ResMed, Inc. (US), Abbott (US) and F.Hoffmann-La Roche, Ltd. (Switzerland) are Leading Players in the Home Healthcare Market
The global home healthcare market is projected to reach USD 340.2 billion by 2027 from USD 226.0 billion in 2022, at a CAGR of 8.5% during the forecast period Growth in this market is mainly driven by rapid growth in the elderly population, and the rising incidence of chronic diseases.
The key players in this market are Fresenius SE & Co. KGaA (Germany), Linde, Plc (Ireland), F.Hoffmann-La Roche, Ltd. (Switzerland), A&D Company, Limited (Japan), Bayada Home Health Care (US), Invacare Corporation (US), Abbott (US), Amedisys (US), ResMed, Inc. (US), LHC Group, Inc. (US), Omron Corporation (Japan), Koninkluke Philips N.V. (Netherlands), GE Healthcare (US), Drive Devilbiss Healthcare (UK), Hamilton Medical (Switzerland), Sunrise Medical (Germany), Roma Medical (UK), Caremax Rehabilitation Equipment Co., Ltd. (China), Vitalograph (UK), Advita Pflegedienst Gmbh (Germany), Renafan Gmbh (Germany), ADMR (France), Apex Medical Corp. (Taiwan), Contec Medical Systems Co., Ltd. (China), Löwenstein Medical Technology Gmbh + Co., KG. (Germany), B. Braun Melsungen Ag (Germany), Baxter International, Inc. (US), Allied Healthcare Products, Inc. (US), Medline Industries, Inc. (US), and Advin Health Care (India).
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In 2021, ResMed dominated the sleep apnea devices market. The company has a diversified product portfolio, widespread geographical presence, and a strong focus on strategies such as product launches and innovations. The company focuses on launching technologically advanced products to maintain its position in the market. Additionally, the company has a broad product portfolio for sleep apnea disorders and offers various devices and accessories. The company prominently operates in North America. To sustain its position in the market, the company pursues product launches, approvals, and enhancements and acquisitions. For instance, in August 2021, ResMed launched AirSense 11 PAP Series, which is designed to help people across the world in the treatment and management of obstructive sleep apnea.
In 2021, Abbott (US) held the leading position in the blood glucose monitors market. Abbott’s leading position in this market can be attributed to its strong global sales and distribution network, enabling it to effectively market its products in various countries. Also, Abbott has increased its focus on R&D activities to develop unique and better products than its competitors. Abbotts’s investments in R&D to optimize its portfolio and capital allocation strategies help fuel its future growth and ability to remain competitive in the home healthcare market. In addition, Abbott’s strategies, which involve acquisitions, aim to further strengthen its position in the market. In June 2020, the company collaborated with Insulet Corporation (US), to integrate Abbott’s leading continuous glucose monitoring (CGM) technology with Insulets Omnipod Horizon Automated Insulin Delivery System to offer personalized automated insulin delivery and care for people living with diabetes.
In 2021, Roche (Switzerland) accounted for second largest market share in the blood glucose monitors market. The company has maintained a leading position in the market through its strong distribution networks across North America, Europe, and the Asia Pacific. Roche has a strong direct and indirect distribution network across the globe. Roche adopts both organic and inorganic growth strategies. For instance, in April 2021, the company acquired signed a definitive merger agreement for Roche to acquire GenMark to broaden its molecular diagnostics portfolio and in June 2020, the company introduced Sulli the Diabetes Guru, a voice-activated resource for people with diabetes.
Related Reports:
Home Healthcare Market by Product (Dialysis Equipment, IV Equipment, Ventilators, Coagulation Monitors, Peak Flow Meters), Service (Infusion Therapy, Skilled Nursing, Hospice), Indication (Cancer, Wound Care, Diabetes), and Region - Global Forecast to 2027
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