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Global Home Medical Equipment Market Size, Trends, Report, Forecast: By Functionality: Therapeutic Equipment, CPAP Machines, CPAP Accessories, Oxygen Concentrators, Home Liquid Oxygen Containers, Oxygen Cannula, Others; By Distribution Channel; By End User; Regional Analysis; Patent Analysis; Supplier Landscape; 2024-2032
Global Home Medical Equipment Market Outlook
The global home medical equipment market value was USD 36.6 billion in 2023, driven by the growing prevalence of chronic diseases across the globe. The market size is anticipated to grow at a CAGR of 6.2% during the forecast period of 2024-2032 to achieve a value of USD 62.9 billion by 2032.
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North America Accounts for a Considerable Share of the Market for Home Medical Equipmen
North America represents a significant share of the home medical equipment industry. This can be attributed to the surge in chronic diseases such as asthma, diabetes, and high blood pressure, among others. The growing trend of home healthcare in the region owing to high healthcare expenditure and increasing disposable incomes is also surging the demand for home medical equipment. With the increasing geriatric population with various health issues in the region, the demand for patient monitoring equipment is witnessing robust growth. Moreover, various insurance companies are increasingly offering favourable insurance policies for home healthcare, which is fuelling the growth of the home medical equipment industry.
The increasing research activities to develop innovative home medical equipment is estimated to bolster the market growth. Meanwhile, the Asia Pacific is expected to grow in the forecast period owing to the increasing disposable income and the rising awareness about the benefits of homecare medical devices. The rising popularity of home healthcare in the region, in the wake of the coronavirus outbreak, is surging the demand for home medical equipment, which is estimated to significantly contribute to the growth of the market in the forecast period.
Home Medical Equipment: Market Segmentation
Home medical equipment refers to medical devices that are used at home to enhance the quality of life of patients. The devices offer safe, convenient, and cost-effective monitoring, diagnostics, and assistance to patients at home. They are typically used for patients who are cared by nonprofessional caregivers or family members from homes or other private facilities.
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The major functionalities of home medical equipment are:
- Therapeutic Equipment
- CPAP Machines
- CPAP Accessories
- Oxygen Concentrators
- Home Liquid Oxygen Containers
- Oxygen Cannula
- Patient Monitoring Equipment
- Mobility Assist and Patient Support Equipment
- Others
Based on distribution channel, the market is divided into:
- Hospital Pharmacies
- Retail Medical Stores
- Online Retailer
The EMR report looks into the regional markets of home medical equipment like North America, Europe, the Asia Pacific, Latin America, and the Middle East and Africa.
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Increasing Prevalence of Chronic Illnesses Globally to Drive the Growth of the Home Medical Equipment Industry
The rising incidences of chronic diseases and rising geriatric population are driving the growth of home medical equipment industry. With the growing prevalence of diseases such as cardiovascular disorders, diabetes, sleep disorders, among others, the demand for patient monitoring equipment for routine checkup is significantly surging, hence bolstering the market growth. The safety, convenience, and cost-effectiveness of home medical equipment makes it ideal for home usage, hence invigorating the market growth. Technological advancements are leading to the development of home care medical equipment with smaller size, portability, ease of usage, and enhanced accessibility, which is providing further impetus to the market growth.
The advent of new technologies like needle-free diabetic care, medication administration equipment, and durable medical equipment, such as lift chairs and medical beds, are estimated to propel the growth of the home medical equipment industry. As home medical equipment aids in enhancing the cost-effectiveness of clinical testing procedures and continuous monitoring due to the rising healthcare costs, the market for home medical equipment is expected to propel the growth in the forecast period.
Key Industry Players in the Global Home Medical Equipment Market
The report presents a detailed analysis of the following key players in the global home medical equipment market, looking into their capacity, market shares, and latest developments like capacity expansions, plant turnarounds, and mergers and acquisitions:
- Abbott Laboratories
- Baxter International Inc.
- Becton, Dickinson and Company
- Hill-Rom Holdings, Inc.
- Invacare Corporation
- Others
The comprehensive report looks into the macro and micro aspects of the industry. The EMR report gives an in-depth insight into the market by providing a SWOT analysis as well as an analysis of Porter’s Five Forces model.
| REPORT FEATURES | DETAILS |
|---|---|
| Base Year | 2023 |
| Historical Period | 2017-2023 |
| Forecast Period | 2024-2032 |
| Scope of the Report |
Historical and Forecast Trends, Industry Drivers and Constraints, Historical and Forecast Market Analysis by Segment:
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| Breakup by Functionality |
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| Breakup by Distribution Channel |
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| Breakup by End User |
|
| Breakup by Region |
|
| Market Dynamics |
|
| Supplier Landscape |
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| Companies Covered |
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| Report Price and Purchase Option | Explore our purchase options that are best suited to your resources and industry needs. |
| Delivery Format | Delivered as an attached PDF and Excel through email, with an option of receiving an editable PPT, according to the purchase option. |
*At Expert Market Research, we strive to always give you current and accurate information. The numbers depicted in the description are indicative and may differ from the actual numbers in the final EMR report.
