2025 Home Medical Equipment (HME) Devices Industry Trends Report: Long-Term Outlook Through 2034

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How Large Will the Home Medical Equipment (HME) Devices Market Size By 2025?
The market size for home medical equipment (hme) devices has seen robust growth in recent years. The size of the market is set to increase from $36.81 billion in 2024 to $39.9 billion in 2025, with a compound annual growth rate (CAGR) of 8.4%. The significant growth during the historical period is due to factors such as the expansion of home-based care programs, growing consciousness about monitoring personal health, increased global healthcare spending, support from government initiatives, and the increased use of portable medical devices.

How Big Is the Home Medical Equipment (HME) Devices Market Size Expected to Grow by 2029?
In the coming years, a significant surge is anticipated in the home medical equipment (HME) devices market, which is projected to expand to USD 56.13 billion by 2029 at a CAGR of 8.9%. Factors contributing to this growth during the forecast period include the growing amalgamation of telehealth services, increased popularity of remote patient monitoring, advancements in wearable medical technology, the push to decrease hospital readmission rates, and heightened investment in home healthcare infrastructure. There will also be significant trends during this forecast period such as improvements in the wireless connectivity of medical devices, more advanced data analytics for patient monitoring, the creation of user-friendly home care devices, ingenuity in compact and portable equipment, and the development of AI-propelled diagnostic tools.

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Which Key Market Drivers Powering Home Medical Equipment (HME) Devices Market Expansion and Growth?
The movement towards remote patient monitoring is projected to fuel the advancement of the home medical equipment devices market in the future. Remote Patient Monitoring (RPM) is a technology-based approach aimed at tracking a patient's health and medical conditions remotely, typically beyond the confines of conventional healthcare environments. RPM incorporates the use of tools such as portable sensors, mobile applications or other electronic devices capable of gathering health-related data (including heart rate, blood pressure, sugar levels, and so on) and transmitting it to healthcare professionals. The transition to remote patient monitoring is facilitated by progress in wearable technology which, in turn, allows for unbroken, live collection of health information, improves chronic condition management and elevates patient care beyond typical healthcare settings. Home medical equipment devices play a crucial role in remote patient monitoring by giving patients the opportunity to monitor their health statuses from their residences. Moreover, this enables healthcare providers to keep tabs on patient improvements, alter treatments, and step in when required without the need for regular physical visits. For example, the Insurance Thought Leadership Inc., a US-based insurance and risk management information organization, reported that in April 2024, telehealth usage witnessed a significant increase to over 53 million medicare participants, with about 91% of health systems running telehealth schemes. Therefore, the progression towards remote patient monitoring contributes to the growth in the home medical equipment devices market.

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What Are the Key Trends Driving Home Medical Equipment (HME) Devices Market Growth?
Leading businesses in the home medical equipment devices market are concentrating on innovating new offerings, such as wearable health tracking devices, to deliver accurate, immediate healthcare monitoring and enhance patients' health outcomes. These wearable health monitoring devices represent sophisticated technology designed to constantly monitor critical health data like heart rate, blood pressure, and glucose levels. For example, in September 2024, Abbott Laboratories, a healthcare firm based in the United States, introduced Lingo, the country's first over-the-counter continuous glucose monitoring (CGM) system. Lingo is tailored for adults who are not on insulin therapy and allows them to keep track of their glucose levels via a small adhesive sensor that pairs with a mobile app. The objective of Lingo is to enable easy access to glucose tracking for health-conscious people and those handling prediabetes.

What Are the Emerging Segments in the Home Medical Equipment (HME) Devices Market?
The home medical equipment (hme) devices market covered in this report is segmented -

1) By Product Type: Oxygen Equipment, Mobility Assistive Devices, Respiratory Therapy Equipment, Other Products
2) By Application: Home Healthcare, Long-term Care, Other Applications
3) By Distribution Channel: Online Retail, Hospital Pharmacies, Retail Pharmacies, Other Distribution Channels
4) By End-User: Adults, Pediatric, Geriatric

Subsegments:
1) Oxygen Equipment: Oxygen Concentrators, Oxygen Cylinders, Liquid Oxygen Systems, Oxygen Masks, Oxygen Regulators
2) Mobility Assistive Devices: Wheelchairs, Walking Aids, Scooters, Lift Chairs, Stair Lifts
3) Respiratory Therapy Equipment: Ventilators, CPAP Machines, BiPAP Machines, Nebulizers, Inhalers
4) Other Products: Home Dialysis Equipment, Blood Pressure Monitors, Temperature Monitors, Pulse Oximeters, Patient Lifting Equipment

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Who Are the Global Leaders in the Home Medical Equipment (HME) Devices Market?
Major companies operating in the home medical equipment (HME) devices market are Cardinal Health Inc., Abbott Laboratories, Medtronic plc, 3M Health Care, Medline Industries Inc., Fresenius Medical Care AG & Co. KGaA, Becton Dickinson and Company, Koninklijke Philips N.V., Stryker Corporation, GE HealthCare, Baxter International Inc., Smith & Nephew, ResMed Inc., Fisher and Paykel Healthcare Corporation Limited, Rotech Healthcare Inc., Invacare Corporation, Sunrise Medical LLC, Hollister Incorporated, B. Braun SE, Omron Healthcare Inc., Nidek Medical Products Inc.

Which are the Top Profitable Regional Markets for the Home Medical Equipment (HME) Devices Industry?
North America was the largest region in the home medical equipment (HME) devices market in 2024. Asia-Pacific is expected to be the fastest-growing region in the forecast period. The regions covered in the home medical equipment (HME) devices market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa.

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