The Asia-Pacific home medical equipment market is anticipated to grow at a CAGR of 7.0% during the forecast period (2020-2026). The high unmet medical requirements, increasing base of aging populations and rapidly improving healthcare technology in countries such as India and China are expected to be the major factors fueling the growth of the Asia-Pacific home equipment industry.
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Additionally, developed countries in Asia-Pacific are experiencing a significantly high aging rate leading to significant hikes in chronic ailments such as cardiac disorders, diabetes, and respiratory diseases that require long-term care. Moreover, in emerging economies, cardiovascular diseases, chronic respiratory diseases, diabetes, and cancer are the top fatal diseases in the South-East Asia Region. According to the World Health Organization (WHO), these diseases claim an estimated 8.5 million lives each year. The high prevalence and increasing disposable income of these countries will influence the adoption of home medical equipment in the region.
Moreover, home healthcare and the use of home medical equipment provides the option of cost-effective hospital care where institutional healthcare can cost comparatively high. Furthermore, the favorable regulatory framework of the region is also driving the market. For instance, Japan’s National Health Insurance consists of 16 types of services (under home healthcare) approved for reimbursement. In general, insurance for home healthcare devices and services covers 90% of the cost.
Market Coverage
- The market number available for – 2019-2026
- Base year- 2019
- Forecast period- 2020-2026
Segment Covered-
- By Type
- By Distribution Channel
Regions Covered-
- India
- China
- Japan
- Rest of Asia-Pacific
- Competitive Landscape- B. Braun Melsungen AG, Abbott Laboratories, General Electric Co. Omron Healthcare, Inc., Koninklijke Philips N.V., Cardinal Health Inc.
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Asia-Pacific Home Medical Equipment Market Report Segment
By Type
- Diagnostic & Monitoring Device
- Therapeutic Devices
- Mobility Care Devices
- Medical Furniture
By Distribution Channel
- Online
- Offline
Asia-Pacific Home Medical Equipment Market Report Segment by Region
- India
- China
- Japan
Rest of Asia-Pacific
Company Profiles
- Abbott Laboratories Inc.
- Arkray Inc.
- B. Braun Melsungen AG
- Baxter International Inc
- Becton, Dickinson and Co.
- Cardinal Health Inc
- F. Hoffmann-La Roche Ltd.
- Fisher & Paykel Healthcare Corp Ltd.
- General Electric Co.
- Hill-Rom Holdings, Inc.
- Invacare Corp.
- Johnson & Johnson
- Koninklijke Philips N.V.
- Medtronic PLC
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