Global Home Medical Equipment Industry: Global and Regional Analysis with Forecast till 2028, Business Opportunities, Post COVID Scenario.

The global Home Medical Equipment market size is expected to reach $56.4 Billion by 2028 growing at the CAGR of 6.31% from 2021 to 2028.

The growth of the global home medical equipment market is being driven by a significant increase in incidence of chronic diseases as well as an uptick in the overall geriatric population across the globe. Furthermore, technological advancements in home care medical equipment such as smaller size, portability and ease to access have been some of the key contributing factors that have helped bolster market growth lately.

However, some concerns related to patient safety and difficulty with adapting to new devices may present a slight impediment moving forward.

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Key Players

Some of the major Home Medical Equipment players holding high market share include B Braun Melsungen AG, Baxter International Incorporated, and Dickinson and Company. These players use partnership and collaboration as a key strategy to gain significant market share to compete with market leaders.

The key players profiled in the report are:
● B Braun Melsungen AG
● Baxter International Incorporated
● Dickinson and Company
● General Electric Company
● Hill-Rom Holdings Incorporated
● Johnson &Johnson
● Medtronic plc
● Smith & Nephew plc
● Pace Pharmacy
● Arkray

The recently published research report on Global Home Medical Equipment Market by Evolve Business Intelligence examines the industry in the context of major market aspects including market size & forecast, market shares in terms of revenues and volume, key players, and SWOT analysis. The market is analyzed based on 4 separate indications in the market dynamic chapter: Drivers, Restraints, Key Trends, and Challenges. The total sum of these sections will help you understand what strategies will be best to adopt in order to prosper through this industry over a few short years. The quantitative analysis includes our actual findings out of this research study where we provided additional insight into what our readers can do to embrace new opportunities or plan against threats that might hinder the market.

The COVID-19 pandemic has led to disruption in the supply chain leading to lower demand or supply shortages in the Home Medical Equipment market. The travel restrictions and social-distancing measures have resulted in a sharp drop in consumer and business spending and this pattern is expected to continue for some time. The end-user trend and preferences have changed due to the pandemic and have resulted in manufacturers, developers, and service providers adopting various strategies to stabilize the company.

The New Normal

As businesses recover from the COVID-19 pandemic, they have a new set of priorities to cope with. Throughout this crisis, they were forced to deal with shifting situations and often fell short of their ultimate goals. Now that a cure has been found and the pandemic is dying down, they will need to recuperate from this epidemic by setting forth new objectives to succeed in the future.

In terms of COVID 19 impact, the Home Medical Equipment market report also includes the following data points:
● COVID19 Impact on Home Medical Equipment market size
● End-User/Industry/Application Trend, and Preferences
● Government Policies/Regulatory Framework
● Key Players Strategy to Tackle Negative Impact/Post-COVID Strategies
● Opportunity in Home Medical Equipment market

Segmental Analysis

Market Segment By Functionality with focus on market share, consumption trend, and growth rate of Home Medical Equipment Market:
o Therapeutic Equipment
o Home IV Equipment
o Patient Monitoring Equipment
o Others

Market Segment By Distribution Channel with the focus on market share, consumption trend, and growth rate of Home Medical Equipment Market:
o Hospital & Retail Pharmacies
o Online Retailers

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Key Region/ Countries Covered
● North America (US, Canada, Mexico)
● Europe (Germany, U.K., France, Italy, Russia, Rest of Europe)
● Asia-Pacific (China, India, Japan, South Korea, Rest of Asia Pacific)
● Rest of the World (the Middle East & Africa and South America)

North America accounts for the largest market share for home medical equipment and is expected to retain its dominance throughout the forecast period. Chronic disease afflictions like asthma, diabetes, high blood pressure and more contribute to North America making up such a significant segment of this industry. The region's growth will remain strong through the end of the report's assessment period owing to region-specific factors – notably an increase in disposable income and awareness surrounding home care medical devices—accelerating demand.

However, Asia Pacific is anticipated to grow at the fastest rate during the forecast period due to increased disposable income amongst people that are now learning about the benefits of home medical equipment.

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