Global Home Medical Equipment Market Research Report: By Functionality (Therapeutic Equipment, Patient Monitoring Equipment, Mobility Assist & Patient Support Equipment) and By End-User (Hospitals, Emergency Clinics, Homecare Settings) – Forecast to 2027

Market Forecast

Home Medical Equipment Market is expected to cross USD 36,189.9 Million by 2025 at a CAGR of 5.9%.

Market Synopsis

The use of technology in self-health management is rising to reduce the burden on healthcare systems. Moreover, the technological advances in-home medical equipment, along with awareness for technology among individuals for the use of medical equipment is rising the adoption of home medical equipment. The shift in the delivery of many healthcare services from traditional clinical settings to the home will increase the demand for home medical equipment. The provision of the Food and Drug Administration’s (FDA) Medical Device Home Use Initiative promises increased scrutiny of home healthcare equipment on the market. This increased scrutiny will bring out adverse publicity for manufacturers of unsafe home medical equipment and the recall of these hazardous products.

Market Influencer

Rising coverage and favorable reimbursement policies of home medical equipment in developing and developed countries is impacting the growth of the market.

Market Drivers

• Rising incidences of chronic diseases such as diabetes, cancer, kidney failure, stroke, and respiratory disorders. For instance, more than 100 million adults in the US are living with diabetes or prediabetes. The demand for home medical equipment for monitoring and therapeutics is driven by the rising need for managing chronic diseases.


• Technological advancements in healthcare and diagnosis equipment


• Rising healthcare costs and growing need for affordable treatment options


• Increasing geriatric population and change in lifestyle. Currently, 14.5% of the US population is age 65 and above. The rising adoption of home medical equipment among the geriatric population is driving the growth of this market.


• Government initiatives encouraging home healthcare

Market Restraints

• The surge in concerns related to patient safety.

Segmentation

By Functionality 

• Therapeutic Equipment: The therapeutic equipment has been further segmented into home respiratory therapy equipment, home IV equipment, home dialysis equipment, and other home therapeutic equipment. The home respiratory therapy equipment has been segmented into continuous positive airway pressure equipment, ventilators, nebulizers, and humidifiers. The home IV equipment has been classified as IV pumps, IV administration, and IV accessories. Home dialysis equipment has been further sub-segmented into home peritoneal dialysis product and home hemolysis product. The other home therapeutic equipment has been categorized as home physical therapy equipment, home harmful pressure wound therapy devices, home automated external defibrillators, home braces & related products, home enteral feeding products, and home muscle & nerve stimulators.

• Patient Monitoring Equipment: The patient monitoring equipment has been further classified as blood glucose monitors, blood pressure monitors, Holter monitors, apnea monitors, heart rate monitors, baby monitors, electronic thermometers, and coagulation monitors.

• Mobility Assist & Patient Support Equipment: The mobility assist & patient support equipment has been further segmented into wheelchairs, mobility scooters, medical furniture, and bathroom safety equipment. The wheelchairs have been segregated into manual wheelchairs and powered wheelchairs. The mobility scooters have been further classified as walking assist devices, walkers & rollators, canes & walking sticks, and crutches. The medical furniture has been further divided into lift chairs, medical beds, stairlifts, and medical furniture accessories. The bathroom safety equipment includes bars, grips & rails, shower chairs, and others.

By End-User

• Hospitals: The largest segment, an increasing number of patients, and rising financing capabilities of healthcare settings are responsible for the growth of the segment. The growing number of hospitals in different regions of world and government initiatives to improve the healthcare sector is anticipated to propel the growth of this segment.

• Emergency Clinics: Emergency clinics offer the most excellent care along with the primary line of treatment.

• Homecare Settings: The fastest-growing segment. This can be attributed to the rising demand for personal independence and ease-of-use, and the cost-effectiveness of home medical equipment is positively influencing the growth of this segment.

• Others

By Region

• Americas: The largest regional market, the technological advancements, and the increasing prevalence of chronic diseases such as diabetes, cancer, etc., are projected to boost the market growth in this region.

• Europe: The increasing public awareness about the benefits of home medical equipment is leading to a rise in the adoption of home medical equipment.

• Asia-Pacific: The fastest-growing regional market, Asia-Pacific, has been witnessing a surge in the number of geriatric populations. Additionally, an increasing need for affordable healthcare delivery systems is also expected to boost the adoption of home medical equipment. The growth potential in the emerging economies of Asia-Pacific is expected to provide numerous opportunities for market expansion during the forecast period.

• Middle East & Africa: The smallest market due to limited healthcare infrastructure and lack of awareness about home medical equipment in this region.

Key Players

• Arkray Incorporated (Japan)


• Carefusion Corporation (US)


• Invacare Corporation (US)


• Medline Industries Incorporated (US)


• Omron Corporation (Japan)


• Resmed Corporation (US)


• Smiths Group PLC (UK)


• GE Healthcare (US)


• Hoffmann-La Roche Ltd (Switzerland)


• Abbott (US)


• Philips Healthcare (US)


• Stryker (US)

Report Scope:

Report Attribute/Metric	Details
Market Size	USD 36,189.9 Million
CAGR	5.9% (2019-2025)
Base Year	2019
Forecast Period	2020-2027
Historical Data	2018
Forecast Units	Value (USD Million)
Report Coverage	Revenue Forecast, Competitive Landscape, Growth Factors, and Trends
Segments Covered	Functionality and End-User
Geographies Covered	North America, Europe, Asia-Pacific, and Rest of the World (RoW)
Key Vendors	Arkray Incorporated (Japan), Carefusion Corporation (US), Invacare Corporation (US), Medline Industries Incorporated (US), Omron Corporation (Japan), Resmed Corporation (US), Smiths Group PLC (UK), GE Healthcare (US), Hoffmann-La Roche Ltd (Switzerland), Abbott (US), Philips Healthcare (US), Stryker (US)
Key Market Opportunities	Rising coverage and favorable reimbursement policies of home medical equipment in developing and developed countries
Key Market Drivers	Technological advancements in healthcare and diagnosis equipment Rising incidences of chronic diseases

Frequently Asked Questions (FAQ) :

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