Global Home Healthcare Equipment Market Size and Forecast 2024-2033|LifeScan Inc., Microlife Corporation, A&D Company Limited, Abbott Laboratories, Hoffmann-La Roche AG

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The Home Healthcare Equipment Global Market Report 2024 by The Business Research Company provides market overview across 60+ geographies in the seven regions – Asia-Pacific, Western Europe, Eastern Europe, North America, South America, the Middle East, and Africa, encompassing 27 major global industries. The report presents a comprehensive analysis over a ten-year historic period (2010-2021) and extends its insights into a ten-year forecast period (2023-2033).

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According to The Business Research Company’s Home Healthcare Equipment Global Market Report 2024, The home healthcare equipment market size has grown strongly in recent years. It will grow from $34.22 billion in 2023 to $36.74 billion in 2024 at a compound annual growth rate (CAGR) of 7.4%. The growth in the historic period can be attributed to government initiatives for home healthcare, patient preference for home care, cost-effective care, improvement in patient outcomes, awareness and education programs, rural healthcare access, healthcare infrastructure development.

The home healthcare equipment market size is expected to see strong growth in the next few years. It will grow to $50.1 billion in 2028 at a compound annual growth rate (CAGR) of 8.1%. The growth in the forecast period can be attributed to digital health adoption, smart home integration, consumer-driven healthcare, advancements in remote diagnostics, expansion of telemedicine services.. Major trends in the forecast period include remote patient monitoring (rpm) technology, smart home healthcare devices, patient-friendly design and user interface, medication management devices, integration of artificial intelligence (ai) and machine learning.

The rise in the ageing population is expected to propel the growth of the home healthcare equipment market going forward. Ageing population refers to an increase in the proportion of elderly people due to changes in the age structure of a population. This demographic shift has resulted in an increase in the number and proportion of people over the age of 60. Home healthcare equipment helps the ageing population gain control over their bodies, enhance their strength, prevent injuries, and treat common illnesses and disorders without having to visit the doctor on a regular basis. For instance, in October 2022, according to the World Health Organization, a Switzerland-based specialized health agency, globally, 1 in 6 individuals would be 60 or older by 2030 and is expected to reach 2.1 billion elderly people by 2050. Therefore, the rise in the ageing population is driving the growth of the home healthcare equipment market going forward.

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The home healthcare equipment market covered in this report is segmented –

1) By Product: Blood Glucose Monitor, Blood Pressure Monitor, Rehabilitation equipment, Other Product

2) By Service: Rehabilitation, Infusion Therapy, Unskilled Care, Respiratory Therapy, Pregnancy Care, Skilled Nursing, Hospice and Palliative Care

3) By Application: Diagnostics and Monitoring, Therapeutics, Care and Rehabilitation, Other Application

4) By End User: Hospitals or Clinics or Diagnostic Lab, Research and Development Centre, Home Care Settings

Technological advancements are a key trend gaining popularity in the home healthcare equipment market. Companies operating in the home healthcare equipment market are adopting new technologies to sustain their position in the market. For instance, in October 2022, CommScope, a US-based network infrastructure provider, launched the HomeSight system for healthcare and homecare. This system integrates a TV-connected smart camera with an edge computer, a robust cloud service for data transfer and device administration, environmental sensors, and an LTE connectivity module for households without broadband access or as a backup connection. This enhanced end-user experience improves patient availability, engagement, and uptake of care services, while minimizing the need for in-person appointments or visits.

The home healthcare equipment market report table of contents includes:

1. Executive Summary

2. Home Healthcare Equipment Market Characteristics

3. Home Healthcare Equipment Market Trends And Strategies

4. Home Healthcare Equipment Market – Macro Economic Scenario

5. Global Home Healthcare Equipment Market Size and Growth

26. South America Home Healthcare Equipment Market

27. Brazil Home Healthcare Equipment Market

28. Middle East Home Healthcare Equipment Market

29. Africa Home Healthcare Equipment Market

30. Home Healthcare Equipment Market Competitive Landscape And Company Profiles

Top Major Players: