - Market Forecasts, Competitive Landscape and Pipeline Analysis" which gives in-depth information about healthcare devices.

Online PR News – 22-March-2010 – – The Future of the Home Healthcare Equipment Market to 2016 - Market Forecasts, Competitive Landscape and Pipeline Analysis

This report provides key data, information and analysis on the global home healthcare equipment market. The report provides market landscape, competitive landscape and market trends information on seven home healthcare equipment market segments – glucose monitoring systems, insulin delivery devices, inhalation systems, hematology rapid tests, automatic sphygmomanometers and remote patient monitoring. The report provides comprehensive information on the key trends affecting these categories, and key analytical content on the market dynamics. The report also reviews the competitive landscape, key pipeline products and technology offerings. This report is built using data and information sourced from proprietary databases, primary and secondary research and in-house analysis by GBI Research’s team of industry experts. ( )

Global Home Healthcare Equipment market set to boom in the next seven years driven by ageing population
The global home healthcare equipment market was valued at $40,534.6m in 2009 and is forecast to grow to $66,877m by 2016 at a compound annual growth rate (CAGR) rate of 7.4% in 2009–2016. The global home healthcare market is forecast to be driven by a growing focus on self-monitoring to curb spiraling healthcare expenditures due to reimbursement reforms and the increasing 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.

Rising Healthcare Expenditure in Developed Nations as Percentage of GDP is Forcing Healthcare Payers to look for Alternatives
Cost reduction has become the primary theme of healthcare reforms globally. To survive and succeed in these challenging conditions, it is imperative for healthcare providers to look for ways to adapt and implement new strategies to help them save on costs. In today’s competitive environment, reimbursement reforms have made it imperative for providers to perform efficiently and deliver higher standards of care to become eligible for reimbursements. The paradigm shift towards improved quality, error free services and the need to ensure patient satisfaction to retain their allegiance has prompted healthcare providers to adopt novel technologies such as remote patient monitoring, which relies on self-monitoring in order to reduce costs by reducing the length of hospital stays. More providers are moving towards remote patient monitoring, which frees up their physicians and nurses for acute cases and helps them to tackle staff shortages. Acceptance of new technologies is expected to drastically improve among those who are currently reluctant to invest to achieve long term cost reduction goals.

Innovations in Ease-of-use and Performance to Accelerate Adoption of Home Healthcare Devices
The home healthcare market is a consumer driven market, where the product’s success hinges upon the ease of use and the associated the learning curve. Medical device manufacturers are increasingly recognizing this, and are now including small but significant design changes which fit into a patient’s routine rather than other way around. Home monitoring devices have become smaller and more unobtrusive, and in some cases do not even require removal during bathing and sleeping. These changes allow patients to maintain their current lifestyle, indirectly increasing compliance by reducing the adjustments one had to make with traditional systems.

A number of technologies have now enhanced the reliability of testing within the home monitoring devices and have led to rapid adoption by patients and healthcare providers alike. Current marketed glucose meters have to meet accuracy standards set by the International Organization for Standardization (ISO). This standardization has resulted in wider patient acceptance of self-monitoring blood glucose meters. A large number of hospitals have started using glucose meters for determining glucose levels. New blood pressure monitors are now designed to compensate for the discrepancies that crop up due to changes in body movements or irregular heart beats.

These technological advances are changing the perceptions of consumers and are expected to enhance the acceptance of home monitoring devices among patients in the future.

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