Published by Coherent Market Insights
Posted on September 29, 2021
6 min readLast updated: February 1, 2026
The Home Medical Equipment Market is poised for growth by 2027, driven by chronic diseases and technological advancements, with North America leading the way.
Home Medical Equipment Market (Forecast Period 2021-2028): The report provides a valuable source of insightful data for business strategists and competitive analysis of Home Medical Equipment Market. The study covers important knowledge that makes the analysis document a handy resource for managers, analysts, business consultants and different key individuals get ready-to-access and self-analyzed study in conjunction with graphs and tables to assist perceive market trends, drivers and market challenges.It also highlights the restraints and opportunities expected to influence the market’s growth during the said period. The study provides a holistic perspective on the market’s growth throughout the above mentioned forecast period in terms of revenue(in US$ Mn) and Volume (Thousand Units), across different geographies.
To Access the Sample Report Click Here: https://www.coherentmarketinsights.com/insight/request-sample/233
Note: *The Sample only consist of Table of Content (ToC), Research Framework of the actual report, and Research Methodology adopted for it.
Major Players In This Market Are: AstraZeneca, B. Braun Melsungen AG, Baxter, GE Healthcare, F. Hoffmann-La Roche Ltd, Stryker, Sunrise Medical LLC, ResMed, Philips Healthcare., Medline Industry, CareFusion Corporation, and Abbott Laboratories.
Home medical equipment is a category of devices used for patients, whose care is managed from a private facility or home by a non-professional caregiver or family member. It is also referred as durable medical equipment (DME) and is intended to tolerate repeated use by non-professionals or the patient, and is appropriate for use in home settings. Home medical equipment involves various medical electric instruments such as digital blood pressure monitors, blood glucose meters, pulse oximeters, and peak flow meters. These devices are available in both hospital and home-use models, with changing features and capabilities differentiating the models. The term home healthcare equipment is also applied to other products such as breast pumps, nebulizers, and artificial limbs and other prosthetic devices. Moreover, personal hygiene products, electric toothbrushes, and denture cleaners can also be considered as home medical equipment. Even mechanical assist devices, such as wheelchairs, seat lifts, and walkers can be part of home healthcare equipment. It helps in reducing duration of patients’ stay in hospitals, nursing homes, or clinics.
Market Dynamics
Growing incidence of chronic disease, increasing geriatric population, and rising healthcare expenditure are expected to drive growth of the global home medical equipment market during the forecast period. Moreover, growing consumer awareness regarding convince and cost-effectiveness of these equipment coupled with growing insured population is opting for home medical equipment.
Global Home Medical Equipment Market
On the basis of product type, the global home medical equipment market is segmented into:
Home Tests and Patient Monitoring Equipment
Home Therapeutic Equipment
Patient Support Equipment
Among regions, North America accounts for the largest market share, followed by Europe. This is owing to well-established healthcare infrastructure, technological advancement, high disposable income, and good reimbursement policies in the region. In the U.S., provisions of the Obamacare Act that provides health insurance to 30 million uninsured people, which has created highly lucrative environment for growth of the home medical equipment market. Asia Pacific region is expected to witness high growth rate in the near future due to increasing awareness and shortage of professional medical services providers in the region. This is owing to increasing demographics and rising healthcare expenditure in emerging economies such as India and China. Furthermore, technological innovation has led to development of novel products, which would propel growth of the market. Key players in the marker are focused on various growth strategies such as mergers and acquisition, which is expected to drive growth of the market in the near future.
Market Dynamics- Restraints
Changing reimbursement policies, risk to safety, limited insurance coverage, health of home healthcare worker, and growing patient safety concerns such as home healthcare worker have less control over their work environment that may contain a number of safety and health hazards. These hazards which may include ergonomic hazards, bloodborne pathogens and biological hazards, latex sensitivity, from patient lifting, hostile animals violence, and unhygienic and dangerous conditions. Moreover, if their daily work duties require them to provide care for multiple patients, they may face hazards on the road as they drive from home to home, these are some of the main factors projected to inhibit growth of this market during the forecast period. The U.S. Food and Drug Administration (FDA) has regulated medical devices used by consumers at home in the same way it regulates all other medical devices. However, in recognition of the growing number of potential safety issue regarding the use of home healthcare equipment, the FDA announced plans to provide closer oversight of home healthcare equipment in the U.S. in April 2010.
Key Developments
Major companies in the market are focused on various business strategies such as collaboration and partnership, in order to enhance their market presence. For instance, in January 2018, GE Healthcare and Roche Ltd. entered into partnership to develop diagnostic platform to improve critical care treatment. This partnership will apply advanced analytics to in-vivo data from GE’s medical imaging and monitoring equipment with in-vitro data from Roche’s biomarkers, sequencing portfolio, and tissue pathology.
Key players in the marker are involved in various business strategies such as merger and acquisition, in order to gain competitive edge in the global market. For instance, in March 2019, ResMed, a U.S.-based medical equipment company, acquired HB Healthcare, a provider of home medical equipment. HB Healthcare is a South Korea-based company, providing sleep and respiratory care devices.
Key companies in the market are involved in various growth strategies such as service and business expansion, in order to enhance their market presence. For instance, in February 2018, Phillips India Ltd., a health technology company, expanded its ‘Healthcare@home services to Chennai, India with launch of ICY@home. This new service will provide intensive care unit equipment and high-quality medical care to patients at home.
Buy This Premium Report Of Home Medical Equipment Market Report 2021 With Flat USD 2000 OFF @ https://www.coherentmarketinsights.com/promo/buynow/233
In this study, the years considered to estimate the market size of Home Medical Equipment are as follows:
History Year: 2017-2020
Base Year: 2020
Estimated Year: 2021
Forecast Year 2021 to 2028
The next part also sheds light on the gap between supply and consumption. Apart from the mentioned information, growth rate of Home Medical Equipment Market in 2028 is also explained. Additionally, type wise and application wise consumption tables and figures of Home Medical Equipment Market are also given.
Contact:
Coherent Market Insights
1001 4th Ave, #3200 Seattle, WA 98154, U.S.
Email: sales@coherentmarketinsights.com
United States of America: +1-206-701-6702
United Kingdom: +44-020-8133-4027
Japan: +050-5539-1737
India: +91-848-285-0837
The post Home Medical Equipment Market Is Likely to Spur Advancement in Medical Industry 2021-2027 appeared first on Gatorledger.
The article discusses the growth of the Home Medical Equipment Market from 2021 to 2027.
Chronic disease incidence, an aging population, and technological advancements are key drivers.
North America leads due to advanced healthcare infrastructure, with Asia Pacific expected to grow rapidly.
Explore more articles in the Research Reports category
