Meticulous Research®, a pioneering name in market research, has released an exhaustive report titled "Home Medical Equipment Market by Product (Therapeutic [CPAP, Nebulizer, Ventilator, Dialysis, IV Equipment], Monitoring [Cardiac, Glucose, Temperature, Apnea], Mobility Assist [Walker, Wheelchair, Scooter]) Distribution Channel - Global Forecast to 2030." This insightful publication projects the home medical equipment market to soar to $62.89 billion by the year 2030, boasting a notable CAGR of 6.8% from 2023 to 2030.

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The report underscores various factors fueling the market's growth trajectory, including the escalating prevalence of chronic diseases, a burgeoning geriatric population, technological advancements in home medical equipment, amplified healthcare expenditure, and the burgeoning adoption of self-health management practices. Moreover, emerging economies are primed to present substantial growth avenues. However, challenges such as the exorbitant costs of medical equipment and the absence of reimbursement for home medical equipment are anticipated to impede market expansion.

Key Players:
The report features an in-depth analysis of key players in the home medical equipment market, including but not limited to Abbott Laboratories (U.S.), Amedisys, Inc (U.S.), Baxter Healthcare (U.S.), Convatec (U.K.), Fisher & Paykel Healthcare (New Zealand), Fresenius Medical Care AG & Co. KGaA (Germany), Becton, Dickinson and Company (U.S.), GE HealthCare (U.S.), Invacare Corporation (U.S.), Medtronic (Ireland), Hill-Rom Holdings, Inc. (U.S.), Smith & Nephew plc (U.K.), and Inogen, Inc. (U.S.).

Future Outlook:
The home medical equipment market is meticulously segmented by product, distribution channel, and geography. Among the products analyzed, therapeutic equipment is poised to dominate the market landscape in 2023. This segment's supremacy is attributed to the myriad benefits it offers in home care settings, including enhanced patient safety, effective management of chronic conditions, real-time monitoring, and empowerment of self-health management practices.

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In terms of distribution channels, retail medical stores are anticipated to command the largest market share in 2023. The segment's dominance is underpinned by its cost-effective operational model, resulting in competitive pricing of home medical equipment.

Geographically, North America is slated to seize the lion's share of the home medical equipment market in 2023. This hegemony can be attributed to several factors, including the robust presence of key market players, escalating chronic disease prevalence, heightened healthcare expenditure, cost-efficiency of home medical equipment, burgeoning preference for home care setups, and the availability of comprehensive coverage options for patients.

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