Home Medical Equipment: Technologies and Global Markets

·4 min read

Report Scope: This report is an analytical business tool whose primary purpose is to describe and analyze the dynamics of the global market for home medical equipment. HME is defined as durable equipment—that is, equipment with an expected service life of at least three years that meets the following criteria:

New York, Aug. 08, 2022 (GLOBE NEWSWIRE) -- Reportlinker.com announces the release of the report "Home Medical Equipment: Technologies and Global Markets" - https://www.reportlinker.com/p06313096/?utm_source=GNW

Can withstand repeated use.
- Is primarily and customarily used to serve a medical purpose.
- Is generally not useful to a person in the absence of an illness or injury.
- Is not implanted inside the patient’s body.
- Is appropriate for use in the home.
- Does not require a trained medical professional to operate.
- Usually requires a doctor’s prescription to buy (excluding most canes, walkers and other elderly and disabled assistive devices).
- Does not generally include drugs and other consumables.

While the report’s coverage is global, it focuses on selected international HME markets including -
- North America.
- Europe.
- Asia-Pacific.
- Rest of the World.

Report Includes:
- 20 data tables and 32 additional tables
- An up-to-date overview and analysis of the global markets for home medical equipment (HME) within the industry
- Analyses of the global market trends, with historic market revenue (sales data) for 2020 and 2021, estimates for 2022, and projections of compound annual growth rates (CAGRs) through 2027
- Highlights of the current and future market potential of home medical equipment along with a detailed analysis of competitive environment and trends in market growth
- Evaluation and forecast the actual market size for home medical equipment, and corresponding market share analysis based on product type, disease/condition treated, and geographic region
- Assessment of the major driving factors, opportunities and challenges in this innovation driven market, along with technological developments and regulatory implications within the marketplace
- Updated information on ongoing research activities, key technology issues, industry specific challenges, major types of end-user markets, and COVID-19 effects on this market
- Review of recent patents published and granted on home medical equipment during 2018-2021
- Identification of the major stakeholders and analysis of the competitive landscape based on recent developments and segmental revenues
- Descriptive company profiles of the leading global players, including Abbott, B. Braun Melsungen AG, Baxter International, Becton, Dickinson and Co. (BD), F. Hoffmann-La Roche Ltd., Koninklijke Philips N.V., and Medtronic plc

The global market for home medical equipment was valued at $REDACTED in 2021.The market is forecast to grow at a compound annual growth rate (CAGR) of REDACTED% to reach approximately $REDACTED by 2027.

The global market is segmented based on product type, disease/condition treated and region.

The markets for monitors and sensors and telemetry devices account for the largest share of the market, mainly due to the high demand for home blood glucose testers. Both are also growing faster than assistive devices, which has a CAGR of REDACTED%.

Among the various diseases managed or treated with HME, diabetes accounted for the largest share (REDACTED%) of the global HME market in 2021.Motion impairments and obesity had the second largest market share (REDACTED%), followed by asthma and other respiratory conditions (REDACTED%), sleep disorders (REDACTED%) and hypertension (REDACTED%).

By 2027, the market shares of diabetes and motion impairment/obesity are projected to increase from REDACTED% to REDACTED%, and REDACTED% to REDACTED%, respectively.

North America has the largest geographical market for HME, with REDACTED% of the global market in 2021.The European countries collectively accounted for REDACTED% of the global HME market in 2021.

Asia-Pacific was the third-largest geographical market, with a REDACTED% global market share in 2021.

Reasons for Doing This Study:
Home medical equipment (HME) is a multibillion-dollar industry.Since The analyst published its last HME study in 2016, the market has continued to evolve as the population ages and a growing number of seniors are financially able to live in their own home instead of a nursing home or other institutional care facility.

Economic trends, such as the rising cost of institutional care, plus a growing receptivity to home health care among physicians and private and public insurers, are also driving the market.

These demographic and attitudinal shifts are being reinforced by technological developments, such as wireless remote monitoring, to meet the demand for treatments stemming from increasing incidences of heart disease and other conditions requiring close patient monitoring.

The increasing prevalence of respiratory diseases, diabetes, sleep disorders, hypertension and a rapidly expanding senior population are pushing the growth of the global home medical equipment market. Also, pandemics like the 2019 novel coronavirus (COVID-19) drive the global demand for home medical equipment.
Read the full report: https://www.reportlinker.com/p06313096/?utm_source=GNW

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