Homecare Medical Devices Market Share, Outlook & Trends 2032

Homecare Medical Devices Market Outlook (2022-2032)

[333 Pages Report] The global homecare medical devices market holds a forecasted share of US$ 133650.67 million in 2022 and is likely to surpass US$ 312328.055 million by 2032, moving ahead with a CAGR of 8.9% during the forecast period.

Home medical equipment provides patients with a safe, convenient, cost-effective, and comfortable environment within their own homes. The home medical equipment market has transformed as chronic diseases have become more prevalent worldwide.

Moreover, oxygen-related home medical equipment is gaining popularity due to the significant rise in chronic obstructive pulmonary disease (COPD) worldwide. Patients receive various care devices at home, including infusion pumps, wheelchairs, glucose meters, and cannulas. For example, glucose and glucometers are routinely used to measure diabetes blood sugar levels.

Report Attribute	Details
Homecare Medical Devices Market Value (2022)	US$ 133650.67 million
Homecare Medical Devices Market Anticipated Forecast Value (2032)	US$ 312328.055 million
Homecare Medical Devices Market Projected Growth Rate (2022 to 2032)	8.9%

Home medical equipment market growth is also accelerated by new technological advances such as needle-free diabetic care, medication administration equipment, and durable medical equipment, such as medical beds and lift chairs. However, the high cost associated with these devices is expected to hinder the home medical equipment market's growth.

As chronic diseases and aging increase worldwide, the global home medical equipment market is expected to grow. In addition, technological advances in home care medical equipment contribute to the market's growth, such as smaller sizes, portability, and ease of access.

As a result of rising concerns regarding patient safety and difficulty in adapting to new medical devices, the market is expected to grow at a moderate pace over the forecast period. But as a result of the growth potential of emerging economies in the Asia Pacific, market expansion opportunities could be numerous during the forecast period.

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What are the Key Homecare Medical Devices Market Dynamics?

Drivers:

Increasing Geriatric Population: As the geriatric population grows, market players have been forced to develop medical devices that are effective, precise, efficient, and user-friendly. Consequently, older people increasingly need monitoring devices, mobility aids, and therapeutic devices, thereby leveraging market growth.
Advancement in the Medical Device Industry: Due to technological advancements, remote patient monitoring has become an excellent growth strategy for medical device companies. Several players have integrated the internet of things (IoT) with medical devices through technological advancements, which facilitate patient-provider communication. Telemedicine and mHealth technologies have been adopted thanks to the built-in connectivity of medical devices through mobile applications, cloud services, and machine-to-machine connections.
Rise in Healthcare Costs: As healthcare costs continue to rise, the home medical equipment market is expected to expand, as home medical equipment saves patients from spending money on clinical diagnostic procedures or continuous monitoring, allowing this industry to flourish in economically disadvantaged areas.

Opportunities:

Developing cost-effective homecare medical devices for better patient assistance is the key opportunity for the players operating in the homecare medical devices market. The key players will also be able to grow significantly over the forecast period due to innovative marketing strategies. Furthermore, government initiatives related to reimbursement policies for home healthcare devices will further improve the demand for homecare medical devices, providing key players in this market with lucrative growth opportunities.

Restraints:

High-cost Medical Devices: Despite the promising prospects of the homecare medical devices market, the high prices of these devices place a significant burden on this market.
Lack of Insurance Coverage: There is a lack of insurance coverage for home healthcare devices and a risk to patients' and home care workers' safety, which deters homecare medical device sales.

Regional Analysis

What is the Growth Outlook for the North America Homecare Medical Devices Market?

North America is estimated to capture 33.2% of the overall homecare medical devices market, owing to the increasing elderly population in various states. Additionally, the rise in respiratory diseases, COPD, and chronic diseases such as asthma, diabetes, and blood pressure would be contributing factors to the growth of this market.

Why is European Homecare Medical Devices Market a Promising Region?

