Home Medical Equipment Market Size to Reach US$ 52.23 Billion During 2022-2027

At 6.40% CAGR, Global Home Medical Equipment Market Size & Share to Surpass US$ 52.23 Billion by 2027 | Industry Trends, Share & Forecast Report by IMARC Group

SHERIDAN, WYOMING, USA, November 25, 2022 /EINPresswire.com/ — IMARC Group has recently released a new research study “Home Medical Equipment Market: Global Industry Trends, Share, Size, Growth, Opportunity and Forecast 2022-2027”, offers a detailed analysis of the market drivers, segmentation, growth opportunities, trends, and competitive landscape to understand the current and future market scenarios.

What are the growth prospects of the home medical equipment industry ?

The global home medical equipment market size reached US$ 35.5 Billion in 2021. Looking forward, IMARC Group expects the market to reach a value of US$ 52.23 Billion by 2027, exhibiting a growth rate (CAGR) of 6.40% during 2022-2027.

Covid-19 Impact:

We are regularly tracking the direct effect of COVID-19 on the market, along with the indirect influence of associated industries. These observations will be integrated into the report.

What is a the home medical equipment market ?

Home medical equipment refer to medical devices used in a home care setting. They comprise reservoirs, high-pressure cylinders, oxygen accessories and supplies, concentrators, home invasive mechanical ventilators, continuous positive airway pressure (CPAP) machines, respiratory assist devices (RAD), oxygen conserving appliances, intermittent positive pressure breathing (IPPB) instruments, and nebulizers.

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Home medical equipment monitor the health of patients regularly and provide a detailed report to the caregiver. They also increase the safety of the patient while offering enhanced healthcare. As a result, home medical equipment are extensively available across hospital pharmacies, online retailers, and medical stores.

What are the major market drivers in a home medical equipment market ?

The escalating prevalence of serious illnesses, such as arthritis, diabetes, influenza, pneumonia, cancer, stroke, septicemia, and kidney, heart, respiratory, and Alzheimer’s disease, is among the primary factors driving the home medical equipment market. Besides this, the growing demand for oxygen-related products, owing to the increase in the incidence of chronic obstructive pulmonary disease (COPD) across the globe, is further augmenting the market growth.

Moreover, the rising utilization of innovative home medical equipment, including needle-free diabetic care, medication administration tools, medical beds, and lift chairs, is also catalyzing the global market. Apart from this, the elevating geriatric population and the expanding healthcare industry are acting as significant growth-inducing factors.

Additionally, the increasing awareness among the masses about the benefits of home care instruments is also stimulating the market growth. Furthermore, the inflating number of investments by the leading players in research and development (R&D) activities to integrate advanced technologies, such as wearable devices, telehealth, and mobile health software, are expected to bolster the home medical equipment market in the coming years.

The report has been segmented the market into following categories:

Breakup by Equipment Type:

Therapeutic Equipment
o Respiratory Therapy Equipment
o Dialysis Equipment
o Intravenous Equipment
o Others

Patient Monitoring Equipment
o Conventional Monitors
o Telemedicine Patient Monitoring Equipment

Mobility Assist and Patient Support Equipment
o Mobility Assist Equipment
o Medical Furniture
o Bathroom Safety Equipment

Breakup by Distribution Channel:
o Retail Medical Stores
o Online Retailers
o Hospital Pharmacies

By Geography:
• North America (United States, Canada)
• Europe (Germany, France, United Kingdom, Italy, Spain, Others)
• Asia Pacific (China, Japan, India, Australia, Indonesia, Korea, Others)
• Latin America (Brazil, Mexico, Others)
• Middle East and Africa (United Arab Emirates, Saudi Arabia, Qatar, Iraq, Other)

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Report Segmentation:

List of Major Key Players:

The major players in the market are Abbott Laboratories
Arkray Inc.
B. Braun Melsungen AG
Baxter International Inc.
Caire Inc. (NGK Spark Plug Co. Ltd.)
Inogen Inc., Invacare Corporation
Koninklijke Philips N.V.
Medline Industries LP, Medtronic plc
OMRON Healthcare Inc. (Omron Corporation)
and Resmed Inc.

Key highlights of the report:

• Market Performance (2016-2021)
• Market Outlook (2022- 2027)
• Porter’s Five Forces Analysis
• Market Drivers and Success Factors
• SWOT Analysis
• Value Chain
• Comprehensive Mapping of the Competitive Landscape

If you need specific information that is not currently within the scope of the report, we can provide it to you as a part of the customization.

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