Home Therapeutic Equipment Market Volume Forecast And Value Chain Analysis 2017-2024

Published On:July 4, 2017, 9:36 am

Home Therapeutic EquipmentsHome Therapeutic Equipments are also known as durable medical equipments (DME) is appropriate for the domestic use. These home therapeutic equipments help to provide cost effective, safe, convenient and familiar atmosphere to the patients. Also, this helps in the easy recuperation of patients and amends their quality of life. Home therapeutic equipment includes products such as home respiratory therapy equipment, home dialysis products, home IV equipment and other home therapeutic equipment. Home medical equipment assists in reducing time spent in clinics, hospitals, and nursing homes. For most home medical equipment, such as oxygen, a patient must have a doctor's prescription for the equipment needed.

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The home therapeutic equipments are primarily used to provide a medical function; are reusable and can stand repeated use. They are not useful to a person in the absence of injury, disability, or illness. Some examples of home medical equipments are Air purifier, artificial limb, Ventilator, Hospital bed, Oxygen cylinder, Prosthetic device, Nebulizer, Diabetic Shoes, Infusion pump, Feeding tube, heating pad, CPAP machine, Glucose meter, Catheter, Drug test, Traction splint,  Oxygen concentrator, Walker and Wheelchair etc.

In 2015, the home therapeutic equipments market was evaluated at USD 227.5 billion. It is expected to reach USD 352.6 billion by 2022. The compound annual growth rate is expected to be 9% during the forecast period of 2017 to 2022. Globally, the rising population and increasing rate of various diseases have led to significant rise in healthcare spending, also increasing the incidence of chronic diseases such as respiratory disorder, cancer, and kidney failure is driving the home therapeutic equipments market. Some other factors which are propelling the global market further are; increase in geriatric population, cost reduction advantages, technological advancement, and rise in disposable earnings of consumers.

 In addition, increasing awareness about the conveniences and convenience in handling and usage extended by home therapeutic equipment and shifting of treatment cases from hospitals to home, due to high hospital expenditure; is expected to boost the growth of the global market industry. However, safety and efficiency issue are some of the major factors limiting the growth of global home therapeutic equipments market.

The key market players for the Home Therapeutic Equipments Market are Medtronics, Smiths Medical, GE Healthcare, Becton Dickinson Medical (S) Pte. Ltd., Fisher and Paykel Healthcare, Drägerwerk AG & Co. KGaA, Fresenius Medical Care, B. Braun Melsungen AG, Chart Industries, Inc., Johnson & Johnson, Baxter International, Phillips Respironics, Kindred Healthcare,  ResMed, Abbott Laboratories and Invacare Corporation. On the basis of product, the market industry is classified into; Home Respiratory Therapy Equipment, Home Dialysis Equipment, Home IV Equipment and Other. By application, the market industry is split into; For Children and For Adults. Geographically, the market is segmented into regions which are Asia-Pacific, North America, Latin America, Europe, Africa, Southeast Asia, Middle East and rest of the world.

 

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