Europe is predicted to hold a significant market share of 30.1% of the global homecare medical devices market. In the healthcare sector, the proliferation of innovation and AI is driving the growth of the European homecare medical devices domain, which is set to be a growth-proliferating aspect for the sector. Considering that healthcare aid and health & wellness are becoming the top priorities in the modern world, rapid and innovative developments in the healthcare sector are opening up new opportunities for homecare medical devices. This is likely to result in significant growth in the overall technology-driven prospects market.

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How is the Start-up Ecosystem in the Homecare Medical Devices Market?

SMEs and startups are taking advantage of cutting-edge technologies such as artificial intelligence, 3D printing, and wearable devices to design, test, and develop medical devices that solve health problems and boost the industry to a whole new level. There are several startups, including EzeRx, JANITRI Innovations, Niramai, Dozee, Tricog Health, InnAccel, Pandorum Technologies, AgVa and Biodesign. In addition to this, many private healthcare players are also looking to push startups to develop medical devices. To support health technology startups in developing scientific and commercial solutions, Bengaluru-based Aster DM Healthcare and investment firm Life Science Vision Capital have established India's first incubator and accelerator, XHealth Innovation Lab, in partnership with social entrepreneurship startup Social Alpha.

Homecare Medical Devices Market: Competitive Landscape

Homecare Medical Devices Market: Key Contracts/ Agreements/ Acquisitions/ Recent Developments

One regional distributor and one national distributor agreed to distribute home medical equipment on behalf of Electromed Inc. in March 2021. By leveraging the distribution network of both companies, Electromed has commercial interests in the sale and distribution of SmartVest Airway Clearance System in the U.S. In pursuit of the deal, Electromed has started distribution of SmartVest system via home medical equipment distributors in targeted areas.
For the distribution of Smiths Medical's Portex acapella positive expiratory pressure therapy device, Smiths Medical partnered with Medline Industries in August 2019. As a result of this distribution partnership, Smiths Medical's proprietary acapella devices will be more accessible to patients in home care settings.
Phillips, a multinational corporation based in the Netherlands, announced in March 2020 that it has entered into an eight-year strategic partnership with Paracelsus Clinics, a Swiss medical treatment centre. The partnership aims to enhance and expand Paracelsus' imaging systems.

Who are the Key Players in the Homecare Medical Devices Market?

AirSep
SeQual
Drive Medical
Graham-Field
Inogen, Invacare
Meyra
Nordic / Handicare / Permobil
O2Concepts Oxlife
Philips Respironics
Pride
Sunrise Medica
Teijin and TiLite

Report Scope

Report Attribute	Details
Growth Rate	CAGR of 8.9% from 2022 to 2032
Base Year for Estimation	2022
Historical Data	2016 to 2021
Forecast Period	2022 to 2032
Quantitative Units	Revenue in US$ Million and CAGR from 2022-2032
Report Coverage	Revenue Forecast, Volume Forecast, Company Ranking, Competitive Landscape, Growth Factors, Trends and Pricing Analysis
Segments Covered	Product Distribution Channel Region
Regions Covered	North America Latin America The Asia Pacific MEA Europe
Key Countries Profiled	The USA Canada Brazil Argentina Germany The UK France Spain Italy Nordics BENELUX Australia & New Zealand China India GCC South Africa
Key Companies Profiled	AirSep SeQual Drive Medical Graham-Field Inogen, Invacare Meyra Nordic / Handicare / Permobil O2Concepts Oxlife Philips Respironics Pride Sunrise Medica Teijin and TiLite
Customization	Available Upon Request

Key Segments Profiled in the Homecare Medical Devices Market Survey

By Product Type:

Wheelchairs
Scooters
Oxygen treatment equipment
Accessibility beds
Lifts
Toilets
Others

By Distribution Channel:

Pharmacies
Retail Medical Stores
Online Retailers

By Region:

North America
Latin America
The Asia Pacific
MEA
Europe

Frequently Asked Questions

What is the Growth Potential of the Homecare Medical Devices Market?

