The global home medical equipment market size is calculated at US$ 26.4 billion in 2024, grew to US$ 28.04 billion in 2025, and is projected to reach around US$ 48.34 billion by 2034. The market is expanding at a CAGR of 6.24% between 2025 and 2034.
The Union Minister of Health and Family Welfare focuses on uplifting the medical device industry. For instance, in November 2024, Medtech leaders felt delighted to accept the government initiative to launch a Rs. 500 Crore scheme for medical devices to increase self-reliance and domestic manufacturing of medical appliances.
India’s potential in the medical field is driven by advancements in healthcare infrastructure, increased foreign investments, and the rise of medical tourism. For instance, in May 2025, Invest India reported that India’s healthcare and medical technology (MedTech) sector is anticipated to reach around $14 billion and is estimated to grow to around $30 billion by 2030.
The R&D process for home medical equipment involves concept development, feasibility analysis, design and development, verification and validation, regulatory submission, production, and post-market surveillance.
Key Players: Medtronic, Philips Healthcare, ResMed, Abbott Laboratories, GE Healthcare, Dexcom, Baxter International, and Omron Healthcare.
The major distribution channels include third-party logistics providers, wholesale distributors, e-commerce and online retailers, hospital pharmacies, and retail medical stores. They provide specialized services and facilitate integrated platforms.
Key Players: McKesson Corporation, Cardinal Health, Cencora, Medline Industries, Philips Healthcare.
The services are driven by the growth of e-commerce, omnichannel logistics, and aging-in-place initiatives to provide enhanced equipment features through telehealth services and AI-powered solutions.
Key Players: Philips Healthcare, Medtronic, ResMed, GE Healthcare, Abbott Laboratories, Johnson & Johnson.
In April 2025, Robert Ford, CEO of Abbott Laboratories, announced the production of Abbott’s continuous glucose monitor and FreeStyle Libre at six sites across the world, including two in the U.S.
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