Global Durable Medical Equipment market was valued at USD168.87 billion in 2018. It is forecast to grow 6.1% during the forecast period. Medical equipment that is durable can be used to manage various conditions and illnesses and provide convenience and therapeutic benefits for patients.
Product demand will increase due to increasing incidences of cancer, heart disease, neurological conditions, ophthalmic illnesses, and gynecological problems. DME market growth will also be boosted by better coverage and reimbursement policies. The DME market will also be driven by the rising number of elderly care centres due to the growing geriatric population.
Low immunity levels in elderly people make them more susceptible to neurological, skeletal and cardiac problems. This makes it even more important that they receive long-term care. According to estimates, this will increase the demand for DME products in the future. The UN published data in 2017 that showed that the world's population over 60 was approximately 960 million. This represented 13.0% of the total population.
Long-term medical equipment plays an important role in providing long-term support after surgery. The market is expected to grow due to this. However, the industry is expected to be hindered by strict regulatory guidelines in developed countries and a shortage of skilled professionals who can repair these machines.
The market can be divided by product into personal mobility devices, bathroom safety products, medical furniture, monitoring and therapeutic devices. The market share held by personal mobility devices was 8.5% in 2018. It is expected to grow at a maximum CAGR 6.4% during the forecast period. People Inc. introduced People First Mobility (PFM) as a DME supplier in January 2016. It provides a powered wheelchair, hospital bed, lift, and scooters to people with developmental disabilities who require special attention.
Segment growth is expected to be fueled by the introduction of highly technologically advanced products that offer superior patient comfort and portability. Infusion pumps, nebulizers, blood sugar monitors and other therapeutic devices include oxygen equipment, suction pumps and Continuous Positive Airway Pressure, (CPAP), traction equipment and others. Other products include wound care products and cardiology devices.
In 2018, the market share for other segments was highest. The segment's growth is expected to be boosted by rising cases of lifestyle-related illnesses and increased demand for wireless monitoring devices. Due to the increasing prevalence of asthma and chronic obstructive pulmonary disease (COPD), the segment of neonatars will be the second fastest growing over the forecast period.
The market can be divided into hospitals, nursing homes, and home healthcare based on its end-use. Due to the high patient volume and better financing, hospitals dominated the end-use segment. Nursing homes provide the best care in a non-hospital setting. Nursing homes offer more than just basic care. They also provide custodial care which includes skilled care such as dressing and bathing, as well as providing meals. This segment will see a significant increase in demand due to the growing number of such facilities around the world.
North America is expected be a major contributor to the global market. The region will continue to grow due to the presence of top manufacturers and rapid adoption of new products. The market will also benefit from a growing number of hospitals and a growing elderly population. As a result, Asia Pacific will be the region with the fastest growth rate during the forecast period. This is due to the growing target population and the support of government initiatives.
The Indian Government envisioned a National Health Policy in 2017 to ensure quality healthcare outcomes. It also introduced Draft National Medical Device Policy in 2015 to decrease dependence on imports and give impetus for the Make in India initiative. The new Goods and Services Tax (GST), at 12%, was also implemented. This is expected to reduce manufacturing costs and lower final product prices. The region's growth will also be aided by the economic progress made by countries like China, India, South Korea, and improvements in healthcare infrastructure.
Invacare Corporation, Stryker Corporation, Stryker Corporation, Hill Rom, Inc., Drive Medical, GF Health Products, Inc., Sunrise Medical, Medline Industries, Inc., and Carex Health Brands, Inc. are some of the major players in this market. These companies focus on strategic acquisitions, agreements, and partnerships for the development of business. In January 2019, Medical Imaging Corp., which supplies medical supplies to U.S. and Canadian hospitals, purchased Sandy Shores Medical, Inc., an supplier of DME products.
This report forecasts volume and revenue growth at the global, regional and country level. It also provides analysis of industry trends for each sub-segment from 2015 to 2026. Up Market Research segmented the global Durable Medical Equipment Market report based on product, end-use, and region.
