Global Home Medical Equipment Market, By Functionality (Therapeutic Equipment, Patient Monitoring Equipment, Mobility Assist and Patient Support Equipment), Distribution Channel (Pharmacies, Retail Medical Stores, Online Retailers), End Users (Hospitals, Home Care Settings, Others), Country (U.S., Canada, Mexico, Germany, Italy, U.K., France, Spain, Netherland, Belgium, Switzerland, Turkey, Russia, Rest of Europe, Japan, China, India, South Korea, Australia, Singapore, Malaysia, Thailand, Indonesia, Philippines, Rest of Asia-Pacific, Brazil, Argentina, Rest of South America, South Africa, Saudi Arabia, UAE, Egypt, Israel, Rest of Middle East & Africa) Industry Trends and Forecast to 2028
The home medical equipment market is expected to gain market growth in the forecast period of 2021 to 2028. Data Bridge Market Research analyses that the market is growing with the CAGR of 5.50% in the forecast period of 2021 to 2028 and is expected to reach USD 34,917.26 million by 2028. The increase in prevalence of chronic diseases among population across the globe and increased burden on the healthcare facilities sector is escalating the growth of home medical equipment market.
Home medical equipment refers to the medical devices which assist in providing convenient, safe, familiar and cost effective environment to patients at their homes. These equipment help in lowering down the time spent in hospitals, clinics and nursing homes, save healthcare expenditure, curbs down the recovery time and helps in fast recovery of patients.
The increase in the cases of chronic diseases including kidney disorders, respiratory diseases and cancer and the rise in efforts to provide improved healthcare facilities to the patients are the major factors driving the growth of home medical equipment market. Enhancement in the convenience of handling this medical equipment and the increase in their adoption because of the ease accelerate the home medical equipment market growth. The rise in demand for this equipment especially by patients suffering from lifelong illnesses such as arthritis and blood pressure who require consistent medical care and the cost effectiveness of these equipment also influence the home medical equipment market. Additionally, growing aged population and increasing number of preterm births and rise in disposable income affect the home medical equipment market. Furthermore, the positive reimbursement scenario, favorable government policies and emerging economies extend profitable opportunities to the home medical equipment market players in the forecast period of 2021 to 2028.
On the other hand, concerns regarding the safety and dependability and issues with the adoption of these medical devices are expected to obstruct the home medical equipment market growth. Risk of misuse of the equipment and hazards due to poor environment are projected to challenge the home medical equipment market.
This home medical equipment market report provides details of new recent developments, trade regulations, import export analysis, production analysis, value chain optimization, market share, impact of domestic and localized market players, analyses opportunities in terms of emerging revenue pockets, changes in market regulations, strategic market growth analysis, market size, category market growths, application niches and dominance, product approvals, product launches, geographic expansions, technological innovations in the market. To gain more info on home medical equipment market contact Data Bridge Market Research for an Analyst Brief, our team will help you take an informed market decision to achieve market growth.
Home Medical Equipment Market Scope and Market Size
The home medical equipment market is segmented on the basis of functionality, distribution channel and end users. The growth amongst these segments will help you analyze meagre growth segments in the industries, and provide the users with valuable market overview and market insights to help them in making strategic decisions for identification of core market applications.
- On the basis of functionality, the home medical equipment market is segmented into therapeutic equipment, patient monitoring equipment and mobility assist and patient support equipment. Therapeutic equipment is further segmented into home respiratory therapy equipment, home IV equipment, home dialysis equipment and other home therapeutic equipment. Home respiratory therapy equipment is further sub-segmented into continuous positive airway pressure equipment, oxygen delivery equipment, ventilators, nebulizers and humidifiers. Continuous positive airway pressure equipment is sub-sub-segmented into CPAP machines, CPAP masks and related interfaces and CPAP accessories. Oxygen delivery equipment is sub-sub-segmented into oxygen concentrators, home liquid oxygen containers, oxygen cannula and other home oxygen delivery equipment. Home IV equipment is further sub-segmented into IV pumps, IV administration and IV accessories. Home dialysis equipment is further sub-segmented into home peritoneal dialysis product and home hemolysis product. Other home therapeutic equipment is further sub-segmented into home physical therapy equipment, home negative pressure wound therapy devices, home braces and related products, home enteral feeding products, home automated external defibrillators and home muscle and nerve stimulators. Patient monitoring equipment is further segmented into blood glucose monitors, blood pressure monitors, holter monitors, peak flow monitors, apnea monitors, heart rate monitors, baby monitors, electronic thermometers and coagulation monitors. Mobility assist and patient support equipment is further segmented into wheelchairs, mobility scooters, medical furniture and bathroom safety equipment. Wheelchairs are further sub-segmented into manual wheelchairs and powered wheelchairs. Mobility scooters are further sub-segmented into walking assist devices, walkers and rollators, canes and walking sticks and crutches. Medical furniture is further segmented into lift chairs, medical beds, stair lifts and medical furniture accessories. Bathroom safety equipment is further sub-segmented into bars, grips and rails, shower chairs, elevated toilet seats and commodes.