The homecare medical devices market’s growth potential can be valued at US$ 312328.055 Mn by 2032.

What is the Market Size of the Homecare Medical Devices Market?

The market size of the global homecare medical devices market is projected to grow by US$ 133650.67 Mn in 2022.

Which Region is Expected to Hold the Highest Share in the Global Homecare Medical Devices Market Growing?

North America is expected to hold the highest share in the global homecare medical devices market.

How is the Homecare Medical Devices Market Growing?

The homecare Medical Devices market is expected to grow at a CAGR of 8.9% from 2022 to 2032.

Table of Content

1. Executive Summary

1.1. Global Market Outlook

1.2. Demand-side Trends

1.3. Supply-side Trends

1.4. Technology Roadmap Analysis

1.5. Analysis and Recommendations

2. Market Overview

2.1. Market Coverage / Taxonomy

2.2. Market Definition / Scope / Limitations

3. Market Background

3.1. Market Dynamics

3.1.1. Drivers

3.1.2. Restraints

3.1.3. Opportunity

3.1.4. Trends

3.2. Scenario Forecast

3.2.1. Demand in Optimistic Scenario

3.2.2. Demand in Likely Scenario

3.2.3. Demand in Conservative Scenario

3.3. Opportunity Map Analysis

3.4. Investment Feasibility Matrix

3.5. PESTLE and Porter’s Analysis

3.6. Regulatory Landscape

3.6.1. By Key Regions

3.6.2. By Key Countries

3.7. Regional Parent Market Outlook

4. Global Homecare Medical Devices Market Analysis 2017-2021 and Forecast, 2022-2032

4.1. Historical Market Size Value (US$ Mn) Analysis, 2017-2021

4.2. Current and Future Market Size Value (US$ Mn) Projections, 2022-2032

4.2.1. Y-o-Y Growth Trend Analysis

4.2.2. Absolute $ Opportunity Analysis

5. Global Homecare Medical Devices Market Analysis 2017-2021 and Forecast 2022-2032, By Product Type

5.1. Introduction / Key Findings

5.2. Historical Market Size Value (US$ Mn) Analysis By Product Type, 2017-2021

5.3. Current and Future Market Size Value (US$ Mn) Analysis and Forecast By Product Type, 2022-2032

5.3.1. Wheelchairs

5.3.2. Scooters

5.3.3. Oxygen treatment equipment

5.3.4. Accessibility beds

5.3.5. Lifts

5.3.6. Toilets

5.3.7. Others

5.4. Y-o-Y Growth Trend Analysis By Product Type, 2017-2021

5.5. Absolute $ Opportunity Analysis By Product Type, 2022-2032

6. Global Homecare Medical Devices Market Analysis 2017-2021 and Forecast 2022-2032, By Distribution channel

6.1. Introduction / Key Findings

6.2. Historical Market Size Value (US$ Mn) Analysis By Distribution channel, 2017-2021

6.3. Current and Future Market Size Value (US$ Mn) Analysis and Forecast By Distribution channel, 2022-2032

6.3.1. Direct Distribution Channel

6.3.2. Sales Channel

6.4. Y-o-Y Growth Trend Analysis By Distribution channel, 2017-2021

6.5. Absolute $ Opportunity Analysis By Distribution channel, 2022-2032

7. Global Homecare Medical Devices Market Analysis 2017-2021 and Forecast 2022-2032, By Region

7.1. Introduction

7.2. Historical Market Size Value (US$ Mn) Analysis By Region, 2017-2021

7.3. Current Market Size Value (US$ Mn) Analysis and Forecast By Region, 2022-2032

7.3.1. North America

