Global Home Healthcare Devices Market - 2025-2033

Global Home Healthcare Devices Market - 2025-2033

The global home healthcare devices market reached US$ 46.25 billion in 2024 and is expected to reach US$ 82.27 billion by 2033, growing at a CAGR of 6.8% during the forecast period 2025-2033.

Home healthcare devices are a set of medical devices and technologies that individuals can use at home to manage their health conditions. Individuals can use these devices to monitor and treat a variety of medical concerns without having to make regular visits to healthcare institutions, supporting a more comfortable and convenient approach to healthcare. The growing demand for home-based care reflects a larger trend in the healthcare sector, in which people want to keep their independence while obtaining necessary medical treatment.

The increased patient demand for home-based treatments is the driving factor that drives the market over the forecast period. Several factors contribute to this move toward home healthcare, including an aging population, an increase in the prevalence of chronic diseases, and developments in medical technology that improve the feasibility and effectiveness of home-based care.

Market Dynamics: Drivers & Restraints

Increased patient demand for home-based treatments

The increased patient demand for home-based treatments is expected to be a significant factor in the growth of the global home healthcare devices market. This trend is primarily fueled by several interconnected factors, including the aging population, the rising prevalence of chronic diseases, and advancements in technology, introduction of artificial intelligence in the devices that facilitate effective care at home. The expanding geriatric population has a substantial impact on the global home medical equipment market, owing to older persons' specific healthcare needs. As people age, they are more likely to develop chronic diseases that require continuing medical treatment and monitoring.

The increase in the geriatric population is one of the major reasons for the increasing demand of the home-based treatment. For instance, according to WHO, in 2050, 80% of older people will be living in low- and middle-income countries. The pace of population aging is much faster than in the past. In 2020, the number of people aged 60 years and older outnumbered children younger than 5 years. Between 2015 and 2050, the proportion of the world's population over 60 years will nearly double from 12% to 22%. By 2030, 1 in 6 people in the world will be aged 60 years or over.

The technological advancements, recent launches, and FDA approvals of various devices drives the market. For instance, in November 2024, Medtronic received U.S. Food and Drug Administration (FDA) approval for its new InPen smartphone software and announced the release of its new Smart MDI system. Smart MDI was created to give users real-time information about multiple daily injection (MDI) therapy.

Moreover, in September 2024, Abbott Laboratories announced that its over-the-counter continuous glucose monitor Lingo is available in the U.S. One of Abbott’s primary goals is to help Lingo users learn about glucose spikes, which occur when the amount of sugar present in the bloodstream rapidly increases and then decreases.

High costs of devices

Factors such as high costs of devices are expected to hamper the global home healthcare devices market. The high cost of medical devices is a major concern for potential consumers. Many home healthcare products, such as insulin pumps, nebulizers, and advanced monitoring systems, come with high prices that may hinder patients from purchasing them. This is especially true in areas where insurance coverage for such devices is low or non-existent, requiring patients to face the entire expense themselves. For instance, the average price of the insulin delivery system ranges from $3,000 to $ 6,000. This highlights the substantial cost burden that people suffer when using these vital devices.

Segment Analysis

The global home healthcare devices market is segmented based on therapeutic devices, monitoring devices, mobility care devices, distribution channels, and region.

Monitoring devices segment is expected to dominate the global home healthcare devices market share

The monitoring devices segment is anticipated to dominate the global home healthcare devices market. The monitoring devices segment is expected to lead the worldwide home healthcare devices market due to several interconnected variables that represent the changing face of healthcare. As chronic diseases become more common, there is an increased demand for ongoing health monitoring, particularly among older persons and those with long-term health concerns. This shift toward proactive health management stresses the relevance of patient monitoring devices, which enable people to follow vital signs and other health metrics from home, allowing for more prompt interventions and lowering the need for hospital visits.

For instance, in August 2024, Dexcom announced the launch of an over-the-counter continuous glucose monitor. Dexcom's Stelo monitors blood glucose levels constantly via a wearable sensor and an application on the user's smartphone or other smart device. Moreover, in June 2024, Prevounce Health, a leading provider of remote care management software, devices, and services, announced the launch of its first remote blood glucose monitoring device, Pylo GL1-LTE. The blood glucose meter has been scientifically tested and linked to numerous cellular networks to guarantee more dependable data transmission across the United States. The GL1-LTE is compatible with the Prevounce remote care management platform and may be integrated with other health software using the Pylo cloud API. Prevounce's Pylo cellular-connected gadgets include blood pressure monitors and weight scales.

