Home Medical Equipment Market Overview

Home medical equipment refers to devices which can provide assistance to patients within the comfort of their homes. It reduces the duration spent at the hospital and the healthcare costs of an individual. The global home medical equipment market report by Market Research Future (MRFR) takes into consideration the various drivers, challenges, and trends and its estimated growth and return rates for the period of 2022to 2030 (forecast period). The outbreak of the COVID-19 pandemic and its impact on the industry is been discussed at length in the report.

Home Medical Equipment Market is projected to reach USD 35,540 Millionat a CAGR of 6.80% during the forecast period 2022-2030.

Introduction of insurance policies covering home medical equipment rental costs is expected to be lucrative for market players. Prevalence of chronic diseases and rise in healthcare costs can drive people’s preference towards home healthcare.The increase in efforts to provide better healthcare services to patients is one of the major factors propelling the home medical equipment market forward.Developing occurrence of malignancy, cardiovascular issue, ophthalmic illnesses, neurological conditions, and gynecological complexities will drive the item request over the conjecture time frame. Better inclusion and repayment strategies for DME items are likewise liable to help support the DME market development. What's more, rising number of older consideration focuses because of expanding geriatric populace base over the globe are anticipated to drive the DME market further.

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Competition Outlook

Apple, Koninklijke Philips N.V., 3M, Omron Corporation, Becton Dickinson Company, Kinnser Software, F. Hoffmann-La Roche AG, LG Electronics, Medtronic PLC, Abbott, McKesson Corporation, A&D Company, Fresenius SE & Co KGaA, B. Braun Melsungen AG, GE Healthcare, and others are prominent names in the global home healthcare market.

Industry News

Dignity Health, a U.S. based healthcare provider firm, have made arrangements for their customers for tackling energy issues during public safety power shutoffs. The company is being proactive in its efforts by providing additional equipment or ensuring the existing stock does not affect the daily life of patients during blackouts.

Browse Detailed TOC with COVID-19 Impact Analysis at: https://www.marketresearchfuture.com/reports/home-medical-equipment-market-8486

Home Medical Equipment Market Segmentation

The global home healthcare market is segmented by product, service, and software.

By product, it is segmented into therapeutic products and testing, screening, & monitoring products. IV equipment, respiratory therapy equipment, dialysis equipment, insulin delivery devices, wound care products, and others are segments within the therapeutic products segment. Whereas, the testing, screening, & monitoring products segment is sub-segmented into blood glucose monitors, blood pressure monitors, Holter and event monitors, pulse oximeters & heart rate monitors, cholesterol monitoring devices, sleep apnea monitors and others.

By service, it is segmented into infusion therapy services, pregnancy care services, rehabilitation therapy services, respiratory therapy services, unskilled care services, and skilled nursing services.

By software, it is segmented into hospice solutions, telehealth solution, agency software, and clinical management systems.

Home Medical Equipment Market Regional Analysis

The Middle East & Africa (MEA), Europe, Asia Pacific (APAC), and the Americas are the main regions of focus in the global home healthcare market report.

The Americas are expected to be the dominant region within the market till 2023, with North America facilitating maximum growth. Large number of service providers and the immense healthcare expenditure allocated by countries for the welfare of citizens are drivers of the market in the region. Healthcare providers are assisting patients via telemedicine and remote patient technology to improve patient outcomes.

Europe has the second rank among the regions due to government support and private funding into research and development activities. The APAC region can display a strong CAGR of 8.7% due to the large patient pool and the expanding aging populace. Lastly, the MEA region has the lowest market share due to the presence of nations with low economic conditions.

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