The global home medical equipment market size US$ 29.1 billion in 2021. The global home medical equipment market is forecast to grow to US$ 43.9 billion by 2030 by growing at a compound annual growth rate (CAGR) of 5.1% during the forecast period from 2022 to 2030.

Home medical equipment is regarded as an outstanding solution to offer convenient, safe, suitable, and cost-effective treatment to patients. Home medical equipment includes various devices that are easily accessible at home, such as blood pressure monitors, Holter monitors, blood glucose monitors, automated external defibrillators, etc.

Factors Influencing the Market

The growing rate of chronic diseases and increasing demand for home care treatment will fuel the growth of the global home medical equipment market.

The benefits of home medical equipment devices are likely to propel the market forward. For instance, patients can easily carry out their day-to-day activities without paying regular visits to the hospitals. In addition, it saves the time of the patients and the doctors. Furthermore, home medical equipment is cost-effective. Thus, all of these advantages will escalate the growth of the global home medical equipment market.

The demand for continuous monitoring in the cases of Asthma and other respiratory diseases will escalate the growth of the market. Furthermore, the growing geriatric population and rising awareness about the convenience of home medical equipment will surge the market growth.

Limited expertise for home-based users may limit the growth of the global home medical equipment market.

The high procedural costs in hospitals and clinics may increase the demand for home medical equipment.

Growing advancements in-home medical equipment will gain significant traction in the coming years. For instance, Medtronic unveiled its Guardian Connect, the worlds first Smart Continuous Glucose Monitoring System, in January 2019. Moreover, Smith & Nephew introduced New PICO 7 in August 2018 to offer a negative pressure wound therapy system in Europe.

COVID-19 Impact Analysis

The recent global health emergency, i.e., the COVID-19 pandemic, surged the demand for home medical equipment. Due to the pandemic, people became more terrified of healthcare centers. It became essential to maintain significant distance from public places in order to save themselves from the virus. Many healthcare professionals started providing online consultations. Thus, it surged the demand for home medical equipment for patients suffering from asthma, diabetes, or other chronic diseases.

Regional Analysis

The Asia-Pacific home medical equipment market is forecast to grow at the fastest growth rate. It is because of the presence of the majority of online retailers that deliver desired devices via mail or shipping. In addition, the rising prevalence of chronic diseases like cancer and diabetes will surge the growth of the regional market. Furthermore, increasing healthcare expenditure and the growing geriatric population in the region will benefit the Asia-Pacific home medical equipment market.

Competitors in the Market

B Braun
Abbott
Baxter
Becton Dickinson & Company
Medtronic
Invacare
GE Healthcare
Johnson & Johnson
Hill Rom
Smith & Nephew
Other Prominent Players
Market Segmentation

The global home medical equipment market segmentation focuses on Distribution Channel, Functionality, and Region.

By Distribution Channel Outlook

Pharmacy
Retail stores
Online retailers
By Functionality Outlook

Therapeutic equipment
Home Respiratory Therapy Equipment
Continuous positive airways pressure equipment
Oxygen delivery equipment
Ventilators
Nebulizers
Humidifiers
Home IV equipment
IV pumps
IV administration
IV accessories
Home Dialysis Equipment
Home peritoneal dialysis
Home hemolysis product
Other Home Therapeutic Equipment
Home physical therapy equipment
Home negative pressure wound therapy devices
Home braces & related products
Home enteral feeding products
Home automated external defibrillators
Home muscle & nerve stimulators
Patient monitoring equipment
Blood Glucose Monitors
Blood Pressure Monitors
Holter Monitors
Peak Flow Monitors
Apnea Monitors
Heart Rate Monitor
Baby Monitors
Electronic Thermometer
Coagulation monitors
Mobility assist & patient support equipment
Wheelchairs
Mobility Scooters
Walking Assist Device
Medical Furniture
Bathroom Safety Equipment
By Region

North America
The U.S.
Canada
Mexico
Europe
Western Europe
The UK
Germany
France
Italy
Spain
Rest of Western Europe
Eastern Europe
Poland
Russia
Rest of Eastern Europe
Asia Pacific
China
India
Japan
Australia & New Zealand
ASEAN
Rest of Asia Pacific
Middle East & Africa (MEA)
UAE
Saudi Arabia
South Africa
Rest of MEA
South America
Brazil
Argentina
Rest of South America