Home Medical Equipment (HME) Devices Industry Insights 2025 – Market Forecast for Executives and Planners
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How Has the Home Medical Equipment (HME) Devices Market Size Changed, over the years?
The market size for home medical equipment (HME) devices has witnessed a robust growth in the past few years. The market is forecasted to expand from $38.81 billion in 2024 to $40.20 billion in 2025, with a compound annual growth rate (CAGR) of 9.2%. The historic growth is primarily due to the increase in home care programs, greater consciousness about personal health monitoring, a global uptick in health care spending, encouraging government initiatives and the greater integration of portable medical devices.
How Much Will the Home Medical Equipment (HME) Devices Market Be Worth in 2029?
The market size for home medical equipment (HME) devices is predicted to experience a pronounced expansion in the coming years, surging to $56.79 billion in 2029 with a compound annual growth rate (CAGR) of 9.0%. This anticipated growth can be attributed to several factors: the evolving integration of telehealth services, heightened demand for monitoring patients remotely, improvements in wearable medical technology, mounting focus on lowering hospital readmission rates, and escalated investment in home healthcare infrastructure. Key trends projected for the forecast period include the progression in wireless medical device connectivity, enhanced data analytics for patient monitoring, the creation of easy-to-use home care devices, innovative compact and portable equipment development, and advances in AI-driven diagnostic instruments.
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Which is the Largest Company in the Home Medical Equipment (HME) Devices Market?
Major companies operating in the home medical equipment (HME) devices market are Cardinal Health Inc., Abbott Laboratories, Medtronic plc, 3M Health Care, Medline Industries Inc., Fresenius Medical Care AG & Co. KGaA, Becton Dickinson and Company, Koninklijke Philips N.V., Stryker Corporation, GE HealthCare, Baxter International Inc., Smith & Nephew, ResMed Inc., Fisher and Paykel Healthcare Corporation Limited, Rotech Healthcare Inc., Invacare Corporation, Sunrise Medical LLC, Hollister Incorporated, B. Braun SE, Omron Healthcare Inc., Nidek Medical Products Inc.
What Are the Main Market Drivers in the Home Medical Equipment (HME) Devices Industry?
The anticipated expansion of the home medical equipment devices market is thought to be spurred by the ongoing move towards remote patient monitoring. Remote Patient Monitoring, or RPM, is a method that utilizes technology to oversee a patient’s health and medical conditions distantly, usually outside conventional healthcare facilities. It employs devices like wearable sensors, mobile applications, or other electronic tools to gather important health data – such as heart rate, blood pressure, glucose levels, and so on- and forward it to healthcare providers. Advancements in wearable technology, enabling incessant, real-time health information collection, playing a critical role in effective chronic condition management and augmenting patient care outside normal clinical environments, are driving the move towards RPM. Devices for home medical equipment assist remote patient monitoring by letting patients keep track of their health conditions while at home. It allows doctors to supervise patient progress, modify treatments, and step in when required, all without needing frequent in-person consultations. For example, in April 2024, as Insurance Thought Leadership Inc., a firm based in the US providing insurance and risk management information, stated, telehealth usage saw a massive increase to over 53 million medicare recipients, with 91% of health systems implementing telehealth programs. Thus, the move towards remote patient monitoring is fuelling the expansion of the home medical equipment devices market.
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How Is the Home Medical Equipment (HME) Devices Market Segments Structured?
The home medical equipment (HME) devices market covered in this report is segmented –
1) By Product Type: Oxygen Equipment, Mobility Assistive Devices, Respiratory Therapy Equipment, Other Products
2) By Application: Home Healthcare, Long-term Care, Other Applications
3) By Distribution Channel: Online Retail, Hospital Pharmacies, Retail Pharmacies, Other Distribution Channels
4) By End-User: Adults, Pediatric, Geriatric
Subsegments:
1) Oxygen Equipment: Oxygen Concentrators, Oxygen Cylinders, Liquid Oxygen Systems, Oxygen Masks, Oxygen Regulators
2) Mobility Assistive Devices: Wheelchairs, Walking Aids, Scooters, Lift Chairs, Stair Lifts
3) Respiratory Therapy Equipment: Ventilators, CPAP Machines, BiPAP Machines, Nebulizers, Inhalers
4) Other Products: Home Dialysis Equipment, Blood Pressure Monitors, Temperature Monitors, Pulse Oximeters, Patient Lifting Equipment
What Strategic Trends Are Transforming the Home Medical Equipment (HME) Devices Market?
Prominent entities in the home medical equipment devices market are prioritizing the creation of cutting-edge products such as wearable health tracking devices for enhanced real-time patient health monitoring and boosting patient results. These wearable health tracking devices are innovative technologies programmed to continuously monitor critical health indicators like heart rate, blood pressure, and glucose levels. For example, Abbott Laboratories, a healthcare firm based in America, introduced Lingo, the first continuous glucose monitoring (CGM) system available over the counter, in the United States in September 2024. Lingo, developed for adults not using insulin therapy, empowers users to track their glucose levels via a diminutive adhesive sensor that pairs with a smartphone app. Lingo’s goal is to offer convenient glucose monitoring for health-aware individuals and those managing prediabetes.
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Which Global Regions Offer the Highest Growth in the Home Medical Equipment (HME) Devices Market?
North America was the largest region in the home medical equipment (HME) devices market in 2024. Asia-Pacific is expected to be the fastest-growing region in the forecast period. The regions covered in the home medical equipment (HME) devices market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa.
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This Report Delivers Insight On:
1. How big is the home medical equipment (hme) devices market, and how is it changing globally?
2. Who are the major companies in the home medical equipment (hme) devices market, and how are they performing?
3. What are the key opportunities and risks in the home medical equipment (hme) devices market right now?
4. Which products or customer segments are growing the most in the home medical equipment (hme) devices market?
5. What factors are helping or slowing down the growth of the home medical equipment (hme) devices market?
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