- Home
- About Us
- Industry
- Services
- Reading
- Contact Us
Home Care Therapeutic Devices Market: Current Analysis and Forecast (2022-2030)
Emphasis on Product (Oxygen Transfer Equipment, Therapy Mat, Nebulizers, Others); Application (Cardiovascular Disease, Insomnia, Diabetes, Asthma, Others); End-Users (Online, Offline) and Region/Country
The Home care therapeutic devices market was valued at USD xx million in 2022 & is expected to grow at a CAGR of 8% from 2023-2030 The home care therapeutic devices market refers to the industry that focuses on the development, manufacturing, and sale of medical devices designed for use in home care settings to provide therapeutic benefits. These devices are specifically designed to enable individuals to receive necessary medical treatments and therapies in the comfort of their own homes, rather than in a hospital or clinical setting. The growing demand for home care therapeutic devices can be attributed to the increase in the aging population around the globe. For instance, according to WHO, by 2030, 1 in 6 people in the world will be aged 60 years or over. At this time the share of the population aged 60 years and over will increase from 1 billion in 2020 to 1.4 billion. Owing to the glaring statistics growing geriatric population across the globe would contribute to the growth of the market in the forthcoming period as well. Furthermore, the home care therapeutic devices market is anticipated to grow on account of technological advancements that have led to the development of more sophisticated and user-friendly home care therapeutic devices. These devices are becoming smaller, more portable, and easier to use, enhancing patient comfort and compliance. Moreover, Home care therapeutic devices offer cost advantages compared to hospital-based care has led to a growing demand for home care therapeutic devices. However, some of the restraints in the market including regulatory compliance and reimbursement limitations are impeding the growth of this market all over the world.
Some of the major players operating in the market include Koninklijke Philips N.V., GE HealthCare, Omron Corporation, Allied Healthcare, Teleflex Incorporated, Trudell Medical International, Briggs Healthcare, Inc., Beurer GmbH, Devilbiss Healthcare LLC, Vyaire Medical, Inc. Several M&As along with partnerships have been undertaken by these players to facilitate customers with hi-tech and innovative products/technologies.
Insights Presented in the Report
“Amongst product, the oxygen transfer equipment segment held a significant share of the market in 2021.”
Based on product, the market is segmented into oxygen transfer equipment, therapy mat, nebulizers, and others. Among them, the oxygen transfer equipment segment captured a significant share of the market in 2021. Respiratory conditions, such as chronic obstructive pulmonary disease (COPD), asthma, and sleep apnea, are becoming more prevalent worldwide. These conditions often require supplemental oxygen therapy to improve oxygenation and manage symptoms. The rising incidence of respiratory conditions has created a growing demand for oxygen transfer equipment in home care settings.
“Amongst end-user, the online segment held the higher CAGR in the market in 2021.”
Based on the end-user, the market is bifurcated into online and offline. Among them, the online segment is expected to grow at a higher CAGR in the market. Online platforms provide convenience and accessibility for patients and caregivers to browse, research, and purchase home care therapeutic devices from the comfort of their own homes. Online shopping eliminates the need to visit physical stores, saving time and effort for individuals who may have limited mobility or busy schedules.
“North America dominated the Home care therapeutic devices market in 2021.”
North America, particularly the United States, is a hub for biotechnology and pharmaceutical research. The aging population in North America is a significant driver of the home care therapeutic devices market. The elderly population is more prone to chronic diseases and requires home-based care and therapeutic devices for managing their health conditions. For instance, in 2021, Philips announced the launch of its “Ageless” campaign in North America. The campaign focuses on raising awareness about the challenges faced by the aging population and highlights the role of home care therapeutic devices in enabling older adults to age gracefully and maintain their independence. Moreover, there is a growing preference among patients in North America for receiving healthcare services in the comfort and familiarity of their own homes. Home care therapeutic devices enable patients to access necessary treatments and therapies without the need for hospital visits, promoting convenience and personalized care. For instance, in 2021, Medline, a global healthcare company, expanded its home care offerings in North America. The company introduced a range of home care therapeutic devices, including mobility aids, respiratory therapy equipment, and wound care products, to cater to the increasing demand for home-based care options. Furthermore, technological advancements in home care therapeutic devices have played a vital role in driving the market in North America. Innovations such as remote monitoring capabilities, wireless connectivity, and user-friendly interfaces have improved the effectiveness and ease of use of these devices.
Home care therapeutic devices Market Report Coverage
Reasons to buy this report:
- The study includes market sizing and forecasting analysis validated by authenticated key industry experts.
- The report presents a quick review of overall industry performance at one glance.
- The report covers an in-depth analysis of prominent industry peers with a primary focus on key business financials, product portfolios, expansion strategies, and recent developments.
- Detailed examination of drivers, restraints, key trends, and opportunities prevailing in the industry.
- The study comprehensively covers the market across different segments.
- Deep dive regional level analysis of the industry.
Customization Options:
The global Home care therapeutic devices market can further be customized as per the requirement or any other market segment. Besides this, UMI understands that you may have your own business needs, hence feel free to connect with us to get a report that completely suits your requirements.
