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The global home medical equipment market was valued at USD 31.56 Billion in 2022 and grew at a CAGR of 6.77% from 2023 to 2032. The market is expected to reach USD 60.76 Billion by 2032. The growth of the home medical equipment market can be attributed to the rising incidence of chronic disorders. Further, the increasing technological advancement has provided lucrative opportunities to the market.
A class of devices known as home medical equipment is used for patients whose treatment is overseen by a family member or non-professional carer from their home or another private facility. As it is suitable for use in the home and meant to endure repeated usage by patients or non-professionals, it is frequently referred to as durable medical equipment. These medical instruments are utilized for testing bodily fluids, tissue, and blood samples, including lateral flow and blood glucose levels. Those limited by their medical condition benefit from home care medical equipment. These ailments could be persistent or just transient; thus, home medical equipment is necessary for managing such ailments.
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Increasing demand for home medical equipment: Investing in dependable, user-friendly medical equipment can help patients prevent worst-case situations and track the symptoms or emergency response to ensure the user receives the care they need. Individuals who have terminal, lifestyle, or chronic illnesses require round-the-clock care and observation. The costs of providing for them can be prohibitively high due to the need for frequent hospital visits. In the long run, owning home medical equipment, such as ECG machines, medical beds, and urine, blood, and glucose analyzers, may be more affordable. Patients benefit from the convenience of home medical equipment and avoid paying a third party extra each time they require testing. Patients who purchase in-home medical equipment, such as wheelchairs and nebulizers, save money that would have been spent on hospital visits or renting these devices. Over time, patients with chronic diseases use various diagnostic tools to assist them in managing their health.
High cost: The pricing range for home medical equipment is $2,000 to USD 100,000. This sum will vary according to the kind of instrument but primarily on the brand and technology it uses to operate. The high cost can lead to limited usage by the patients, and they may prefer to visit the hospital instead.
Rising prevalence of chronic and infectious diseases: Many regions have seen an increase in infectious and chronic diseases due to growing urbanization and industrialization. Numerous factors contribute to these diseases, including poor lifestyle choices and inadequate cleanliness. Furthermore, many infectious disorders are brought on by pollutants like fungi and bacteria. Increased population density brought about by the growing population has accelerated the rate at which illnesses move from person to person. Additionally, there has been a significant rise in hospital-acquired illness cases in recent years, which has led to a decade-long emphasis on at-home medical equipment. Microorganisms and pathogens are present in reusable, non-invasive medical testing tools and can potentially infect patients seriously. In addition, the prevalence of illnesses like diabetes, high cholesterol, heart-related conditions, hypertension, etc., has gone up, particularly in the elderly population. An arrangement that continuously tracks the advancement of the sickness is necessary for the elderly population.
The regions analyzed for the market include North America, Europe, South America, Asia Pacific, the Middle East, and Africa. North America emerged as the most significant home medical equipment market, with a 39.02% market revenue share in 2022.
North America region will account for the largest market share with revenue growth. The region has a high incidence of chronic disorders, which boosts the demand for home medical equipment such as respiratory therapy equipment, intravenous equipment, conventional monitors, medical furniture, etc. The prominent global players are present in the U.S. and have a wide distribution network, propelling the regional market's growth. The growing geriatric population and increase in patients' healthcare expenses are lucrative opportunities for the market.
North America region Home Medical Equipment Market Share in 2022 - 39.02%
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The product type segment is divided into therapeutic equipment, mobility assist and patient support equipment and patient monitoring equipment. The therapeutic equipment segment further includes dialysis equipment, respiratory therapy equipment, intravenous equipment and others. The mobility assist and patient support equipment segment includes mobility assist equipment, medical furniture and bathroom safety equipment. The patient monitoring equipment segment further includes cardiac monitoring equipment, temperature monitoring equipment, blood glucose monitoring equipment, and others. The therapeutic equipment segment dominated the market, with a share of around 48.21% in 2022. A therapeutic device is an apparatus or tool used to identify, treat, and eliminate chronic illnesses. Additionally, it aids in preserving or improving each person's health. Therapeutic gadgets fall into two primary categories: gadgets that support patients during their daily lives and gadgets that support therapeutic services provided by the medical team.
