About Home Therapy Machine
Home Therapy Machine is a structure of system utilized for sufferers whose therapy is dealt with from a domestic or some other non-public facility via a non-professional caregiver or household member. This is additionally referred to as "durable" scientific tools (DME), due to the fact it is constructed for non-professionals or the affected person to stand up to repeated use and is perfect for domestic use. These units grant a secure, convenient, reasonably priced and appropriate surroundings for sufferers inside their home. Numerous tools are used for domestic affected person care, such as infusion pumps, wheelchairs, apnea monitors, glucose meters, and cannula. For example, glucose meters or glucometers are normally used for measuring blood glucose tiers for diabetes in the household.
Attributes | Details |
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Study Period | 2018-2030 |
Base Year | 2023 |
Unit | Value (USD Million) |
CAGR | 6.77% |
The market is seeing moderate market players, by seeing huge growth in this market the key leading vendors are highly focusing towards the production technologies, efficiency enhancement and product life. There is various growth opportunity in this market which is captured by leading players via tracking the ongoing process enhancement and huge invest in market growth strategies. Analyst at AMA Research estimates that United States Players will contribute the maximum growth to Global Home Therapy Machine market throughout the forecasted period. Established and emerging Players should take a closer view at their existing organizations and reinvent traditional business and operating models to adapt to the future.
Abbott Laboratories (United States), B Braun Melsungen Ag (Germany), Baxter International Incorporated (United States), Becton (United States), Dickinson and Company (United States), General Electric Company (United States), Hill-Rom Holdings Incorporated (United States), Johnson & Johnson (United States), Medtronic plc (Ireland) and Smith & Nephew plc. (United Kingdom) are some of the key players that are part of study coverage. Additionally, the Players which are also part of the research coverage are Omron Corporation (Japan) and Resmed Corporation (United States).
Segmentation Overview
AMA Research has segmented the market of Global Home Therapy Machine market by , Application (Musculoskeletal Applications, Neurological Applications, Cardiovascular & Pulmonary Applications and Others) and Region.
On the basis of geography, the market of Home Therapy Machine has been segmented into South America (Brazil, Argentina, Rest of South America), Asia Pacific (China, Japan, India, South Korea, Taiwan, Australia, Rest of Asia-Pacific), Europe (Germany, France, Italy, United Kingdom, Netherlands, Rest of Europe), MEA (Middle East, Africa), North America (United States, Canada, Mexico). If we see Market by Distribution Channel, the sub-segment i.e. Hospital Pharmacies will boost the Home Therapy Machine market. Additionally, the rising demand from SMEs and various industry verticals gives enough cushion to market growth.
Influencing Trend:
Technological Advancements in Home Medical Equipment
Market Growth Drivers:
Increased In Prevalence of Chronic Diseases Such As Asthma, Diabetes, and COPD, Surge In Geriatric Population and Increase in Demand for Rehabilitation after Surgeries, Chemotherapy, and Radiation
Challenges:
Alternative Therapies and Strict Government Norms for Manufacturers
Restraints:
Unsteady Reimbursement Scenario for Physiotherapy and Lack of Trained and Skilled Personnel
Opportunities:
Rising Technological Advancements
Market Leaders and their expansionary development strategies
In October 2023, University Hospitals (UH), one of the nation's leading healthcare systems based in Cleveland, Ohio, has joined forces with Luna, the leading provider of in-home, in-person outpatient physical therapy, to expand access to services. By partnering with Luna, we are reducing barriers to access high quality, convenient physical therapy direct to a patient’s home
In June2023, Kaia Health, the world's largest digital therapeutics company with more than 650,000 users today announced the launch of Angela, a HIPAA-compliant, AI-powered voice-based digital care assistant, companion, and guide. Angela provides patients with the personalized support they need at the time and place that is most convenient for them, creating a richer, more human-like experience.
Key Target Audience
Home Therapy Machine Manufacturers, Home Therapy Machine Distributors and Suppliers, Raw Materials Suppliers, Venture Capitalists and Others
About Approach
To evaluate and validate the market size various sources including primary and secondary analysis is utilized. AMA Research follows regulatory standards such as NAICS/SIC/ICB/TRCB, to have a better understanding of the market. The market study is conducted on basis of more than 200 companies dealing in the market regional as well as global areas with the purpose to understand the companies positioning regarding the market value, volume, and their market share for regional as well as global.
Further to bring relevance specific to any niche market we set and apply a number of criteria like Geographic Footprints, Regional Segments of Revenue, Operational Centres, etc. The next step is to finalize a team (In-House + Data Agencies) who then starts collecting C & D level executives and profiles, Industry experts, Opinion leaders, etc., and work towards appointment generation.
The primary research is performed by taking the interviews of executives of various companies dealing in the market as well as using the survey reports, research institute, and latest research reports. Meanwhile, the analyst team keeps preparing a set of questionnaires, and after getting the appointee list; the target audience is then tapped and segregated with various mediums and channels that are feasible for making connections that including email communication, telephonic, skype, LinkedIn Group & InMail, Community Forums, Community Forums, open Survey, SurveyMonkey, etc.