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2020

Home Medical Equipment Market

Home Medical Equipment Market Size, Share, Competitive Landscape and Trend Analysis Report by Functionality (Therapeutic Equipment [Home Respiratory Therapy Equipment, Home IV Equipment, Home Dialysis Equipment, and Other Home Therapeutic Equipment), Patient Monitoring Equipment [Blood Glucose Monitors, Blood Pressure Monitors, Holter Monitors, Peak Flow Meters, Apnea Monitors, Heart Rate Monitors, Baby Monitors, Electronic Thermometers, and Coagulation Monitors], and Mobility Assist & Patient Support Equipment (Wheelchairs, Mobility Scooters, Walking Assist Devices, Medical Furniture, and Bathroom Safety Equipment) and Distribution Channel (Pharmacies, Retail Medical Stores and Online Retailers): Global Opportunity Analysis and Industry Forecast, 2020-2027

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Author's: Trupti Wadekar | Roshan Deshmukh
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The global home medical equipment market size was valued at $30,545.34 million in 2019, and is estimated to reach $56,457.87 million by 2027, registering a CAGR of 6.1% from 2020 to 2027. Home medical equipment are medical devices that offer safe, convenient, cost-effective, and suitable environment to patients within their home. The home medical equipment market has transformed within recent years, owing to increase in prevalence of various chronic diseases across the globe. Further, oxygen-related products in home medical equipment are gaining high adoption, due to significant increase in incidence of chronic obstructive pulmonary disease (COPD) worldwide. Numerous devices are used for patient care at home, for example, infusion pumps, wheel chair, apnea monitors, glucose meters, and cannula. For instance, glucose meters or glucometers are routinely used at home to assess the level of glucose in blood for diabetics. Further, new technologies such as needle-free diabetic care, medication administration equipment, and durable medical equipment, such as medical beds and lift chairs, propel the home medical equipment market growth. However, high cost associated with these devices is anticipated to hamper the growth of home medical equipment market.

The growth of the global home medical equipment market is driven by the increase in incidence of chronic diseases and considerable rise in geriatric population across the globe. Furthermore, technological advancements in home care medical equipment such as smaller size, portability and ease to access contributes to the market growth. However, surge in concerns related to patient safety and difficulty in adapting to medical devices restrain the growth. The growth potential in the emerging economies of Asia-Pacific is expected to provide numerous opportunities for market expansion during the forecast period.

Home-Medical-Equipment--Market-2020-2027

Global Home Medical Equipment Market Segmentation

The global home medical equipment market is segmented into functionality, distribution channel, and region. By functionality, the market is divided into therapeutic equipment, patient monitoring equipment, and mobility assist & patient support equipment. The therapeutic equipment is further classified into home respiratory therapy equipment, home IV equipment, home dialysis equipment, and other home therapeutic equipment. The market by home respiratory equipment is divided into continuous positive airway pressure equipment, oxygen delivery equipment, ventilators, nebulizers, and humidifiers. The continuous positive airway pressure equipment is categorized into CPAP machines, CPAP masks & related interfaces, CPAP accessories, and oxygen delivery equipment. 

The market based on oxygen delivery equipment is segmented into oxygen concentrators, home liquid oxygen containers, oxygen cannula, and other home oxygen delivery equipment. By home IV equipment, the market is divided into IV pumps, IV administration, and IV accessories. Based on home dialysis equipment, the market is classified into home peritoneal dialysis product, home hemolysis product, and other home therapeutic equipment. The other home therapeutic equipment is sub-segmented into home physical therapy equipment, home negative pressure wound therapy devices, home braces & related products, home enteral feeding products, home automated external defibrillators, and home muscle & nerve stimulators. By patient monitoring equipment, the market is segmented into blood glucose monitors, blood pressure monitors, Holter monitors, peak flow meters, apnea monitors, heart rate monitors, baby monitors, electronic thermometers, and coagulation monitor. 

Home Medical Equipment Market
By Functionality
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Mobility Assist & Patient Support Equipment is projected as one of the most lucrative segments.