1 Preface
1.1 Objectives of the Study
1.2 Key Assumptions
1.3 Report Coverage – Key Segmentation and Scope
1.4 Research Methodology
2 Executive Summary
3 Global Home Medical Equipment Market Overview
3.1 Global Home Medical Equipment Market Historical Value (2017-2023)
3.2 Global Home Medical Equipment Market Forecast Value (2024-2032)
4 Global Home Medical Equipment Market Landscape
4.1 Global Home Medical Equipment Developers Landscape
4.1.1 Analysis by Year of Establishment
4.1.2 Analysis by Company Size
4.1.3 Analysis by Region
4.2 Global Home Medical Equipment Product Landscape
4.2.1 Analysis by Functionality
4.2.2 Analysis by Distribution Channel
4.2.3 Analysis by End User
5 Global Home Medical Equipment Market Dynamics
5.1 Market Drivers and Constraints
5.2 SWOT Analysis
5.3 Porter’s Five Forces Model
5.4 Key Demand Indicators
5.5 Key Price Indicators
5.6 Industry Events, Initiatives, and Trends
5.7 Value Chain Analysis
6 Global Home Medical Equipment Market Segmentation
6.1 Global Home Medical Equipment Market by Functionality
6.1.1 Market Overview
6.1.2 Therapeutic Equipment
6.1.3 CPAP Machines
6.1.4 CPAP Accessories
6.1.5 Oxygen Concentrators
6.1.6 Home Liquid Oxygen Containers
6.1.7 Oxygen Cannula
6.1.8 Patient Monitoring Equipment
6.1.9 Mobility Assist and Patient Support Equipment
6.1.10 Others
6.2 Global Home Medical Equipment Market by Distribution Channel
6.2.1 Market Overview
6.2.2 Hospital Pharmacies
6.2.3 Retail Medical Pharmacies
6.2.4 Online Stores
6.3 Global Home Medical Equipment Market by End User
6.3.1 Market Overview
6.3.2 Hospitals
6.3.3 Home Care Settings
6.3.4 Others
6.4 Global Home Medical Equipment Market by Region
6.4.1 Market Overview
6.4.2 North America
6.4.3 Europe
6.4.4 Asia Pacific
6.4.5 Latin America
6.4.6 Middle East and Africa
7 North America Home Medical Equipment Market
7.1 Market Share by Country
7.2 United States of America
7.3 Canada
8 Europe Home Medical Equipment Market
8.1 Market Share by Country
8.2 United Kingdom
8.3 Germany
8.4 France
8.5 Italy
8.6 Others
9 Asia Pacific Home Medical Equipment Market
9.1 Market Share by Country
9.2 China
9.3 Japan
9.4 India
9.5 ASEAN
9.6 Australia
9.7 Others
10 Latin America Home Medical Equipment Market
10.1 Market Share by Country
10.2 Brazil
10.3 Argentina
10.4 Mexico
10.5 Others
11 Middle East and Africa Home Medical Equipment Market
11.1 Market Share by Country
11.2 Saudi Arabia
11.3 United Arab Emirates
11.4 Nigeria
11.5 South Africa
11.6 Others
12 Patent Analysis
12.1 Analysis by Type of Patent
12.2 Analysis by Publication year
12.3 Analysis by Issuing Authority
12.4 Analysis by Patent Age
12.5 Analysis by CPC Analysis
12.6 Analysis by Patent Valuation
12.7 Analysis by Key Players
13 Grants Analysis
13.1 Analysis by year
13.2 Analysis by Amount Awarded
13.3 Analysis by Issuing Authority
13.4 Analysis by Grant Application
13.5 Analysis by Funding Institute
13.6 Analysis by NIH Departments
13.7 Analysis by Recipient Organization
14 Funding Analysis
14.1 Analysis by Funding Instances
14.2 Analysis by Type of Funding
14.3 Analysis by Funding Amount
14.4 Analysis by Leading Players
14.5 Analysis by Leading Investors
14.6 Analysis by Geography
15 Partnership and Collaborations Analysis
15.1 Analysis by Partnership Instances
15.2 Analysis by Type of Partnership
15.3 Analysis by Leading Players
15.4 Analysis by Geography
16 Regulatory Framework
16.1 Regulatory Overview
16.1.1 US FDA
16.1.2 EU EMA
16.1.3 INDIA CDSCO
16.1.4 JAPAN PMDA
16.1.5 Others
17 Supplier Landscape
17.1 Abbott Laboratories
17.1.1 Financial Analysis
17.1.2 Product Portfolio
17.1.3 Demographic Reach and Achievements
17.1.4 Mergers and Acquisitions
17.1.5 Certifications
17.2 Baxter International Inc.
17.2.1 Financial Analysis
17.2.2 Product Portfolio
17.2.3 Demographic Reach and Achievements
