A recent report on Durable Medical Equipment Market provides a detailed analysis of the industry size, revenue forecasts and geographical landscape pertaining to this business space. Additionally, the report highlights primary obstacles and the latest growth trends accepted by key players that form a part of the competitive spectrum of this business
Global Durable Medical Equipment Market is valued at USD 158.21 Billion in 2018 and expected to reach USD 239.79 Billion by 2025 with the CAGR of 6.12% over the forecast period.
Scope of Global Durable Medical Equipment Market Report–
Durable medical equipment are tools used in the patient’s home and are designed to help improve the quality of life for someone with a medical condition. It is further defined by the United States government under Medicare, and most insurance plans for billing purposes. For example; According to Medicare, durable medical equipment is definitely iron lungs, oxygen tents, nebulizers, CPAP, catheters, hospital beds, and wheelchairs. Medicare Part A typically only covers about 80% of the costs associated with durable medical equipment as long as the supplies are considered medically necessary and the patient also qualifies for the Home Health Benefit. Disposable medical supplies are occasionally covered for items such as diabetic testing and administering supplies, feeding tubes and colostomy supplies. Durable medical equipment also includes blood testing monitors and strips for individuals testing their glucose, with or without diabetes this type of medical equipment needs to be easy to use, and not surprisingly durable.
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Global Durable medical equipment market report is segmented on the basis of source type, application and regional & country level. Based upon type, durable medical equipment market is classified as personal mobility devices, bathroom safety devices, medical furniture, monitoring and therapeutic devices. Based upon application, durable medical equipment market is classified as hospitals, nursing homes, home healthcare and others.
Key Players for Global Durable Medical Equipment Market Report–
Global Durable medical equipment market Report covers prominent players are like Invacare, GF, Hill Rom, Sunrise Medical, Drive Medical, ArjoHuntleigh, Medline, Stryker, Carex and others.
Invacare Corporation Introduced New Brand of Power Wheelchairs with Launch of the Invacare AVIVA FX Power Wheelchair
August 20th, 2018; Invacare Corporation announced, the launch of the Invacare AVIVA FX Power Wheelchair setting a replacement standard for the front-wheel drive power mobility market. The facility wheelchair is available for order on Friday, March 6, 2020. They’re proud to introduce the next generation of Invacare power mobility products with the AVIVA FX Power Wheelchair. The AVIVA brand features a unique identity that conveys a promise of best-in-class design, technology and performance. The AVIVA FX Power Wheelchair will offer current front-wheel drive users a high-performance chair that’s an innovation in front-wheel drive power mobility said Joost Beltman, vice president, sales and marketing for North America.
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Increasing Geriatric Population and Prevalence of Chronic Diseases are the Major Factors Driving the Growth of Global Durable Medical Equipment Market.
Increasing elderly population base across the globe is regarded as the major factor contributing to drive the growth of global durable medical equipment market. The number of older population aged 80 years and above is projected to grow at a much faster rate than the younger population. According to World health organization, between 2015 and 2050, proportion of the world’s population over 60 years will double from 12% to 22%. By 2020, the number of people aged 60 years and older will outnumber children younger than 5 years. In 2050, 80% of older people will be living in low- and middle-income countries. Additionally, the prevalence of chronic diseases is also expected to foster the growth of durable medical equipment market. The burden of chronic diseases is rapidly increasing worldwide. According to World health organization, chronic diseases contributed approximately 60% of the 56.5 million total reported deaths in the world and approximately 46% of the global burden of disease. The proportion of the burden of Non communicable diseases is expected to increase to 57% by 2020.
Key Benefits for Global Durable Medical Equipment Market Report–
Global market report covers in depth historical and forecast analysis.
Global market research report provides detail information about Market Introduction, Market Summary, Global market Revenue (Revenue USD), Market Drivers, Market Restraints, Market opportunities, Competitive Analysis, Regional and Country Level.
Global market report helps to identify opportunities in market place.
Global market report covers extensive analysis of emerging trends and competitive landscape.
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Global Durable Medical Equipment Market Segmentation:–
Personal Mobility Devices
Bathroom Safety Devices
Medical Furniture, Monitoring and Therapeutic Devices
By Regional & Country Analysis:
Middle East and Africa
Rest of Middle East and Africa
Table of Content
Chapter 1. Global Durable Medical Equipment Market Definition & Scope
1.1. Research Objective
1.2. Market Definition
1.3. Scope of The Study
1.4. Years Considered for The Study
1.5. Currency Conversion Rates
1.6. Report Limitation
Chapter 2. Research Methodology
2.1. Research Process
2.1.1. Data Mining
2.1.3. Market Estimation
2.2. Research Assumption
Chapter 3. Executive Summary
3.1. Global & Segmental Market Estimates & Forecasts, 2015-2025 (USD Billion)
3.2. Key Trends
Chapter 4. Global Durable Medical Equipment Market Dynamics
Chapter 5. Global Durable Medical Equipment Market by Component
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