Home Medical Equipment Market Estimated to Reach $32,451 million by 2023 | Abbott Laboratories, B Braun Melsungen Ag, Baxter International Incorporated, Becton, Dickinson and Company, General Electric

The Global Home Medical Equipment Market was valued at $21,912 million in 2016, and is estimated to reach $32,451 million by 2023, registering a CAGR of 5.7% from 2017 to 2023. 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 during the recent few years, owing to increase in prevalence of various chronic diseases. Further, oxygen-related products in home medical equipment are gaining high adoption, due to increase in incidence of COPD (chronic obstructive pulmonary disease) cases. 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 market growth.

The growth of the global home medical equipment market is driven by the increase in incidence of chronic diseases and rise in geriatric population. Furthermore, cost-effectiveness of HME and technological advancements are expected to fuel 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.

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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.

Key Benefits for Stakeholders

  • The study provides an in-depth analysis of the market with current trends and future estimations to elucidate the imminent investment pockets.
  • It offers a quantitative analysis from 2016 to 2023, which is expected to enable the stakeholders to capitalize on prevailing market opportunities.
  • Extensive analysis by product elucidates the various types of home medical equipment used for the treatment of diverse chronic diseases.
  • Comprehensive analysis of all geographical regions is provided to determine the prevailing opportunities.
  • Key players are profiled and their strategies are analyzed thoroughly to understand the competitive outlook of the global home medical equipment market.

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Posted by on Monday October 21 2019, 7:04 AM EST. All trademarks acknowledged. Filed under Biotechnology, Business Services, Diagnostics, Featured Press Release, Healthcare, Life Sciences, Medical Devices, Pharmaceuticals. Comments and Trackbacks closed. Follow responses: RSS 2.0

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