Homecare Medical Devices Market Industry Trend and Growth 2016-2026
Homecare Medical Devices Market: Drivers and Restraints
The geriatric population are dependent on assistance for mobility. Wheelchair technology is evolving to provide people with disabilities an ease in mobility. Mobility of these people with disabilities depends on wheelchair which solves the purpose to greater extent. Power and manual wheelchairs are used by people depending on their requirements. Many issues impact the choice of a wheelchair, for instance, some patients look for cost effective devices and reimbursement availability. Medical scooters is a fast growing segment in the global homecare medical devices market owing to its feature of mobility for the aging population and their performance in an outdoor environment. A major driver of the global homecare medical equipment is the growing incidence of Chronic Obstructive Pulmonary Disease (COPD) and other respiratory conditions wherein oxygen is able to improve the quality of life significantly. Portable devices have become affordable and support a mobile lifestyle even while on oxygen. Stationary oxygen concentrators are needed for night use by patients on portable oxygen concentrators during the day. The impact of direct sales through the Internet has brought about distribution channel consolidation, leading to a decrease in the number of distributers in the global homecare equipment market.
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Homecare Medical Devices Market: Segmentation
The homecare medical devices market is classified on the basis of product type, distribution channels and geography.
Based on product type, the global homecare medical devices market is segmented into the following:
Oxygen treatment equipment
Based on distribution channel, the global homecare medical devices market is segmented into the following:
Direct Distribution Channel
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Homecare Medical Devices Market: Overview
According to American Association for Homecare more than 8 Mn Americans depend on durable medical equipment and services at home to treat conditions such as multiple sclerosis, Lou Gehrig's disease, spinal cord injuries, lung disease such as chronic obstructive pulmonary disease (COPD), congestive heart failure, sleep apnea, and diabetes. Fueled by the rising number of elderly people and technological advancements, the global homecare market has experienced significant growth over the past decade. A pivotal factor in the growth of this market has been the increasing healthcare cost, which have shifted the focus of healthcare from hospitals to home. Initiatives taken by governments to support home healthcare further propels the market. However, limited insurance coverage for home healthcare devices and risk to the safety of patients and home care workers are the major deterrents curbing the growth of the market.
Homecare Medical Devices Market: Regional Overview
Region wise, the homecare medical devices market is classified into regions namely, North America, Eastern Europe, Western Europe, Latin America, Japan, Asia Pacific excluding Japan (APEJ), Middle East and Africa (MEA). North America is the largest market for homecare medical devices, followed by Western Europe attributed to the increasing old age population in these regions. Asia Pacific excluding Japan (APEJ) and Japan are growing at significant growth rate which is followed by Middle East & Africa.
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Homecare Medical Devices Market: Key Players
Some of the key players in global homecare medical devices market include AirSep, SeQual, Drive Medical, Graham Field, Inogen, Invacare, Meyra, Nordic / Handicare / Permobil, O2Concepts Oxlife, Philips Respironics, Pride, Sunrise Medica, Teijin and TiLite.
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