Table of Content
Research Methodology for the Home Care Therapeutic Devices Market Analysis (2022-2030)
Analyzing the historical market, estimating the current market, and forecasting the future market of the global Home care therapeutic devices market were the three major steps undertaken to create and analyze the adoption of Home care therapeutic devices in major regions globally. Exhaustive secondary research was conducted to collect the historical market numbers and estimate the current market size. Secondly, to validate these insights, numerous findings and assumptions were taken into consideration. Moreover, exhaustive primary interviews were also conducted, with industry experts across the value chain of the global Home care therapeutic devices market. Post assumption and validation of market numbers through primary interviews, we employed a top-down/bottom-up approach to forecasting the complete market size. Thereafter, market breakdown and data triangulation methods were adopted to estimate and analyze the market size of segments and sub-segments of the industry pertains to. Detailed methodology is explained below:
Analysis of Historical Market Size
Step 1: In-Depth Study of Secondary Sources:
Detail secondary study was conducted to obtain the historical market size of the Home care therapeutic devices market through company internal sources such as annual reports & financial statements, performance presentations, press releases, etc., and external sources including journals, news & articles, government publications, competitor publications, sector reports, third-party database, and other credible publications.
Step 2: Market Segmentation:
After obtaining the historical market size of the Home care therapeutic devices market, we conducted a detailed secondary analysis to gather historical market insights and share for different segments & sub-segments for major regions. Major segments are included in the report as product, application, and end-user. Further country-level analyses were conducted to evaluate the overall adoption of testing models in that region.
Step 3: Factor Analysis:
After acquiring the historical market size of different segments and sub-segments, we conducted a detailed factor analysis to estimate the current market size of the Home care therapeutic devices market. Further, we conducted factor analysis using dependent and independent variables such as product, application, and end-user of the home care therapeutic devices market. A thorough analysis was conducted for demand and supply-side scenarios considering top partnerships, mergers and acquisitions, business expansion, and product launches in the Home care therapeutic devices market sector across the globe.
Current Market Size Estimate & Forecast
Current Market Sizing: Based on actionable insights from the above 3 steps, we arrived at the current market size, key players in the global Home care therapeutic devices market, and market shares of the segments. All the required percentage shares split, and market breakdowns were determined using the above-mentioned secondary approach and were verified through primary interviews.
Estimation & Forecasting: For market estimation and forecast, weights were assigned to different factors including drivers & trends, restraints, and opportunities available for the stakeholders. After analyzing these factors, relevant forecasting techniques i.e., the top-down/bottom-up approach were applied to arrive at the market forecast for 2030 for different segments and sub-segments across the major markets globally. The research methodology adopted to estimate the market size encompasses:
- The industry’s market size, in terms of revenue (USD) and the adoption rate of the Home care therapeutic devices market across the major markets domestically
- All percentage shares, splits, and breakdowns of market segments and sub-segments
- Key players in the global Home care therapeutic devices market in terms of products offered. Also, the growth strategies adopted by these players to compete in the fast-growing market
Market Size and Share Validation
Primary Research: In-depth interviews were conducted with the Key Opinion Leaders (KOLs) including Top Level Executives (CXO/VPs, Sales Head, Marketing Head, Operational Head, Regional Head, Country Head, etc.) across major regions. Primary research findings were then summarized, and statistical analysis was performed to prove the stated hypothesis. Inputs from primary research were consolidated with secondary findings, hence turning information into actionable insights.
Split of Primary Participants in Different Regions
Market Engineering
The data triangulation technique was employed to complete the overall market estimation and to arrive at precise statistical numbers for each segment and sub-segment of the global home care therapeutic devices market. data was split into several segments & sub-segments post studying various parameters and trends in the areas of the product, application, and end-user in the global Home care therapeutic devices market.
The main objective of the Global Home care therapeutic devices Market Study
The current & future market trends of the global Home care therapeutic devices market were pinpointed in the study. Investors can gain strategic insights to base their discretion for investments on the qualitative and quantitative analysis performed in the study. Current and future market trends determined the overall attractiveness of the market at a regional level, providing a platform for the industrial participant to exploit the untapped market to benefit from a first-mover advantage. Other quantitative goals of the studies include:
- Analyze the current and forecast market size of the Home care therapeutic devices market in terms of value (USD). Also, analyze the current and forecast market size of different segments and sub-segments
- Segments in the study include areas of the product, application, and end-user.
- Define and analysis of the regulatory framework for the Home care therapeutic devices industry
- Analyze the value chain involved with the presence of various intermediaries, along with analyzing customer and competitor behaviors of the industry
- Analyze the current and forecast market size of the Home care therapeutic devices market for the major region
- Major countries of regions studied in the report include Asia Pacific, Europe, North America, and the Rest of the World
- Company profiles of the Home care therapeutic devices market and the growth strategies adopted by the market players to sustain in the fast-growing market
- Deep dive regional level analysis of the industry
Related Reports
Customers who bought this item also bought
Molecular Diagnostics Market: Current Analysis and Forecast 2025-2033
Emphasis on Product (Reagents, Instruments Services), Techniques (Polymerase Chain Reaction (PCR), Transcription-Mediated Amplification (TMA), In Situ Hybridization, DNA Sequencing & Next-Generation Sequencing (NGS), Chips and Microarrays, Others), Application (Microbiology, Virology, Hospital Acquired Infections (HAI), Genetic Testing, Oncology, Pharmacogenetics, Human Leukocytes Antigen (HLA), Blood Screening, Others), End-Users (Hospitals, Clinics & Labs, Other Healthcare Facilities) and Region/Country
April 30, 2025
