Home Healthcare Equipment Global Market Report 2023
Major players in the home healthcare equipment market are LifeScan Inc., Microlife Corporation, A&D Company Limited, Abbott Laboratories,, Roche Healthcare, Panasonic, Yuwell, SANNUO, Osim International, Siemens AG, Insulet Corporation, Phonak, William Demant, Invacare, 3M Company, and ARKRAY Inc.
New York, April 27, 2023 (GLOBE NEWSWIRE) -- Reportlinker.com announces the release of the report "Home Healthcare Equipment Global Market Report 2023" - https://www.reportlinker.com/p06450859/?utm_source=GNW
The global home healthcare equipment market is expected to grow from $31.99 billion in 2022 to $34.44 billion in 2023 at a compound annual growth rate (CAGR) of 7.6%. The Russia-Ukraine war disrupted the chances of global economic recovery from the COVID-19 pandemic, at least in the short term. The war between these two countries has led to economic sanctions on multiple countries, a surge in commodity prices, and supply chain disruptions, causing inflation across goods and services and affecting many markets across the globe. The home healthcare equipment market is expected to grow to $45.8 billion in 2027 at a CAGR of 7.4%.
The home healthcare equipment market consists of sales of hospital bed, backrest, nebuliser, multipara monitor.Values in this market are ‘factory gate’ values, that is the value of goods sold by the manufacturers or creators of the goods, whether to other entities (including downstream manufacturers, wholesalers, distributors and retailers) or directly to end customers.
The value of goods in this market includes related services sold by the creators of the goods.
Home healthcare equipment refers to the equipment that provides a medical purpose, can sustain repeated usage, and is suitable for use at home. The home healthcare equipment is used to serve a medical purpose and are appropriate for use in the home.
North America was the largest region in the home health care equipment market in 2022. The regions covered in the home healthcare equipment market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East and Africa.
The main product in home healthcare equipment are blood glucose monitor, blood pressure monitor, rehabilitation equipment and others.A blood glucose monitor refers to a device that automatically tracks blood glucose levels throughout the day and night.
The major services include rehabilitation, infusion therapy, unskilled care, respiratory therapy, pregnancy care, skilled nursing and hospice and palliative care that are used in diagnostics and monitoring, therapeutics, care and rehabilitation and other applications. The different end users include hospitals or clinics or diagnostic lab, research and development centre and home care settings.
The rise in the ageing population is expected to propel the growth of the home healthcare equipment market going forward.The ageing population refers to an increase in the proportion of elderly people due to changes in the age structure of a population.
This demographic shift has resulted in an increase in the number and proportion of people over the age of 60.Home healthcare equipment helps the ageing population gain control over their bodies, enhance their strength, prevent injuries, and treat common illnesses and disorders without having to visit the doctor on a regular basis.
For instance, in September 2020, according to World Population Ageing 2020 Highlights, a US-based intergovernmental organization, 2020, there were 727 million people over the age of 65 in the world. Also globally it is anticipated that the percentage of people aged 65 and over will rise from 9.3% in 2020 to almost 16% in 2050. Therefore, the rise in the ageing population is driving the growth of the home healthcare equipment market going forward.
Technological advancements are a key trend gaining popularity in the home healthcare equipment market.Companies operating in the home healthcare equipment market are adopting new technologies to sustain their position in the market.
For instance, in October 2022, CommScope, a US-based network infrastructure provider, launched HomeSight system for healthcare and homecare.This system integrates a TV-connected smart camera with edge computer, a robust cloud service for data transfer and device administration, environmental sensors, and an LTE connectivity module for households without broadband access or as a backup connection.
This enhanced end-user experience improves patient availability, engagement, and uptake of care services, while minimising the need for in-person appointments or visits.
In December 2021, Paradigm, a US-based company engaged in catastrophic and complex health care challenges and improving lives, acquired HomeCare Connect for an undisclosed amount.This acquisition is expected to expand Paradigm’s specialized network and clinical solution sets, as well as extend the accountable care management concept into the home.
It adds a highly complementary set of offerings to Paradigm’s product line and is a logical extension into the burgeoning home health industry. HomeCare Connect is a US-based company engaged in manufacturing home health, durable medical equipment (DME), and related services.
The countries covered in the home healthcare equipment market report are Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK, USA.
The market value is defined as the revenues that enterprises gain from the sale of goods and/or services within the specified market and geography through sales, grants, or donations in terms of the currency (in USD, unless otherwise specified).
The revenues for a specified geography are consumption values that are revenues generated by organizations in the specified geography within the market, irrespective of where they are produced. It does not include revenues from resales along the supply chain, either further along the supply chain or as part of other products.
The home healthcare equipment report is one of a series of new reports that provides home healthcare equipment statistics, including home healthcare equipment industry global market size, regional shares, competitors with a home healthcare equipment share, detailed home healthcare equipment segments, market trends and opportunities, and any further data you may need to thrive in the home healthcare equipment industry. This home healthcare equipment market research report delivers a complete perspective of everything you need, with an in-depth analysis of the current and future scenario of the industry.
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