Home Medical Equipment Market to Witness an Outstanding Growth By 2020

Home medical equipment (HME) refers to the medical devices that help to provide safe,
convenience, cost effective and familiar environment to the patients. This helps in easy recovery of
patients and improves their quality of life. Type of home medical equipment includes therapeutic
equipment, patient monitoring equipment, mobility assist equipment and other patient support
equipment. The home therapeutic equipment market is increasing at a high growth rate due to
increasing incidence of chronic diseases such as respiratory disorder, cancer and kidney failure.
Home therapeutic equipment includes products such as home dialysis products, home respiratory
therapy equipment, home IV equipment and another home therapeutic equipment. Home medical
equipment helps in reducing time spent in hospitals, nursing homes and clinics.
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North America, followed by Europe, has the largest market for home medical equipment due to
technological advancement, high disposable income, better healthcare infrastructure and good
reimbursement policies in the region. Asia is expected to experience high growth rates in the next
few years due to increasing awareness and shortage of professional medical providers in the region.
Increase in ageing population, cost saving advantages, technological advancement, rise in
disposable income of consumers, growing incidence of chronic diseases and rising healthcare
expenditure are some of the key factors driving the growth for global home medical equipment
market. In addition, increasing awareness about the conveniences and cost effectiveness offered by
home medical equipment and shifting of treatment cases from hospitals to home, due to high
hospital expenditure are expected to drive the market for home medical equipment. However, safety
and effectiveness issue are some of the major factors restraining the growth for global home
medical equipment market.
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Growing demographics and economies in the developing countries such as India and China are
expected to result in the growth of home medical equipment market in Asia. In addition,
technological advancement and innovation of some new products are expected to offer good
opportunities in the global home medical equipment market. An increasing number of mergers and
acquisitions and new product launches are some of the latest trends have been observed in the
global home medical equipment market.
Some of the major companies operating in the global home medical equipment market are F.
Hoffmann-La Roche Ltd, B. Braun Melsungen AG, GE Healthcare, AstraZeneca, Abbott, Baxter,
CareFusion Corporation, ResMed, Hospira, Inc., Stryker, Philips Healthcare., Sunrise Medical (US)
LLC and Medline Industry, Inc.
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