U.S. Home Medical Equipment Market by Functionality (Therapeutic Equipment, Patient Monitoring Equipment, and Mobility Assist & Patient Support Equipment) and Distribution Channel (Hospital Pharmacies, Retail Pharmacies, and Online Retailers)- Industry Analysis, Share, Growth, Regional Outlook and Forecasts, 2022-2030
The U.S. Home Medical Equipment market size was valued at US$ 12.23 billion in 2021 and is expected to hit US$ 21.13 billion by 2030, growing at a compound annual growth rate (CAGR) of 6.9% from 2022 to 2030.
- The study provides an in-depth analysis of the U.S. home medical equipment market size along with the current trends and future estimations to elucidate the imminent investment pockets.
- It offers U.S. home medical equipment market analysis from 2021 to 2030, which is expected to enable the stakeholders to capitalize on the prevailing opportunities in the market.
- A comprehensive analysis of factors that drive and restrain the growth of the market is provided.
- The profiles and growth strategies of the key players are thoroughly analyzed to understand the competitive outlook and U.S. home medical equipment market growth.
Therapeutic equipment segment is expected to witness a incline owing to a positive effect of COVID-19 pandemic on self-isolation treatment in homes, especially among elderly patients and increase in demand continuous positive airway pressure equipment, oxygen delivery equipment, ventilators, oxygen concentrators, and blood pressure monitors. In addition, glucose meters or glucometers are routinely being used at homes to assess the level of glucose in blood for diabetic patients. Therefore, growth in prevalence of contagious diseases and COVID-19 is predicted to fuel growth of the therapeutic equipment segment.
Home medical equipment are medical devices that offer safe, convenient, cost-effective, and suitable treatment or helps analyze whether a treatment given is effective for patients. These includes various devices that can be accessed by patients, nurses, or caregivers at home. These devices include automated external defibrillators, blood glucose monitors, blood pressure monitors, and Holter monitors. Patients suffering from chronic diseases, such as respiratory diseases, diabetes, cardiac disorders and other complications where a patient faces difficulty in moving from one place to another, have higher need for home medical equipment. These equipment make it easier for patients to carry their regular activities with ease, without the need to visit hospitals and clinics. This helps save their time and are proven to be cost efficient. Further, medical equipment used for mobility assistance are widely being used by geriatric population as well as patients with certain difficulties in mobility. Increase in incidences of asthma and chronic obstructive pulmonary disease (COPD) and oxygen-related products in home medical equipment are gaining considerable traction.
Surge in technological advancements such as making these equipment portable & easy to access and increase in prevalence of chronic diseases such as diabetes and blood pressure related diseases in the U.S are the major factors that propel the market growth. Furthermore, steep rise in geriatric population who need home medical equipment for both mobility and monitoring of progression of disease is also anticipated to contribute toward the market growth during the forecast period. However, high cost associated with medical equipment is anticipated to hinder growth of the market.
The world health organization (WHO) on January 30, 2020 declared COVID-19 outbreak, a public health emergency of international concern. COVID-19 has affected around 210 countries worldwide. Nationwide lockdown, government regulations, and continuous increase in infection rate across various countries created a widespread financial impact on various industries. In this regard, the medical equipment industry is experiencing a significant growth, owing to its use in combating the pandemic and monitoring patients. Devices such as continuous positive airway pressure equipment, oxygen delivery equipment, ventilators, oxygen concentrators, blood glucose monitors, and blood pressure monitors have witnessed a huge demand. This increase in demand owes to applications in home care settings to monitor progression of a particular disease and assist patients with mobility. In addition, surge in technological advancements is expected to help the U.S. home medical equipment market grow. For instance, newer technologies such as durable medical equipment, which include medical beds, stair lifts, and lift chairs, can be used conveniently in home settings to help in mobility assistance and patient support. Hence, the home medical equipment market is anticipated to generate remunerative prospects for manufacturers during and after the COVID-19 crisis.
Report Scope of the U.S. Home Medical Equipment Market
Market Size in 2021
USD 12.23 Billion
Revenue Projection By 2030
USD 21.13 Billion
CAGR of 6.9% from 2022 to 2030
2017 - 2020
2022 to 2030
Product , Distribution Channel
Abbott Laboratories, Baxter International Inc., B. Braun Melsungen AG, Becton, Dickinson and Company, General Electric Company (GE Healthcare), Hill-Rom Holdings, Inc.Invacare Corporation, Johnson & Johnson (Depuy Synthes), Medtronic Plc., Smith & Nephew Plc.
U.S. Home Medical Equipment Market Segmentation
The U.S. home medical equipment market is segmented on the basis of functionality and distribution channel. By functionality, the market is divided into therapeutic equipment, patient monitoring equipment, and mobility assist & patient support equipment. The therapeutic equipment segment is further classified into home respiratory therapy equipment, home IV equipment, home dialysis equipment, and other home therapeutic equipment. The market by home respiratory equipment is further divided into continuous positive airway pressure equipment, oxygen delivery equipment, ventilators, nebulizers, and humidifiers. The continuous positive airway pressure equipment is categorized into CPAP machines, CPAP masks & related interfaces, CPAP accessories, and oxygen delivery equipment.
