Press release
Home Medical Equipment Market Exhibited an Impressive CAGR of 5.7% by 2023, Says AMR
The rise in prevalence of respiratory disorders, growth in geriatric population worldwide, and advancements in the field of home medical devices drive the market growth. In addition, an increase in government support encourages R&D activities for home medical devices, which in turn fuel the growth of the home medical equipment market. However, high risk associated with the use of medical equipment and growth in reimbursement cuts is expected to restrain the market growth.
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The global home medical equipment market accounted for $21,912 million in 2016 and is estimated to reach $32,451 million by 2023, registering a CAGR of 5.7% from 2017 to 2023. Therapeutic equipment was the highest contributor in the home medical equipment market with a three-fifths share in 2016.
Major Players:
• Abbott Laboratories
• B Braun Melsungen Ag
• Baxter International Incorporated
• Becton
• Dickinson and Company
• General Electric Company
• Hill-Rom Holdings Incorporated
• Johnson & Johnson
• Medtronic plc
• Smith & Nephew plc.
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In 2016, North America accounted for maximum contribution to the total revenue and is expected to lead during the forecast period, owing to the high prevalence of chronic diseases and increase in investment for R&D activities in the field of home medical equipment.
However, Asia Pacific is expected to witness the highest CAGR during the analysis period, attributable to rise in the prevalence rate of chronic diseases, increase in government initiatives to improve healthcare infrastructure and rise in healthcare expenditure to improve the medical health of the masses in the region.
Key Benefits:
•The study provides an in-depth analysis of the market with current trends and future estimations to elucidate the imminent investment pockets.
•It offers a quantitative analysis from 2016 to 2023, which is expected to enable the stakeholders to capitalize on prevailing market opportunities.
•Extensive analysis by product elucidates the various types of home medical equipment used for the treatment of diverse chronic diseases.
•Comprehensive analysis of all geographical regions is provided to determine the prevailing opportunities.
•Key players are profiled and their strategies are analyzed thoroughly to understand the competitive outlook of the global home medical equipment market.
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About Us:
Allied Market Research, a market research and advisory company of Allied Analytics LLP, provides business insights and market research reports to large as well as small & medium enterprises. The company assists its clients to strategize business policies and achieve sustainable growth in their respective market domain.
Allied Market Research provides one stop solution from the beginning of data collection to investment advice. The analysts at Allied Market Research dig out factors that help clients to understand the significance and impact of market dynamics. The company amplies client’s insight on the factors, such as strategies, future estimations, growth or fall forecasting, opportunity analysis, and consumer surveys among others. As follows, the company offers consistent business intelligent support to aid the clients to turn into prominent business firm.
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