The mobility assists & patient support equipment divides the market into mobility assist equipment. The mobility assist equipment is further divided into wheelchairs, mobility scooters, walking assist devices, medical furniture, and bathroom safety equipment. By wheelchair, the market is segmented into manual wheelchairs and powered wheelchairs. The walking assist devices are categorized into walkers & rollators, canes & walking sticks, and crutches. Based on medical furniture, the market is classified into lift chairs, medical beds, stair lifts, and medical furniture accessories. By bathroom safety equipment, it is fragmented into bars, grips & rails, shower chairs, elevated toilet seats, and commodes.

Functionality segment review

By functionality, the therapeutic segment accounted for majority of home medical equipment market share in 2019 and is anticipated to continue its dominance throughout the forecast period. This is attributed to increased usage of therapeutic products for home care such as home respiratory therapy products and ventilators.

Home Medical Equipment Market
By Distribution Channel
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Retail Pharmacy is projected as one of the most lucrative segments.

By region, it is analyzed across North America, Europe, Asia-Pacific, and LAMEA. North America accounted for the largest market share in the home medical equipment market in 2019 and is expected to retain its dominance throughout the forecast period. This is attributed to the surge in chronic diseases such as asthma, diabetes, high blood pressure, and others in this region. However, Asia-Pacific is anticipated to grow at the fastest rate during the forecast period owing to surge in disposable income, rise in awareness among people toward benefits of homecare medical devices. 

The major companies profiled in the report include Abbott Laboratories, B Braun Melsungen Ag, Baxter International Incorporated, Becton, Dickinson and Company, General Electric Company, Hill-Rom Holdings Incorporated, Johnson & Johnson, Medtronic plc, and Smith & Nephew plc. The other companies that provide home medical equipment are Arkray Incorporated, Carefusion Corporation, Invacare Corporation, Medline Industries Incorporated, Omron Corporation, Resmed Corporation, and Smiths Group plc.

Home Medical Equipment Market
By Region
2027
North America 
Europe
Asia-Pacific
LAMEA

Asia-Pacific region would exhibit the highest CAGR of 7.4% during 2020-2027.

Key Benefits For Stakeholders

  • The home medical equipment market analysis is based on a comprehensive analysis of key developments in the industry.
  • The development strategies adopted by key market players are enlisted to understand the competitive scenario of the global home medical equipment market.
  • The study provides an in-depth analysis of the market trends to elucidate the imminent investment pockets.
  • The global home medical equipment market trends are studied from 2019 to 2027.
  • Information about key drivers, restrains, and opportunities and their impact analysis on the market size is provided.
  • Porter’s five forces analysis illustrates the potency of buyers and suppliers operating in the industry.
  • The quantitative analysis of the global home medical equipment market from 2020 to 2027 is provided to determine the market potential

