Understand How The Home Healthcare Equipment Market Is Poised To Grow Through 2023-2032
The Business Research Company’s global market reports are now updated with the latest market sizing information for the year 2023 and forecasted to 2032
As per The Business Research Company’s Home Healthcare Equipment Global Market Report 2023, the home healthcare equipment market is expected to show significant growth in the forecast period.
Key insights from the home healthcare equipment market forecast include:
- Market Size
The global home healthcare equipment market is expected to grow from $31.99 billion in 2022 to $34.44 billion in 2023 at a compound annual growth rate (CAGR) of 7.6%. The home healthcare equipment market size is expected to grow to $45.8 billion in 2027 at a CAGR of 7.4%.
- Major Driver
The Ageing Population is projected to drive the growth of the home healthcare equipment market in the future. According to World Population Ageing 2020 Highlights, a US-based intergovernmental organisation, there will be 727 million persons over the age of 65 in the world in September 2020. Furthermore, the percentage of individuals aged 65 and up is expected to climb from 9.3% in 2020 to nearly 16% in 2050 globally. As a result, the growing elderly population is propelling the home healthcare equipment market ahead.
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- Key Trend
Technological developments are a prevalent trend in the home healthcare equipment market. Companies in the home healthcare equipment industry are embracing new technology in order to maintain their market position. For example, CommScope, a network infrastructure provider based in the United States, will deploy the HomeSight system for healthcare and homecare in October 2022. This system combines a TV-connected smart camera with an edge computer, a reliable cloud service for data transfer and device management, environmental sensors, and an LTE connectivity module for households without broadband or as a backup connection. This improved end-user experience increases patient availability, engagement, and utilisation of care services while reducing the need for in-person appointments or visits.
- Largest Region
North America was the largest region in the home health care equipment market in 2022.
- Major Players
Major players in the food diagnostics market are LifeScan Inc., Microlife Corporation, A&D Company Limited, Abbott Laboratories, Roche Healthcare, Panasonic, Yuwell, SANNUO, Osim International, Siemens AG, Insulet Corporation, Phonak, William Demant, Invacare, 3M Company, and ARKRAY Inc.
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Key Home Healthcare Equipment Market Segments
The global home healthcare equipment market 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
The Home Healthcare Equipment Global Market Report 2023 provides an in-depth analysis on the home healthcare equipment market size, trends and drivers, opportunities, strategies, and companies analysis. The countries covered in the home healthcare equipment market report are Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, the UK, and the USA, and the major seven regions are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, the Middle East, and Africa.
View More Related Reports –
Home Health Care And Residential Nursing Care Services Global Market Report 2023
Healthcare Personal Protective Equipment Global Market Report 2023
Healthcare Services Global Market Report 2023
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