The distribution channel segment is divided into hospital pharmacy, retail pharmacy and online pharmacy. The hospital pharmacy segment dominated the market, with a share of around 51.80% in 2022. A hospital's pharmacy department is responsible for preparing, compounding, stocking, and distributing pharmaceuticals for inpatients. Typically, hospital pharmacies carry a wider variety of equipment than would be practical in a community pharmacy, including more specialized and experimental products.
| Attribute | Description |
|---|---|
| Market Size | Revenue (USD Billion) |
| Market size value in 2022 | USD 31.56 Billion |
| Market size value in 2032 | USD 60.76 Billion |
| CAGR (2023 to 2032) | 6.77% |
| Historical data | 2019-2021 |
| Base Year | 2022 |
| Forecast | 2023-2032 |
| Region | The regions analyzed for the market are Asia Pacific, Europe, South America, North America, and Middle East & Africa. Furthermore, the regions are further analyzed at the country level. |
| Segments | Product Type and Distribution Channel |
As per The Brainy Insights, the size of the home medical equipment market was valued 31.56 billion in 2022 to USD 60.76 Billion by 2032.
Global home medical equipment market is growing at a CAGR of 6.77% during the forecast period 2023-2032.
North America region emerged as the largest market for the home medical equipment.
The market's growth will be influenced by the growing usage of home medical equipment.
The high cost can hamper the market growth.
