The global home medical equipment market size was US$ 33,254 million in 2021. The global home medical equipment market size is forecast to reach US$ 55,912 million by 2030, growing at a compound annual growth rate (CAGR) of 6% during the forecast period from 2022 to 2030.
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Home medical equipment is a type of gadget for patients whose care is provided by a nonprofessional caregiver or a family member in their home or another private facility. It’s sometimes referred to as “durable” medical equipment (DME) because it’s designed to survive frequent use by non-professionals, and it’s safe to use at home.
Factors Influencing Market Growth
The rise in the cases of chronic diseases and the growing geriatric population worldwide drive the global market.
Technical progress in-home care medical equipment like the smaller size, portability, and ease of access is forecast to fuel the global market growth.
The rising problems related to patient safety and difficulty using medical devices may slow down the overall market growth.
Impact Analysis of COVID-19
The COVID-19 pandemic had a positive impact on the global market. The need for home medical devices such as life-supporting and life-sustaining gadgets has increased dramatically since the beginning of COVID-19. However, disruptions in traditional production, supply, and distribution networks resulted in substantial medical supply shortages during the COVID-19 pandemic. As a result, government officials were taking steps to remedy the medical equipment supply chain disruption.
Regional Analysis
North America held dominance in the market in 2021 and is forecast to remain dominant during the forecast period. As a result of the increasing chronic diseases such as diabetes, asthma, high blood pressure, etc. In addition, the rising adoption of home medical equipment among people is due to the surge in popularity of home care patient settings and growing medical investments in countries like the United States. Additionally, the existence several market players are employed in the production and development of the range of home medical equipment. Thus, these factors boost the market growth in the region.
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Leading Competitors
The leading prominent companies profiled in the global home medical equipment market are:
Abbott Laboratories
B. Braun Melsungen AG
Baxter International Inc
General Electric Company (GE Healthcare)
Invacare Corporation
Medtronic PLC
Johnson & Johnson (Depuy Synthes)
Drive Devilbiss Healthcare
Becton, Dickinson, And Company
Hill-Rom Holdings, Inc
Smith & Nephew PLC
Caire Inc.
Other Prominent Players
Scope of the Report
The global home medical equipment market segmentation focuses on Equipment Type, Distribution Channel, and Region.
Segmentation based on Equipment Type
Therapeutic Equipment
o Dialysis Equipment
o Respiratory Therapy Equipment
o Intravenous Equipment
o Other Therapeutic Equipment
Patient Monitoring Equipment
o Telemedicine Patient Monitoring Equipment
o Conventional Monitors
Mobility Assist and Patient Support Equipment
o Mobility Assist Equipment
o Bathroom Safety Equipment
o Medical Furniture
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Segmentation based on Distribution Channel
Retail Medical Stores
Hospital Pharmacies
Online Retailers
Segmentation based on Region
North America
The U.S.
Canada
Mexico
Europe
Western Europe
The UK
Germany
France
Italy
Spain
Rest of Western Europe
Eastern Europe
Poland
Russia
Rest of Eastern Europe
Asia Pacific
China
India
Japan
Australia & New Zealand
ASEAN
Rest of Asia Pacific
Middle East & Africa (MEA)
UAE
Saudi Arabia
South Africa
Rest of MEA
South America
Brazil
Argentina
Rest of South America
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