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Global Home Medical Equipment Market: By Functionality: Therapeutic Equipment, CPAP Machines, CPAP Accessories, Oxygen Concentrators, Home Liquid Oxygen Containers, Others; By Distribution Channel; Regional Analysis; Historical Market and Forecast (2017-2027); Market Dynamics; Competitive Landscape; Industry Events and Developments
Global Home Medical Equipment Market Outlook
The global home medical equipment market attained a value of about USD 34.44 billion in 2021. The market is further expected to grow in the forecast period of 2022-2027 at a CAGR of 6.20% to reach nearly USD 49.42 billion by 2027.
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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 | 2021 |
| Historical Period | 2017-2021 |
| Forecast Period | 2022-2027 |
| Scope of the Report | Historical and Forecast Trends, Industry Drivers and Constraints, Historical and Forecast Market Analysis by Segment- Functionality, Distribution Channel, Region |
| Breakup by Functionality | Therapeutic Equipment, CPAP Machines, CPAP Accessories, Oxygen Concentrators, Home Liquid Oxygen Containers, Oxygen Cannula, Patient Monitoring Equipment, Mobility Assist and Patient Support Equipment, Others |
| Breakup by Distribution Channel | Hospital Pharmacies, Retail Medical Stores, Online Retailer |
| Breakup by Region | North America, Europe, Asia Pacific, Latin America, Middle East and Africa |
| Market Dynamics | SWOT, Porter's Five Forces, Key Indicators for Price and Demand |
| Competitive Landscape | Market Structure, Company Profiles- Company Overview, Product Portfolio, Demographic Reach and Achievements, Certifications |
| Companies Covered | Abbott Laboratories, Baxter International Inc., Becton, Dickinson and Company, Hill-Rom Holdings, Inc., Invacare Corporation, Others |
| 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. |
*We at Expert Market Research always strive to give you the latest information. The numbers in the article are only indicative and may be different from the actual report.