Geographical Analysis

North America is expected to hold a significant position in the global home healthcare devices market share

North America is expected to hold a significant portion of the global home healthcare devices market. North America will likely dominate the global home healthcare devices market, owing to a combination of demographic, economic, and technical factors. The region benefits from a well-established healthcare infrastructure that encourages the use of home healthcare solutions. As the geriatric population and frequency of chronic diseases increases, so does the demand for home medical equipment that enables patients to properly manage their health conditions from the comfort of their own homes. This trend to home-based treatment not only improves patient comfort but also decreases the pressure on healthcare facilities, making it a popular choice among many individuals and families.

For instance, according to urban.org, the number of Americans aged 65 and older will more than double over the next 40 years, reaching 80 million in 2040. The number of adults ages 85 and older, the group most often needing help with basic personal care, will nearly quadruple between 2000 and 2040. For an instance, according to America Health Ranking.org, 17.3% of the entire US population is geriatric population.

There are major players present in this region which makes this region the most dominating. For instance, in November 2024, Medtronic received U.S. Food and Drug Administration (FDA) approval for its new InPen smartphone software and announced the release of its new Smart MDI system. Smart MDI was created to give users real-time information about multiple daily injection (MDI) therapy.

Asia Pacific is growing at the fastest pace in the global home healthcare devices market

The Asia Pacific region is emerging as the fastest-growing market for home healthcare devices. One of the major contributions to this growth is the rising prevalence of chronic diseases in the population and the increasing geriatric population. Diabetes, cardiovascular diseases, and respiratory ailments are growing increasingly prevalent as people's lifestyles change and urbanization accelerates. The rise in chronic diseases demands continual monitoring and management, making home medical devices crucial for individuals who prefer to manage their health at home rather than visit healthcare facilities.

The increasing geriatric population is one of the driving factors in this region making it the fastest growing region. For instance, according to the UNFPA India, the current elderly population of 153 million (aged 60 and above) is expected to reach a staggering 347 million by 2050.

Competitive Landscape

The major global players in the global home healthcare devices market include Invacare Corporation, Karman Healthcare Inc., Ottobock, Pride Mobility Products Corp., Medtronic, Sunrise Medical, Meyra GmbH, Koninklijke Philips N.V., Nihon Kohden Corporation, Danaher Corporation among others.

Emerging Players

Livongo, Tyto Care, and iRhythm Tech among others

Key Developments
• In August 2024, Hong Kong-based health tech start-up Libpet introduced its innovative smart robot wheelchairs, designed not only for the physically challenged but for everyone. By reducing physical effort, the inclusive device enhances mobility and productivity, making life significantly easier.
• In November 2023, DuPont announced a collaboration between DuPont Liveo Healthcare Solutions and STMicroelectronics, a global leader in semiconductor technology. Together, they are working on the development of a new smart wearable device concept aimed at remote biosignal monitoring.

Why Purchase the Report?
• Pipeline & Innovations: Reviews ongoing clinical trials, product pipelines, and forecasts upcoming advancements in medical devices and pharmaceuticals.
• Product Performance & Market Positioning: Analyzes product performance, market positioning, and growth potential to optimize strategies.
• Real-World Evidence: Integrates patient feedback and data into product development for improved outcomes.
• Physician Preferences & Health System Impact: Examines healthcare provider behaviors and the impact of health system mergers on adoption strategies.
• Market Updates & Industry Changes: Covers recent regulatory changes, new policies, and emerging technologies.
• Competitive Strategies: Analyzes competitor strategies, market share, and emerging players.
• Pricing & Market Access: Reviews pricing models, reimbursement trends, and market access strategies.
• Market Entry & Expansion: Identifies optimal strategies for entering new markets and partnerships.
• Regional Growth & Investment: Highlights high-growth regions and investment opportunities.
• Supply Chain Optimization: Assesses supply chain risks and distribution strategies for efficient product delivery.
• Sustainability & Regulatory Impact: Focuses on eco-friendly practices and evolving regulations in healthcare.
• Post-market Surveillance: Uses post-market data to enhance product safety and access.
• Pharmacoeconomics & Value-Based Pricing: Analyzes the shift to value-based pricing and data-driven decision-making in R&D.

The global home healthcare devices market report delivers a detailed analysis with 60+ key tables, more than 50 visually impactful figures, and 176 pages of expert insights, providing a complete view of the market landscape.

Target Audience 2024
• Manufacturers: Pharmaceutical, Medical Device, Biotech Companies, Contract Manufacturers, Distributors, Hospitals.
• Regulatory & Policy: Compliance Officers, Government, Health Economists, Market Access Specialists.
• Technology & Innovation: AI/Robotics Providers, R&D Professionals, Clinical Trial Managers, Pharmacovigilance Experts.
• Investors: Healthcare Investors, Venture Fund Investors, Pharma Marketing & Sales.
• Consulting & Advisory: Healthcare Consultants, Industry Associations, Analysts.
• Supply Chain: Distribution and Supply Chain Managers.
• Consumers & Advocacy: Patients, Advocacy Groups, Insurance Companies.
• Academic & Research: Academic Institutions.