Home Medical Equipment Market - Global Opportunity Analysis and Industry Forecast, 2020–2027
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Rise in geriatric population, increase in incidence of various chronic diseases, and advancement in technology in the area of home equipment may play a crucial role in the growth of the market. Furthermore, the adoption of medical equipment at home also reduces the cost factor, which in turn, supplements the growth.
With the rise in aging population, the cases of chronic diseases are expected to increase the demand for mobility assisted devices, which is expected to drive the market growth. However, high cost of the home medical equipment is anticipated to hamper the market growth.
The therapeutic equipment segments dominated the global homecare medical equipment market, and are expected to continue its dominance throughout the forecast period.
According to the report, the global home medical equipment market is estimated to reach $41,259 million by 2026, registering a CAGR of 5.6% from 2019 to 2026.
The major companies profiled in the report include Abbott Laboratories, B Braun Melsungen Ag, Baxter International Incorporated, Becton, Dickinson and Company, General Electric Company, Hill-Rom Holdings Incorporated
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