- On the basis of distribution channel, the home medical equipment market is segmented into pharmacies, retail medical stores and online retailers.
- On the basis of end users, the home medical equipment market is segmented into hospitals, home care settings and others.
Global Home Medical Equipment Market Country Level Analysis
Global home medical equipment market is analyzed and market size insights and trends are provided by country, functionality, distribution channel and end users as referenced above.
The countries covered in the home medical equipment market report are the U.S., Canada and Mexico in North America, Germany, France, U.K., Netherlands, Switzerland, Belgium, Russia, Italy, Spain, Turkey, Rest of Europe in Europe, China, Japan, India, South Korea, Singapore, Malaysia, Australia, Thailand, Indonesia, Philippines, Rest of Asia-Pacific (APAC) in the Asia-Pacific (APAC), Saudi Arabia, U.A.E, South Africa, Egypt, Israel, Rest of Middle East and Africa (MEA) as a part of Middle East and Africa (MEA), Brazil, Argentina and Rest of South America as part of South America.
North America dominates the home medical equipment market because of the rise in the chronic diseases cases such as high blood pressure, asthma and diabetes, established healthcare infrastructure, presence of leading manufacturers and demand for advanced technologies. Asia-Pacific is estimated to grow in the forecast period of 2021-2028 due to the large population, improving healthcare sector, increase in healthcare issues and demand for affordable systems in the region.
The country section of the home medical equipment market report also provides individual market impacting factors and changes in regulation in the market domestically that impacts the current and future trends of the market. Data points such as consumption volumes, production sites and volumes, import export analysis, price trend analysis, cost of raw materials, down-stream and upstream value chain analysis are some of the major pointers used to forecast the market scenario for individual countries. Also, presence and availability of global brands and their challenges faced due to large or scarce competition from local and domestic brands, impact of domestic tariffs and trade routes are considered while providing forecast analysis of the country data.
Healthcare Infrastructure growth Installed base and New Technology Penetration
The home medical equipment market also provides you with detailed market analysis for every country growth in healthcare expenditure for capital equipment, installed base of different kind of products for home medical equipment market, impact of technology using life line curves and changes in healthcare regulatory scenarios and their impact on the home medical equipment market. The data is available for historic period 2010-2019.
Competitive Landscape and Home Medical Equipment Market Share Analysis
The home medical equipment market competitive landscape provides details by competitor. Details included are company overview, company financials, revenue generated, market potential, investment in research and development, new market initiatives, global presence, production sites and facilities, production capacities, company strengths and weaknesses, product launch, product width and breadth, application dominance. The above data points provided are only related to the companies’ focus related to home medical equipment market.
The major players covered in the home medical equipment market report are Abbott, ARKRAY, Inc., Baxter, B. Braun Melsungen AG, ConvaTec Inc., The Cooper Companies Inc., DeVilbiss Healthcare LLC, Medical Depot, Inc., Fresenius Medical Care AG & Co. KGaA, General Electric, GF HEALTH PRODUCTS, INC., Hill-Rom Services, Inc., Invacare Corporation, Johnson & Johnson Services, Inc., BD, Medtronic, Smith+Nephew, OMRON Corporation, ResMed, Smiths Group plc among other domestic and global players. Market share data is available for global, North America, Europe, Asia-Pacific (APAC), Middle East and Africa (MEA) and South America separately. DBMR analysts understand competitive strengths and provide competitive analysis for each competitor separately.