Homecare Medical Devices Market by Product and Distribution Channel - Global Industry Analysis and Forecast to 2025

Report Code : HC06149

With an increasing number of consumers investing in physical well-being, personal care or home medical devices are witnessing a huge surge in terms of demand and sales. Reduced service time or shorter hospital stays can considerably reduce the overall expenditure on healthcare by the patients. The traditionally prevalent doctor-patient monitoring system is one of the major cost factors associated with healthcare expenditure adding a huge financial burden on the patients and their families. For instance, after a patient has undergone a surgery, he can be shifted to his home which is a much low cost treatment environment and mobile health devices such as home monitors of different kinds can be used to monitor his health parameters. This can considerably reduce the financial burden on the patients and their families. With the formal healthcare system becoming increasingly stressed, patients are being discharged from healthcare facilities while still needing some amount of care. Home care medical devices prove immensely helpful in such cases where patients can efficiently manage their own health in non-institutional settings.

Medical devices used in home care settings need to be appropriate for the environment in which they are used and for the people using them. These people may be lay or professional caregivers or the recipients themselves. These people may have distinct cognitive, sensory, physical, and emotional characteristics. Environments may vary in terms of accessibility of utilities, amount of available space, humidity and temperature levels and noise and light levels. All these factors have to be considered in order to ensure that the medical devices are effective and safe for the people receiving home care. The most common homecare medical devices are first aid equipment including thermometers, bandages, heating pads and ace bandages. Users of medical devices in homecare settings are a diverse set of people. Some are professional care-givers such as nurses, physicians, occupational therapists and homecare aides. They are typically associated with homecare organizations or may operate as independent providers. Others are lay care-givers who may be family members or friends of the patients receiving care. Some recipients may operate the devices themselves.

Rise in geriatric population, increasing cases of chronic disorders, and increased demand for affordable home care medical devices owing to ever increasing costs of institutional healthcare are set to drive the market growth. With increased life expectancy the risk of suffering from chronic diseases also increases considerably. As elder people require more time to recover from an illness, the homecare alternative is favorable for providing care to these patients. Also, rising consumer expectations about the convenience of medical treatment have resulted in an increased demand for home care medical devices. However, factors such as safety concerns related to patients and limited insurance coverage are expected to hamper the growth of homecare devices market.

Developing medical devices which can be easily and efficiently operated in homecare settings and which ensure patient safety in such environments, holds favorable future prospects. With rising demand for effective yet low cost homecare medical devices by the patients, providers are aggressively investing time and resources in product advancement and development.

Some of the key players operating in this market are Chart Industries, Drive Medical, Inogen, Sunrise Medical (US) LLC, Invacare Corporation, and Philips. These companies focus on product development aided by technological advancements to develop more sophisticated and patient centric homecare products in order to capture a larger share of the market.

Homecare Medical Devices Market Segmentation:

By Product:

  • Oxygen Treatment Equipment
  • Accessibility Beds
  • Wheelchairs
  • Lifts
  • Scooters
  • Others

By Distribution Channel:

  • Online Sales
  • Direct Distribution Channel

By Region:

  • North America
  • U.S.
  • Canada
  • Mexico
  • Europe
  • Germany
  • France
  • UK
  • Italy
  • Spain
  • Rest of Europe
  • Asia-Pacific
  • Japan
  • China
  • Australia
  • India
  • South Korea
  • Rest of Asia Pacific
  • Rest of The World
  • Brazil
  • South Africa
  • Saudi Arabia
  • United Arab Emirates
  • Others


Research Methodology

We use both primary as well as secondary research for our market surveys, estimates and for developing forecast. Our research process commence by analyzing the problem which enable us to design the scope for our research study. Our research process is uniquely designed with enough flexibility to adjust according to changing nature of products and markets, while retaining core element to ensure reliability and accuracy in research findings. We understand both macro and micro-economic factors to evaluate and forecast different market segments.

Data Mining

Data is extensively collected through various secondary sources such as annual reports, investor presentations, SEC filings, and other corporate publications. We also refer trade magazines, technical journals, paid databases such as Factiva and Bloomberg, industry trade journals, scientific journals, and social media data to understand market dynamics and industry trends. Further, we also conduct primary research to understand market drivers, restraints, opportunities, challenges, and competitive scenario to build our analysis.

Data Collection Matrix

Data Collection Matrix

Supply Side

Demand Side

Primary Data Sources

  • Manufacturers
  • Distributors & Wholesalers
  • GPOs
  • Physicians/Specialist
  • Healthcare Providers
  • Consumers

Secondary Data Sources

  • Annual Reports/SEC Filings/ Investor Presentations/ Press Releases
  • Government/Associations Publications
  • Case Studies
  • Reference Customers


Market Modeling and Forecasting

We use epidemiology and capital equipment-based models to forecast market size of different segments at country and regional level.

  • Epidemiology-based Forecasting Model: This method uses epidemiology data gathered through various publications and from physicians to estimate population of patients, flow of treatment of individual disease and therapies. The data collected through this method includes statics on incidence of disease, population suffering from disease, and treatment population. This method is used to understand:
  • Number of patients for particular device or medical procedure and
  • Repeated use of particular device depending on health and condition of patient
  • Capital-based Forecasting Model: This method of forecasting is based on number of replacements, installed-based and new sales of capital equipment used in various healthcare and diagnostic centers. These three parameters are calculated and forecast is developed. Installation base is calculated as average number of units per facility; while sales for particular year is calculated from number of new and replace units. Secondary data is collected through various supply chain intermediaries and opinion leaders to arrive at installation and sales rate. These techniques help our analysts in validating market and developed market estimates and forecast.

We do forecast on basis of several parameters such as market drivers, market opportunities, industry trends government regulations, raw materials supply and trade dynamics to ensure relevance of forecast with market scenario. With increasing need to granulized information, we used bottom-up methodology for forecasting where we evaluate each regional segment differently and combined all forecast to develop final market forecast.

Data Validation

We believe primary research is a very important tool in analyzing and forecasting different markets. In order to make sure accuracy of our findings, our team conducts primary interviews at every stage of research to gain deep insights into current business environment and future trends and key developments in market. This includes use of various methods such as telephonic interviews, focus groups, face to face interviews and questionnaires to validate our research from all aspects. We validate our data through primary research from key industry leaders such as CEO, product managers, marketing managers, suppliers, distributors, and consumers are frequently interviewed. These interviews provide valuable insights which help us to have better market understanding besides validating our estimates and forecast.

Data Triangulation

Industry Analysis

Qualitative Data

Quantitative Data (2017-2025)

  • Market Dynamics (Drivers, Restraints, and Challenges)
  • Industry Trend Analysis
  • Market Opportunities
  • Government Policies and Regulations, Patent Analysis, and Reimbursement Policies
  • Porter’s Five Forces and PESTLE Analysis
  • Key Developments and Competitive Landscape
  • Market Assessment and Forecast
  • Market Assessment and Forecast, By Product
  • Market Assessment and Forecast, By Technology
  • Market Assessment and Forecast, By Application
  • Market Assessment and Forecast, By End User
  • Market Assessment and Forecast, By Region/Country

Licesnces Type

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