The global Homecare Medical Equipment Market size was valued at $30,545.34 million in 2019, and is estimated to reach $56,457.87 million by 2027.
The emergence of the COVID-19 pandemic has positively impacted the home medical equipment market. The public health emergency has increased the demand for home medical equipment such as life-supporting and life-sustaining devices since the onset of the pandemic. However, the disruption of conventional manufacturing, supply and distribution channels during the COVID-19 pandemic caused widespread shortages in medical supplies. Therefore, government authorities are adopting measures in response to the disruption of the supply chain of medical devices.
For instance, in 2020, the United States Food and Drug Administration (USFDA) stated that it is engaged in monitoring the medical devices supply chain as devices and is working closely with manufacturers for analyzing the risk of disruptions to meet the rising demand for medical equipment for patients. Moreover, the Pan American Health Organization (PAHO) has released a list of priority medical devices, including continuous positive airway pressure (CPAP) machine, vital monitor and pulse oximeter, in response to the COVID-19 pandemic. Furthermore, in June 2021, the World Health Organization (WHO) released a list of priority medical devices for management of cardiovascular diseases and diabetes to assist the countries across the globe in increasing the availability of medical equipment to improve healthcare. Such measures are fueling the usage of medical equipment at home during the ongoing pandemic.
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Smiths Group plc
Johnson & Johnson
Hill-Rom Holdings Incorporated
mith & Nephew plc
General Electric Company
Baxter International Incorporated
Dickinson and Company
B Braun Melsungen Ag
Medline Industries Incorporated
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.
Patient Monitoring Equipment
Mobility Assist & Patient Support Equipment
Middle Aged and Elderly People
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.
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