Home Medical Equipment Market 2021: Top Players, Emerging Demand, Business Profit Analysis, Sales Revenue and Expansion Strategies by 2027

Report Ocean presents a new report on global home medical equipment market size, share, growth, industry trends, and forecast 2026, covering various industry elements and growth trends helpful for predicting the market’s future.

The global home medical equipment market was valued at $26,629 million in 2018, and is estimated to reach $41,259 million by 2026, registering a CAGR of 5.6%from 2019 to 2026.

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The Centers for Medicare and Medicaid Services report that US healthcare expenditures grew by 4.6% to US$ 3.8 trillion in 2019, or US$ 11,582 per person, and accounted for 17.7% of GDP. Also, the federal government accounted for 29.0% of the total health expenditures, followed by households (28.4%). State and local governments accounted for 16.1% of total health care expenditures, while other private revenues accounted for 7.5%.

This study aims to define market sizes and forecast the values for different segments and countries in the coming eight years. The study aims to include qualitative and quantitative perspectives about the industry within the regions and countries covered in the report. The report also outlines the significant factors, such as driving factors and challenges, that will determine the market’s future growth.

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Home medical equipment are medical devices that offer safe, convenient, cost-effective, and suitable treatment to the patients. Home medical equipment comprises of various devices that can be easily accessed by the patients or caregivers at home. These include blood glucose monitors, blood pressure monitors, Holter monitors, automated external defibrillators, and several others. The homecare equipment makes it easier for the patients to carry their day to day activities smoothly without the need of visiting hospitals and clinics regularly.

This again saves their time and are proven to be cost effective. Further, medical equipment used for mobility assistance are widely being used by the elderly population as well as patients with certain difficulty in mobility. In addition, due to an increase in incidence of asthma and chronic obstructive pulmonary disease (COPD), oxygen-related products in home medical equipment are gaining considerable traction.

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The growth of the global home medical equipment market is driven by the increase in incidenceof chronic diseases and rise in geriatric population. Furthermore,cost-effectiveness of home medical devicesand technological advancementsare expected to fuel the market growth. However, surge in concerns related to patient safety and difficulty in adapting to medical devicesrestrainthe growth. The growth potentialin the emerging economies of Asia-Pacific is expected to provide numerous opportunities for market expansionduring the forecast period.

The global homemedical equipment market is segmented into functionality and region. Based on functionality,it is divided into therapeutic equipment, patient monitoring equipment, and mobility assist &patient support equipment. The therapeutic equipment is further classifiedintohome respiratory therapy equipment, home IV equipment, home dialysis equipment, and other home therapeutic equipment. The market by home respiratory equipment is sub-divided intocontinuous positive airway pressure equipment, oxygen delivery equipment, ventilators, nebulizers, and humidifiers.

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The continuous positive airway pressure equipment is categorized into CPAP machines, CPAP masks & related interfaces, CPAP accessories, and oxygen delivery equipment. The market based on oxygen delivery equipment is classifiedinto oxygen concentrators, home liquid oxygen containers, oxygen cannula, and other home oxygen delivery equipment. Based onhome IV equipment, the market is divided into IV pumps, IV administration, and IV accessories.

The market on the basis of home dialysis equipment is categorized intohome peritoneal dialysis product andhome hemolysis product. The other home therapeutic equipment is sub-segmented into home physical therapy equipment, home negative pressure wound therapy devices, home braces & related products, home enteral feeding products, home automated external defibrillators, and home muscle &nerve stimulators. By patient monitoring equipment, the market is segmented into blood glucose monitors, blood pressure monitors, Holter monitors, peak flow meters, apnea monitors, heart rate monitors, baby monitors, electronic thermometers, and coagulation monitor.

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The mobility assists&patient support equipment divides the market into mobility assist equipment,which include wheelchairs, mobility scooters, walking assist devices, medical furniture, and bathroom safety equipment. Based onwheelchair, the market is bifurcatedinto manual wheelchairs and powered wheelchairs. The walking assist devices is categorized intowalkers & rollators, canes & walking sticks, and crutches. Based on medical furniture, the market is classified into lift chairs, medical beds, stair lifts, and medical furniture accessories. By bathroom safety equipment,it is fragmented into bars, grips & rails; shower chairs; elevated toilet seats; and commodes. Based on region, it is analyzed across North America, Europe, Asia-Pacific, and LAMEA.

The major companies profiled in the report include Abbott Laboratories, B Braun Melsungen Ag, Baxter International Incorporated, Becton, Dickinson and Company, General Electric Company, Hill-Rom Holdings Incorporated,Johnson & Johnson, Medtronic plc, and Smith & Nephew plc.The other companies that provide home medical equipment are Arkray Incorporated, Carefusion Corporation, Invacare Corporation, Medline Industries Incorporated, Omron Corporation, Resmed Corporation, and Smiths Group plc.

