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Market Research Report

Global Home Healthcare Equipment Market Outlook 2024, Global Opportunity and Demand Analysis, Market Forecast, 2016-2024

Published On : 2017-08-10 Report Page : 350 Category:Healthcare

Global Home Healthcare Equipment Market Outlook

Market Overview

The global home healthcare devices market is poised for rapid growth due to rise in aging population, growing demand for home healthcare systems due to the increasing healthcare costs, advancement in technology and government initiatives. Major driving factor behind the positive growth of home healthcare market is increasing geriatric population, health awareness among the population and increase in diagnosis. Geriatric population is prone to chronic diseases such as diabetes which in turn, is expected to fuel the growth of home healthcare device market. While on the other hand, home healthcare equipment market is facing challenges like providing services for chronic illness, changing reimbursement policies and limited insurance coverage. In global home healthcare equipment market, services segment is the largest, providing services like rehabilitation, tele-health and telemedicine, respiratory therapy, infusion therapy and unskilled home healthcare services.

Market Segmentation:

  • Based on Device
    • Diagnostics and Monitoring Home Healthcare Devices
      • Blood Pressure Monitors
      • Blood Glucose Monitors
      • Pulse Oximeters
      • Peak Flow Meters
      • Heart Rate Monitors
      • Fetal Monitoring Devices
      • HIV Test Kits
      • Sleep Apnea Monitors
      • Coagulation Monitors
      • Ovulation and Pregnancy Test Kits
      • Holter and Event Monitors
      • Cholesterol Monitoring Devices
      • Colon Cancer Test Kits
      • Home Hemoglobin A1c Test Kits
      • Drug and Alcohol Test Kits
      • ECG/EKG Devices
      • EEG Devices
      • Temperature Monitors
      • Hearing Aids
      • Pedometers
    • Therapeutics Home Healthcare Devices
      • Oxygen Delivery Systems
      • Nebulizers
      • Ventilators
      • Sleep Apnea Therapeutic Devices
      • Wound Care Products
      • IV Equipment
      • Dialysis Equipment
      • Insulin Delivery Devices
      • Inhalers
      • Other Therapeutic Products (Ostomy Devices, Automated External Defibrillators, and External Stimulation Devices)
    • Home Mobility Assist Devices
      • Canes
      • Crutches
      • Mobility Scooters
      • Walkers and Rollators
      • Wheelchairs
    • Medical Supplies
  • Based on Distribution Channel
    • Offline Channel
    • Online Sales
  • Based on End User
    • Hospitals/Clinics/Diagnostic Lab
    • Research and Development Centre
    • Home Care Settings
  • Based on Region
    • North America (U.S., Canada) {Market Share (%), Market Size (USD Million), Product Sales (Units)}
    • Asia Pacific (China, Japan, India, Singapore, South Korea, Australia, New Zealand and ROAP) {Market Share (%), Market Size (USD Million), Product Sales (Units)}
    •  Europe (The UK, Germany, France, Italy, Spain, Hungary, Russia, Poland, Sweden and ROE) {Market Share (%), Market Size (USD Million), Product Sales (Units)}
    • Latin America (Brazil, Mexico and ROLA) {Market Share (%), Market Size (USD Million), Product Sales (Units)}
    • Middle East and Africa (GCC, North-Africa, South Africa and ROMEA) {Market Share (%), Market Size (USD Million), Product Sales (Units)}
    • Rest of the World {Market Share (%), Market Size (USD Million), Product Sales (Units)}

Technological Advancements:

  • Advancement in technology may introduce us to improved and accurate pacemakers, cochlear implants, and medicine delivery systems. Miniaturization of various components of devices, including microprocessors and nanotechnology, will make possible advances to many types of medical devices used inside and outside formal health care settings.
  • Some of the devices envisaged will be embedded in common household devices, such as a biosensing chip in a toothbrush that will check blood sugar and bacteria levels
  • Smart bandages made of fiber that will detect bacteria or a virus in a wound and then refer appropriate treatment
  • Smart T-shirts that will monitor the wearer’s vital signs in real time
  • Heads-up displays for glasses that use pattern recognition software to help people remember human faces, inanimate objects, or other data.
  • Novel handheld devices may provide new opportunities for home health care, such as skin surface mapping
  • An imaging technology that will track changes in moles to detect malignancies Biosensors that will perform as portable laboratories
  • Input devices such as eye blinks (electromyography) or brain activity (electroencephalography) that will facilitate hands-free device control, which will be especially useful for people with limited use of their hands (e.g., people with paralysis or arthritis).

