Global Home Healthcare Equipment market overview 2024, Forecast To 2033

The home healthcare equipment market size has grown strongly in recent years. It will grow from $34.22 billion in 2023 to$36.74 billion in 2024 at a compound annual growth rate (CAGR) of 7.4%. The growth in the historic period can be attributed to government initiatives for home healthcare, patient preference for home care, cost-effective care, improvement in patient outcomes, awareness and education programs, rural healthcare access, healthcare infrastructure development. The home healthcare equipment market size is expected to see strong growth in the next few years. It will grow to $50.1 billion in 2028 at a compound annual growth rate (CAGR) of 8.1%. The growth in the forecast period can be attributed to digital health adoption, smart home integration, consumer-driven healthcare, advancements in remote diagnostics, expansion of telemedicine services. Major trends in the forecast period include remote patient monitoring (RPM) technology, smart home healthcare devices, patient-friendly design and user interface, medication management devices, integration of artificial intelligence (AI) and machine learning.