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Home Medical Equipment Market to be Worth $62.89 Billion by 2030 – Exclusive Report by Meticulous Research®

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REDDING, Calif., June 19, 2024 /PRNewswire/ — According to a new market research 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,’ published by Meticulous Research®, the home medical equipment market is projected to reach $62.89 billion by 2030, at a CAGR of 6.8% from 2023 to 2030.

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Home medical equipment is used to fulfill patients’ healthcare needs at home. It is mostly used when a patient or individual requires prolonged care or stays in healthcare facilities. Home medical equipment includes therapeutic, mobility, assistive, and patient support equipment used by individuals or patients to control numerous conditions, such as respiratory diseases, mobility disorders, and cancer.

The key players profiled in the home medical equipment market report are 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.). The report also includes an extensive assessment of the key growth strategies adopted by leading market players in the last three to four years. The global home medical equipment market has witnessed several strategic developments in the past few years.

Technological advancements in home medical equipment, the increasing prevalence of chronic diseases coupled with the rising geriatric population globally, the growing adoption of self-health management practices, and rising healthcare expenditure are driving the growth of this market.

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Furthermore, emerging economies are expected to offer significant opportunities for the growth of this market. However, the high costs of medical equipment and the absence of reimbursement for home medical equipment are expected to restrain the market’s growth.

Rising Healthcare Expenditure to Drive the Demand for Home Medical Equipment

Healthcare expenditure encompasses all the financial resources allocated to ensure the optimal functioning of healthcare systems and the delivery of high-quality patient care. The increasing healthcare expenditures in various countries indicate a growing emphasis on promoting overall population health and disease prevention. This trend is expected to drive the adoption of advanced medical technologies, increase funding and initiatives for disease diagnosis and treatment, and the establishment of healthcare facilities with advanced infrastructure. This rise in healthcare expenditure is observed in both developed and developing countries. The U.S. has significantly higher healthcare spending than other economies.

In 2021, healthcare spending in the U.S. reached USD 4.3 trillion, with the average healthcare cost per person being nearly USD 12,900. Furthermore, according to The Federal Statistical Office, Germany’s healthcare expenditure reached USD 560.95 billion (Euro 474.1 billion) in 2021, representing an increase compared to the previous year. Additionally, healthcare spending in Brazil is projected to rise to approximately 12.6% of GDP by 2040, an increase from 9.6% in 2019 (Source: OECD).

The global geriatric population is experiencing rapid growth. According to data from the World Health Organization, the proportion of individuals aged 60 years and above is expected to nearly double from 12% to 22% globally between 2015 and 2050. In Asia-Pacific, countries including Japan, South Korea, and Hong Kong are expected to have the largest share of people over 65 years and older by 2050. The prevalence of common conditions in older age, including diabetes, chronic obstructive pulmonary disease, cardiovascular diseases, and cancer, contributes to higher utilization of home medical equipment for home care. The elderly population, often unable to visit hospitals for regular checkups, relies on medical products that can be conveniently used at home. Therefore, the rising elderly population drives the adoption of home medical equipment.

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Home Medical Equipment Market: Future Outlook

 The home medical equipment market is segmented by Product [Therapeutic Equipment {Home Respiratory Therapeutics Equipment (CPAP machines, CPAP accessories), Oxygen Delivery Equipment (Oxygen Concentrator, Nasal Cannula, Nebulizers, Ventilators (Invasive Ventilators, Non-invasive Ventilators), Humidifiers), Home IV Equipment (IV Pumps, IV Administration, IV Accessories), Home Dialysis Equipment (Home Peritoneal Dialysis Products (Consumables (Dialyzers, Concentrates/Dialysates, Bloodlines, Other Peritoneal Dialysis Consumables)), Devices (Center-Use, Home-Use), Home Hemodialysis Products (Consumables (Concentrates/Dialysates, Catheters, Other Hemodialysis Consumables)) Devices), Patient Monitoring Equipment (Cardiac Monitoring Equipment, Blood Glucose Monitoring Equipment, Temperature Monitoring Equipment, Apnea Monitoring Equipment, Other Patient Monitoring Equipment), Mobility Assist & Patient Support Equipment (Wheelchairs (Manual Wheelchairs, Powered Wheelchairs)), Walking Assist Device (Walker & Roller, Canes & Walking Sticks, Crutches), Bathroom Safety Equipment, Mobility Scooters, Medical Furniture & Accessories)}, Distribution Channel {Retail Medical Stores, Hospital Pharmacies, E-commerce Channels}, and Geography {North America, Europe, Asia-Pacific, Latin America, and the Middle East & Africa}.