Home Medical Equipment Market Report Highlights

Aspects Details
Home Medical Equipment Market By FUNCTIONALITY
By FUNCTIONALITY
  • Therapeutic Equipment
    • Home respiratory therapy equipment
    • Continuous Positive Airway Pressure Equipment
  • CPAP Machines
    • CPAP Masks & Related Interfaces
  • CPAP Accessories
    • Oxygen delivery equipment
  • Oxygen Concentrators
  • Home Liquid Oxygen Containers
  • Oxygen Cannula
  • Other Home Oxygen Delivery Equipment
    • Ventilators
    • Nebulizers
    • Humidifiers
    • Home IV Equipment
    • IV Pumps
    • IV Administration
    • IV Accessories
    • Home Dialysis Equipment
    • Home Peritoneal Dialysis Product
    • Home Hemolysis Product
    • Other Home Therapeutic Equipment
    • Home Physical Therapy Equipment
    • Home Negative Pressure Wound Therapy Devices
    • Home Braces & Related Products
    • Home Enteral Feeding Products
    • Home Automated External Defibrillators
    • Home Muscle & Nerve Stimulators
    • Patient Monitoring Equipment
    • Blood Glucose Monitors
    • Blood Pressure Monitors
    • Holter Monitors
    • Peak Flow Monitors
    • Apnea Monitors
    • Heart Rate Monitors
    • Baby Monitors
    • Electronic Thermometers
    • Coagulation Monitors
    • Others
    • Mobility Assist & Patient Support Equipment
    • Wheelchairs
    • Manual Wheelchairs
    • Powered Wheelchairs
    • Mobility Scooters
    • Walking Assist Devices
    • Walkers & Rollators
    • Canes & Walking Sticks
    • Crutches
    • Medical Furniture
    • Lift Chairs
    • Medical Beds
    • Stair Lifts
    • Medical Furniture Accessories
    • Bathroom Safety Equipment
    • Bars, Grips & Rails
    • Shower Chairs
    • Elevated Toilet Seats
    • Commodes
Home Medical Equipment Market By DISTRIBUTION CHANNEL
By DISTRIBUTION CHANNEL
  • Hospital Pharmacies
  • Retail medical stores
  • Online retailer
Home Medical Equipment Market By Region
By Region
  • North America 
  • Europe 
  • Asia-Pacific 
  • LAMEA 
Key Market Players
Key Market Players

HILL-ROM HOLDINGS, INC, MEDTRONIC PLC, JOHNSON & JOHNSON (DEPUY SYNTHES), CAIRE INC, INOGEN, INC, SUNRISE MEDICAL (US) LLC, GENERAL ELECTRIC COMPANY (GE HEALTHCARE), SMITH & NEPHEW PLC, ABBOTT LABORATORIES, O2 CONCEPTS, LLC, KONINKLIJKE PHILIPS N.V. (PHILIPS RESPIRONICS), BECTON, DICKINSON AND COMPANY, BAXTER INTERNATIONAL INC, B. BRAUN MELSUNGEN AG, INVACARE CORPORATION, RESMED INC, DRIVE DEVILBISS HEALTHCARE, CONVATEC GROUP PLC

Analyst Review

Home medical equipment are devices used for treatment, assistance, and monitoring purposes for people suffering from chronic medical conditions. The rise in geriatric population worldwide has led to high demand for home medical equipment, attributed to the factor that elderly people are highly prone to chronic medical conditions that require continuous monitoring. The medical equipment available in the hospitals cause high financial expenditure, while the use of home medical equipment causes fewer expenses reducing the cost of treatment. 

The rise in prevalence of chronic diseases and increase in healthcare funding that may encourage the R&D activities for home medical equipment are major factors that drive the market growth. In addition, rise in geriatric population and increase in government support for R&D activities fuel the growth further. However, limited expertise for home settings and rise in reimbursement cuts may hamper the market growth.

The usage of home medical equipment is highest in 2019, owing to the increase in funding for the R&D activities in the field of home medical equipment, and high prevalence of chronic diseases. Further, the mobility assist & patient support equipment is expected to be the fastest growing segment throughout the forecast period, owing to rise in health awareness and growth in geriatric population. Such factors will promote the growth of global home medical equipment market during the forecast period.  

Author Name(s) : Trupti Wadekar | Roshan Deshmukh
Frequently Asked Questions?

No, there is no value chain analysis provided in the Home Medical Equipment Market report

The key trends in the Home Medical Equipment Market are rise in prevalence of chronic diseases such as asthma, diabetes, and COPD, surge in geriatric population, and technological advancements in home medical equipment

The total market value of Home Medical Equipment Market is $30,545.34 million in 2019

The forecast period in the report is from 2020 to 2027

The market value of Home Medical Equipment Market in 2020 was $37,206.76 Million

The base year for the report is 2019

Yes, Home Medical Equipment companies are profiled in the report

The top companies that hold the market share in Home Medical Equipment Market are Abbott, B Braun, Baxter, Becton, Dickinson & Company, Medtronic, GE Healthcare, and Invacare.

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Home Medical Equipment Market

Global Opportunity Analysis and Industry Forecast, 2020-2027