Why this is important to Wisconsin businesses: Opportunities for Wisconsin exporters of medical devices and supplies
Growth in Canada's home health care market is being driven by a rising number of people who suffer from ailments such as diabetes, arthritis, cancer and other chronic diseases, along with the aging of the Baby Boomers demographic group. As of 2011, there were 9.6 million Baby Boomers (29 percent of the Canadian population), and in the coming years, many of them will have reached the age of 65.
Over the next 10 years, the Baby Boomer market will continue to drive demand for assisted living devices and home health care products. The Canadian home health care market in Canada is expected to reach nearly $19 billion by the end of 2020, with the home medical equipment market estimated to be valued between $400 million and $600 million annually.
While some products within the home health care and medical sector are well represented in Canada, opportunities exist in many segments including: diagnostic and monitoring devices, therapeutic devices, home mobility assistance devices and medical supplies. These devices and services play a crucial role in providing cost-effective health care to Canadians. The home health care market offers a great deal of business opportunities due to wide acceptance of home health care, technological innovations and cost-effective alternatives.