Home Medical Equipment Sector on Trajectory to Reach $62.89 Billion by 2030

According to the findings presented in the report, the home medical equipment market is poised to burgeon to $62.89 billion by the year 2030, reflecting a robust CAGR of 6.8% from 2023 to 2030. Key factors propelling this growth trajectory include the escalating incidence of chronic ailments alongside an aging population, relentless technological innovations in home medical equipment, escalating healthcare expenditure, and the burgeoning acceptance of self-health management paradigms. Moreover, burgeoning economies are slated to furnish significant avenues for market expansion. However, challenges such as the exorbitant costs associated with medical equipment and the absence of reimbursement frameworks for home medical equipment are anticipated to temper market growth.