09.18.13
According to a new report from information and analytics firm IHS, revenue for the consumer medical device industry will grow from 5 to 9 percent annually for the next few years, reaching $10.6 billion by 2017. This year, IHS analysts predict revenue to rise 4 percent to $8.2 billion from $7.9 billion in 2012.
What’s driving the increase? Familiar demographics. An aging population and conversely patients that are staying more active later in life are among the most influential factors. As baby boomers age and the healthcare industry moves to a system that emphasizes wellness and prevention, the global market for consumer medical devices ranging from pedometers and personal scales to blood glucose and cholesterol meters will boom.
Consumer medical devices are low cost and can be—most often—purchased by consumers over the counter.
The trend toward consumer medical device growth also will be driven by the private sector and the Affordable Care Act, which is moving hospitals and doctors away from fee-for-service medicine where they are paid based on volume of services to reimbursement based on the value of care they provide.
Globally, spending on consumer medical devices is expected to surge thanks to an increase in chronic conditions such as high blood pressure, diabetes and obesity.
IHS also recently published a study about China's ultrasound market.
What’s driving the increase? Familiar demographics. An aging population and conversely patients that are staying more active later in life are among the most influential factors. As baby boomers age and the healthcare industry moves to a system that emphasizes wellness and prevention, the global market for consumer medical devices ranging from pedometers and personal scales to blood glucose and cholesterol meters will boom.
Consumer medical devices are low cost and can be—most often—purchased by consumers over the counter.
The trend toward consumer medical device growth also will be driven by the private sector and the Affordable Care Act, which is moving hospitals and doctors away from fee-for-service medicine where they are paid based on volume of services to reimbursement based on the value of care they provide.
Globally, spending on consumer medical devices is expected to surge thanks to an increase in chronic conditions such as high blood pressure, diabetes and obesity.
IHS also recently published a study about China's ultrasound market.