1. Introduction
1.1. Objectives of the Study
1.2. Market Definition
1.3. Research Scope
1.4. Currency
1.5. Key Target Audience
2. Research Methodology and Assumptions
3. Executive Summary
4. Premium Insights
4.1. Porter’s Five Forces Analysis
4.2. Value Chain Analysis
4.3. Top Investment Pockets
4.3.1. Market Attractiveness Analysis by Product Type
4.3.2. Market Attractiveness Analysis by Distribution Channel
4.3.3. Market Attractiveness Analysis by Region
4.4. Industry Trends
5. Market Dynamics
5.1. Market Evaluation
5.2. Drivers
5.2.1. Increasing use of home medical equipment
5.3. Restraints
5.3.1. High cost
5.4. Opportunities
5.4.1. Increasing prevalence of chronic disorders
5.5. Challenges
5.5.1. Stringent regulations
6. Global Home Medical Equipment Market Analysis and Forecast, By Product Type
6.1. Segment Overview
6.2. Therapeutic Equipment
6.2.1. Dialysis Equipment
6.2.2. Respiratory Therapy Equipment
6.2.3. Intravenous Equipment
6.2.4. Others
6.3. Mobility Assist and Patient Support Equipment
6.3.1. Mobility Assist Equipment
6.3.2. Medical Furniture
6.3.3. Bathroom Safety Equipment
6.4. Patient Monitoring Equipment
6.4.1. Cardiac Monitoring Equipment
6.4.2. Temperature Monitoring Equipment
6.4.3. Blood Glucose Monitoring Equipment
6.4.4. Others
7. Global Home Medical Equipment Market Analysis and Forecast, By Distribution Channel
7.1. Segment Overview
7.2. Hospital Pharmacy
7.3. Retail Pharmacy
7.4. Online Pharmacy
8. Global Home Medical Equipment Market Analysis and Forecast, By Regional Analysis
8.1. Segment Overview
8.2. North America
8.2.1. U.S.
8.2.2. Canada
8.2.3. Mexico
8.3. Europe
8.3.1. Germany
8.3.2. France
8.3.3. U.K.
8.3.4. Italy
8.3.5. Spain
8.4. Asia-Pacific
8.4.1. Japan
8.4.2. China
8.4.3. India
8.5. South America
8.5.1. Brazil
8.6. Middle East and Africa
8.6.1. UAE
8.6.2. South Africa
9. Global Home Medical Equipment Market-Competitive Landscape
9.1. Overview
9.2. Market Share of Key Players in the Home Medical Equipment Market
9.2.1. Global Company Market Share
9.2.2. North America Company Market Share
9.2.3. Europe Company Market Share
9.2.4. APAC Company Market Share
9.3. Competitive Situations and Trends
9.3.1. Product Launches and Developments
9.3.2. Partnerships, Collaborations, and Agreements
9.3.3. Mergers & Acquisitions
9.3.4. Expansions
10. Company Profiles
10.1. Abbott
10.1.1. Business Overview
10.1.2. Company Snapshot
10.1.3. Company Market Share Analysis
10.1.4. Company Product Portfolio
10.1.5. Recent Developments
10.1.6. SWOT Analysis
10.2. Baxter
10.2.1. Business Overview
10.2.2. Company Snapshot
10.2.3. Company Market Share Analysis
10.2.4. Company Product Portfolio
10.2.5. Recent Developments
10.2.6. SWOT Analysis
10.3. B. Braun
10.3.1. Business Overview
10.3.2. Company Snapshot
10.3.3. Company Market Share Analysis
10.3.4. Company Product Portfolio
10.3.5. Recent Developments
10.3.6. SWOT Analysis
10.4. Hill-Rom Holdings Incorporated
10.4.1. Business Overview
10.4.2. Company Snapshot
10.4.3. Company Market Share Analysis
10.4.4. Company Product Portfolio
10.4.5. Recent Developments
10.4.6. SWOT Analysis
10.5. Philips Healthcare
10.5.1. Business Overview
10.5.2. Company Snapshot
10.5.3. Company Market Share Analysis
10.5.4. Company Product Portfolio
10.5.5. Recent Developments
10.5.6. SWOT Analysis
10.6. Medline Industry Inc.
10.6.1. Business Overview
10.6.2. Company Snapshot
10.6.3. Company Market Share Analysis
10.6.4. Company Product Portfolio
10.6.5. Recent Developments
10.6.6. SWOT Analysis
10.7. ResMed
10.7.1. Business Overview
10.7.2. Company Snapshot
10.7.3. Company Market Share Analysis
10.7.4. Company Product Portfolio
10.7.5. Recent Developments
10.7.6. SWOT Analysis
10.8. Sunrise Medical LLA.
10.8.1. Business Overview
10.8.2. Company Snapshot
10.8.3. Company Market Share Analysis
10.8.4. Company Product Portfolio
10.8.5. Recent Developments
10.8.6. SWOT Analysis
10.9. Stryker
10.9.1. Business Overview
10.9.2. Company Snapshot
10.9.3. Company Market Share Analysis
10.9.4. Company Product Portfolio
10.9.5. Recent Developments
10.9.6. SWOT Analysis
10.10. ARKRAY, Inc.
10.10.1. Business Overview
10.10.2. Company Snapshot
10.10.3. Company Market Share Analysis
10.10.4. Company Product Portfolio
10.10.5. Recent Developments
10.10.6. SWOT Analysis
10.11. Baxter
10.11.1. Business Overview
10.11.2. Company Snapshot
10.11.3. Company Market Share Analysis
10.11.4. Company Product Portfolio
10.11.5. Recent Developments
10.11.6. SWOT Analysis
10.12. ConvaTec Inc.
10.12.1. Business Overview
10.12.2. Company Snapshot
10.12.3. Company Market Share Analysis
10.12.4. Company Product Portfolio
10.12.5. Recent Developments
10.12.6. SWOT Analysis
10.13. DeVilbiss Healthcare LLC
10.13.1. Business Overview