Market Size and Forecast (2016-2024)

The global home health care market is expected to generate the revenue of USD 500 billion by 2024. Global home health care equipment market is around 12-15% of total home health care market, which is anticipated to reach USD 50 billion by the end of 2024, growing at a CAGR of 7% during the forecast period and rest of the share is generated by home healthcare services. In 2015, U.S. and Canada were the largest geographies which held 35% share in global home health care equipment market followed by Europe and APAC, being the emerging market. Diabetes among other diseases accounts for largest share (45% in 2006) in home healthcare equipment market.

Based on product, diagnostic and monitoring devices are expected to account for the largest revenue share in home healthcare equipment market by 2024, due to the significance of preventive medicine and the potential to decrease health related complications and portability of devices with accuracy. However, fastest growing segment is therapeutics devices comprises of insulin delivery devices, nebulizers, ventilators and CPAP devices to treat sleep apnea, IV equipment and dialysis equipment, which is expected to grow at a CAGR of 10-12% from 2015 to 2024.

Growth Drivers and Challenges:

The demographic and attitudinal shifts in the health care equipment market are reinforced by such trends as the rising cost of institutional care, awareness among the population, and a growing receptivity to home health care among physicians and private and public insurance companies. To meet the challenges of rising healthcare cost, increase in aging population is impacting healthcare system, resulting in hospital consolidations, decrease in inpatient time and providing reservation for critical patients with acute care hospital beds in the case of life threatening diseases. Due to the mentioned factors and rise in role of medicare services, has given rise to home healthcare device market.  Demographics are one of the major contributing factors towards the greater demand of home healthcare devices and services. According to the World Health Organization (WHO), the number of people who are 65 years and older is expected to increase to 2 billion by 2050 from 605 million in 2000.

Factors restraining the growth of this market include reimbursement availability, limited insurance coverage and risks to personal safety of home care workers. Due to direct sales through the Internet has brought the distribution channel consolidation, leading to a decrease in the number of distributers in the global homecare equipment market.

Key Players:

  • Merck & Co.
    • Synopsis
    • Business Strategy
    • Product Portfolio
    • SWOT Analysis
  • 3M Health Care
  • Siemens
  • Bayer AG
  • Abbott Laboratories
  • Cardinal Health, Inc.
  • GE Healthcare
  • Invacare Corporation
  • F. Hoffmann-La Roche Ltd.
  • Phillips Healthcare
  • Medtronic, Inc.
  • Omron Healthcare, Inc.

Scope Background

Market Synopsis

Market Segmentation

The global home healthcare equipment market is segmented as follows:

  • On the basis of devices (Market Size, Demand Analysis and Growth Analysis)
  • On the basis of distribution channel (Market Size, Demand Analysis and Growth Analysis)
  • On the basis of end user (Market Size, Demand Analysis and Growth Analysis)

Global home healthcare equipment market report covered insights of below mentioned regions:

  • North America (U.S., Canada) {Market Size, Growth Analysis and Opportunity Analysis}
  • Latin America (Argentina, Mexico, Brazil and Rest of Latin America) {Market Size, Growth Analysis and Opportunity Analysis}
  • Europe (Germany, Italy, Spain, France, The U.K., Netherlands, Sweden, Hungary, Russia, Poland, Rest of Europe) {Market Size, Growth Analysis and Opportunity Analysis}
  • Asia-Pacific (China, India, Singapore, Japan, Australia, New Zealand, South Korea and Rest of Asia Pacific) {Market Size, Growth Analysis and Opportunity Analysis}
  • Middle East and North Africa (MENA) {Market Size, Growth Analysis and Opportunity Analysis}
  • Rest of World  {Market Size, Growth Analysis and Opportunity Analysis}

Market Dynamics: Growth Drivers, Restraints and Opportunities

    • Risk Factors
    • Regional Variations
    • Recent Trends and Developments

Key Market Players

  • Synopsis
  • Business Strategy
  • Product Portfolio
  • SWOT Analysis

Porter’s Five Force Model

Market Landscape: Competition and Beyond

Market outlook for business players and entry level players to ascertain their business in dynamic ecosystem

Expert Analysis

Concluding Remarks


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