Home medical equipment refers to medical devices that are designed to provide safe and effective treatment to patients in the comfort of their own homes. These devices are cost-effective and can significantly reduce the stress related to treatment, leading to a faster recovery and improved quality of life. Also known as durable medical equipment (DME), these devices are suitable for use in home settings and are designed to be used repeatedly by non-professionals or the patient themselves. Examples of home healthcare equipment include digital blood pressure monitors, blood glucose meters, and other medical electric equipment. The term also encompasses products such as breast pumps, nebulizers, prosthetic devices, and personal hygiene products. Using home healthcare equipment can reduce the duration of a patient's stay in hospitals, nursing homes, or clinics.
The global Home Medical Equipment Market is experiencing growth due to various factors, such as an aging population, an increase in chronic illnesses, and rising healthcare expenses. Consumer awareness, patient preference for home-based care, and advancements in technology like wearable devices and telehealth are also driving this growth. The Affordable Care Act has led to a rise in insured populations, contributing to the expansion of this market.
Top Companies in the Home Medical Equipment Industry:
1. Stryker
Stryker was established in 1941 and is headquartered in Kalamazoo, Michigan, United States. It operates in over 100 countries and is engaged in various industries, including biotechnology, healthcare, life science, and medical devices. In 2023, Stryker announced the launch of the Xpedition powered stair chair.
2. B. Braun Melsungen AG
B. Braun Melsungen AG was established in 1839 and is headquartered in Melsungen, Germany. It operates in more than 60 countries and is engaged in various industries, including clinical trials, healthcare, manufacturing, medical devices, and pharmaceuticals. In 2022, B. Braun acquired a suite of catheter securement products from Starboard medical.
3. Baxter
Baxter was established in 1931 and is headquartered in Deerfield, Illinois, United States. It operates in more than 100 countries and is engaged in various industries, including biotechnology, clinical trials, healthcare, and medical. In 2023, Baxter announced a medical device correction for the ventilation system.
4. GE Healthcare
GE Healthcare was established in 1892 and is headquartered in Chicago, Illinois, United States. It operates in over 160 countries and is engaged in various industries, including healthcare, health diagnostics, and medical. In 2018, GE Healthcare and Roche Ltd. entered into a partnership to develop a diagnostic platform to improve critical care treatment.
5. ResMed
ResMed was established in 1989 and is headquartered in San Diego, California, United States. It operates in over 100 countries and is engaged in various industries, including healthcare, medical, and medical devices. In 2019, ResMed launched the next-generation resupply solution.
6. AstraZeneca
AstraZeneca was established in 1999 and is headquartered in Cambridge, United Kingdom. It operates in over 100 countries and is engaged in various industries, including biopharma, biotechnology, healthcare, medical, and pharmaceutical.
7. F. Hoffmann-La Roche Ltd.
F. Hoffmann-La Roche Ltd. was established in 1896 and is headquartered in Basel, Switzerland. It operates in over 100 countries and is engaged in various industries, including biotechnology, healthcare, health diagnostics, and pharmaceuticals.
8. Abbott Laboratories
Abbott Laboratories was established in 1888 and is headquartered in Chicago, Illinois, United States. It operates in 24 countries and is engaged in the manufacturing of medical devices, pharmaceuticals, diagnostics, and nutritional products.
9. Philips Healthcare
Philips Healthcare was established in 1891 and is headquartered in Amsterdam, the Netherlands. It operates in over 100 countries and is engaged in providing healthcare, consumer lifestyle, electronic, and lighting products, solutions, and services.
10. Medline Industry
Medline Industry was established in 1966 and is headquartered in Northfield, Illinois, United States. It operates in over 125 countries and is engaged in various industries, including consumer goods, healthcare, hospitality, medical, and manufacturing.
11. CareFusion Corporation
CareFusion Corporation was established in 2009 and is headquartered in San Diego, California, United States. It operates in nearly 130 countries and is engaged in various industries, including healthcare, medical, manufacturing, and information technology.
Definition: "Medical equipment" refers to tools, devices, and machines used in the diagnosis, treatment, and monitoring of medical conditions.
