Home Medical Equipment: Technologies and Global Markets
The global market for home medical equipment (HME) is estimated to increase from $43.3 billion in 2022 to $64.8 billion by 2027, at a compound annual growth rate (CAGR) of 8.4% from 2022 through 2027.
- 20 data tables and 32 additional tables
- An up-to-date overview and analysis of the global markets for home medical equipment (HME) within the industry
- Analyses of the global market trends, with historic market revenue (sales data) for 2020 and 2021, estimates for 2022, and projections of compound annual growth rates (CAGRs) through 2027
- Highlights of the current and future market potential of home medical equipment along with a detailed analysis of competitive environment and trends in market growth
- Evaluation and forecast the actual market size for home medical equipment, and corresponding market share analysis based on product type, disease/condition treated, and geographic region
- Assessment of the major driving factors, opportunities and challenges in this innovation driven market, along with technological developments and regulatory implications within the marketplace
- Updated information on ongoing research activities, key technology issues, industry specific challenges, major types of end-user markets, and COVID-19 effects on this market
- Review of recent patents published and granted on home medical equipment during 2018-2021
- Identification of the major stakeholders and analysis of the competitive landscape based on recent developments and segmental revenues
- Descriptive company profiles of the leading global players, including Abbott, B. Braun Melsungen AG, Baxter International, Becton, Dickinson and Co. (BD), F. Hoffmann-La Roche Ltd., Koninklijke Philips N.V., and Medtronic plc
This report is an analytical business tool whose primary purpose is to describe and analyze the dynamics of the global market for home medical equipment. HME is defined as durable equipment—that is, equipment with an expected service life of at least three years that meets the following criteria:
- Can withstand repeated use.
- Is primarily and customarily used to serve a medical purpose.
- Is generally not useful to a person in the absence of an illness or injury.
- Is not implanted inside the patient’s body.
- Is appropriate for use in the home.
- Does not require a trained medical professional to operate.
- Usually requires a doctor’s prescription to buy (excluding most canes, walkers and other elderly and disabled assistive devices).
- Does not generally include drugs and other consumables.
While the report’s coverage is global, it focuses on selected international HME markets including:
- North America.
- Rest of the World.
Frequently Asked Questions (FAQs)
BCC Research Team possesses expertise and experience in life and physical science domains. They specialize in offering valuable business insights, including industry analysis, competitor intelligence, strategic and financial analysis, and opportunity assessment. The team has in-depth knowledge of various sectors, including healthcare, biotechnology, pharmaceuticals, IT, automation, advanced materials, and energy. They are proficient in qualitative and quantitative market intelligence providing clients with actionable insights. With a vast understanding of the competitive landscape, the team can support clients in making data-driven decisions to help them achieve a competitive edge in their respective markets.
|Base year considered||2021|
|Forecast period considered||2022–2027|
|Base year market size||$40.2 billion|
|Market size forecast||$64.8 billion|
|Growth rate||CAGR of 8.4 % from 2022 to 2027|
|Units considered||$ Millions|
|Segments covered||Product Type, Country/Region, Business Segment, Disease/Condition Treated|
|Regions covered||North America, Europe, Asia-Pacific, Latin America ,Middle East and Africa|
|Countries covered||U.S., Canada, Mexico, U.K., Spain, Germany, France, Italy, Australia, South Korea, China, Japan, India, Argentina, Brazil, Saudi Arabia, UAE, South Africa|
|Key Market Drivers||
|Companies studied||3M , ABBOTT , B. BRAUN MELSUNGEN AG , BAXTER INTERNATIONAL INC. , BECTON, DICKINSON AND COMPANY , CARDINAL HEALTH , F. HOFFMANN-LA ROCHE LTD. , FRESENIUS SE & CO. KGAA , GENERAL ELECTRIC CO. , KONINKLIJKE PHILIPS N.V. , MEDTRONIC PLC , OMRON CORP. , RESMED , SUNRISE MEDICAL (U.S.) LLC|
The global market for home medical equipment (HME) is expected to grow from $27.8 billion in 2015 to nearly $44.3 billion by 2020, a compound annual growth rate (CAGR) of 9.7% between 2015 and 2020.
- An overview of the global markets for home medical equipment
- Analyses of global market trends, with data from 2014, 2015, and projections of compound annual growth rates (CAGRs) through 2020
- Major product types and applications, both commercial and developmental
- Analyses of the impact of demographic, technological, regulatory and other factors that will drive future demand in different segments
- Market size and segmentation, including historical data on sales by product type and geographical breakdowns
- Evaluation of the market's dynamics, specifically growth drivers, restraints, and opportunities
- A relevant patent analysis
- Profiles of major players in the home medical equipment industry
The global market for home medical equipment (HME) was worth $17.9 billion in 2010, nearly $19 billion in 2011, and is expected to reach $26.2 billion by 2016, a CAGR of 6.7%.
The global market for home medical equipment (HME) was worth about $16.8 billion in 2009. BCC expects the HME market to grow to $17.7 billion in 2010 and $23.8 billion by 2015, a CAGR of 6.1% over the next 5 years.
The market for therapeutic HME as a group is the fastest growing segment; their share of the total global HME market is expected to increase from about 23% to 28% by 2015. Therapeutic HME was valued at $3.9 billion in 2009 and $4.3 billion in 2010 and will be worth an estimated $6.7 billion by 2015, a compound annual growth rate (CAGR) of 9.3%.
Monitors, sensors, and telemetry devices account for the largest share of the HME market, mainly because of the very large market for home blood glucose testers. This segment was worth $7.7 billion in 2009 and $8 billion in 2010. By 2015, this sector will be worth an estimated $11.3 billion, a compound annual growth rate (CAGR) of 7%.
The global home medical equipment market increased from about $13.9 billion in 2006 to an estimated $14.6 billion in 2007. It should reach $20.4 billion by 2012, a compound annual growth rate (CAGR) of 6.8%.
The United States and Canada together form the largest geographical market for HME, i.e, 34.2% of the global market.
Among the various diseases managed or treated with HME, diabetes accounts for the largest share (i.e., 46.2% in 2006) of the global HME market.