10.13.2. Company Snapshot
10.13.3. Company Market Share Analysis
10.13.4. Company Product Portfolio
10.13.5. Recent Developments
10.13.6. SWOT Analysis
10.14. Fresenius Medical Care AG & Co. KGaA
10.14.1. Business Overview
10.14.2. Company Snapshot
10.14.3. Company Market Share Analysis
10.14.4. Company Product Portfolio
10.14.5. Recent Developments
10.14.6. SWOT Analysis
10.15. General Electric
10.15.1. Business Overview
10.15.2. Company Snapshot
10.15.3. Company Market Share Analysis
10.15.4. Company Product Portfolio
10.15.5. Recent Developments
10.15.6. SWOT Analysis
10.16. Johnson & Johnson Services, Inc.
10.16.1. Business Overview
10.16.2. Company Snapshot
10.16.3. Company Market Share Analysis
10.16.4. Company Product Portfolio
10.16.5. Recent Developments
10.16.6. SWOT Analysis
10.17. Smith+Nephew
10.17.1. Business Overview
10.17.2. Company Snapshot
10.17.3. Company Market Share Analysis
10.17.4. Company Product Portfolio
10.17.5. Recent Developments
10.17.6. SWOT Analysis
10.18. OMRON Corporation
10.18.1. Business Overview
10.18.2. Company Snapshot
10.18.3. Company Market Share Analysis
10.18.4. Company Product Portfolio
10.18.5. Recent Developments
10.18.6. SWOT Analysis
List of Table
1. Global Home Medical Equipment Market, By Product Type, 2019-2032 (USD Billion)
2. Global Therapeutic Equipment, Home Medical Equipment Market, By Region, 2019-2032 (USD Billion)
3. Global Mobility Assist and Patient Support Equipment, Home Medical Equipment Market, By Region, 2019-2032 (USD Billion)
4. Global Patient Monitoring Equipment, Home Medical Equipment Market, By Region, 2019-2032 (USD Billion)
5. Global Home Medical Equipment Market, By Distribution Channel, 2019-2032 (USD Billion)
6. Global Hospital Pharmacy, Home Medical Equipment Market, By Region, 2019-2032 (USD Billion)
7. Global Retail Pharmacy, Home Medical Equipment Market, By Region, 2019-2032 (USD Billion)
8. Global Online Pharmacy, Home Medical Equipment Market, By Region, 2019-2032 (USD Billion)
9. Global Home Medical Equipment Market, By Region, 2019-2032 (USD Billion)
10. North America Home Medical Equipment Market, By Product Type, 2019-2032 (USD Billion)
11. North America Home Medical Equipment Market, By Distribution Channel, 2019-2032 (USD Billion)
12. U.S. Home Medical Equipment Market, By Product Type, 2019-2032 (USD Billion)
13. U.S. Home Medical Equipment Market, By Distribution Channel, 2019-2032 (USD Billion)
14. Canada Home Medical Equipment Market, By Product Type, 2019-2032 (USD Billion)
15. Canada Home Medical Equipment Market, By Distribution Channel, 2019-2032 (USD Billion)
16. Mexico Home Medical Equipment Market, By Product Type, 2019-2032 (USD Billion)
17. Mexico Home Medical Equipment Market, By Distribution Channel, 2019-2032 (USD Billion)
18. Europe Home Medical Equipment Market, By Product Type, 2019-2032 (USD Billion)
19. Europe Home Medical Equipment Market, By Distribution Channel, 2019-2032 (USD Billion)
20. Germany Home Medical Equipment Market, By Product Type, 2019-2032 (USD Billion)
21. Germany Home Medical Equipment Market, By Distribution Channel, 2019-2032 (USD Billion)
22. France Home Medical Equipment Market, By Product Type, 2019-2032 (USD Billion)
23. France Home Medical Equipment Market, By Distribution Channel, 2019-2032 (USD Billion)
24. U.K. Home Medical Equipment Market, By Product Type, 2019-2032 (USD Billion)
25. U.K. Home Medical Equipment Market, By Distribution Channel, 2019-2032 (USD Billion)
26. Italy Home Medical Equipment Market, By Product Type, 2019-2032 (USD Billion)
27. Italy Home Medical Equipment Market, By Distribution Channel, 2019-2032 (USD Billion)
28. Spain Home Medical Equipment Market, By Product Type, 2019-2032 (USD Billion)
29. Spain Home Medical Equipment Market, By Distribution Channel, 2019-2032 (USD Billion)
30. Asia Pacific Home Medical Equipment Market, By Product Type, 2019-2032 (USD Billion)
31. Asia Pacific Home Medical Equipment Market, By Distribution Channel, 2019-2032 (USD Billion)
32. Japan Home Medical Equipment Market, By Product Type, 2019-2032 (USD Billion)
33. Japan Home Medical Equipment Market, By Distribution Channel, 2019-2032 (USD Billion)
34. China Home Medical Equipment Market, By Product Type, 2019-2032 (USD Billion)
35. China Home Medical Equipment Market, By Distribution Channel, 2019-2032 (USD Billion)
36. India Home Medical Equipment Market, By Product Type, 2019-2032 (USD Billion)
37. India Home Medical Equipment Market, By Distribution Channel, 2019-2032 (USD Billion)
38. South America Home Medical Equipment Market, By Product Type, 2019-2032 (USD Billion)
39. South America Home Medical Equipment Market, By Distribution Channel, 2019-2032 (USD Billion)