Product Outlook (Revenue USD Million, 2015-2026)
Personal Mobility Devices
Wheelchairs
Scooters
Walker and Rollators
Cranes and crutches
Door Openers
Other Devices
Bathroom Safety Devices and Medical Furniture
Toilets and commodes
Mattress & Bedding Equipment
Monitors and therapeutic devices
Blood Sugar Monitors
Continuous Passive Motion (CPM)
Infusion pumps
Nebulizers
Oxygen Equipment
Continuous Positive Airway Pressure (CPAP)
Suction pumps
Traction Equipment
Other Equipment
End Use Outlook (Revenue USD Million, 2015-2026)
Hospital
Nursing Homes
Home Healthcare
Other End-Users
Regional Outlook (Revenue USD Million, 2015-2026)
North America
U.S.
Canada
Europe
U.K.
Germany
France
Italy
Spain
Asia Pacific
Japan
China
India
Australia
South Korea
Latin America
Brazil
Mexico
Argentina
Colombia
Middle East & Africa
South Africa
Saudi Arabia
UAE
Up Market Research published a new report titled “Durable Medical Equipment (DME) Market research report which is segmented by End Use (Hospitals, Nursing Homes), By Players/Companies partnerships for business development For instance, Inc; and Carex Health Brands, a provider of medical supplies to the US and Canadian hospitals, Inc These firms focus on strategic acquisitions, Inc, Inc; Sunrise Medical; Medline Industries, a supplier of DME products, acquired Sandy Shores Medical, Inc; Drive Medical; GF Health Products, in January 2019, agreement, Medical Imaging Corp, Invacare Corporation; ArjoHuntleigh; Stryker Corporation; Hill Rom”. As per the study the market is expected to grow at a CAGR of XX% in the forecast period.
Report Attributes | Report Details |
Report Title | Durable Medical Equipment (DME) Market Research Report |
By End Use | Hospitals, Nursing Homes |
By Companies | partnerships for business development For instance, Inc; and Carex Health Brands, a provider of medical supplies to the US and Canadian hospitals, Inc These firms focus on strategic acquisitions, Inc, Inc; Sunrise Medical; Medline Industries, a supplier of DME products, acquired Sandy Shores Medical, Inc; Drive Medical; GF Health Products, in January 2019, agreement, Medical Imaging Corp, Invacare Corporation; ArjoHuntleigh; Stryker Corporation; Hill Rom |
Regions Covered | North America, Europe, APAC, Latin America, MEA |
Base Year | 2020 |
Historical Year | 2018 to 2019 (Data from 2010 can be provided as per availability) |
Forecast Year | 2028 |
Number of Pages | 245 |
Number of Tables & Figures | 172 |
Customization Available | Yes, the report can be customized as per your need. |
The report covers comprehensive data on emerging trends, market drivers, growth opportunities, and restraints that can change the market dynamics of the industry. It provides an in-depth analysis of the market segments which include products, applications, and competitor analysis.
The market is segmented by End Use (Hospitals, Nursing Homes).
Durable Medical Equipment (DME) Market research report delivers a close watch on leading competitors with strategic analysis, micro and macro market trend and scenarios, pricing analysis and a holistic overview of the market situations in the forecast period. It is a professional and a detailed report focusing on primary and secondary drivers, market share, leading segments and geographical analysis. Further, key players, major collaborations, merger & acquisitions along with trending innovation and business policies are reviewed in the report.
Key Benefits for Industry Participants & Stakeholders:
Based on region, the market is segmented into North America, Europe, Asia Pacific, Latin America and Middle East & Africa (MEA). North America region is further bifurcated into countries such as U.S., and Canada. The Europe region is further categorized into U.K., France, Germany, Italy, Spain, Russia, and Rest of Europe. Asia Pacific is further segmented into China, Japan, South Korea, India, Australia, South East Asia, and Rest of Asia Pacific. Latin America region is further segmented into Brazil, Mexico, and Rest of Latin America, and the MEA region is further divided into GCC, Turkey, South Africa, and Rest of MEA.
We have studied the Durable Medical Equipment (DME) Market in 360 degrees via. both primary & secondary research methodologies. This helped us in building an understanding of the current market dynamics, supply-demand gap, pricing trends, product preferences, consumer patterns & so on. The findings were further validated through primary research with industry experts & opinion leaders across countries. The data is further compiled & validated through various market estimation & data validation methodologies. Further, we also have our in-house data forecasting model to predict market growth up to 2028.
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