Home Medical Equipment Market Segmentation, Forecast, Market Analysis, Global Industry Size and Share to 2025

Diagnostics and monitoring devices are increasingly adopted around the globe owing to growing incidence and prevalence rate of chronic diseases such as CVD, CHD, Diabetes; among other diseases. Home medical equipment is widely used in remote monitoring of elderly patients that contribute to the growth of the global home medical equipment market. Major factors that are creating the demand for home care medical equipment, include increasing patients base, better affordability, increasing geriatric population, and higher demand for convenience. Various companies including Philips Healthcare, Honeywell Life Care Solutions, and Senior Solution Home Care are offering home care facilities in healthcare sector. The demand for medical devices that can be used in the home care setting is increasing significantly over the past decade. It comprises many different medical services available at home, including home health, hospice care, caregiver services, and palliative care. The companies and hospitals are focusing on the development of home care facilities and developing customized products as per the patient’s need.

Browse the full report description of Global Home Medical Equipment Market Size, Share & Trends Analysis Report by Type (Diagnostic and Monitoring Device, Therapeutic Devices, and Mobility Care Devices) and Forecast 2019-2025 @ https://www.omrglobal.com/industry-reports/home-medical-equipment-market-size

Rising prevalence of chronic diseases is substantially augmenting the growth of the global homecare medical equipment market. The increasing prevalence of several diseases, such as neurological conditions, cancer, ophthalmic ailments, gynecological complications, and cardiac disorders are further propelling the adoption rate of home medical equipment across the globe. For the treatment of these disorders, various surgical interventions are required that lead to enhanced long-term care and recovery; hence, fueling the demand for durable home medical equipment. Due to the technology up-gradation in medical equipment, such as blood glucose monitors, temperature monitors, heart rate monitors, oxygen-monitoring systems, sleep apnea monitors, is significantly driving the global market growth.

Additionally, the demand for alternative cost-effective medical facilities is spurring the home medical equipment market growth. There are various key players offering the home medical equipment, such as Abbott laboratories Inc., Siemens AG, Omron Corp., F. Hoffmann La-Roche Ltd., Medtronic PLC, and others. There are various developments accomplished in the field of home medical devices, such as, in February 2017, Invacare Corp. introduced three high-active custom manual wheelchairs in the US namely kuschall K-Series attract, kuschall Champion, and kuschall Advance under brand Kuschall. Due to the increment in technology, the new medical equipment such as blood glucose monitors, temperature monitors, heart rate monitors, oxygen-monitoring systems, sleep apnea monitors is increasing in the homecare setting.

Moreover, increasing application of portable medical devices is contributing to the growth of the home medical equipment market. A portable oxygen concentrator is finding higher application as compared to a fixed oxygen concentrator. A fixed oxygen concentrator has application majorly in hospitals; whereas, the portable oxygen concentrator can also be used in the home care setting. Additionally, only some particular type of oxygen concentrators are allowed in the airplanes hence companies should invest in portable concentrator as people traveling via airplanes are increasing continuously which may require oxygen concentrator. Additionally, the rise in per capita income of the people in the emerging economies is further estimated to provide significant market growth during the forecast period.

Global Home Medical Equipment Market- Segmentation

By Type
• Diagnostic and Monitoring Device
• Therapeutic Devices
• Mobility Care Devices

Global Home Medical Equipment Market– Segment by Region

North America
• US
• Canada
Europe
• Germany
• UK
• France
• Spain
• Italy
• Rest of Europe
Asia-Pacific
• China
• Japan
• India
• Rest of Asia-Pacific
Rest of the World

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This release was published on openPR.