7.3.2. Latin America

7.3.3. Europe

7.3.4. Asia Pacific

7.3.5. MEA

7.4. Market Attractiveness Analysis By Region

8. North America Homecare Medical Devices Market Analysis 2017-2021 and Forecast 2022-2032, By Country

8.1. Historical Market Size Value (US$ Mn) Trend Analysis By Market Taxonomy, 2017-2021

8.2. Market Size Value (US$ Mn) Forecast By Market Taxonomy, 2022-2032

8.2.1. By Country

8.2.1.1. U.S.

8.2.1.2. Canada

8.2.2. By Product Type

8.2.3. By Distribution channel

8.3. Market Attractiveness Analysis

8.3.1. By Country

8.3.2. By Product Type

8.3.3. By Distribution channel

8.4. Key Takeaways

9. Latin America Homecare Medical Devices Market Analysis 2017-2021 and Forecast 2022-2032, By Country

9.1. Historical Market Size Value (US$ Mn) Trend Analysis By Market Taxonomy, 2017-2021

9.2. Market Size Value (US$ Mn) Forecast By Market Taxonomy, 2022-2032

9.2.1. By Country

9.2.1.1. Brazil

9.2.1.2. Mexico

9.2.1.3. Rest of Latin America

9.2.2. By Product Type

9.2.3. By Distribution channel

9.3. Market Attractiveness Analysis

9.3.1. By Country

9.3.2. By Product Type

9.3.3. By Distribution channel

9.4. Key Takeaways

10. Europe Homecare Medical Devices Market Analysis 2017-2021 and Forecast 2022-2032, By Country

10.1. Historical Market Size Value (US$ Mn) Trend Analysis By Market Taxonomy, 2017-2021

10.2. Market Size Value (US$ Mn) Forecast By Market Taxonomy, 2022-2032

10.2.1. By Country

10.2.1.1. Germany

10.2.1.2. U.K.

10.2.1.3. France

10.2.1.4. Spain

10.2.1.5. Italy

10.2.1.6. Rest of Europe

10.2.2. By Product Type

10.2.3. By Distribution channel

10.3. Market Attractiveness Analysis

10.3.1. By Country

10.3.2. By Product Type

10.3.3. By Distribution channel

10.4. Key Takeaways

11. Asia Pacific Homecare Medical Devices Market Analysis 2017-2021 and Forecast 2022-2032, By Country

11.1. Historical Market Size Value (US$ Mn) Trend Analysis By Market Taxonomy, 2017-2021

11.2. Market Size Value (US$ Mn) Forecast By Market Taxonomy, 2022-2032

11.2.1. By Country

11.2.1.1. China

11.2.1.2. Japan

11.2.1.3. South Korea

11.2.1.4. Malaysia

11.2.1.5. Singapore

11.2.1.6. Australia

11.2.1.7. Rest of Asia Pacific

11.2.2. By Product Type

11.2.3. By Distribution channel

11.3. Market Attractiveness Analysis

11.3.1. By Country

11.3.2. By Product Type

11.3.3. By Distribution channel

11.4. Key Takeaways

12. MEA Homecare Medical Devices Market Analysis 2017-2021 and Forecast 2022-2032, By Country

12.1. Historical Market Size Value (US$ Mn) Trend Analysis By Market Taxonomy, 2017-2021

12.2. Market Size Value (US$ Mn) Forecast By Market Taxonomy, 2022-2032

12.2.1. By Country

12.2.1.1. GCC Countries

12.2.1.2. South Africa

12.2.1.3. Israel

12.2.1.4. Rest of MEA

12.2.2. By Product Type

12.2.3. By Distribution channel

12.3. Market Attractiveness Analysis

12.3.1. By Country

12.3.2. By Product Type

12.3.3. By Distribution channel

12.4. Key Takeaways

13. Key Countries Homecare Medical Devices Market Analysis

13.1. U.K.

13.1.1. Pricing Analysis

13.1.2. Market Share Analysis, 2021