Based on product, the home medical equipment market is segmented into therapeutic equipment, patient monitoring equipment, and mobility assist & patient support equipment. In 2023, the therapeutic segment is expected to account for the largest share of the home medical equipment market. Therapeutics equipment provides home care by helping individuals or patients manage their respiratory conditions & treatment at home. The growing prevalence of diseases that require frequent usage of home medical equipment, such as home dialysis equipment and intravenous pumps, the aging population, advancements in home medical equipment, and higher costs of hospitalizations contribute to the large market share of this segment.

Among the distribution channels covered in this study, in 2023, the retail medical stores segment is expected to account for the largest share of the home medical equipment market. The large market share of this segment is attributed to the easy availability and accessibility of home medical equipment and lower operating costs. Retail medical stores offer a wide range of products and other medical supplies. Retail medical stores offer a wide range of products and medical supplies, providing convenient access for patients needing home medical equipment and supplies. The convenience offered by these stores contributes to the significant market share of this segment.

Based on geography, the home medical equipment market is segmented into North America, Europe, Asia-Pacific, Latin America, and the Middle East & Africa. North America is expected to account for the largest share of the home medical equipment market. North America’s major market share is attributed to the growing aging population, the increasing prevalence of chronic diseases that necessitate the use of home medical equipment, the ongoing development of healthcare infrastructure, and the rising healthcare expenditures in the region.

However, Asia-Pacific is projected to register the highest CAGR during the forecast period. The growth of this regional market is attributed to growing investments in home healthcare in emerging countries like China, Japan, and India, the rising preference for home-based treatments due to higher hospitalization costs, government initiatives promoting home care, and the growing prevalence of chronic diseases due to the aging population.

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Scope of the Report:

Home Medical Equipment Market Assessment—by Product

Therapeutic EquipmentHome Respiratory Therapeutics EquipmentCPAP MachinesCPAP AccessoriesOxygen Delivery EquipmentOxygen ConcentratorsNasal CannulaNebulizersVentilatorsInvasive VentilatorsNon-invasive VentilatorsHumidifiersHome IV EquipmentIV PumpsIV AdministrationIV AccessoriesHome Dialysis EquipmentHome Peritoneal Dialysis ProductsConsumablesDialyzersConcentrates/DialysatesBloodlinesOther Peritoneal Dialysis ConsumablesDevicesCenter-UseHome-UseHome Hemodialysis ProductsConsumablesConcentrates/DialysatesCathetersOther Hemodialysis ConsumablesDevicesPatient Monitoring EquipmentCardiac Monitoring EquipmentBlood Glucose Monitoring EquipmentTemperature Monitoring EquipmentApnea Monitoring EquipmentOther Patient Monitoring EquipmentMobility Assist & Patient Support EquipmentWheelchairsManual WheelchairsPowered WheelchairsWalking Assist DevicesWalkers & RollersCanes & Walking SticksCrutchesBathroom Safety EquipmentMobility ScootersMedical Furniture & Accessories

Home Medical Equipment Market Assessment—by Distribution Channel

Retail Medical StoresHospital PharmaciesE-commerce Channels

Home Medical Equipment Market Assessment—by Geography

North AmericaU.S.CanadaEuropeU.K.GermanyFranceItalySpainSwitzerlandNetherlandsBelgiumRest of EuropeAsia-PacificChinaJapanIndiaRest of Asia-PacificLatin AmericaBrazilMexicoRest of Latin AmericaMiddle East & AfricaSaudi ArabiaUAERest of Middle East & Africa