40. Brazil Home Medical Equipment Market, By Product Type, 2019-2032 (USD Billion)
41. Brazil Home Medical Equipment Market, By Distribution Channel, 2019-2032 (USD Billion)
42. Middle East and Africa Home Medical Equipment Market, By Product Type, 2019-2032 (USD Billion)
43. Middle East and Africa Home Medical Equipment Market, By Distribution Channel, 2019-2032 (USD Billion)
44. UAE Home Medical Equipment Market, By Product Type, 2019-2032 (USD Billion)
45. UAE Home Medical Equipment Market, By Distribution Channel, 2019-2032 (USD Billion)
46. South Africa Home Medical Equipment Market, By Product Type, 2019-2032 (USD Billion)
47. South Africa Home Medical Equipment Market, By Distribution Channel, 2019-2032 (USD Billion)
List of Figures
1. Global Home Medical Equipment Market Segmentation
2. Home Medical Equipment Market: Research Methodology
3. Market Size Estimation Methodology: Bottom-Up Approach
4. Market Size Estimation Methodology: Top-Down Approach
5. Data Triangulation
6. Porter’s Five Forces Analysis
7. Value Chain Analysis
8. Global Home Medical Equipment Market Attractiveness Analysis by Product Type
9. Global Home Medical Equipment Market Attractiveness Analysis by Distribution Channel
10. Global Home Medical Equipment Market Attractiveness Analysis by Region
11. Global Home Medical Equipment Market: Dynamics
12. Global Home Medical Equipment Market Share by Product Type (2022 & 2032)
13. Global Home Medical Equipment Market Share by Distribution Channel (2022 & 2032)
14. Global Home Medical Equipment Market Share by Regions (2022 & 2032)
15. Global Home Medical Equipment Market Share by Company (2022)
This study forecasts revenue at global, regional, and country levels from 2019 to 2032. The Brainy Insights has segmented the global home medical equipment market based on below mentioned segments:
Global Home Medical Equipment Market by Product Type:
Global Home Medical Equipment Market by Distribution Channel:
Global Home Medical Equipment Market by Region:
Research has its special purpose to undertake marketing efficiently. In this competitive scenario, businesses need information across all industry verticals; the information about customer wants, market demand, competition, industry trends, distribution channels etc. This information needs to be updated regularly because businesses operate in a dynamic environment. Our organization, The Brainy Insights incorporates scientific and systematic research procedures in order to get proper market insights and industry analysis for overall business success. The analysis consists of studying the market from a miniscule level wherein we implement statistical tools which helps us in examining the data with accuracy and precision.
Our research reports feature both; quantitative and qualitative aspects for any market. Qualitative information for any market research process are fundamental because they reveal the customer needs and wants, usage and consumption for any product/service related to a specific industry. This in turn aids the marketers/investors in knowing certain perceptions of the customers. Qualitative research can enlighten about the different product concepts and designs along with unique service offering that in turn, helps define marketing problems and generate opportunities. On the other hand, quantitative research engages with the data collection process through interviews, e-mail interactions, surveys and pilot studies. Quantitative aspects for the market research are useful to validate the hypotheses generated during qualitative research method, explore empirical patterns in the data with the help of statistical tools, and finally make the market estimations.
The Brainy Insights offers comprehensive research and analysis, based on a wide assortment of factual insights gained through interviews with CXOs and global experts and secondary data from reliable sources. Our analysts and industry specialist assume vital roles in building up statistical tools and analysis models, which are used to analyse the data and arrive at accurate insights with exceedingly informative research discoveries. The data provided by our organization have proven precious to a diverse range of companies, facilitating them to address issues such as determining which products/services are the most appealing, whether or not customers use the product in the manner anticipated, the purchasing intentions of the market and many others.
Our research methodology encompasses an idyllic combination of primary and secondary initiatives. Key phases involved in this process are listed below:
The phase involves the gathering and collecting of market data and its related information with the help of different sources & research procedures.
