Increasing practices of use of technology for self-health management to reduce burden on formal healthcare systems have led to spurt in demand for home medical equipment. Individuals with chronic diseases seek recourse to home medical device to manage their own health, receive assistance for health management, or assist others with healthcare.
Cost-effective healthcare solutions in home settings are mostly viable for chronic diseases such as blood pressure and arthritis that mostly requires lifelong medical care need. These medical care solutions, however, need to be safe and convenient.
The home medical equipment market is divided on the basis of product, software, and region. Broadly, by product, home medical equipment market comprise testing, screening, and monitoring products, therapeutic products, mobility care products. Mostly, home medical equipment are used for kidney disorders, respiratory diseases, and cancer.
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The home medical equipment market report scrutinizes current status and standpoint of home medical equipment market from various perspectives, including market segmentation and competitive structure. The report delves into each and every vital aspect, including competitive dynamics that are all-important to understand the growth trajectory of home medical equipment market in the forthcoming years. It does so via standard statistical tools and industry-centric research methodologies.
Home Medical Equipment Market – Key Trends
Vast rise in incidence of chronic diseases has spawned practices of home healthcare. Individuals afflicted with chronic diseases such as hypertension and diabetes look for cost-effective medical care not compromising in quality of care and safety.
Home medical equipment that are certified by regulatory agencies find wide acceptance for cost factor and convenience. For example, insulin delivery devices and inhalers are some commonly used home medical equipment that saves vast healthcare expenses for individuals.
Technological advances in home medical equipment is another key factor behind their increasing adoption. Due to technological advances coupled with cognizance for technology among individuals, use of home medical equipment is pacing rapidly. Adoption of expensive technologically medical equipment for home use involves one-time cost that offsets cost incurred due to repeated hospital visits.
Home Medical Equipment Market – Regional Outlook
The home medical equipment market is divided into North America, Asia Pacific, Europe, Latin America, and Middle East and Africa. North America, among all, commands leading share in the home medical equipment market.
Technological advancements, high disposable income, and awareness among individuals for availability of home medical care are key factors behind staggering demand for home medical equipment in the region.
Key points covered in the report
Report segments the market on the basis of types, application, products, technology, etc (as applicable)
The report covers geographic segmentation
- North America
- Europe
- Asia
- RoW
The report provides the market size and forecast for the different segments and geographies for the period of 2010 to 2020
The report provides company profiles of some of the leading companies operating in the market
The report also provides porters five forces analysis of the market.