According to a new report published by Allied Market Research titled, “The U.S. home medical equipment market size was valued at $11,537 million in 2019, and is projected to reach $20,412 million by 2027, registering a CAGR of 5.6% from 2020 to 2027. Increase in technological advancements such as medical beds, stair lifts, and lift chairs for mobility assistance fueled the market growth.
Comprehensive competitive analysis and profiles of major market players, such as
The U.S. home medical equipment market includes an in-depth analysis of the prime market players such as Baxter International Inc., Abbott Laboratories, Becton, Dickinson and Company, B. Braun Melsungen AG, Hill-Rom Holdings, Inc., General Electric Company (GE Healthcare), Johnson & Johnson (Depuy Synthes), Invacare Corporation, Medtronic Plc., and Smith & Nephew Plc.
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Increase in prevalence of chronic diseases, surge in geriatric populations, and technological advancements drive the growth of the U.S. home medical equipment market. However, limited expertise for home-based users and complications associated with use of medical equipment hinder the market growth. On the contrary, surge in demand for home medical equipment is expected to open new opportunities for the market players in the coming years.
Key Findings Of The Study
- By functionality, the therapeutic equipment segment held largest market share in 2019, and is expected to remain dominant throughout the forecast period.
- On the basis of distribution channel, the retail pharmacies segment held largest market share in 2019, and is expected to remain dominant throughout the forecast period.
The U.S. home medical equipment market is segmented on the basis of functionality and distribution channel. On the basis of functionality, the market is divided into therapeutic equipment, patient monitoring equipment, and mobility assist & patient support equipment.
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FREQUENTLY ASKED QUESTIONS?
Q1. What was the size of the global U.S. Home Medical Equipment Market in 2021?
Q2. How much will the global U.S. Home Medical Equipment Market be worth in the future?
Q3. What would be forecast period in the market report?
Q4. What are the segments of U.S. Home Medical Equipment Market?
Q5. The global U.S. Home Medical Equipment Market is segmented on the basis of product type, connectivity, distribution channel, and region.
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