The data procurement stage involves in data gathering and collecting through various data sources.
This stage involves in extensive research. These data sources includes:
Purchased Database: Purchased databases play a crucial role in estimating the market sizes irrespective of the domain. Our purchased database includes:
Primary Research: The Brainy Insights interacts with leading companies and experts of the concerned domain to develop the analyst team’s market understanding and expertise. It improves and substantiates every single data presented in the market reports. Primary research mainly involves in telephonic interviews, E-mail interactions and face-to-face interviews with the raw material providers, manufacturers/producers, distributors, & independent consultants. The interviews that we conduct provides valuable data on market size and industry growth trends prevailing in the market. Our organization also conducts surveys with the various industry experts in order to gain overall insights of the industry/market. For instance, in healthcare industry we conduct surveys with the pharmacists, doctors, surgeons and nurses in order to gain insights and key information of a medical product/device/equipment which the customers are going to usage. Surveys are conducted in the form of questionnaire designed by our own analyst team. Surveys plays an important role in primary research because surveys helps us to identify the key target audiences of the market. Additionally, surveys helps to identify the key target audience engaged with the market. Our survey team conducts the survey by targeting the key audience, thus gaining insights from them. Based on the perspectives of the customers, this information is utilized to formulate market strategies. Moreover, market surveys helps us to understand the current competitive situation of the industry. To be precise, our survey process typically involve with the 360 analysis of the market. This analytical process begins by identifying the prospective customers for a product or service related to the market/industry to obtain data on how a product/service could fit into customers’ lives.
Secondary Research: The secondary data sources includes information published by the on-profit organizations such as World bank, WHO, company fillings, investor presentations, annual reports, national government documents, statistical databases, blogs, articles, white papers and others. From the annual report, we analyse a company’s revenue to understand the key segment and market share of that organization in a particular region. We analyse the company websites and adopt the product mapping technique which is important for deriving the segment revenue. In the product mapping method, we select and categorize the products offered by the companies catering to domain specific market, deduce the product revenue for each of the companies so as to get overall estimation of the market size. We also source data and analyses trends based on information received from supply side and demand side intermediaries in the value chain. The supply side denotes the data gathered from supplier, distributor, wholesaler and the demand side illustrates the data gathered from the end customers for respective market domain.
The supply side for a domain specific market is analysed by:
The demand side for the market is estimated through:
In-house Library: Apart from these third-party sources, we have our in-house library of qualitative and quantitative information. Our in-house database includes market data for various industry and domains. These data are updated on regular basis as per the changing market scenario. Our library includes, historic databases, internal audit reports and archives.
Sometimes there are instances where there is no metadata or raw data available for any domain specific market. For those cases, we use our expertise to forecast and estimate the market size in order to generate comprehensive data sets. Our analyst team adopt a robust research technique in order to produce the estimates:
Data Synthesis: This stage involves the analysis & mapping of all the information obtained from the previous step. It also involves in scrutinizing the data for any discrepancy observed while data gathering related to the market. The data is collected with consideration to the heterogeneity of sources. Robust scientific techniques are in place for synthesizing disparate data sets and provide the essential contextual information that can orient market strategies. The Brainy Insights has extensive experience in data synthesis where the data passes through various stages:
Market Deduction & Formulation: The final stage comprises of assigning data points at appropriate market spaces so as to deduce feasible conclusions. Analyst perspective & subject matter expert based holistic form of market sizing coupled with industry analysis also plays a crucial role in this stage.
This stage involves in finalization of the market size and numbers that we have collected from data integration step. With data interpolation, it is made sure that there is no gap in the market data. Successful trend analysis is done by our analysts using extrapolation techniques, which provide the best possible forecasts for the market.
Data Validation & Market Feedback: Validation is the most important step in the process. Validation & re-validation via an intricately designed process helps us finalize data-points to be used for final calculations.
The Brainy Insights interacts with leading companies and experts of the concerned domain to develop the analyst team’s market understanding and expertise. It improves and substantiates every single data presented in the market reports. The data validation interview and discussion panels are typically composed of the most experienced industry members. The participants include, however, are not limited to:
Moreover, we always validate our data and findings through primary respondents from all the major regions we are working on.
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