13.1.2.1. By Product Type

13.1.2.2. By Distribution channel

13.2. Canada

13.2.1. Pricing Analysis

13.2.2. Market Share Analysis, 2021

13.2.2.1. By Product Type

13.2.2.2. By Distribution channel

13.3. Brazil

13.3.1. Pricing Analysis

13.3.2. Market Share Analysis, 2021

13.3.2.1. By Product Type

13.3.2.2. By Distribution channel

13.4. Mexico

13.4.1. Pricing Analysis

13.4.2. Market Share Analysis, 2021

13.4.2.1. By Product Type

13.4.2.2. By Distribution channel

13.5. Rest of Latin America

13.5.1. Pricing Analysis

13.5.2. Market Share Analysis, 2021

13.5.2.1. By Product Type

13.5.2.2. By Distribution channel

13.6. Germany

13.6.1. Pricing Analysis

13.6.2. Market Share Analysis, 2021

13.6.2.1. By Product Type

13.6.2.2. By Distribution channel

13.7. U.K.

13.7.1. Pricing Analysis

13.7.2. Market Share Analysis, 2021

13.7.2.1. By Product Type

13.7.2.2. By Distribution channel

13.8. France

13.8.1. Pricing Analysis

13.8.2. Market Share Analysis, 2021

13.8.2.1. By Product Type

13.8.2.2. By Distribution channel

13.9. Spain

13.9.1. Pricing Analysis

13.9.2. Market Share Analysis, 2021

13.9.2.1. By Product Type

13.9.2.2. By Distribution channel

13.10. Italy

13.10.1. Pricing Analysis

13.10.2. Market Share Analysis, 2021

13.10.2.1. By Product Type

13.10.2.2. By Distribution channel

13.11. Rest of Europe

13.11.1. Pricing Analysis

13.11.2. Market Share Analysis, 2021

13.11.2.1. By Product Type

13.11.2.2. By Distribution channel

13.12. China

13.12.1. Pricing Analysis

13.12.2. Market Share Analysis, 2021

13.12.2.1. By Product Type

13.12.2.2. By Distribution channel

13.13. Japan

13.13.1. Pricing Analysis

13.13.2. Market Share Analysis, 2021

13.13.2.1. By Product Type

13.13.2.2. By Distribution channel

13.14. South Korea

13.14.1. Pricing Analysis

13.14.2. Market Share Analysis, 2021

13.14.2.1. By Product Type

13.14.2.2. By Distribution channel

13.15. Malaysia

13.15.1. Pricing Analysis

13.15.2. Market Share Analysis, 2021

13.15.2.1. By Product Type

13.15.2.2. By Distribution channel

13.16. Singapore

13.16.1. Pricing Analysis

13.16.2. Market Share Analysis, 2021

13.16.2.1. By Product Type

13.16.2.2. By Distribution channel

13.17. Australia

13.17.1. Pricing Analysis

13.17.2. Market Share Analysis, 2021

13.17.2.1. By Product Type

13.17.2.2. By Distribution channel

13.18. Rest of Asia Pacific

13.18.1. Pricing Analysis

13.18.2. Market Share Analysis, 2021

13.18.2.1. By Product Type

13.18.2.2. By Distribution channel

13.19. GCC Countries

13.19.1. Pricing Analysis

13.19.2. Market Share Analysis, 2021

13.19.2.1. By Product Type

13.19.2.2. By Distribution channel

13.20. South Africa

13.20.1. Pricing Analysis

13.20.2. Market Share Analysis, 2021

13.20.2.1. By Product Type

13.20.2.2. By Distribution channel

13.21. Israel

13.21.1. Pricing Analysis

13.21.2. Market Share Analysis, 2021

13.21.2.1. By Product Type

13.21.2.2. By Distribution channel

13.22. Rest of MEA

13.22.1. Pricing Analysis

13.22.2. Market Share Analysis, 2021

13.22.2.1. By Product Type

13.22.2.2. By Distribution channel

