Home care medical devices are designed to be used outside of a professional health care institution. A user might be a patient, caregiver, or family member who utilizes or assists in the usage of a home care medical device.
Wheelchairs, scooters, lifts, oxygen treatment equipment, accessibility beds, and toilets are all part of the home care medical device market. Until recently, these were generally marketed through distributors. Medical devices are crucial as patients shift to home care services for long-term care or recovery. As a result, multifunctional medical equipment is increasingly being used in homes, typically under unfavourable circumstances. This, in turn, has negative consequences for patient safety as well as the efficient operation of home care medical equipment, particularly those that require special attention or maintenance.
COVID-19 Impact analysis
- The COVID-19 pandemic has had a significant influence on the world economy at different levels, including the healthcare industry. R&D is likely to see a severe drop in sales during the lockdown period due to the shutdown of industrial units, acute shortages in raw materials, and a lack of potential workforce. Production and supply chain activities have faced slight setbacks as a result of the pandemic, as can be determined from the current scenario. However, following COVID-19, the market is expected to gradually recover, presenting excellent sales prospects in many parts of the world during the forecast period.
Top Impacting Factors
There has been an increase in the incidence of chronic obstructive pulmonary disease (COPD) and other chronic diseases and a significant increase in the geriatric population which is projected to propel the growth of the market.
The global home care market is experiencing growth due to technological developments in medical equipment, such as smaller size, ease of access, higher affordability of portable devices, and oxygen-assisted mobility lifestyle.
Medical scooters are fast expanding due to their features of mobility for elderly patients and performance in an outside setting.
Rise in healthcare costs are predicted to boost the expansion of the home medical equipment market as home medical equipment has saved patients from the expenditures of clinical diagnostic procedures or continuous monitoring, allowing this industry to flourish in economically disadvantaged countries.
However, the growth of the market is being hampered by restricted insurance coverage for home healthcare devices and the risk to the safety of patients and home care employees.
Market Trends
New product launches to flourish the market
- In March 2021, 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.
- In August 2019, Smiths Medical – a leading medical device manufacturer 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 Benefits of the Report
- This study presents the analytical depiction of the Homecare Medical Devices along with the current trends and future estimations to determine the imminent investment pockets.
- The report presents information related to key drivers, restraints, and opportunities along with detailed analysis of the Homecare Medical Devices market share.
- The current market is quantitatively analyzed to highlight the Homecare Medical Devices market growth scenario.
- Porter’s five forces analysis illustrates the potency of buyers & suppliers in the market.
- The report provides a detailed Homecare Medical Devices market analysis based on competitive intensity and how the competition will take shape in coming years.
Questions answered in the Homecare Medical Devices Report
- Who are the leading market players active in the Homecare Medical Devices market?
- What current trends will influence the market in the next few years?
- What are the driving factors, restraints, and opportunities in the market?
- What future projections would help in taking further strategic steps?
- What is "Homecare Medical Devices"?
- What is "Homecare Medical Devices" Market prediction in the future?
- Who are the leading global players in the "Homecare Medical Devices" Market?
- What are the current trends and predicted trends?
- What are the key benefits of the "Homecare Medical Devices" Market report?
Homecare Medical Devices Market Report Highlights
| Aspects | Details |
 By Product Type |
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 By End User |
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 By Region |
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 Key Market Players | Drive Medical, Pride, Sunrise Medica, TiLite., Meyra, Nordic / Handicare / Permobil, Teijin, SeQual, O2Concepts Oxlife, Philips Respironics, Invacare, AirSep, Inogen, Graham Field |
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