According to a new report published by Reports Monitor titled, “Durable Medical Equipment Market by Equipment Type and End-User: Global Opportunity Analysis and Industry Forecast, 2017–2025,” the durable medical equipment market was valued at XX million in 2016, and is projected to reach at XX million by 2025, growing at a CAGR of XX% from 2017 to 2025.
In last decade healthcare industry has shown massive improvement pertaining to technical advances. Durable medical equipment is any sort of device used by patient for prolonged period of time specifically at home care settings in order to treat chronic disorders such as diabetes, cancer or many others. These equipment’s are reusable and intended for long-term use with appropriate training from skilled healthcare professionals. DME can be totally manageable by caretaker or a family member of a patient once given hands on training.
Growing prevalence of chronic diseases demands for long course of treatment and patient care that is expected to flourish the applicability of DME which will drive the growth of the market. Owing to growing prevalence of chronic diseases, rapidly increasing geriatric population, accident disability and reliability of home care setting over hospital stay drives the growth of the durable medical equipment market. However, clinical validation & periodic calibration of the instrument, digitalized products & reluctance to adopt for digitally advanced product wing to social stigma and at times performance failure of the equipment may hamper the growth of the market.
Growing geriatric populace affected with various long term diseases, well-established healthcare infrastructure, increased awareness among people and growing inclination of people toward healthy lifestyles, suitable healthcare reimbursement policies and administrative auxiliary actions leads the growth of the North America followed by Europe.
The global durable medical equipment market is segmented on the basis of equipment type, end-user and region. The equipment type segment is broadly categorized into personal mobility devices, bathroom devices, medical furniture and monitoring & therapeutic devices. Personal mobility devices are separated into wheelchairs, walkers, crutches & cans and others. Bathroom devices are divided into commodes, toilet rails or frames and others.
Medical furniture segment is distributed into medical beds, stretchers, mattress, lift chairs and others. Monitoring & therapeutic devices is segmented into oxygen equipment, blood glucose monitors, vital sign monitors, infusion pump and others. On the basis of end-user the market is bifurcated into hospitals, home care settings, ambulatory surgical centers, long-term care centers and others.
The global market for durable medical equipment appears to be highly fragmented in terms of competition. The major players in the global DME market include Medtronic plc., Becton, Dickinson and Company, Medline Industries, Inc., Medline Industries Inc., Stryker Corporation, GF Health Products Inc., Invacare Corporation, Baxter International, Inc., Hill-Rom Holdings, Inc. and Sunrise Medical LLC. Facility expansion, strategic collaboration or partnership and broadening product portfolio are few of the key initiatives undertaken by these participants.
For instance, Invacare Corporation, in 2017 announced the launch of the three high-active custom manual wheelchairs in the U.S.
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