Home Healthcare Equipment Market is Expected to Grow at a CAGR of 7.0% Over the Forecast period (2016-2024)

Posted on 2018-09-01 by Goldstein Research in Healthcare // 0 Comments

New York, USA, 2018-Sep-01 — /EPR Network/ —The global home healthcare market is expected to generate the revenue of USD 500 billion by 2024. Global home healthcare equipment market is around 12-15% of total home health care market, which is anticipated to reach USD 50 billion by the end of 2024, growing at a CAGR of 7% during the forecast period and rest of the share is generated by home healthcare services.

With time becoming more precious a significant number of populations prefers for devices which can provide diagnosis, care within the home environment. This procedure helps the patients in saving time and utilizes the saved time for other productive activities. Diabetes among other diseases accounts for the largest share (45% in 2006) in the home healthcare equipment market. The development in the field of blood glucose monitoring, insulin management, sleep apnea, cardiac rhythm management will be the main growth drivers of home health. In the global home healthcare equipment market, the services segment is the largest, providing services like rehabilitation, tele-health and telemedicine, respiratory therapy, infusion therapy and unskilled home healthcare services. While on the other hand, the home healthcare equipment market is facing challenges like providing services for chronic illness, changing reimbursement policies and limited insurance coverage.

According to Goldstein Research, global home healthcare equipment market is segmented on the basis of device type, distribution channel and by end-user. Based on product, diagnostic and monitoring devices are expected to account for the largest revenue share in home healthcare equipment market by 2024, due to the significance of preventive medicine and the potential to decrease health-related complications and portability of devices with accuracy. However, the fastest growing segment is therapeutics devices comprises of insulin delivery devices, nebulizers, ventilators and CPAP devices to treat sleep apnea, IV equipment and dialysis equipment, which is expected to grow at a CAGR of 10-12% from 2015 to 2024. In 2015, U.S. and Canada were the largest geographies which held 35% share in global home health care equipment market followed by Europe and APAC, is the emerging market.

“Global Home healthcare equipment Market Outlook, 2016-2024” covers the present ground scenario and future opportunity prospects for the market players to analyze the target markets across the globe. Moreover, the competitive analysis includes the in-depth analysis of the major players and leaders in the healthcare industry.

The market study conducted on the basis of primary as well as secondary research where the analysts fragment the data from various databases such as Bloomberg, Factiva, Owler and others. Our primary research team conducted various interviews, surveys and group discussions of industry home healthcare equipment manufacturers, suppliers, and distributors, pharmaceutical & biotechnology companies, healthcare institutions, clinical centres, medical research laboratories and academic medical centres and universities to analyze the future prospects of the overall healthcare industry.

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Market Segmentation

Global Home healthcare equipment Market Segmentation can be classified on the basis of:

Based on Device

Diagnostics and Monitoring Home Healthcare Devices
Blood Pressure Monitors
Blood Glucose Monitors
Pulse Oximeters
Peak Flow Meters
Heart Rate Monitors
Fetal Monitoring Devices
HIV Test Kits
Sleep Apnea Monitors
Coagulation Monitors
Ovulation and Pregnancy Test Kits
Holter and Event Monitors
Cholesterol Monitoring Devices
Colon Cancer Test Kits
Home Hemoglobin A1c Test Kits
Drug and Alcohol Test Kits
ECG/EKG Devices
EEG Devices
Temperature Monitors
Hearing Aids
Pedometers
Therapeutics Home Healthcare Devices
Oxygen Delivery Systems
Nebulizers
Ventilators
Sleep Apnea Therapeutic Devices
Wound Care Products
IV Equipment
Dialysis Equipment
Insulin Delivery Devices
Inhalers
Other Therapeutic Products (Ostomy Devices, Automated External Defibrillators, and External Stimulation Devices)
Home Mobility Assist Devices
Canes
Crutches
Mobility Scooters
Walkers and Rollators
Wheelchairs
Medical Supplies

Based on Distribution Channel

Offline Channel
Online Sales

Based on End User

Hospitals/Clinics/Diagnostic Lab
Research and Development Centre
Home Care Settings

By Geography

North America (US, Canada)Home Healthcare Equipment Market {Market Share (%), Market Size (USD Billion), Adoption Rate (%)}
Europe (UK, France, Italy, Germany, Spain, Hungary, Sweden, Russia, Poland and Rest of Europe) Home Healthcare Equipment Market {Market Share (%), Market Size (USD Billion), Adoption Rate (%)}
The Middle East and Africa (GCC Countries, North Africa, South Africa and Rest of the Middle East & Africa) Home Healthcare Equipment Market {Market Share (%), Market Size (USD Billion), Adoption Rate (%)}
Latin America (Brazil, Mexico and Rest of Latin America)Home Healthcare Equipment Market {Market Share (%), Market Size (USD Billion), Adoption Rate (%)}
Asia Pacific (China, Japan, India, Singapore, South Korea, Australia, New Zealand and Rest of Asia-Pacific) Home Healthcare Equipment Market {Market Share (%), Market Size (USD Billion), Adoption Rate (%)}

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Market Trends, Drivers & Challenges

The demographic and attitudinal shifts in the health care equipment market are reinforced by such trends as the rising cost of institutional care, awareness among the population, and a growing receptivity to home health care among physicians and private and public insurance companies. According to the World Health Organization (WHO), the number of people who are 65 years and older is expected to increase to 2 billion by 2050 from 605 million in 2000. To meet the challenges of rising healthcare cost, increase in aging population is impacting healthcare system, resulting in hospital consolidations, decrease in inpatient time and providing reservation for critical patients with acute care hospital beds in the case of life threatening diseases.

Due to the mentioned factors and rise in the role of medicare services, has given rise to home healthcare device market. Due to direct sales through the Internet has brought the distribution channel consolidation, leading to a decrease in the number of distributers in the global homecare equipment market.

“Global Home Healthcare Equipment Market Report” has been prepared based on an in-depth market analysis from industry experts. The report covers the competitive landscape and current position of major players in the market space. The market analysis report also includes porter’s five force model, SWOT analysis, company profiling, business strategies of market players and their business models. Global home healthcare equipment market report also recognizes value chain analysis to understand the cost differentiation to provide the competitive advantage to the existing and new entry players.

Overall, the report represents the global home healthcare equipment market trends along with a market forecast that will help industry consultants, technology providers, existing players searching for expansion opportunities, new players searching possibilities and other stakeholders to align their market-centric strategies according to the ongoing and expected trends in the future.

About Goldstein Research

Based in the US, Goldstein Research currently has a strong presence in the American and Asian countries. In the next five years, we strive to expand our reach to 50+ nations spanning across Europe, Asia and parts of the Middle East and Africa. We strive to realize a strong brand presence globally through our quality research and forecasting solutions.

Our mission is simple: to develop insightful business solutions, help our clients make powerful future decisions to keep them well ahead of the game which is the market, and leave a mark across businesses and communities through our well-defined ideas and clear-cut forecasts.

Our market research reports provide in-depth analysis of global and regional variations along with competitors’ overview. Our analysts working on healthcare market reports helping various tech-giants, tech start-ups and entry players to assess the current and upcoming business scenario. We believe in the rigorous examination of the current market scenario and build around creative ideas and approaches that are most suitable for our clients’ needs and business agenda.

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