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Market Research for Home Healthcare Medical Equipment Oct 26, 2021

Few people know that, under the premise of global warming, the number of chronic disease patients around the world has been on the rise in the last decade, with 1.26 billion people diagnosed with chronic diseases, according to reports, and this figure is still increasing. However, ninety-five percent of these patients with chronic diseases do not need clinical treatment, but only health management, which also creates a trillion dollar market for chronic disease management.

The biggest difficulty with chronic disease management is the inability to share timely and effective messages and the lack of a systematic profile, which makes it impossible for physicians to track patients' conditions. In addition, chronic disease management is a long process, and it is not possible to make regular trips to the hospital for treatment. Therefore, the homeization of chronic disease monitoring/testing becomes the main trend now.

One of the most important aspects of the home-based chronic disease monitoring/testing is home medical devices. In fact, in recent years, with the improvement of income level and living standard of the world's residents and the acceleration of population aging, the expenditure in the field of health and health care is increasing, and the home medical equipment market, represented by blood pressure monitors, nebulizers, household oxygen concentrator, household manual wheelchairs and Electric wheelchair, home care beds, has been growing rapidly.

Home medical devices welcome important development period

Home medical equipment are mainly divided into four categories: therapeutic instruments, testing devices, health care devices and nursing and rehabilitation devices, of which subcategories such as blood glucose meters, blood pressure meters, massage devices have become standard for home consumer products. According to the published "2016-2021 China Medical Devices Industry Market Foresight and Investment [Live Money] Forecast Analysis Report", the global home medical devices market size increased from $17.9 billion in 2010 to $52.9 billion in 2021, with a compound annual growth rate of 6.7%, and the market growth rate of home medical devices from 2013 to 2018 is expected to remain at 6.52%, exceeding the growth rate of the parent medical device industry by 2.12% over the same period, and even higher than the overall growth rate of the pharmaceutical market at 3.81%.

Home medical equipment are different from medical equipment used in hospitals, which have the main features of simple operation, compact size and easy portability, especially when applied to some chronic diseases, such as blood pressure blood glucose detection/monitoring. Due to the increasing aging and the rising number of patients with various chronic diseases in various countries around the world, the potential demand crowd is the basis for the development of home medical devices.
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