Home Medical Equipment Market Projected to Reach USD 75.82 Billion by 2033 | DataM Intelligence

Home medical equipment market to hit $75.82B by 2033, driven by aging population, tech innovation, and rising demand for cost-effective home care solutions.

CALIFORNIA, CA, UNITED STATES, May 21, 2025 /EINPresswire.com/ -- The home medical equipment market is on a strong upward trajectory, projected to grow from $45.35 billion in 2024 to US$75.82 billion by 2033, reflecting a CAGR of 6.8% during the forecast period. The market is witnessing robust momentum due to the convergence of demographic, technological, and healthcare cost-efficiency trends.

Several factors contribute to the expansion of the home medical equipment market:

• Aging Population: The increasing global elderly population necessitates home-based medical care, driving demand for equipment that supports independent living and chronic disease management.
• Technological Advancements: Breakthroughs such as AI-enabled monitoring devices, portable oxygen concentrators, wearable ECGs, and IoT-enabled smart infusion pumps are enhancing at-home care delivery.
• Cost-Effective Healthcare: Home medical equipment offers a cost-efficient alternative to prolonged hospital stays, aligning with the shift towards value-based healthcare models.

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Market Segmentation:

The home medical equipment market is categorized into several segments:
• Therapeutic Equipment: Including dialysis machines, respiratory therapy devices, and intravenous equipment.
• Mobility Assist and Patient Support Equipment: Encompassing mobility aids, medical furniture, and bathroom safety products.
• Patient Monitoring Equipment: Covering cardiac monitors, temperature monitors, and blood glucose monitoring devices.
• End-Users: Comprising home healthcare providers, nursing homes, and rehabilitation centers.

Regional Insights:

North America currently leads the market, attributed to advanced healthcare infrastructure and high adoption rates of home medical devices. However, the Asia-Pacific region is anticipated to witness significant growth due to increasing healthcare awareness and rising disposable incomes.

Recent Industry Trends (2025)

• Smart Home Integration: Major players are integrating medical devices with smart home ecosystems (e.g., Amazon Alexa, Google Nest) to enable real-time alerts and improve caregiver connectivity.
• Telehealth Synergy: Companies are partnering with telemedicine providers to offer comprehensive remote monitoring + consultation packages.
• Subscription Models: There’s a rise in subscription-based home medical equipment rental services, especially for oxygen therapy and mobility devices.
• Green & Sustainable Equipment: Increasing focus on eco-friendly, recyclable materials and energy-efficient medical devices.
• AI-driven Predictive Health Management: Integration of machine learning to anticipate critical health events using home-based monitors is gaining traction in 2025.

Market Players:

Key global players in the home medical equipment market include Invacare Corporation, Karman Healthcare Inc., Ottobock, Pride Mobility Products Corp., Medtronic, Koninklijke Philips N.V., GE HealthCare, Abbott, Nihon Kohden Corporation, Danaher Corporation, and several others.

Industry News:

1. In May 2025, Medtronic announced plans to spin off its diabetes division into a separate publicly traded company within 18 months. This move aims to allow the diabetes unit, which generated nearly $2.5 billion in fiscal 2024, to expand more rapidly and recover from past regulatory and performance challenges. The division will continue to sell insulin delivery products like the MiniMed insulin pump and smart pens, and is developing a new glucose sensor in partnership with Abbott.

2. In November 2024, Invacare sold its North American business to MIGA Holdings LLC. This acquisition aims to optimize Invacare's operations and accelerate growth in North America, enhancing its ability to better satisfy customer needs and expand as a market leader in the healthcare mobility space.

3. In January 2025, Philips signed an agreement to sell its Emergency Care business to Bridgefield Capital, a US-based investment firm. The Emergency Care business offers products critical in acute care management, including automated external defibrillators. Philips and the Emergency Care business will enter into a brand license agreement to use the Philips brand for manufacturing, sales, and marketing of Emergency Care products globally for up to 15 years.

4. In October 2024, Ottobock invested €22.5 million in ONWARD^® Medical, a European medical technology company developing therapies to restore movement and independence in people with spinal cord injury. This investment makes Ottobock the largest shareholder of ONWARD^® Medical and marks the beginning of a closer partnership.

5. GE HealthCare: Continuing to expand its digital home diagnostics suite, with emphasis on AI-enhanced ultrasound and ECG systems tailored for remote usage. In 2025, GE launched a smart wearable cardiac patch for 24-hour monitoring in home settings, reducing ER visits.

Future Outlook:

The home medical equipment market is transitioning from basic functional aids to smart, connected, and patient-centric technologies. Companies that invest in innovation, regional customization, and digital transformation are well-positioned to lead this growth curve. By 2033, home-based care is expected to become a mainstream pillar in global healthcare delivery, supporting aging societies and relieving healthcare system burdens.

For detailed insights, market segmentation, and competitive benchmarking, access the full Home Medical Equipment Market report here: https://www.datamintelligence.com/buy-now-page?report=home-medical-equipment-market

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Sai Kiran
DataM Intelligence 4market Research LLP
877-441-4866
sai.k@datamintelligence.com
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