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Related Reports:

Home Healthcare Market by Offering (Fertility, Pregnancy, Cholesterol Tests, Oximeters, CPAP, Nebulizers, Ventilators, Dialysis, Patient Support Equipment), Services (Rehabilitation, Telehealth, Nursing, Hospice), Application (Cardiovascular, Diabetes, Respiratory) – Global Forecast to 2030

Latin America Home Healthcare Market by Offering (Equipment [Therapeutic {Insulin, Dialysis}, Diagnostic {Blood Pressure, Heart Rate}, Mobility], Services [Skilled {Primary Care, Nursing Nutritional}], Application (CVD, Diabetes, Cancer) – Forecast to 2030

Infusion Pumps Market by Product (Devices [Volumetric, Insulin, Enteral, Ambulatory, PCA], Accessories, Smart Infusion System), Application (Hormones, Antibiotics, Chemotherapy drugs), End User (Hospital, Home Health Care, ACS) – Global Forecast to 2024

About Meticulous Research®

Meticulous Research® was founded in 2010 and incorporated as Meticulous Market Research Pvt. Ltd. in 2013 as a private limited company under the Companies Act, 1956. Since its incorporation, the company has become the leading provider of premium market intelligence in North America, Europe, Asia-Pacific, Latin America, and the Middle East & Africa.

The name of our company defines our services, strengths, and values. Since the inception, we have only thrived to research, analyze, and present the critical market data with great attention to details. With the meticulous primary and secondary research techniques, we have built strong capabilities in data collection, interpretation, and analysis of data including qualitative and quantitative research with the finest team of analysts. We design our meticulously analyzed intelligent and value-driven syndicate market research reports, custom studies, quick turnaround research, and consulting solutions to address business challenges of sustainable growth.

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Meticulous Market Research Inc.
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MaryRuth’s Celebrates TikTok Shop Super Brand Day With Exclusive Offers and Viral Favorites

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January 12, 2025

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LOS ANGELES, Jan. 12, 2025 /PRNewswire/ — MaryRuth’s, the trusted leader in liquid vitamins and wellness products, is thrilled to announce its participation in TikTok Shop’s Super Brand Day from January 12 to 18, 2025. For this exclusive event, MaryRuth’s is celebrating with up to 40% off shopwide and exclusive multi-pack bundles of their top-selling products including viral favorites.

MaryRuth’s Liquid Morning Multivitamin + Hair Growth became a social media sensation in 2024, with over 369,000 bottles sold and 18,000 5-star reviews from customers who rave about its convenience, taste, and powerful benefits for health and hair growth. With these exclusive deals on TikTok Shop, MaryRuth’s aims to make its most-loved products even more accessible to its community to kick off healthy habits in 2025.

“We are so thrilled to be part of TikTok Shop’s Super Brand Day,” said MaryRuth Ghiyam, Founder and CEO of MaryRuth’s. “Our mission has always been to help people feel their best with high-quality, delicious, easy-to-use wellness products, and this event allows us to reach even more people with great deals on the products they love.”

Customers can take advantage of up to 40% off all products on MaryRuth’s TikTok Shop and shop specially curated bundles, including multi-packs of the Liquid Morning Multivitamin + Hair Growth. Designed to support overall health as well as hair thickness, hair growth, and skin health, this multivitamin has become a must-have for many health-conscious individuals.

MaryRuth’s will also showcase engaging TikTok content to celebrate this partnership, including product demonstrations, customer testimonials, and exclusive offers for TikTok users.

Mark your calendars for January 12-18, 2025, and join MaryRuth’s in celebrating TikTok Shop Super Brand Day. Don’t miss this opportunity to shop viral favorites and stock up to support your wellness for the new year and beyond!

