Home Medical Equipment MarketSize and Trends

Home Medical Equipment Market

On the basis of product type, the global market is segmented into:

Home Tests and Patient Monitoring Equipment
Home Therapeutic Equipment
Patient Support Equipment

In home medical equipment market, North America is the largest geographic region, followed by Europe. This is mainly attributed to robust healthcare infrastructure, technological advancement, high disposable income, and good reimbursement policies in the region. In the U.S., provisions of the Obamacare Act that provides health insurance to 30 million uninsured people in the country creates a highly conducive environment for growth of the home medical equipment market. Increasing demographics and rising healthcare spending in emerging economies such as India and China are further expected to favor growth of the market in home medical equipment. The market in the Asia Pacific region is expected to experience high growth rate in the near future due to increasing awareness and shortage of professional medical services providers in the region. Furthermore, technological innovation have led to development of advancement products which would augment growth of the market. In the global home medical equipment industry, an increasing number of mergers and acquisitions and new product launches are the latest trends that have been observed in the recent past.