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Home Medical Equipment Market

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Home medical equipment refers to cost-effective medical devices that help provide safe and effective treatment to patients
Home Medical Equipment
Market -
GLOBAL INDUSTRY INSIGHTS, TRENDS,
OUTLOOK, AND OPPORTUNITY ANALYSIS,
2016-2025
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Home Medical Equipment Market Overview :
Home medical equipment refers to cost-effective medical devices that help provide safe and effective treatment to
patients in the comfort of their home. This significantly reduces stress related to treatment and helps in speedy
recovery of patients and improves their quality of life. Home healthcare equipment is also called durable medical
equipment (DME), as it is projected to tolerate repeated use by non-professionals or the patient, and is appropriate for
use in home settings. It typically includes medical electric equipment such as digital blood pressure monitors, blood
glucose meters, pulse oximeters, and peak flow meters. These devices are available in both hospital and home-use
models, with changing features and capabilities differentiating the models. The term home healthcare equipment is
also applied to products such as breast pumps, nebulizers, and artificial limbs and other prosthetic devices. Personal
hygiene products, electric toothbrushes, and denture cleaners may also be covered under this broad segment. Even
mechanical assist devices, such as wheelchairs, seat lifts, and walkers can be part of home healthcare equipment. It
helps in reducing duration of patients’ stay in hospitals, nursing homes, or clinics.
Growing geriatric population, rising incidence of chronic diseases, and growing healthcare expenditure are some of the
key factors driving growth of the global home medical equipment market. Increasing consumer awareness about the
convenience and cost effectiveness of deploying such products, increase in the patient preference for home-based
care, rising insured population as a result of the Affordable Care Act, technological advancements such as wearable
devices, tele health, mobile health applications, etc. further spur growth of the market.
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Home Medical Equipment Market
On the basis of product type, the global market is segmented into:
Home Tests and Patient Monitoring Equipment
Home Therapeutic Equipment
Patient Support Equipment
In home medical equipment market, North America is the largest geographic region, followed by Europe. This is mainly
attributed to robust healthcare infrastructure, technological advancement, high disposable income, and good
reimbursement policies in the region. In the U.S., provisions of the Obamacare Act that provides health insurance to 30
million uninsured people in the country creates a highly conducive environment for growth of the home medical
equipment market. Increasing demographics and rising healthcare spending in emerging economies such as India and
China are further expected to favor growth of the market in home medical equipment. The market in the Asia Pacific
region is expected to experience high growth rate in the near future due to increasing awareness and shortage of
professional medical services providers in the region. Furthermore, technological innovation have led to development of
advancement products which would augment growth of the market. In the global home medical equipment industry, an
increasing number of mergers and acquisitions and new product launches are the latest trends that have been observed
in the recent past.
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Key players operating in the global home medical equipment market are :
●
AstraZeneca,
●
B. Braun Melsungen AG,
●
Baxter,
●
GE Healthcare,
●
F. Hoffmann-La Roche Ltd,
●
Stryker, Sunrise Medical LLC,
●
ResMed,
●
Philips Healthcare.,
●
Medline Industry,
●
CareFusion Corporation,
●
Abbott Laboratories.
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