Press release
Home Medical Devices Market is expected to reach US$ 57,102.9 million by 2028 With F. Hoffmann-La Roche Ltd.; General Electric Company; Abbott; Koninklijke Philips N.V.; B. Braun Melsungen AG; Johnson and Johnson Services, Inc.; Medtronic; Medline Industr
Home Medical Devices Market
Based on functionality, the testing, screening and monitoring equipment segment held the largest share during the forecast period. The growth can be attributed to factors such as increasing chronic conditions and large number of people opting to buy testing medical equipment for home use. For instance, increasing prevalence of diabetes has led to increase in adoption of blood glucose monitors. Moreover, it is expected by the International Diabetes Federation that by 2045 people suffering from diabetes will reach to 629 million globally from 425 million in 2017. Additionally, developments by market players is boosting the growth of the market. For instance, in 2020, Abbott launched a continuous blood glucose monitoring system FreeStyle Libre in India and will be available for both adults and children. This will offer patients a choice to check glucose levels anytime and anywhere, eventually improving glucose control.
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The growth of the home medical devices market is mainly attributed to the factors such as growing demand for homecare medical devices by geriatric population, increasing homecare settings, and rising market consolidation. However, stringent regulations, challenges and risks for homecare medical devices are key factors restraining the market growth.
F. Hoffmann-La Roche Ltd.; General Electric Company; Abbott; Koninklijke Philips N.V.; B. Braun Melsungen AG; Johnson and Johnson Services, Inc.; Medtronic; Medline Industries, Inc.; Baxter International Inc.; and Invacare Corporation are among the leading companies operating in the home medical devices market.
The report segments global home medical devices market as follows:
By Functionality
Testing, Screening and Monitoring Equipment
Therapeutic Products
Mobility Care Products
Electrical Stimulation Devices
Biofeedback Instruments
Muscle Stimulators
By Services
Skilled Nursing Services
Rehabilitation Therapy Services
Respiratory Therapy Services
Hospice and Palliative Care Services
Pregnancy Care Services
Infusion Therapy Services
Unskilled Care Services
By Distribution Channel
Hospital Pharmacy
Retail Pharmacy
Online Pharmacy
By Geography
North America
US
Canada
Mexico
Europe
France
Germany
UK
Spain
Italy
Rest of Europe
Asia Pacific (APAC)
China
India
Japan
Australia
South Korea
Rest of Asia Pacific
Middle East and Africa (MEA)
Saudi Arabia
UAE
South Africa
Rest of Middle East and Africa
South and Central America (SCAM)
Brazil
Argentina
Rest of South and Central America
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