Durable Medical Equipment Market Analysis
The global durable medical equipment market is anticipated to grow at a 6% CAGR between 2019-2025, states the latest Market Research Future (MRFR) report. Durable medical equipment, simply put, is any medical equipment that is utilized at home to offer a better quality of living. It is intended to manage different illnesses and medical conditions and offer patients with therapeutic benefits and convenience. Also known as home medical equipment, they can be easily handled by the patient’s caregiver or family members.
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Various factors are propelling the durable medical equipment market growth. Such factors, as per the latest Market Research Future report, include rising penetration of healthcare staff and services, increasing geriatric population, growing number of elderly care centers, favorable reimbursement policies and better coverage for the DME industry, and increasing incidence of gynecological complications, neurological conditions, ophthalmic ailments, cardiac disorders, and cancer.
On the contrary, high equipment and maintenance costs, scarcity of skilled professionals, and stringent regulatory guidelines are factors that may hamper the durable medical equipment market growth during the forecast period.
Durable Medical Equipment Market Segmentation
The Market Research Future report provides an all-inclusive segmental analysis of the durable medical equipment market on the basis of end user and device type.
By device type, the durable medical equipment market is segmented into bathroom safety devices, monitoring & therapeutic devices, medical furniture, and personal mobility devices. The personal mobility devices segment is again segmented into walker and rollators, crutch and cane, wheelchair, and other personal mobility devices. The medical furniture segment is again segmented into stretchers, lift chairs, medical beds and mattresses, and others. The monitoring and therapeutic devices segment is again segmented into diabetic supplies, orthopedic braces and support, cardiology devices, ostomy bags and accessories, traction equipment, infusion pump, continuous passive motion, vital sign monitor, oxygen equipment, blood glucose monitor, and others. The bathroom safety devices segment is again segmented into the toilet, commode, and others. Of these, personal mobility devices will dominate the market during the forecast period.
By end user, the durable medical equipment market is segmented into home healthcare, research centers, ambulatory surgical center, hospital/clinic, and others. Of these, the hospital/clinic segment will dominate the market during the forecast period.
Durable Medical Equipment Market Regional Analysis
By region, the Durable Medical Equipment Market report covers the latest trends and growth opportunities across the Asia Pacific, the Americas, Europe, and the Middle East and Africa. Of these, the Americas will hold the lion’s share in the market during the forecast period. Various factors pushing the growth of the durable medical equipment market in the region include the presence of several medical device companies, the presence of a well-developed healthcare sector, growing demand for technologically advanced products, and increasing incidence of chronic disorders.
The durable medical equipment market in Europe will have the second-largest share in the market during the forecast period. Various factors pushing the growth of the durable medical equipment market in the region include the presence of several healthcare organizations in the region, increasing mergers and acquisitions, and advancement in technology in the healthcare industry.
The durable medical equipment market in the APAC region will grow at the fastest pace during the forecast period. Various factors pushing the growth of the durable medical equipment market in the region include the growing geriatric population coupled with the vast patient pool having chronic diseases such as asthma, arthritis, cancer, and diabetes.
The durable medical equipment market in the MEA will have a small share during the forecast period. A major part of the market is predicted to be held by the Middle East owing to increasing initiatives by the government for the expansion of the healthcare sector and the presence of a well-developed healthcare sector.
Durable Medical Equipment Market Key Players
Notable players profiled in the durable medical equipment market report include Medical Device Depot, Inc. (US), Stryker (US), Hill-Rom (US), ArjoHuntleigh (UK), Masimo (US), Medline Industries Inc. (US), Koninklijke Philips NV (UK), Sunrise Medical (UK), Medtronic Inc. (Ireland), Invacare Corporation (US), GF Health Products Inc. (US), Getinge AB (US), GE Healthcare (US), and Compass Health Brand (US).
November 2019: SteriTouch has joined hands with Thermaset for developing innovative coatings, especially nylon-modified antimicrobial powder coat, to offer improved durability to hospital trollies. This powder coat is especially useful in radiator casings, medical furniture, and others where robust solutions are needed.
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