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U.S. Home Medical Equipment Market projected to grow US$ 20,397.76 Million by 2031 | B. Braun Melsungen AG, Beckton Dickson and Company, General Electric (GE Healthcare), Invacare Corporation.
U.S. Home Medical Equipment Market
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Market Drivers:
Aging Population: The global population is aging, with a significant increase in the number of elderly individuals. Older adults often require medical equipment to manage chronic conditions and age-related health issues. As the elderly population grows, the demand for home medical equipment also increases.
Preference for Home-Based Care: There is a growing preference for receiving healthcare services in the comfort of one's own home. Home-based care reduces hospital stays, lowers healthcare costs, and provides patients with a sense of independence and familiarity. This trend drives the demand for home medical equipment that enables individuals to receive care at home.
Market Segmentation:
Product Type:
a. Mobility Aids: Wheelchairs, walkers, crutches, scooters, and canes.
b. Monitoring and Therapeutic Devices: Blood pressure monitors, glucose meters, pulse oximeters, nebulizers, home dialysis equipment, and respiratory therapy equipment.
c. Personal Care Products: Bath safety equipment, patient lifts, home care beds, and incontinence management products.
d. Bathroom Safety and Accessibility Equipment: Grab bars, shower chairs, raised toilet seats, and bath lifts.
e. Sleep Apnea Devices: Continuous positive airway pressure (CPAP) machines, masks, and accessories.
f. Other Equipment: Home infusion therapy devices, enteral feeding pumps, and medical furniture.
End User:
a. Patients: Individuals who require home medical equipment for self-care and management of chronic conditions.
b. Caregivers: Family members or professional caregivers who assist patients in using and managing home medical equipment.
c. Healthcare Facilities: Home healthcare agencies, nursing homes, and assisted living facilities that use medical equipment to provide care to patients in a home setting.
Distribution Channel:
a. Online Retailers: E-commerce platforms that sell home medical equipment directly to consumers.
b. Offline Retailers: Physical stores, pharmacies, and medical supply stores that offer home medical equipment.
c. Healthcare Providers: Hospitals, clinics, and healthcare facilities that provide home medical equipment as part of their services.
Recent Product Launch In The Market
In August 2021, ResMed, a global leader in digital health and sleep apnea treatment, launched AirSense 11, the company's next-generation PAP (positive airway pressure) device designed to help hundreds of millions of people worldwide with sleep apnea and stay on therapy to treat and manage obstructive sleep apnea.
In March 2020, Invacare Corporation announced the launch of front-wheel drive power mobility, the Invacare AVIV FX Power Wheelchair that has a unique identity that conveys a promise of design, technology, and performance.
Geography:
The market can be segmented based on regions, such as North America, Europe, Asia Pacific, Latin America, and Middle East & Africa. Each region may have distinct market dynamics, regulatory frameworks, and healthcare systems impacting the demand and availability of home medical equipment.
Connectivity and Technology:
With the rise of digital health solutions, home medical equipment can be segmented based on connectivity features and technological capabilities. This includes devices that integrate with mobile apps, telehealth platforms, and remote monitoring systems for data tracking, analysis, and communication with healthcare providers.
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Competitive Landscape:
Medtronic plc
ResMed Inc.
Abbott Laboratories
Becton, Dickinson and Company
Hill-Rom Holdings, Inc.
Invacare Corporation
Philips Healthcare
Drive DeVilbiss Healthcare
Fisher & Paykel Healthcare Limited
Cardinal Health, Inc.
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