About MaryRuth’s
MaryRuth was inspired to help empower others to take wellness into their own hands after seeing how health issues personally impacted her loved ones. As a health educator, nutritional consultant, culinary chef, and mom to 4 children, MaryRuth was driven to formulate a delicious, easy-to-take multivitamin with quality ingredients for her clients and family. This led to the creation of what is now America’s #1 best-selling liquid multivitamin. Through our growing product line, we aim to continue what was MaryRuth’s original mission: helping you to create small, healthy habits to move forward every day.

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SOURCE MaryRuth Organics

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Neusoft Education officially renamed as ” Neutech Group Limited “, accelerating the advancement of the “education-healthcare-wellness and mind tour” strategy in a new stage

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January 12, 2025

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HONG KONG, Jan. 11, 2025 /PRNewswire/ — On 9 January, Neusoft Education (09616.HK) announced that the Company’s English name will change from “Neusoft Education Technology Co. Limited” to “Neutech Group Limited”. The name change will take effect on the same day.

According to the announcement, the Company’s renaming to “Neutech Group Limited” better reflects its strategic transformation and upgrade, and more accurately demonstrates its five-in-one industry layout of “education-healthcare-wellness and mind tour”. This will establish a new corporate brand image and highlight the Company’s comprehensive strength in technological innovation and integrated development. Starting with the name change, the Company will focus on education and adapt to the aging economy, promoting the parallel development of academic education, continuing education, senior education, and resource output. This will create a business model of “education-assisted healthcare, education-assisted wellness, medical-care conversion, medical-education assistance, care-supported medicine, and care-education assistance”. Driven by technology and platform research and development, the company will achieve integrated development of education, medicine, care, health, and tourism, as well as efficient use of human, financial, and material resources. This will build a harmonious and inclusive “education + technology + medical care + health + tourism” prosperous ecosystem. It is expected to further enhance the Company’s brand reputation and industry influence, and support its sustainable development.

Neutech Group, as a pioneer in the “education-healthcare-wellness and mind tour” ecosystem in China, successfully listed on the Main Board of the Hong Kong Stock Exchange on 29 September 2020, becoming the “first stock of IT higher education” (stock code: 9616.HK). With the broad market opportunities brought by the aging population and the positive support of policies for the development of the elderly care industry, the Company leverages its innovative research and development capabilities in “education + technology + medical care” to build a new ecosystem of integrated development of ” education-healthcare-wellness and mind tour”.

In the education technology business sector, the Company will retain the main body of ” Neusoft Education Group” and continue to operate academic education, continuing education, and resource output businesses. Based on IT innovation education, the Company will further develop the “digital media” and “medical care” fields, build an integrated ecosystem of “education-healthcare-wellness”, and consolidate the core competitiveness of education technology in the future. The Company will also establish a characteristic product and service system based on the 4S model, providing first-class platforms, resources, models, and management services to governments, universities, hospitals, and health care institutions, continuously empowering partners’ reform and development.

In the elderly education and elderly care technology business sector, following the concept of “Elderly care starts with prevention, education drives elderly care, and technology empowers elderly care”, the Company has deeply developed elderly education through Neuedu Phoenix Academy and created a unique “LIFECARES” model of integrated elderly education with “leisure, care, medical services, education, and integration”. Using top-notch medical and care services and platform services to empower the elderly to live a happy life, the Company is building a dream university for active seniors. In addition, the Company will strengthen the training of elderly care service personnel by creating a one-stop industry chain of “university training + training + intern + human resource services”. On the other hand, the Company will build a medical and care technology operation service model, create an elderly care solution industrial ecosystem through the output of overall smart elderly care solutions and elderly care technology products and services, and achieve mutually beneficial cooperation with ecological partners.

In the medical and health care service sector, the Company integrates customer management service systems to provide intelligent medical and elderly care information solutions, and create a “medical care and elderly care” integrated development system with treatment-based medical institutions, rehabilitation-based nursing institutions, and care-based elderly care institutions. Its subsidiaries, Ruikang Cardiovascular Hospital, Dalian Ruikang Zhuomei Stomatology Hospital Co., Ltd., and Wecare Family Nursing Home, have been put into operation.