14. Market Structure Analysis

14.1. Competition Dashboard

14.2. Competition Benchmarking

14.3. Market Share Analysis of Top Players

14.3.1. By Regional

14.3.2. By Product Type

14.3.3. By Distribution channel

15. Competition Analysis

15.1. Competition Deep Dive

15.1.1. AirSep

15.1.1.1. Overview

15.1.1.2. Product Portfolio

15.1.1.3. Profitability by Market Segments

15.1.1.4. Sales Footprint

15.1.1.5. Strategy Overview

15.1.1.5.1. Marketing Strategy

15.1.2. SeQual

15.1.2.1. Overview

15.1.2.2. Product Portfolio

15.1.2.3. Profitability by Market Segments

15.1.2.4. Sales Footprint

15.1.2.5. Strategy Overview

15.1.2.5.1. Marketing Strategy

15.1.3. Drive Medical

15.1.3.1. Overview

15.1.3.2. Product Portfolio

15.1.3.3. Profitability by Market Segments

15.1.3.4. Sales Footprint

15.1.3.5. Strategy Overview

15.1.3.5.1. Marketing Strategy

15.1.4. Graham Field

15.1.4.1. Overview

15.1.4.2. Product Portfolio

15.1.4.3. Profitability by Market Segments

15.1.4.4. Sales Footprint

15.1.4.5. Strategy Overview

15.1.4.5.1. Marketing Strategy

15.1.5. Inogen

15.1.5.1. Overview

15.1.5.2. Product Portfolio

15.1.5.3. Profitability by Market Segments

15.1.5.4. Sales Footprint

15.1.5.5. Strategy Overview

15.1.5.5.1. Marketing Strategy

15.1.6. Invacare

15.1.6.1. Overview

15.1.6.2. Product Portfolio

15.1.6.3. Profitability by Market Segments

15.1.6.4. Sales Footprint

15.1.6.5. Strategy Overview

15.1.6.5.1. Marketing Strategy

15.1.7. Meyra

15.1.7.1. Overview

15.1.7.2. Product Portfolio

15.1.7.3. Profitability by Market Segments

15.1.7.4. Sales Footprint

15.1.7.5. Strategy Overview

15.1.7.5.1. Marketing Strategy

15.1.8. Permobil

15.1.8.1. Overview

15.1.8.2. Product Portfolio

15.1.8.3. Profitability by Market Segments

15.1.8.4. Sales Footprint

15.1.8.5. Strategy Overview

15.1.8.5.1. Marketing Strategy

15.1.9. Handicare

15.1.9.1. Overview

15.1.9.2. Product Portfolio

15.1.9.3. Profitability by Market Segments

15.1.9.4. Sales Footprint

15.1.9.5. Strategy Overview

15.1.9.5.1. Marketing Strategy

15.1.10. Philips Respironics

15.1.10.1. Overview

15.1.10.2. Product Portfolio

15.1.10.3. Profitability by Market Segments

15.1.10.4. Sales Footprint

15.1.10.5. Strategy Overview

15.1.10.5.1. Marketing Strategy

15.1.11. Teijin

15.1.11.1. Overview

15.1.11.2. Product Portfolio

15.1.11.3. Profitability by Market Segments

15.1.11.4. Sales Footprint

15.1.11.5. Strategy Overview

15.1.11.5.1. Marketing Strategy

15.1.12. Sunrise Medical

15.1.12.1. Overview

15.1.12.2. Product Portfolio

15.1.12.3. Profitability by Market Segments

15.1.12.4. Sales Footprint

15.1.12.5. Strategy Overview

15.1.12.5.1. Marketing Strategy

15.1.13. Pride inc

15.1.13.1. Overview

15.1.13.2. Product Portfolio

15.1.13.3. Profitability by Market Segments

15.1.13.4. Sales Footprint

15.1.13.5. Strategy Overview

15.1.13.5.1. Marketing Strategy

16. Assumptions & Acronyms Used

17. Research Methodology

Homecare Medical Devices Market

Homecare Medical Devices Market by Product Type, Distribution Channel & Region - Forecast 2022 - 2032