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| U.S. Home Medical Equipment Market to Reach $20.41 Bn by 2027 at 5.6% CAGR: Allied Market Research | ||
| By: PR Newswire Association LLC. - 13 May 2021 | Back to overview list |
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PORTLAND, Ore., May 13, 2021 /PRNewswire/ -- Allied Market Research published a report, titled, "U.S. Home Medical Equipment Market by Functionality (Therapeutic Equipment, Patient Monitoring Equipment, and Mobility Assist & Patient Support Equipment) and Distribution Channel (Hospital Pharmacies, Retail Pharmacies, and Online Retailers): Opportunity Analysis and Industry Forecast, 2020–2027." According to the report, the U.S. home medical equipment industry generated $11.53 billion in 2019, and is expected to generate $20.41 billion by 2027, witnessing a CAGR of 5.6% from 2020 to 2027.  Download Sample Report at: https://www.alliedmarketresearch.com/request-sample/11424 Prime determinants of growth Increase in prevalence of chronic diseases and technological advancements drive the growth of the U.S. home medical equipment market. However, limited expertise for home-based users and complications associated with use of medical equipment hinder the market growth. On the other hand, surge in demand for asthma, chronic obstructive pulmonary disease (COPD), and oxygen-related products present opportunities in the market. Covid-19 Scenario
The therapeutic equipment segment to maintain its leadership status during the forecast period Based on functionality, the therapeutic equipment segment contributed to the highest share in 2019, accounting for more than two-fifths of the U.S. home medical equipment market, and is projected to maintain its leadership status during the forecast period. Moreover, this segment is expected to manifest the largest CAGR of 6.3% from 2020 to 2027. This is due to rise in demand for therapeutic equipment raised the number of new product approvals and launches. The report analyzes the segments including patient monitoring equipment and mobility assist & patient support equipment. Enquiry for Short-term and Long-term Impacts of COVID-19 at: https://www.alliedmarketresearch.com/purchase-enquiry/11424 The retail pharmacies segment to maintain its lead position throughout the forecast period Based on distribution channel, the retail pharmacies segment accounted for the highest market share in 2019, holding nearly half of the U.S. home medical equipment market, and is estimated to maintain its lead position throughout the forecast period. This is due to a wide variety of medical devices ranging from small portable medical devices to big-sized mobility devices and medical furniture offered by these stores. However, the online retailers segment is expected to manifest the fastest CAGR of 6.3% from 2020 to 2027, owing to convenience and increased accessibility of newly launched devices along with lower costs of products as compared to other distribution channels. Leading Market Players
Avenue Basic Plan | Library Access | 1 Year Subscription | Sign up for Avenue subscription to access more than 12,000+ company profiles and 2,000+ niche industry market research reports at $699 per month, per seat. For a year, the client needs to purchase minimum 2 seat plan. Avenue Library Subscription | Request for 14 days free trial of before buying: https://www.alliedmarketresearch.com/avenue/trial/starter Get more information: https://www.alliedmarketresearch.com/library-access We have also published few syndicated market studies in the similar area that might be of your interest. Below are the report title for your reference, considering Impact of Covid-19 Over This Market which will help you to assess aftereffects of pandemic on short-term and long-term growth trends of this market. Trending Reports by 2020-2027: Remote Patient Monitoring Market - Global Opportunity Analysis and Industry Forecast, 2019–2027 Nurse Call Systems Market - Global Opportunity Analysis and Industry Forecast, 2019–2027 Over the Counter (OTC) Drugs Market - Global Opportunity Analysis and Industry Forecast, 2019–2027 Electrocardiograph (ECG) Market - Global Opportunity Analysis and Industry Forecast, 2019–2027 Surgical Equipment Market - Global Opportunity Analysis and Industry Forecast, 2019–2027 Surgical Robotics Market - Global Opportunity Analysis and Industry Forecast, 2019–2027 Medical Spa Market - Global Opportunity Analysis and Industry Forecast, 2019–2027 About Us Allied Market Research (AMR) is a full-service market research and business-consulting wing of Allied Analytics LLP based in Portland, Oregon. Allied Market Research provides global enterprises as well as medium and small businesses with unmatched quality of "Market Research Reports" and "Business Intelligence Solutions." AMR has a targeted view to provide business insights and consulting to assist its clients to make strategic business decisions and achieve sustainable growth in their respective market domain. We are in professional corporate relations with various companies and this helps us in digging out market data that helps us generate accurate research data tables and confirms utmost accuracy in our market forecasting. Allied Market Research CEO Pawan Kumar is instrumental in inspiring and encouraging everyone associated with the company to maintain high quality of data and help clients in every way possible to achieve success. Each and every data presented in the reports published by us is extracted through primary interviews with top officials from leading companies of domain concerned. Our secondary data procurement methodology includes deep online and offline research and discussion with knowledgeable professionals and analysts in the industry. Contact: David Correa
SOURCE Allied Market Research 
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