In the wellness tourism sector, targeting energetic seniors, the Company integrates tourism, education, and elderly care into one, with a focus on “leisure learning, slow travel, and peaceful living”. Through the concept of “study-travel-care”, seniors can experience a variety of dimensions of “learning-travel-care” in their travel and learning process, creating a comprehensive elderly education model that provides opportunities for art experiences, promotes physical and mental relaxation, enhances cultural literacy, and expands social interaction.

In addition, the Company expands its industrial management and service sector, with the vision of building a better life and using technology to empower intelligent logistics. It explores diverse, characteristic, and value-added service models to meet the diverse needs of internal and external customers, continuously expanding its brand reputation and social influence.

With its keen market insight and deep accumulation of industry and education resources, Neutech Group Limited actively embraces the development of the silver-haired economy, timely enters new tracks, and improves its position in the industrial ecosystem. Now, the Group’s new layout of “education-healthcare-wellness and mind tour ” has been formed, which not only helps to create a new growth curve but also continuously expands new development margins, moving towards becoming a leader in the development of the “education-healthcare-wellness and mind tour” ecosystem.

CONTACT: Lin Wei, weilin@neuedu.com

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SOURCE Neutech Group Limited

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RoboSense and Coco Robotics Forge Strategic Partnership to Revolutionize Autonomous Last-Mile Delivery

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January 12, 2025

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LAS VEGAS, Jan. 12, 2025 /PRNewswire/ — RoboSense (2498.HK), a global leader in AI-driven robotics technology, and Coco Robotics, an innovator in delivery robots, have announced a strategic partnership to transform last-mile logistics. By combining RoboSense’s advanced sensor technology with Coco Robotics’s delivery solutions, the collaboration aims to enhance safety, efficiency, and sustainability in urban networks.

Coco Robotics bridges the gap between local businesses and customers through advanced navigation and real-time tracking, prioritizing sustainability by reducing carbon emissions and delivery costs. Since its launch in 2020, the company has expanded operations to major U.S. and European cities, forming partnerships with food delivery leaders like Uber Eats and DoorDash to meet the growing demands of modern logistics and support a greener future.

This partnership addresses key challenges in autonomous last-mile delivery by integrating RoboSense’s perception solutions into Coco Robotics’s fleet to enhance navigation and obstacle detection. Together, the companies are accelerating the deployment of delivery robots to optimize efficiency and scale operations.

“We’re thrilled to collaborate with RoboSense to push the boundaries of what’s possible in last-mile delivery,” said Zach Rash, Co-founder and CEO of Coco Robotics. “This partnership strengthens our ability to provide safe, reliable, and sustainable delivery solutions at scale, helping us better serve businesses and communities.”

Mark Qiu, CEO of RoboSense, said, “The successful collaboration with Coco Robotics is one of the key milestones in RoboSense’s global strategy. By combining our visual sensor technology with Coco Robotics’ innovative robotics solutions, we aim to redefine what’s possible in autonomous last-mile delivery. RoboSense will continue to innovate, providing superior incremental components and solutions to our global robotics customers. Partnering with Coco Robotics, we will create safer, smarter robotic delivery services and expand into global markets.”  

About RoboSense

RoboSense (2498.HK), founded in 2014, is an AI-driven robotics technology company that supplies industry-leading incremental components and solutions for the robotics market. The company is committed to “Become the global leader in robotics technology platforms”, and its mission is “Safer world, Smarter life”. For more information about RoboSense, visit https://www.robosense.ai 

About Coco Robotics

Coco Robotics is the world’s largest urban robot delivery platform. Founded in 2020, Coco has completed over 500,000 zero-emission deliveries, serving customers in the US and Europe. Coco’s mission is to create a more sustainable, reliable, and affordable last-mile logistics solution in cities around the world. For more information about Coco, visit cocodelivery.com  

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SOURCE RoboSense Technology Co., Ltd.

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