Home Medical Equipment Market Global Industry Insights, Trends, Outlook, and Opportunity Analysis, 2022-2028

 

Home Medical Equipment Market
Home Medical Equipment Market 

Home medical equipment is a term used to describe affordable medical tools that assist in giving patients safe and effective care while they are at home. This significantly lowers stress associated with the course of treatment, aids in patients' quick recovery, and enhances their quality of life. As it is intended for use in homes and is anticipated to withstand repeated use by patients or non-professionals, home healthcare equipment is also known as durable medical equipment (DME). It typically consists of electrical medical equipment like peak flow metres, digital blood pressure monitors, blood glucose metres, and pulse oximeters. These devices come in hospital and home use models, with the features and capabilities of the models varying.

Some of the major factors propelling growth of the global home medical equipment market are increasing geriatric population, increasing incidence of chronic diseases, and increasing healthcare expenditure. The market is also being driven by rising insured populations as a result of the Affordable Care Act, rising consumer awareness of the convenience and cost-effectiveness of using such products, an increase in patient preference for home-based care, and technological advancements like wearable devices, telehealth, mobile health applications, etc.

North America is the largest geographic region in the market for home medical equipment, followed by Europe. This is primarily attributable to the region's strong healthcare infrastructure, technological development, high level of disposable income, and favourable reimbursement practises. The Obamacare Act's provisions in the United States, which offer health insurance to the nation's 30 million uninsured citizens, foster the development of the home medical equipment market.

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