Aging Population, Chronic Disease Surge, and Technological Innovations Fuel Growth in Home Healthcare Devices Market

AUSTIN, TX, UNITED STATES, February 14, 2025 /EINPresswire.com/ -- According to Research by SNS Insider, The global Home Healthcare Devices Market was valued at USD 61.62 billion in 2023, is projected to reach USD 122.92 billion by 2032, growing at a steady CAGR of 8.0% from 2024 to 2032. This growth is fueled by the rising prevalence of chronic diseases, an aging population, and advancements in healthcare technology.

Key Drivers of Market Growth
• Aging Population: With individuals aged 65+ representing nearly 10% of the global population, demand for home healthcare devices such as blood pressure monitors, glucose meters, and portable oxygen concentrators is skyrocketing.
• Chronic Disease Management: The increasing incidence of diabetes, cardiovascular diseases, and respiratory conditions is driving the need for home-based monitoring and therapeutic devices.
• Technological Advancements: Integration of IoT, telemedicine, and wearable devices is revolutionizing home healthcare, enabling real-time health monitoring and remote patient care.

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By Product, the monitoring devices segment dominated the home Healthcare Devices Market with 38.0% market share

Due to increasing demand for continuous patient monitoring, especially among elderly and chronic disease patients. Devices like blood pressure-measuring devices, glucose-measuring devices, and ECG devices play a critical role in managing diabetes,  hypertension, and heart disease. As more individuals are being diagnosed with these conditions, home health care has become an essential part of avoiding being admitted to the hospital and benefiting patient care. Moreover, the development of wearable technology coupled with telehealth integration has greatly increased the functionality of monitoring devices, thereby improving patient ease of use in remote care and subsequently contributing to dominance in this segment in the forecast timeframe. Real-time tracking of health enables early intervention, reducing complications and improving the quality of life for patients.

By Service, the infusion therapy segment of the home healthcare devices market dominated the 2023 market with 35.0% market share

This is due to the essential part played by infusion therapy in the management of chronic diseases and conditions that require long-term administration of medications. Infusion therapy provides patients with intravenous fluids, medications, and nutrition in the comfort of their homes to decrease hospitalizations. This division is especially crucial for patients with diseases like cancer, diabetes, and autoimmune diseases who need treatments regularly. Recent innovations in portable infusion device technology have made home-based infusion therapy more attractive for both patients and providers alike. In addition to this, the increasing demand for home healthcare due to its cost-effectiveness for patients made the infusion therapy segment hold a larger market share in 2023.

By Software, the Agency Software segment dominated the market with the largest share of the 2023

This is due to its importance and vital role in enhancing the overall operational efficiency and management of home healthcare agencies. Navigating mountains of paperwork can be tedious, but this software simplifies the administrative process by helping manage patient scheduling, billing, and caregiver management, allowing agencies that provide an increasing number of home healthcare services to do so easily. Agency software and mobile functionalities are imperative as the demand for home healthcare, particularly due to the aging population, is increasing and these all-in-one solutions allow an agency to remain on track and compliant with their patients all while managing vast amounts of patient data. Home healthcare agency software is well-focused on the needs of service delivery and operational performance in the industry, helping service providers improve the quality of their service delivery and operational performance through its ease of use, automation, and reporting capabilities.

By Application, the cardiovascular diseases & Hypertension segment accounted for the highest market share in the Home Healthcare Devices Market in 2023,

Driven by the high prevalence of cardiovascular diseases and hypertension worldwide. Globally, cardiovascular diseases are the top cause of mortality, as stated by the World Health Organization (WHO), claiming over 18 million lives each year. Resulting in the demand for homecare healthcare devices like blood pressure monitors, portable ECGs, and wearable heart rate monitors, which allow people to regularly check their status from home. The increasing focus on preventing complications arising out of hypertension and heart disease, along with the need for continuous monitoring, has established the dominance of this segment.

In 2023,  North America accounted for the highest market share in the Home Healthcare Devices Market with a 42.35% market share

Due to several reasons, such as advanced healthcare infrastructure, high healthcare expenditure, and adoption of the latest technologies. For example, in the US, the aging population approaches 70 million, with millions of elderly needing home healthcare services to manage chronic conditions, including cardiovascular diseases, diabetes, and respiratory disorders. Moreover, rising costs of healthcare and a growing tendency of patients to prefer to receive care at home have fueled the demand for home healthcare devices. Furthermore, the presence of well-established reimbursement policies for home healthcare devices in North America, along with the increasing implementation of telemedicine in the region, is also adding value to the home healthcare devices market.

Key Players in the Home Healthcare Devices Market

Monitoring Devices
• Abbott Laboratories
• Medtronic plc
• OMRON Healthcare Inc.
• Philips Healthcare

Testing Devices
• B. Braun Melsungen AG
• Inogen, Inc.
• AirSep Corporation
• Caire, Inc.

Infusion Therapy
• Baxter International Inc.
• Convatec Group plc
• Johnson & Johnson

Rehabilitation Services
• Drive Medical
• Sunrise Medical LLA
• Meyra

Respiratory Therapy
• ResMed Inc.
• Invacare Corporation
• Teijin Pharma Limited

Skilled Nursing Services
• Hill-Rom Holdings Incorporated
• Medline Industries LP

Miscellaneous Offerings
• GE Healthcare
• Stryker
• Beckton Dickinson

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Table of Contents – Major Key Points
1. Introduction
2. Executive Summary
3. Research Methodology
4. Market Dynamics Impact Analysis
5. Statistical Insights and Trends Reporting
6. Competitive Landscape
7. Home Healthcare Devices Market by Product
8. Home Healthcare Devices Market by Service
9. Home Healthcare Devices Market by Software
10. Home Healthcare Devices Market by Application
11. Regional Analysis
12. Company Profiles
13. Use Cases and Best Practices
14. Conclusion

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