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KEY BENEFITS FOR STAKEHOLDERS
– 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 2018 to 2026, 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 market.

KEY MARKET SEGMENTS

BY FUNCTIONALITY
– Therapeutic Equipment
o Home Respiratory Therapy Equipment
– Continuous Positive Airway Pressure Equipment
– CPAP Machines
– CPAP Masks & Related Interfaces
– CPAP Accessories
– Oxygen Delivery Equipment
– Oxygen Concentrators
– Home Liquid Oxygen Containers
– Oxygen Cannula
– Other Home Oxygen Delivery Equipment
– Ventilators
– Nebulizers
– Humidifiers
o Home IV Equipment
– IV Pumps
– IV Administration
– IV Accessories
o Home Dialysis Equipment
– Home Peritoneal Dialysis Product
– Home Hemolysis Product
o Other Home Therapeutic Equipment
– Home Physical Therapy Equipment
– Home Negative Pressure Wound Therapy Devices
– Home Braces & Related Products
– Home Enteral Feeding Products
– Home Automated External Defibrillators
– Home Muscle & Nerve Stimulators
– Patient Monitoring Equipment
o Blood Glucose Monitors
o Blood Pressure Monitors
o Holter Monitors
o Peak Flow Monitors
o Apnea Monitors
o Heart Rate Monitors
o Baby Monitors
o Electronic Thermometers
o Coagulation Monitors
– Mobility Assist & Patient Support Equipment
o Wheelchairs
– Manual Wheelchairs
– Powered Wheelchairs
o Mobility Scooters
– Walking Assist Devices
– Walkers & Rollators
– Canes & Walking Sticks
– Crutches
o Medical Furniture
– Lift Chairs
– Medical Beds
– Stair Lifts
– Medical Furniture Accessories
o Bathroom Safety Equipment
– Bars, Grips & Rails
– Shower Chairs
– Elevated Toilet Seats
– Commodes

BY DISTRIBUTION CHANNEL
– Pharmacies
– Retail Medical Stores
– Online Retailers

By Region
- North America
o U.S.
o Canada
o Mexico
- Europe
o Germany
o France
o UK
o Italy
o Spain
o Rest of Europe
- Asia-Pacific
o Japan
o China
o India
o Rest of Asia-Pacific
- LAMEA
o Latin America
o Middle East
o Africa

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What are the aspects of this report that relate to regional analysis?

The report's geographical regions include North America, Europe, Asia Pacific, Latin America, the Middle East, and Africa.

The report provides a comprehensive analysis of market trends, including information on usage and consumption at the regional level.

Reports on the market include the growth rates of each region, which includes their countries, over the coming years.

How are the key players in the market assessed?

This report provides a comprehensive analysis of leading competitors in the market.

The report includes information about the key vendors in the market.

The report provides a complete overview of each company, including its profile, revenue generation, cost of goods, and products manufactured.

The report presents the facts and figures about market competitors, alongside the viewpoints of leading market players.

A market report includes details on recent market developments, mergers, and acquisitions involving the key players mentioned.

Following are the questions answered by the Market report:

What are the goals of the report?

This market report shows the projected market size for the home medical equipment market at the end of the forecast period. The report also examines the historical and current market sizes.

On the basis of various indicators, the charts present the year-over-year growth (%) and compound annual growth rate (CAGR) for the given forecast period.

The report includes an overview of the market, its geographical scope, its segmentation, and the financial performance of key players.

The report examines the current state of the industry and the potential growth opportunities in North America, Asia Pacific, Europe, Latin America, and the Middle East, and Africa.

The research report includes various factors contributing to the market's growth.

The report analyzes the growth rate, market size, and market valuation for the forecast period.

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What factors are taken into consideration when assessing the key market players?

The report analyzes companies across the globe in detail.

The report provides an overview of major vendors in the market, including key players.

Reports include information about each manufacturer, such as profiles, revenue, product pricing, and other pertinent information about the manufactured products.

This report includes a comparison of market competitors and a discussion of the standpoints of the major players.

Market reports provide information regarding recent developments, mergers, and acquisitions involving key players.

What are the key findings of the report?

This report provides comprehensive information on factors expected to influence the market growth and market share in the future.

The report offers the current state of the market and future prospects for various geographical regions.

This report provides both qualitative and quantitative information about the competitive landscape of the market.

Combined with Porter's Five Forces analysis, it serves as SWOT analysis and competitive landscape analysis.

It provides an in-depth analysis of the market, highlighting its growth rates and opportunities for growth.

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