Growth of the U.S. home medcial equipment market is attributed to rise in prevalence of chronic diseases such as diabetes

 Increase in prevalence of chronic diseases, surge in geriatric populations, and technological advancements drive the growth of the U.S. home medical equipment market. Based on distribution channel, the online retailers segment is projected to portray the highest CAGR of 6.3% during the forecast period.

The U.S. Home Medical Equipment Market was accounted for $11.53 billion in 2019, and is expected to reach $20.41 billion by 2027, growing at a CAGR of 5.6% from 2020 to 2027.

Covid-19 scenario:

• Since the Covid-19 outbreak, the medical equipment industry has witnessed positive growth. The rise in self-isolation treatments in home has increased the demand for home medical equipment in the U.S. In addition, the devices such as oxygen delivery equipment, continuous positive airway pressure equipment, oxygen concentrators, ventilators, blood glucose monitors, and blood pressure monitor witness increased demand.
• Increase in technological advancements such as medical beds, stair lifts, and lift chairs for mobility assistance fueled the market growth.

The U.S. home medical equipment market is segmented on the basis of functionality and distribution channel.

Growth of the U.S. home medcial equipment market is attributed to rise in prevalence of chronic diseases such as diabetes, and respiratory diseases across the U.S. Furthermore, technological advancements related to home medical equipment, and increase in geriatric population in U.S. are the other factors that contribute to the growth of market.

Based on distribution channel, the online retailers segment is projected to portray the highest CAGR of 6.3% during the forecast period. However, the retail pharmacies segment held the largest share in 2019, accounting for nearly half of the total market revenue.

Key Findings Of The Study 

• By functionality, the therapeutic equipment segment held largest market share in 2019, and is expected to remain dominant throughout the forecast period.
• On the basis of distribution channel, the retail pharmacies segment held largest market share in 2019, and is expected to remain dominant throughout the forecast period.

The U.S. home medical equipment market includes an in-depth analysis of the prime market players such as Baxter International Inc., Abbott Laboratories, Becton, Dickinson and Company, B. Braun Melsungen AG, Hill-Rom Holdings, Inc., General Electric Company (GE Healthcare), Johnson & Johnson (Depuy Synthes), Invacare Corporation, Medtronic Plc., and Smith & Nephew Plc.

Read More:

https://www.alliedmarketresearch.com/press-release/us-home-medical-equipment-market.html