Report : South & Central America Home Medical Devices Market Forecast to 2028 - COVID-19 Impact and Regional Analysis By Functionality (Testing, Screening and Monitoring Equipment, Therapeutic Products, Mobility Care Products, Biofeedback Instruments, Electrical Stimulation Devices, and Muscle Stimulators), Services (Skilled Nursing Services, Rehabilitation Therapy Services, Hospice and Palliative Care Services, Respiratory Therapy Services, Infusion Therapy Services, Pregnancy Care Services, and Unskilled Care Services), and Distribution Channel (Hospital Pharmacies, Retail Pharmacies, and Online Retailers)
Skilled Nursing Services Segment to Dominate SCAM Home Medical Devices market during 2020–2028
According to a new market research study on “SCAM Home Medical Devices market to 2028 – COVID-19 Impact and Regional Analysis and Forecast by Functionality, Services, and Distribution channel,” is expected to reach US$ 2,661.81 million by 2028 from US$ 1,698.58 million in 2021. The market is estimated to grow at a CAGR of 5.9% from 2021 to 2028. The report provides trends prevailing in the SCAM home medical devices market along with the drivers and restraints pertaining to the market growth. Homecare setting in developing countries is the major factor driving the growth of the SCAM home medical devices market. However, stringent regulations, challenges, and risks for homecare medical devices may hinder the growth of SCAM home medical devices market.
According to Johns Hopkins University, Brazil has approached 300,000 COVID-19 deaths in a week record with 2,255 deaths and 513,408 new cases. The Pan American Health Organization (PAHO) donated 4,600 oximeters to Brazil in February 2021 to the Amazonas State Health Department and the Manaus Municipal Health Department as these devices help to monitor the health conditions of patients suffering from COVID-19. Along with oximeters, 45 oxygen cylinders and 1,500 thermometers were supplied to health facilities. Additionally, Pan American Health Organization (PAHO) has recommended using these instruments or equipment for home care to avoid exposure from healthcare facilities. This, in turn, is leading to the increasing demand for home medical devices.
The SCAM home medical devices market is segmented based on functionality, services, distribution channel and country. Based on functionality, the market is segmented into testing, screening and monitoring equipment, therapeutic products, mobility care products, biofeedback instruments, electrical stimulation devices, and muscle stimulators. In 2020, the testing, screening and monitoring equipment segment held the largest share of the market and is also expected to grow at the fastest rate during the coming years. Based on testing, screening and monitoring equipment market is divided into blood glucose monitors, heart rate monitors, sleep apnea monitors, fetal monitoring devices ,cholesterol monitoring devices ,ECG/EKG devices, hearing aids ,drug and alcohol test kits, temperature monitors, coagulation monitors, blood pressure monitors, EEG Devices, pulse oximeters, home hemoglobin a1c test kits, colon cancer test kits, ovulation and pregnancy test kits, HIV Test Kits, holter and event monitors, peak flow meters, pedometers. Based on therapeutic product market is divided into oxygen delivery systems, ventilators, dialysis equipment, sleep apnea therapeutic devices, wound care products, IV equipment, nebulizers, insulin delivery devices, inhalers, other therapeutic products. Based on mobility care market is divided into wheelchairs, walkers and rollators, mobility scooters, crutches, canes. Based on the services market is segmented into skilled nursing services, rehabilitation therapy services, hospice and palliative care services, respiratory therapy services, infusion therapy services, pregnancy care services, and unskilled care services. In 2020, the skilled nursing services segment held the largest share of the market and is expected to grow at the fastest rate during the coming years. Based on distribution channel, the SCAM home medical device market is segmented into hospital pharmacies, retail pharmacies, and online retailers. The hospital pharmacy segment held the largest share of the market in 2020. The SCAM home medical devices market is segmented into the Brazil, Argentina, and rest of South and Central America. Brazil held the largest share of the SCAM home medical devices market in 2020
Abbott, B. Braun Melsungen AG, Baxter International Inc, F. HOFFMANN-LA ROCHE LTD, GE Healthcare, Johnson and Johnson Services, Inc., Koninklijke Philips N.V., Medline Industries, Inc and Medtronic are among the leading companies in the SCAM Home Medical Devices market. The companies are focused on adopting organic growth strategies such as product launches and expansions to sustain their position in the dynamic market. For instance, in 2021, Roche has acquired GenMark Diagnostics, Inc. at a price of US$ 1.8 billion. Acquisition of GenMark is expected to broaden the diagnostics portfolio of Roche for home medical devices.
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