U.S. Home Medical Equipment Market Expected to Reach $48.5 Billion by 2035 | AdaptHealth, LLC, Linde PLC, Owens & Minor Inc, Rotech Healthcare

The U.S. home medical equipment market size was valued at $25.0 billion in 2023 and is estimated to reach $48.5 billion by 2035, exhibiting a CAGR of 5.6% from 2024 to 2033. The durable medical equipment segment is expected to register the highest CAGR of 5.7% during the forecast period.

Home medical equipment refers to medical devices and supplies designed for use in residential settings to support the diagnosis, treatment, and management of various medical conditions. These devices range from basic tools such as thermometers and blood pressure monitors to more advanced equipment such as oxygen concentrators, power wheelchairs, and hospital beds. Home medical equipment plays a crucial role in patient care by enabling health monitoring, delivering therapeutic treatments, and providing mobility assistance. It is often prescribed by healthcare professionals to enhance patient comfort, independence, and quality of life, while reducing the need for frequent hospital visits. Proper usage and maintenance of such equipment are essential for ensuring safety and effectiveness in managing health conditions.

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Market Dynamics:

Home medical equipment refers to the medical devices and supplies used by individuals in their homes for the purpose of diagnosis, treatment, and management of various medical conditions. This equipment can range from simple devices such as thermometers and blood pressure monitor to complex equipment such as oxygen concentrators, power wheelchairs, and hospital beds. These devices are used for patient monitoring, therapeutic monitoring, and mobility assisting to help patients.

The major factors driving the growth of U.S. home medical equipment market are rise in prevalence of chronic diseases and increase in demand for these devices for monitoring of patient's condition. The growth in prevalence of chronic diseases, such as diabetes and heart disease, fosters the demand for home medical equipment as these conditions require ongoing care and management. For instance, according to report of Centers for Disease Control and Prevention 2022, in the U.S., 37.3 million people had diabetes, accounting for 11.3% of population. Thus, rise in number of people suffering from diabetes boosts demand for home medical equipment for continuous monitoring of condition, thereby, driving the growth of market.

Market Drivers:

The rise in prevalence of chronic diseases such as diabetes and heart diseases.

The increase in demand for these devices for monitoring patient's condition as they are more cost-effective than inpatient care and reduce the need for hospitalization.

Technological advancements in the medical equipment industry and wearable technology.

Increase in promotional activities by manufacturers.

Growth in awareness about home medical equipment in the U.S.

Segmental Overview:

The U.S. home medical equipment market analysis is segmented into functionality and distribution channel. On the basis of functionality, the market is categorized into therapeutic equipment, patient monitoring equipment, mobility assist & patient support equipment and personal care. On the basis of distribution channel, the market is categorized into offline and online channel.

The home medical equipment market growth is being driven by increased insurance coverage. Many insurance plans now cover home medical equipment, making it more affordable and accessible for patients. This is particularly important for older individuals, who may require a range of medical equipment and supplies to support their health needs. Further, the growth of the home medical equipment market is also being driven by consumer demand. As individuals become more aware of the benefits of home medical equipment, they are increasingly seeking out for these products and services. This includes older individuals as well a younger individual who may require medical support due to chronic health conditions.

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Key Findings of the Study

On the basis of type, the therapeutic equipment segment dominated the market in 2023 and is anticipated to grow at the highest CAGR during the forecast period.

On the basis of distribution channel, the offline channel segment dominated the market in 2023. However, the online channel segment is anticipated to grow at the highest CAGR during the forecast period.

David Correa
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