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The home healthcare equipment market size growth is expected to progress at a CAGR of 7.73% and is estimated to grow to USD 3.10 billion from 2021 to 2026.
The home healthcare equipment market research report is extensively segmented as follows:
This home healthcare equipment market research report provides valuable insights on the post-COVID-19 impact on the market, which will help companies evaluate their business approaches. The home healthcare equipment market report offers information on several market vendors, including 3M Co., Abbott Laboratories, ARKRAY Inc., B. Braun SE, Baxter International Inc., Becton Dickinson and Co., Boston Scientific Corp., Cardinal Health Inc., General Electric Co., Home Medical Products Inc., Invacare Corp., Johnson and Johnson, Medline Industries Inc., Medtronic Plc, OMRON Corp., ResMed Inc., Rotech Healthcare Inc., Smiths Group Plc, Stryker Corp., and Thermo Fisher Scientific Inc. among others.
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The rise in the geriatric population is notably driving the home healthcare equipment market growth, although factors such as the lack of adequate healthcare services in developing countries may impede market growth. Our research analysts have studied the historical data and deduced the key market drivers and the COVID-19 pandemic impact on the home healthcare equipment industry. The holistic analysis of the drivers will help in deducing end goals and refining marketing strategies to gain a competitive edge.
Key Home Healthcare Equipment Market Driver
Key Home Healthcare Equipment Market Trend
Key Home Healthcare Equipment Market Challenge
This home healthcare equipment market analysis report also provides detailed information on other upcoming trends and challenges that will have a far-reaching effect on the market growth. The actionable insights on the trends and challenges will help companies evaluate and develop growth strategies for 2022-2026.
Technavio categorizes the global home healthcare equipment market as a part of the global healthcare equipment market. Our research report has extensively covered external factors influencing the parent market growth potential in the coming years, which will determine the levels of growth of the home healthcare equipment market during the forecast period.
The report analyzes the market's competitive landscape and offers information on several market vendors, including:
This statistical study of the home healthcare equipment market encompasses successful business strategies deployed by the key vendors.
The home healthcare equipment market is fragmented and the vendors are focusing on improving the following factors to compete in the market:
To make the most of the opportunities and recover from the post-COVID-19 impact, market vendors should focus more on the growth prospects in the fast-growing segments, while maintaining their positions in the slow-growing segments.
The home healthcare equipment market forecast report offers in-depth insights into key vendor profiles. The profiles include information on the leading companies' production, sustainability, and prospects.
Our report provides extensive information on the value chain analysis for the home healthcare equipment market, which vendors can leverage to gain a competitive advantage during the forecast period. The end-to-end understanding of the value chain is essential in profit margin optimization and evaluation of business strategies. The data available in our value chain analysis segment can help vendors drive costs and enhance customer services during the forecast period.
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38% of the market's growth will originate from North America during the forecast period. The US and Canada are the key markets for the home healthcare equipment market in North America. Market growth in this region will be faster than the growth of the market in Rest of World (ROW).
The growth of the aging population will facilitate the home healthcare equipment market growth in North America over the forecast period. This market research report entails detailed information on the competitive intelligence, marketing gaps, and regional opportunities in store for vendors, which will assist in creating efficient business plans.
COVID Impact and Recovery Analysis
In 2020, owing to the COVID-19 outbreak, many users, especially academic research institutes and industries that manufacture non-essential and essential items, partially shut down their operations. This had a negative impact on the regional market. . However, home healthcare equipment is being increasingly adopted by individuals with COVID-19 as a part of treatment and daily telemedicine counseling. Furthermore, healthy individuals are buying thermometers and pulse oximeters to monitor their temperature and oxygen saturation levels. Such increased sales will drive the home medical equipment market growth during the forecast period.
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The home healthcare equipment market share growth by the portable ventilators segment will be significant during the forecast period. Portable critical care ventilators are gaining popularity as they provide secure and proper ventilation. They are lightweight and slim designed and consist of swappable batteries, which help healthcare staff to move them from one place to another easily. Vendors in the market are coming up with advanced portable critical care ventilators, which can be used while shifting a patient from one hospital unit to another. Therefore, the development of such advanced portable ventilators for different clinical and environmental situations is driving the home healthcare equipment market growth.
This report provides an accurate prediction of the contribution of all the segments to the growth of the home healthcare equipment market size and actionable market insights on the post-COVID-19 impact on each segment.
Home Healthcare Equipment Market Scope |
|
Report Coverage |
Details |
Page number |
120 |
Base year |
2021 |
Forecast period |
2022-2026 |
Growth momentum & CAGR |
Accelerate at a CAGR of 7.73% |
Market growth 2022-2026 |
$3.10 billion |
Market structure |
Fragmented |
YoY growth (%) |
5.3 |
Regional analysis |
North America, Asia, Europe, and Rest of World (ROW) |
Performing market contribution |
North America at 38% |
Key consumer countries |
US, Canada, France, China, and India |
Competitive landscape |
Leading companies, Competitive strategies, Consumer engagement scope |
Key companies profiled |
3M Co., Abbott Laboratories, ARKRAY Inc., B. Braun SE, Baxter International Inc., Becton Dickinson and Co., Boston Scientific Corp., Cardinal Health Inc., General Electric Co., Home Medical Products Inc., Invacare Corp., Johnson and Johnson, Medline Industries Inc., Medtronic Plc, OMRON Corp., ResMed Inc., Rotech Healthcare Inc., Smiths Group Plc, Stryker Corp., and Thermo Fisher Scientific Inc. |
Market dynamics |
Parent market analysis, Market growth inducers and obstacles, Fast-growing and slow-growing segment analysis, COVID-19 impact and recovery analysis and future consumer dynamics, and Market condition analysis for the forecast period. |
Customization purview |
If our report has not included the data that you are looking for, you can reach out to our analysts and get segments customized. |
We can help! Our analysts can customize this report to meet your requirements. Get in touch
1 Executive Summary
2 Market Landscape
3 Market Sizing
4 Five Forces Analysis
5 Market Segmentation by Product
6 Customer Landscape
7 Geographic Landscape
8 Drivers, Challenges, and Trends
9 Vendor Landscape
10 Vendor Analysis
11 Appendix
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