1 Preface
2 Report Coverage – Key Segmentation and Scope
3 Report Description
3.1 Market Definition and Outlook
3.2 Properties and Applications
3.3 Market Analysis
3.4 Key Players
4 Key Assumptions
5 Executive Summary
5.1 Overview
5.2 Key Drivers
5.3 Key Developments
5.4 Competitive Structure
5.5 Key Industrial Trends
6 Snapshot
6.1 Global
6.2 Regional
7 Industry Opportunities and Challenges
8 Global Home Medical Equipment Market Analysis
8.1 Key Industry Highlights
8.2 Global Home Medical Equipment Historical Market (2017-2021)
8.3 Global Home Medical Equipment Market Forecast (2022-2027)
8.4 Global Home Medical Equipment Market by Functionality
8.4.1 Therapeutic Equipment
8.4.1.1 Market Share
8.4.1.2 Historical Trend (2017-2021)
8.4.1.3 Forecast Trend (2022-2027)
8.4.2 CPAP Machines
8.4.2.1 Market Share
8.4.2.2 Historical Trend (2017-2021)
8.4.2.3 Forecast Trend (2022-2027)
8.4.3 CPAP Accessories
8.4.3.1 Market Share
8.4.3.2 Historical Trend (2017-2021)
8.4.3.3 Forecast Trend (2022-2027)
8.4.4 Oxygen Concentrators
8.4.4.1 Market Share
8.4.4.2 Historical Trend (2017-2021)
8.4.4.3 Forecast Trend (2022-2027)
8.4.5 Home Liquid Oxygen Containers
8.4.5.1 Market Share
8.4.5.2 Historical Trend (2017-2021)
8.4.5.3 Forecast Trend (2022-2027)
8.4.6 Oxygen Cannula
8.4.6.1 Market Share
8.4.6.2 Historical Trend (2017-2021)
8.4.6.3 Forecast Trend (2022-2027)
8.4.7 Patient Monitoring Equipment
8.4.7.1 Market Share
8.4.7.2 Historical Trend (2017-2021)
8.4.7.3 Forecast Trend (2022-2027)
8.4.8 Mobility Assist and Patient Support Equipment
8.4.8.1 Market Share
8.4.8.2 Historical Trend (2017-2021)
8.4.8.3 Forecast Trend (2022-2027)
8.4.9 Others
8.4.9.1 Market Share
8.4.9.2 Historical Trend (2017-2021)
8.4.9.3 Forecast Trend (2022-2027)
8.5 Global Home Medical Equipment Market by Distribution Channel
8.5.1 Hospital Pharmacies
8.5.1.1 Market Share
8.5.1.2 Historical Trend (2017-2021)
8.5.1.3 Forecast Trend (2022-2027)
8.5.2 Retail Medical Stores
8.5.2.1 Market Share
8.5.2.2 Historical Trend (2017-2021)
8.5.2.3 Forecast Trend (2022-2027)
8.5.3 Online Retailer
8.5.3.1 Market Share
8.5.3.2 Historical Trend (2017-2021)
8.5.3.3 Forecast Trend (2022-2027)
8.6 Global Home Medical Equipment Market by Region
8.6.1 Market Share
8.6.1.1 North America
8.6.1.2 Europe
8.6.1.3 Asia Pacific
8.6.1.4 Latin America
8.6.1.5 Middle East and Africa
9 Regional Analysis
9.1 North America
9.1.1 Historical Trend (2017-2021)
9.1.2 Forecast Trend (2022-2027)
9.1.3 Breakup by Country
9.1.3.1 United States of America
9.1.3.2 Canada
9.2 Europe
9.2.1 Historical Trend (2017-2021)
9.2.2 Forecast Trend (2022-2027)
9.2.3 Breakup by Country
9.2.3.1 United Kingdom
9.2.3.2 Germany
9.2.3.3 France
9.2.3.4 Italy
9.2.3.5 Others
9.3 Asia Pacific
9.3.1 Historical Trend (2017-2021)
9.3.2 Forecast Trend (2022-2027)
9.3.3 Breakup by Country
9.3.3.1 China
9.3.3.2 Japan
9.3.3.3 India
9.3.3.4 ASEAN
9.3.3.5 Australia
9.3.3.6 Others
9.4 Latin America
9.4.1 Historical Trend (2017-2021)
9.4.2 Forecast Trend (2022-2027)
9.4.3 Breakup by Country
9.4.3.1 Brazil
9.4.3.2 Argentina
9.4.3.3 Mexico
9.4.3.4 Others
9.5 Middle East and Africa
9.5.1 Historical Trend (2017-2021)
9.5.2 Forecast Trend (2022-2027)
9.5.3 Breakup by Country
9.5.3.1 Saudi Arabia
9.5.3.2 United Arab Emirates
9.5.3.3 Nigeria
9.5.3.4 South Africa
9.5.3.5 Others
10 Market Dynamics
10.1 SWOT Analysis
10.1.1 Strengths
10.1.2 Weaknesses
10.1.3 Opportunities
10.1.4 Threats
10.2 Porter’s Five Forces Analysis
10.2.1 Supplier’s Power
10.2.2 Buyer’s Power
10.2.3 Threat of New Entrants
10.2.4 Degree of Rivalry
10.2.5 Threat of Substitutes
10.3 Key Indicators for Demand
10.4 Key Indicators for Price
11 Value Chain Analysis
12 Competitive Landscape
12.1 Market Structure
12.2 Company Profiles
12.2.1 Abbott Laboratories
12.2.1.1 Company Overview
12.2.1.2 Product Portfolio
12.2.1.3 Demographic Reach and Achievements
12.2.1.4 Certifications
12.2.2 Baxter International Inc.
12.2.2.1 Company Overview
12.2.2.2 Product Portfolio
12.2.2.3 Demographic Reach and Achievements
12.2.2.4 Certifications
12.2.3 Becton, Dickinson and Company