By oxygen delivery equipment, the market is segmented into oxygen concentrators, home liquid oxygen containers, oxygen cannula, and other home oxygen delivery equipment. By home IV equipment, it is divided into IV pumps, IV administration, and IV accessories. By home dialysis equipment, the market is classified into home peritoneal dialysis product, home hemolysis product, and other home therapeutic equipment. The other home therapeutic equipment is sub-segmented into home physical therapy equipment, home negative pressure wound therapy devices, home braces & related products, home enteral feeding products, home automated external defibrillators, and home muscle & nerve stimulators. By patient monitoring equipment, the market is segmented into blood glucose monitors, blood pressure monitors, Holter monitors, peak flow meters, apnea monitors, heart rate monitors, baby monitors, electronic thermometers, coagulation monitor, and others.
The mobility assists & patient support equipment divides the market into wheelchairs, mobility scooters, walking assist devices, medical furniture, and bathroom safety equipment.
By wheelchair, the U.S. home medical equipment market is segmented into manual wheelchairs and powered wheelchairs. The mobility scooters are categorized into walking assist devices, walkers & rollators, canes & walking sticks, and crutches.
On the basis of medical furniture, the market is classified into lift chairs, medical beds, stair lifts, and medical furniture accessories. By bathroom safety equipment, it is fragmented into bars, grips & rails, shower chairs, elevated toilet seats, and commodes.
On the basis of distribution channel, the U.S. home medical equipment market is segmented into hospital pharmacies, retail pharmacies, and online retailers.
Presently, on the basis of functionality, the therapeutic equipment segment is the major revenue contributor, and is projected to grow significantly during the forecast period. Surge in prevalence of chronic conditions such as respiratory diseases, diabetes, and high blood pressure in the U.S. is anticipated to contribute toward growth of this segment. In addition, rise in technological advancements of products used for therapeutic purposes, increase in geriatric population in the U.S., and surge in launch of new and advanced therapeutic equipment are the key factors that boost growth of the segment.
Depending on distribution channel, the retail pharmacies segment is the major shareholder in the U.S. home medical equipment market, owing to availability of a wide variety of medical devices ranging from small portable medical devices to big sized mobility devices and medical furniture in retail medical stores. These retail stores are most preferred options for buying medical beds, wheelchairs, and lift chairs.
Some of the prominent players in the Home Medical Equipment market include:
- Abbott Laboratories
- Baxter International Inc.
- B. Braun Melsungen AG
- Dickinson and Company
- General Electric Company (GE Healthcare)
- Hill-Rom Holdings, Inc.Invacare Corporation
- Johnson & Johnson (Depuy Synthes)
- Medtronic Plc.
- Smith & Nephew Plc.
Segments Covered in the Report
This research report offers market revenue, sales volume, production assessment and prognoses by classifying it on the basis of various aspects. Further, this research study investigates market size, production, consumption and its development trends at U.S. for the period of 2017 to 2030
- Therapeutic Equipment
- Home Respiratory Therapy Equipment
- Continuous Positive Airway Pressure Equipment
- CPAP Machines
- CPAP Masks & Related Interfaces
- CPAP Accessories
- Oxygen Delivery Equipment
- Oxygen Concentrators
- Home Liquid Oxygen Containers
- Oxygen Cannula
- Other Home Oxygen Delivery Equipment
- Home IV Equipment
- IV Pumps
- IV Administration
- IV Accessories
- Home Dialysis Equipment
- Home Peritoneal Dialysis Product
- Home Hemolysis Product
- Home Physical Therapy Equipment
- Home Negative Pressure Wound Therapy Devices
- Home Braces & Related Products
- Home Enteral Feeding Products
- Home Automated External Defibrillators
- Home Muscle & Nerve StimulatorsPatient Monitoring Equipment
- Blood Glucose Monitors
- Blood Pressure Monitors
- Holter Monitors
- Peak Flow Monitors
- Apnea Monitors
- Heart Rate Monitors
- Baby Monitors
- Electronic Thermometers
- Coagulation Monitors
- Mobility Assist & Patient Support Equipment
- Manual Wheelchairs
- Powered Wheelchairs
- Mobility Scooters
- Walking Assist Devices
- Walkers & Rollators
- Canes & Walking Sticks
- Medical Furniture
- Lift Chairs
- Medical Beds
- Stair Lifts
- Medical Furniture Accessories
- Bathroom Safety Equipment
- Bars, Grips & Rails
- Shower Chairs
- Elevated Toilet Seats
By Distribution Channel
- Hospital Pharmacies
- Retail Pharmacies
- Online Retailers
Key Points Covered in U.S. Home Medical Equipment Market Study:
- Growth of U.S. Home Medical Equipment in 2022
- Market Estimates and Forecasts (2017-2030)
- Brand Share and Market Share Analysis
- Key Drivers and Restraints Shaping Market Growth
- Competition Mapping and Benchmarking
- Recommendation on Key Winning Strategies
- COVID-19 Impact on Demand for U.S. Home Medical Equipment and How to Navigate
- Key Product Innovations and Regulatory Climate
- U.S. Home Medical Equipment Consumption Analysis
- U.S. Home Medical Equipment Production Analysis
- U.S. Home Medical Equipment and Management