According to the report published by Allied Market Research, The global Home Medical Equipment Market Size was valued at USD 30.54 billion in 2019, and it is estimated to surpass around USD 56.45 billion by 2027, with a registered CAGR of 6.1% from 2022 to 2027.
Home Medical Equipment Companies:-
- Abbott Laboratories
- B Braun Melsungen Ag
- Baxter International Incorporated
- Becton
- Dickinson Company
- General Electric Company
- Hill-Rom Holdings Incorporated
- Johnson & Johnson
- Medtronic plc
- Smith & Nephew plc.
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Global Home Medical Equipment Market Segmentation: –
By functionality, the therapeutic equipment segment held the largest share in 2019, accounting for more than two-fifths of the global home medical equipment market, owing to preferences for homecare equipment over others as they provide better results. However, the mobility assist & patient support equipment segment is projected to manifest the highest CAGR of 7.1% during the forecast period, due to high prevalence rate of chronic diseases and technological advancements.
By distribution channel, the online retailers segment is projected to register the highest CAGR of 7.0% during the forecast period, due to the surge in traction toward e-commerce for medical equipment among consumers and increase in availability of several home medical equipment. However, the retail pharmacy segment held the lion’s share in 2019, contributing to more than two-fifths of the global home medical equipment market, owing to the ease in availability of various kinds of medical equipment such as mobility devices, respiratory devices, and others in the pharmacy.
By region, the market across North America dominated in 2019, accounting for more than two-fifths of the market, owing to availability of advanced technology, affordability along with growth in awareness about the benefits of homecare medical devices, increase in the geriatric population, and rise in prevalence of various life-threatening diseases.
However, the global home medical equipment market Asia-Pacific is anticipated to register the highest CAGR of 7.4% from 2020 to 2027, due to the improvement in the purchasing power of patients in countries such as China and Japan.
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By Region Outlook
North America
⦁ U.S.
⦁ Canada
⦁ Mexico
Europe
⦁ UK
⦁ Germany
⦁ France
⦁ Italy
⦁ Russia
⦁ Rest of Europe
Asia-Pacific
⦁ China
⦁ Japan
⦁ India
⦁ Australia
⦁ Rest of Asia-Pacific
LAMEA
⦁ Brazil
⦁ UAE
⦁ Turkey
⦁ Saudi Arabia
⦁ Rest of LAMEA
Our Market Research Solution Provides You Answer to Below Mentioned Question:
- Which are the driving factors responsible for the growth of market?
- Which are the roadblock factors of this market?
- What are the new opportunities, by which market will grow in the coming years?
- What are the trends of this market?
- Which are main factors responsible for new product launch?
- How will each segment grow over the forecast period and how much revenue will these segments account for in 2031?
- How big is the global & regional market in terms of revenue, sales and production?
- Which region is dominating the global market and what are the market shares of each region in the overall market in 2022?
- Which region has more opportunities?
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