The North American home medical equipment market is anticipated to grow with a considerable CAGR of 5.4% during the forecast period. The increase in the popularity of in-home care across the region in order to gain a cost advantage and reduce hospital expenditure is the major growth driver for the home medical equipment market. The increasing preference of patients to opt for home care owing to the convenience and privacy is also driving the growth of the home medical equipment market. Certain factors such as innovation in the products, easy availability of equipment, and aging demographics are also providing an edge to the growing home medical equipment market in North America.
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Furthermore, the burden of chronic diseases has increased significantly across the region in recent decades. According to the US Center for Disease Control and Presentation (CDC), six in ten Americans live with at least one chronic disease, such as heart disease & stroke, cancer, or diabetes. Moreover, the surge in hospital healthcare costs is also making people adopt home care, thereby influencing the growth of the home medical equipment market.
North America Home Medical Equipment Market Report Segment
By Type
- Diagnostic and Monitoring Device
- Therapeutic Devices
- Mobility Care Devices
- Medical Furniture
By Distribution Channel
- Online
- Offline
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North America Home Medical Equipment Market– Segment by Region
- United States
- Canada
Company Profiles
- Abbott Laboratories Inc.
- Arkray Inc.
- Braun Melsungen AG
- Baxter International Inc.
- Becton Dickinson and Co.
- Hoffmann-La Roche Ltd.
- Fisher & Paykel Healthcare Corp Ltd.
- Fresenius Medical Care AG & Co.
- General Electric Co.
- GF Health Products, Inc.
- Hill-Rom Holdings, Inc.
- Invacare Corp.
- Johnson & Johnson
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