PUBLISHER: The Business Research Company | PRODUCT CODE: 1760553
PUBLISHER: The Business Research Company | PRODUCT CODE: 1760553
Home medical equipment (HME) devices are medical products designed for use by patients in their homes under the supervision of healthcare professionals or personal care. These devices help patients manage medical conditions, maintain health, and support recovery, reducing the need for frequent hospital visits. HME devices are specifically designed for safe and effective use in a home environment, and they are often prescribed by healthcare providers. Their use enables greater patient independence and comfort while minimizing prolonged hospital stays.
The main product categories in the home medical equipment (HME) devices market include oxygen equipment, mobility assistive devices, respiratory therapy equipment, and other related devices. Oxygen equipment refers to medical devices that deliver supplemental oxygen to patients who have difficulty obtaining sufficient oxygen through normal breathing. The applications of these devices include home healthcare, long-term care, and other settings, with distribution through channels such as online retail, hospital pharmacies, retail pharmacies, and more. The end-users of these devices range from adults to pediatric and geriatric patients.
The home medical equipment devices market research report is one of a series of new reports from The Business Research Company that provides home medical equipment devices market statistics, including home medical equipment devices industry global market size, regional shares, competitors with a home medical equipment devices market share, detailed home medical equipment devices market segments, market trends and opportunities, and any further data you may need to thrive in the home medical equipment devices industry. This home medical equipment devices market research report delivers a complete perspective of everything you need, with an in-depth analysis of the current and future scenario of the industry.
The home medical equipment (HME) devices market size has grown strongly in recent years. It will grow from $38.81 billion in 2024 to $40.20 billion in 2025 at a compound annual growth rate (CAGR) of 9.2%. The growth during the historic period can be attributed to the increasing number of home-based care programs, growing awareness of personal health monitoring, a rise in global healthcare expenditure, greater support from government initiatives, and the increasing adoption of portable medical devices.
The home medical equipment (HME) devices market size is expected to see strong growth in the next few years. It will grow to $56.79 billion in 2029 at a compound annual growth rate (CAGR) of 9.0%. The growth during the forecast period can be attributed to the increasing integration of telehealth services, rising demand for remote patient monitoring, advancements in wearable medical technology, a growing focus on reducing hospital readmissions, and increasing investment in home healthcare infrastructure. Key trends during this period include advancements in the wireless connectivity of medical devices, the use of advanced data analytics for patient monitoring, the development of user-friendly home care devices, innovations in compact and portable equipment, and advancements in AI-powered diagnostic tools.
The shift towards remote patient monitoring is expected to drive the future growth of the home medical equipment devices market. Remote Patient Monitoring (RPM) involves using technology to observe a patient's health and medical conditions remotely, typically outside traditional healthcare settings. This includes the use of devices such as wearable sensors, mobile apps, and other electronic tools that collect health data (such as heart rate, blood pressure, and glucose levels) and send it to healthcare providers. The adoption of RPM is largely driven by advancements in wearable technology, which allow for continuous, real-time health data collection. This enhances the management of chronic conditions and improves patient care outside of clinical environments. Home medical equipment devices support remote patient monitoring by enabling patients to track their health at home. This allows healthcare providers to monitor patient progress, adjust treatments, and intervene as needed without requiring frequent in-person visits. For example, in April 2024, Insurance Thought Leadership Inc., a US-based company focused on insurance and risk management, reported that telehealth usage among Medicare participants surpassed 53 million, with 91% of health systems implementing telehealth programs. Consequently, the increasing use of remote patient monitoring is boosting the growth of the home medical equipment devices market.
Innovations in wearable health monitoring devices are transforming continuous health tracking and glucose monitoring. Leading companies in the home medical equipment devices market are developing advanced products, such as wearable health monitoring devices, to provide precise, real-time health tracking and enhance patient outcomes. These wearable devices continuously track vital health parameters such as heart rate, blood pressure, and glucose levels. For example, in September 2024, Abbott Laboratories, a US-based healthcare company, introduced Lingo, the first over-the-counter continuous glucose monitoring (CGM) system in the United States. Lingo is designed for adults not using insulin therapy, allowing users to monitor glucose levels through a small adhesive sensor that connects to a smartphone app. Lingo aims to offer accessible glucose monitoring for health-conscious individuals and those managing prediabetes.
In October 2023, Henry Schein Inc., a US-based healthcare products and services provider, acquired a majority stake in Shield Healthcare Inc. for an undisclosed amount. This acquisition strengthens Henry Schein's position in the home medical equipment (HME) market by expanding its product offerings and integrating Shield Healthcare's direct-to-patient delivery model, which improves access to essential homecare supplies. Shield Healthcare is a US-based provider of home healthcare supplies and medical products, specializing in home medical equipment devices and services.
Major players in the home medical equipment (hme) devices market are Cardinal Health Inc., Abbott Laboratories, Medtronic plc, 3M Health Care, Medline Industries Inc., Fresenius Medical Care AG & Co. KGaA, Becton Dickinson and Company, Koninklijke Philips N.V., Stryker Corporation, GE HealthCare, Baxter International Inc., Smith & Nephew, ResMed Inc., Fisher and Paykel Healthcare Corporation Limited, Rotech Healthcare Inc., Invacare Corporation, Sunrise Medical LLC, Hollister Incorporated, B. Braun SE, Omron Healthcare Inc., Nidek Medical Products Inc.
North America was the largest region in the home medical equipment (HME) devices market in 2024. Asia-Pacific is expected to be the fastest-growing region in the forecast period. The regions covered in home medical equipment (HME) devices report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East and Africa.
The countries covered in the home medical equipment (HME) devices market report are Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK, USA, Canada, Italy, Spain.
The home medical equipment (HME) devices market consists of sales of powered mobility aids, aerosol therapy systems, non-invasive monitoring systems, and stationary oxygen therapy units. Values in this market are 'factory gate' values, that is, the value of goods sold by the manufacturers or creators of the goods, whether to other entities (including downstream manufacturers, wholesalers, distributors, and retailers) or directly to end customers. The value of goods in this market includes related services sold by the creators of the goods.
The market value is defined as the revenues that enterprises gain from the sale of goods and/or services within the specified market and geography through sales, grants, or donations in terms of the currency (in USD unless otherwise specified).
The revenues for a specified geography are consumption values and are revenues generated by organizations in the specified geography within the market, irrespective of where they are produced. It does not include revenues from resales along the supply chain, either further along the supply chain or as part of other products.
Home Medical Equipment (HME) Devices Global Market Report 2025 from The Business Research Company provides strategists, marketers and senior management with the critical information they need to assess the market.
This report focuses on home medical equipment (hme) devices market which is experiencing strong growth. The report gives a guide to the trends which will be shaping the market over the next ten years and beyond.
Where is the largest and fastest growing market for home medical equipment (hme) devices ? How does the market relate to the overall economy, demography and other similar markets? What forces will shape the market going forward? The home medical equipment (hme) devices market global report from the Business Research Company answers all these questions and many more.
The report covers market characteristics, size and growth, segmentation, regional and country breakdowns, competitive landscape, market shares, trends and strategies for this market. It traces the market's historic and forecast market growth by geography.
The forecasts are made after considering the major factors currently impacting the market. These include the Russia-Ukraine war, rising inflation, higher interest rates, and the legacy of the COVID-19 pandemic.