Home Medical Equipment Market to be Worth $62.89 Billion by 2030

Meticulous Research®-a leading market research company, published a research report titled, 'Home Medical Equipment Market by Product (Therapeutic [CPAP, Nebulizer, Ventilator, Dialysis, IV Equipment] Monitoring [Cardiac, Glucose, Temperature, Apnea] Mobility Assist [Walker, Wheelchair, Scooter]) Distribution Channel - Global Forecast to 2030.'

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According to this latest publication from Meticulous Research®, the home medical equipment market is projected to reach $62.89 billion by 2030, at a CAGR of 6.8% from 2023 to 2030. The increasing prevalence of chronic diseases coupled with the geriatric population, technological advancements in home medical equipment, rising healthcare expenditure, and the increasing adoption of self-health management practices are driving the growth of this market. Furthermore, emerging economies are expected to offer significant market growth opportunities. However, the high costs of medical equipment and the absence of reimbursement for home medical equipment are expected to restrain the market's growth.

Key Players

The key players profiled in the home medical equipment market report are Abbott Laboratories (U.S.), Amedisys, Inc (U.S.), Baxter Healthcare (U.S.), Convatec (U.K.), Fisher & Paykel Healthcare (New Zealand), Fresenius Medical Care AG & Co. KGaA (Germany), Becton, Dickinson and Company (U.S.), GE HealthCare (U.S.), Invacare Corporation (U.S.), Medtronic (Ireland), Hill-Rom Holdings, Inc. (U.S.), Smith & Nephew plc (U.K.), and Inogen, Inc. (U.S.).

Home Medical Equipment Market: Future Outlook

The home medical equipment market is segmented by Product [Therapeutic Equipment {Home Respiratory Therapeutics Equipment (CPAP machines, CPAP accessories), Oxygen Delivery Equipment (Oxygen Concentrator, Nasal Cannula, Nebulizers, Ventilators (Invasive Ventilators, Non-invasive Ventilators), Humidifiers), Home IV Equipment (IV Pumps, IV Administration, IV Accessories), Home Dialysis Equipment (Home Peritoneal Dialysis Products (Consumables (Dialyzers, Concentrates/Dialysates, Bloodlines, Other Peritoneal Dialysis Consumables)), Devices (Center-Use, Home-Use), Home Hemodialysis Products (Consumables (Concentrates/Dialysates, Catheters, Other Hemodialysis Consumables)) Devices), Patient Monitoring Equipment (Cardiac Monitoring Equipment, Blood Glucose Monitoring Equipment, Temperature Monitoring Equipment, Apnea Monitoring Equipment, Other Patient Monitoring Equipment), Mobility Assist & Patient Support Equipment (Wheelchairs (Manual Wheelchairs, Powered Wheelchairs)), Walking Assist Device (Walker & Roller, Canes & Walking Sticks, Crutches), Bathroom Safety Equipment, Mobility Scooters, Medical Furniture & Accessories)}, Distribution Channel {Retail Medical Stores, Hospital Pharmacies, E-commerce Channels}, and Geography {North America, Europe, Asia-Pacific, Latin America, and Middle East & Africa}.

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Among the products covered in this study, in 2023, the therapeutic equipment segment is expected to account for the largest share of the home medical equipment market. The large market share of this segment is attributed to the benefits offered by therapeutic equipment, such as increasing patient safety, managing chronic conditions effectively, enabling emergency monitoring, and facilitating the self-management of health. Therapeutic equipment encompasses various equipment used to address physical impairments and improve mobility.

Among the distribution channels covered in this study, in 2023, the retail medical stores segment is expected to account for the largest share of the home medical equipment market. Retail medical stores have lower operating costs resulting in lower prices of home medical equipment, contributing to this segment's large market share.

Among the regions covered in this study, in 2023, North America is expected to account for the largest share of the home medical equipment market. North America's major market share can be attributed to several factors, including the presence of prominent market players, the increasing prevalence of chronic diseases, high healthcare expenditure, the cost-effectiveness of home medical equipment, and the availability of commercial and public coverage for patients.

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Key questions answered in the report-

Which are the high-growth market segments in terms of product, distribution channels, and geography?
What was the historical market for home medical equipment across the globe?
What are the market forecasts and estimates for the period 2023-2030?
What are the major drivers, restraints, and opportunities in the home medical equipment market?
Who are the major players in the home medical equipment market?
How is the competitive landscape, and who are the market leaders in the home medical equipment market?
What are the recent developments in the home medical equipment market?
What are the different strategies adopted by the major players in the home medical equipment market?
What are the geographic trends and high-growth regions/countries?

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