Home medical equipment market to reach USD 56.45B by 2027 Copy

Allied Market Research has published a study report with the title home medical equipment market size accounted for USD 30.54 billion in 2019, and it is estimated to surpass around USD 56.45 billion by 2027, registering a CAGR of 6.1% from 2020 to 2027. The report provides a detailed analysis of the top investment pockets, top winning strategies, drivers & opportunities, market size & estimations, competitive landscape, and evolving market trends. The market study is a helpful source of information for the frontrunners, new entrants, investors, and shareholders in crafting strategies for the future and heightening their position in the market.

What are the driving factors of home medical equipment market?
Rise in geriatric population, increase in incidence of various chronic diseases, and advancement in technology in the area of home equipment may play a crucial role in the growth of the market. Further, the adoption of medical equipment at home also reduces the cost factor which further assists growth.

By region, North America accounted for the largest market share in the home medical equipment market in 2021 and is expected to retain its dominance throughout the forecast period. This is attributed to the surge in chronic diseases such as asthma, diabetes, high blood pressure, and others in this region. However, Asia-Pacific is anticipated to grow at the fastest rate during the forecast period owing to surge in disposable income, rise in awareness among people toward the benefits of homecare medical devices. Allied Market Research