The European home medical equipment market is anticipated to grow at a CAGR of 5.6% during the forecast period (2020-2026). With the continuously evolving health care system of the region with more and more people getting aware of home care and its advantages, the European medical equipment industry is poised to experience lucrative growth.
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Additionally, owing to the low birth rates and higher life expectancy, in 2019, more than one-fifth (20.3%) of the EU-27 population was registered to be aged 65 and over by Eurostat. The high number of aged populations in the region are experiencing multiple chronic conditions, such as diabetes or dementia, and functional impairments, such as difficulty with basic mobility. This is expected to drive the adoption of home medical equipment in the region.
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Moreover, the high adoption of home medical equipment in the region can also be attributed to the cost-effectiveness in comparison to the care in institutions. Furthermore, most countries across the region have a strong presence of different types of companies or agencies involved in the provision of home care, each usually providing services such as domestic aid, home equipment use, and training, or home nursing. It is another major factor that will provide significant momentum to the European home medical equipment market.
Market Coverage
- The market number available: 2019-2026
- Base year- 2019
- Forecast period- 2020-2026
- Segment Covered-
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