17.2.4 Mergers and Acquisitions
17.2.5 Certifications
17.3 Becton, Dickinson and Company
17.3.1 Financial Analysis
17.3.2 Product Portfolio
17.3.3 Demographic Reach and Achievements
17.3.4 Mergers and Acquisitions
17.3.5 Certifications
17.4 Hill-Rom Holdings, Inc.
17.4.1 Financial Analysis
17.4.2 Product Portfolio
17.4.3 Demographic Reach and Achievements
17.4.4 Mergers and Acquisitions
17.4.5 Certifications
17.5 Invacare Corporation
17.5.1 Financial Analysis
17.5.2 Product Portfolio
17.5.3 Demographic Reach and Achievements
17.5.4 Mergers and Acquisitions
17.5.5 Certifications
17.6 ARKRAY, Inc.
17.6.1 Financial Analysis
17.6.2 Product Portfolio
17.6.3 Demographic Reach and Achievements
17.6.4 Mergers and Acquisitions
17.6.5 Certifications
17.7 B. Braun Melsungen AG
17.7.1 Financial Analysis
17.7.2 Product Portfolio
17.7.3 Demographic Reach and Achievements
17.7.4 Mergers and Acquisitions
17.7.5 Certifications
17.8 ConvaTec Inc.
17.8.1 Financial Analysis
17.8.2 Product Portfolio
17.8.3 Demographic Reach and Achievements
17.8.4 Mergers and Acquisitions
17.8.5 Certifications
17.9 The Cooper Companies Inc.
17.9.1 Financial Analysis
17.9.2 Product Portfolio
17.9.3 Demographic Reach and Achievements
17.9.4 Mergers and Acquisitions
17.9.5 Certifications
17.10 Johnson & Johnson Services
17.10.1 Financial Analysis
17.10.2 Product Portfolio
17.10.3 Demographic Reach and Achievements
17.10.4 Mergers and Acquisitions
17.10.5 Certifications
17.11 GF HEALTH PRODUCTS, INC.
17.11.1 Financial Analysis
17.11.2 Product Portfolio
17.11.3 Demographic Reach and Achievements
17.11.4 Mergers and Acquisitions
17.11.5 Certifications
17.12 OMRON Corporation
17.12.1 Financial Analysis
17.12.2 Product Portfolio
17.12.3 Demographic Reach and Achievements
17.12.4 Mergers and Acquisitions
17.12.5 Certifications
18 Global Home Medical Equipment Market - Distribution Model (Additional Insight)
18.1 Overview
18.2 Potential Distributors
18.3 Key Parameters for Distribution Partner Assessment
19 Key Opinion Leaders (KOL) Insights (Additional Insight)
20 Company Competitiveness Analysis (Additional Insight)
20.1 Very Small Companies
20.2 Small Companies
20.3 Mid-Sized Companies
20.4 Large Companies
20.5 Very Large Companies
21 Payment Methods (Additional Insight)
21.1 Government Funded
21.2 Private Insurance
21.3 Out-of-Pocket
*Additional insights provided are customisable as per client requirements.
Key Questions Answered in the Report
The home medical equipment market was valued at USD 36.6 billion in 2023.
The market is expected to grow at a CAGR of 6.2% from 2024 to 2032 to reach a value of USD 62.9 billion by 2032.
The increasing incidences of chronic diseases, the rising geriatric population, and the increasing research activities for the development of home medical equipment are driving the growth of home medical equipment industry.
The market is predicted to be fuelled by the growing demand for patient monitoring equipment, the advent of new technologies, and the rising healthcare costs.
The major regions in the industry are North America, Latin America, the Middle East and Africa, Europe, and the Asia Pacific.
Therapeutic equipment, CPAP machines. CPAP accessories, oxygen concentrators, home liquid oxygen containers, oxygen cannula, patient monitoring equipment, and mobility assist and patient support equipment, among others, are the major functionalities of home medical equipment in the industry.
The significant distribution channels in the market are hospital pharmacies, retail medical stores, and online retailers.
The major players in the industry are Abbott Laboratories, Baxter International Inc., Becton, Dickinson and Company, Hill-Rom Holdings, Inc., and Invacare Corporation, among others.
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