Global Home Healthcare Device Market (2016-2021) : Research Nester

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Extensive insights into the Growth of Home Healthcare Device Market amidst COVID-19

Before we witness the stabilization of economic growth in Europe and North America, Asia Pacific is estimated to bounce back progressively with countries such as China, India, South Korea and Japan witnessing more opportunities to recover from the losses sustained during COVID-19.

Being the biggest market in Eastern Europe, Russia is estimated to take the lowest hit, offering a sigh of relief to the businesses operating in the country. Whereas, GCC is estimated to observe low investments due to the sliding prices of crude oil.

We evaluate the strategies and commitment of the Giant Players in the market towards creating products and services that customers value and rely on.

In an attempt to control and eliminate the surge of coronavirus cases and meet the demand for required medical devices along with providing efficient medical services, there is a drastic shift of investments from authoritative bodies towards the healthcare sector. Where the aftermath of this pandemic may take years to be measured, Research Nester estimates notable expansion of e-health, gaming, and media and entertainment industries till the whole situation is contained and the plan of action for the recovery process is determined. There is an estimated probability of the growth in businesses going back a year if the condition is controlled in the next 2-3 months. Request Insights

Home Healthcare Device Market Overview

Home healthcare device market is one of the growing markets across the globe. Rising aging population worldwide and increasing chronic diseases have forced end-users to opt for home-based diagnostic devices. The innovation and continuous fall in average price of home healthcare devices have bolster the demand in recent years. Further, government support and penetration of healthcare insurance have allowed people to enjoy the home-based services.

Due to several governmental initiatives, PPP (public private partnership) model, collaboration between big hospitals and small care clinics etc. a boost in the demand for home healthcare devices is expected to be seen in near future.

Market size & forecast

Global home healthcare device market is expected to grow at a CAGR of >7% during the forecast period of 2016-2021 and expected to cross USD 330 Billion by 2021. North America at present has the largest share in home healthcare device market and expected to continue its dominance in near future due to rising number of chronic disease and introduction of Affordable Care Act 2010. Following the same trend, Asia-pacific region is forecasted to be the second largest contributor to global home healthcare device market due to the advancement of healthcare technology in developing nations like India & China. India which has availability of skilled man power coupled with developed IT sectors & increased penetration of medical insurance etc. would further would bid to boost the home healthcare market in the region in near future. Moving on in the same direction, Indian medical technology sector has funded USD 5.5 Billion recently out of which 7-8% has been spent on the healthcare industries for the new researches & advanced healthcare facilities. CLICK TO DOWNLOAD FREE SAMPLE REPORT

Market Segmentation

By Device Type
- Diagnostic & Monitoring Devices
  - Blood Sugar Glucose Monitor
  - Blood pressure monitor
  - Heart rate monitor
  - Body temperature monitor
  - Sleep apnea monitor
  - Co-agulation monitor
  - Pregnancy Test kits
  - Pulse oximeter
  - Pedometer
- Mobility Assist Devices
  - Wheelchair
  - Cranes & Crutches
  - Other devices
- Therapeutic devices
  - Insulin delivery Meter
  - Nebulizer
  - Home Ventilator CPAP Device
  - Home IV equipment
  - Home analysis equipment
- Medical Home Healthcare supplies
  - In-contingence products
  - Feeding Pumps
  - Feeding Tubes
  - Syringes
By Services
- Rehabilitation services
- Tele-health & Tele-medicine services
- Infusion Therapy
- Respiratory Services

By Region

Home Healthcare Device Market is further classified on the basis of region as follows:

North America (United States, Canada), Market size, Y-O-Y growth Market size, Y-O-Y growth & Opportunity Analysis, Future forecast & Opportunity Analysis
Latin America (Brazil, Mexico, Argentina, Rest of LATAM), Market size, Y-O-Y growth, Future forecast & Opportunity Analysis
Europe (U.K., Germany, France, Italy, Spain, Hungary, BENELUX (Belgium, Netherlands, Luxembourg), NORDIC (Norway, Denmark, Sweden, Finland), Poland, Russia, Rest of Europe), Market size, Y-O-Y growth, Future forecast & Opportunity Analysis
Asia-Pacific (China, India, Japan, South Korea, Malaysia, Indonesia, Taiwan, Hong Kong, Australia, New Zealand, Rest of Asia-Pacific), Market size, Y-O-Y growth, Future forecast & Opportunity Analysis
Middle East and Africa (Israel, GCC (Saudi Arabia, UAE, Bahrain, Kuwait, Qatar, Oman), North Africa, South Africa, Rest of Middle East and Africa), Market size, Y-O-Y growth, Future forecast & Opportunity Analysis

Growth Drivers and challenges

Growth in aging population worldwide and up-surged communicable diseases, steep rise in chronic diseases due to population density are projected to fuel the demand of home healthcare device across the globe. Further, advancement in healthcare technologies to create better service, increased in government spending on healthcare services, initiatives taken by international health organizations like WHO are expected to help the global home healthcare market to reach new s in near future.

However, factors like expensive devices, missing proper medical care and infrastructure in developing and under developed countries, limited government budget for healthcare services are expected to dampen the demand for home healthcare market in coming years. Further, a communication gap and misalignment between beneficiaries and buyers is one of the key factors impacting negatively the use of home healthcare devices at present.

Key Players

Zimmer Biomet
Siemens Healthineers
Philips Healthcare
Stryker
Medtronic
Drive Medical
Permobil
AirSep
Handicare International
TiLite

Scope and Context

Overview of the Parent Market

Analyst View

Market Size and Growth

North America (U.S., Canada) Market Size & Y-O-Y % Growth
Latin America (Mexico, Brazil, Rest of Latin America) Market Size & Y-O-Y % Growth
Western and Eastern Europe (Germany, Italy, Spain, France, U.K, Benelux, Hungary, Rest Of Western Europe, Russia Poland, Rest of Eastern Europe) Market Size & Y-O-Y % Growth
Asia-Pacific (China, India, Singapore, Japan, Australia & New Zealand & Rest of Asia) Market Size & Y-O-Y % Growth
Rest of World Market Size & Y-O-Y % Growth

Segmentation

By Devices
By Services
By End-user

Market Dynamics

Supply & Demand Risk

Competitive Landscape

Porter’s Five Force Model

Geographical Economic Activity

Key Players (respective SWOT Analysis) and their Strategies and Product Portfolio

Recent Trends and Developments

Industry Growth Drivers and Challenges

Key Information for Players to establish themselves in current dynamic environment

Recent News & Developments

September 6, 2016: The Indian government announced the project of setting-up a medical devices park to cut down the manufacturing cost by 30% so as to make the healthcare devices affordable worldwide and make the sector of healthcare devices competitive.

March 6, 2016: Siemens Healthcare designed a Somatom Drive, a tomography device that enables the entire imaging and tomography and diagnosis of breast cancer. This innovation in healthcare device leads the industry globally in terms of technology advancement.

August 17 2016: The EU commission grants USD 7, 87,094 to Innokas Medical to develop the cost efficient home healthcare device for the population suffering from arterial diseases globally. This funding will further help the healthcare industry to design & manufacturing of arterial healthcare devices.