A detailed segmentation-wise analysis included in the study highlights key segments of the Home Medical Equipment Market, and offers associated market numbers that allude at their growth potential at present as well as in the assessment period. Moving ahead, a regional study of the Home Medical Equipment Market has been offered to give a brief idea of opportune potential of various regional markets for sales of Home Medical Equipment .
Government expenditure on healthcare infrastructure and facilities continues on an upward spiral worldwide, in a bid to offer quality care to the increasing geriatric population and combat the rise of various communicable and non-communicable diseases. Additionally, there has been a remarkable rise in FDA approvals in the recent past. A paradigm shift is being witnessed in the pharmaceutical & healthcare industry, with leading companies putting efforts to combat key concerns, namely, intensifying competition, high cost of hiring skilled professionals, and lower reimbursements in Medicaid and Medicare.
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Notable transformations have been seen in the pharmaceutical & healthcare industry, which include the growing palpability of healthcare technology companies, increasing emphasis on reimbursements in innovative care delivery models, and the rise in virtual care. The legacy practices are undergoing drastic changes, as the focus on saving costs while improving patient outcomes continue to influence the industry dynamics.
The pharmaceutical & healthcare industry is entering a phase of turbulent growth, making its way through myriad challenges that include constantly growing drug prices, changing industry landscape influenced by rapid growth of biosimilar, confined R&D productivity, and healthcare technology disruptions.
Home Medical Equipment Market Report Summary
This Persistence Market Research report on the Home Medical Equipment Market gives a long-term viewpoint of the market during the forecast period. The main objective of the report is to offer readers with a broader perspective of the Home Medical Equipment Market so as to enable them in making factual decisions for triumphant growth of their business. Incisive insights into the Home Medical Equipment Market have been covered, along with a study of the market dynamics that have a notable impact on the market prospects.
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Partnerships and strategic collaborations are some key growth practices among entities in the home medical equipment market.
- Recently, in a new development, Electromed Inc., entered into an agreement with two distributors for home medical equipment – one regional and one national. Leveraging the distribution network of the two, the company has commercial interests for distribution and sales of SmartVest Airway Clearance System in the U.S. In the quest, Electromed has commenced sale of SmartVest system via home medical equipment distributors in targeted geographies.
Using homecare distribution channel, this enables physicians and patients have access to SmartVest in certain parts of the U.S. Further, the channel also broadens exposure of SmartVest brand airway clearance system.
- In another partnership for distribution, Smiths Medical – a leading medical device manufacturer has partnered with Medline Industries for distribution of its Portex acapella positive expiratory pressure therapy device. This distribution partnership will serve to provide improved access to Smiths Medical’s proprietary acapella devices for patients within home care settings.
Key companies operating in the home medical equipment market that have been profiled in this report are F. Hoffmann-La Roche Ltd, GE Healthcare, Abbott, CareFusion Corporation, Hospira Inc., Philips Healthcare, Medline Industry Inc., B. Braun Melsungen AG, AstraZeneca, Baxter, ResMed, Stryker, and Sunrise Medical LLA.
Home Medical Equipment Market – Key Trends
Vast rise in incidence of chronic diseases has spawned practices of home healthcare. Individuals afflicted with chronic diseases such as hypertension and diabetes look for cost-effective medical care not compromising in quality of care and safety. Home medical equipment that are certified by regulatory agencies find wide acceptance for cost factor and convenience. For example, insulin delivery devices and inhalers are some commonly used home medical equipment that saves vast healthcare expenses for individuals.
Technological advances in home medical equipment is another key factor behind their increasing adoption. Due to technological advances coupled with cognizance for technology among individuals, use of home medical equipment is pacing rapidly. Adoption of expensive technologically medical equipment for home use involves one-time cost that offsets cost incurred due to repeated hospital visits.
Home Medical Equipment Market – Regional Outlook
The home medical equipment market is divided into North America, Asia Pacific, Europe, Latin America, and Middle East and Africa. North America, among all, commands leading share in the home medical equipment market. Technological advancements, high disposable income, and awareness among individuals for availability of home medical care are key factors behind staggering demand for home medical equipment in the region.
The report incorporates a scrutinized study of supply & demand patterns, pricing strategies of leading players, and supply chain of the Home Medical Equipment Market. Historical values have been offered for the period, which have been considered as the base for deducing forecast values of the Home Medical Equipment market. In order to make readers understand the volatility of the Home Medical Equipment Market, impact of past and current trends on the market growth has been covered in the report.
The report concludes with a brief assessment of the Home Medical Equipment Market’s competitive landscape, wherein key companies that have a significant contribution to the market growth are identified & profiled in detail. Analysis on recent developments, R&D activities, innovative strategies, and product portfolio, has been offered for each player profiled in the report.
What does the Home Medical Equipment Market research hold for the readers?
- Market segmentation assessment, including qualitative and quantitative research depicting the impact of economic and non-economic factors
- Breakdown of each Home Medical Equipment Market player as per mergers & acquisitions, R&D projects, and product launches
- Leading regions holding significant share in the global Home Medical Equipment Market along with the key countries
- One to one company profile of prominent stakeholders
- Critical study of each Home Medical Equipment manufacturer, such as market share, regional footprint, and product innovations
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