12.2.3.1 Company Overview
12.2.3.2 Product Portfolio
12.2.3.3 Demographic Reach and Achievements
12.2.3.4 Certifications
12.2.4 Hill-Rom Holdings, Inc.
12.2.4.1 Company Overview
12.2.4.2 Product Portfolio
12.2.4.3 Demographic Reach and Achievements
12.2.4.4 Certifications
12.2.5 Invacare Corporation
12.2.5.1 Company Overview
12.2.5.2 Product Portfolio
12.2.5.3 Demographic Reach and Achievements
12.2.5.4 Certifications
12.2.6 Others
13 Industry Events and Developments
List of Key Figures and Tables
1. Global Home Medical Equipment Market: Key Industry Highlights, 2017 and 2027
2. Global Home Medical Equipment Historical Market: Breakup by Functionality (USD Billion), 2017-2021
3. Global Home Medical Equipment Market Forecast: Breakup by Functionality (USD Billion), 2022-2027
4. Global Home Medical Equipment Historical Market: Breakup by Distribution Channel (USD Billion), 2017-2021
5. Global Home Medical Equipment Market Forecast: Breakup by Distribution Channel (USD Billion), 2022-2027
6. Global Home Medical Equipment Historical Market: Breakup by Region (USD Billion), 2017-2021
7. Global Home Medical Equipment Market Forecast: Breakup by Region (USD Billion), 2022-2027
8. North America Home Medical Equipment Historical Market: Breakup by Country (USD Billion), 2017-2021
9. North America Home Medical Equipment Market Forecast: Breakup by Country (USD Billion), 2022-2027
10. Europe Home Medical Equipment Historical Market: Breakup by Country (USD Billion), 2017-2021
11. Europe Home Medical Equipment Market Forecast: Breakup by Country (USD Billion), 2022-2027
12. Asia Pacific Home Medical Equipment Historical Market: Breakup by Country (USD Billion), 2017-2021
13. Asia Pacific Home Medical Equipment Market Forecast: Breakup by Country (USD Billion), 2022-2027
14. Latin America Home Medical Equipment Historical Market: Breakup by Country (USD Billion), 2017-2021
15. Latin America Home Medical Equipment Market Forecast: Breakup by Country (USD Billion), 2022-2027
16. Middle East and Africa Home Medical Equipment Historical Market: Breakup by Country (USD Billion), 2017-2021
17. Middle East and Africa Home Medical Equipment Market Forecast: Breakup by Country (USD Billion), 2022-2027
18. Global Home Medical Equipment Market Structure
Key Questions Answered in the Report
In 2021, the global home medical equipment market attained a value of nearly USD 34.44 billion.
The market is projected to grow at a CAGR of 6.20% between 2022 and 2027.
The market is estimated to witness a healthy growth in the forecast period of 2022-2027 to reach about USD 49.42 billion by 2027.
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.
Analyst Review
The global home medical equipment market attained a value of nearly USD 34.44 billion in 2021, driven by the rising incidence of chronic disease. Aided by the growing technological advancements, the market is expected to witness a further growth in the forecast period of 2022-2027, growing at a CAGR of 6.20%. The market is projected to reach about USD 49.42 billion by 2027.
EMR’s meticulous research methodology delves deep into the market, covering the macro and micro aspects of the industry. Based on its functionality, the home medical equipment industry can be segmented into 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. On the basis of distribution channels, the market is divided into hospital pharmacies, retail medical stores, and online retailer. The major regional markets for home medical equipment are North America, Europe, the Asia Pacific, Latin America, and the Middle East and Africa. The key players in the above market include Abbott Laboratories, Baxter International Inc., Becton, Dickinson and Company, Hill-Rom Holdings, Inc., and Invacare Corporation, among others.
EMR’s research methodology uses a combination of cutting-edge analytical tools and the expertise of their highly accomplished team, thus, providing their customers with market insights that are accurate, actionable, and help them remain ahead of their competition.
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