Global Durable Medical Equipment Market, By Device Type (Personal Mobility Devices, Medical Furniture, Monitoring and Therapeutic Devices, Bathroom Safety Devices), End-User (Hospital/Clinic, Ambulatory Surgical Center, Research Centers, Home Healthcare, Others), Payer (Public, Private, Out-of-Pocket), Country (U.S., Canada, Mexico, Germany, Italy, U.K., France, Spain, Netherlands, Belgium, Switzerland, Turkey, Russia, Rest of Europe, Japan, China, India, South Korea, Australia, Singapore, Malaysia, Thailand, Indonesia, Philippines, Rest of Asia- Pacific, Brazil, Argentina, Rest of South America, South Africa, Saudi Arabia, UAE, Egypt, Israel, Rest of Middle East & Africa) Industry Trends and Forecast to 2028.
Market Analysis and Insights : Global Durable Medical Equipment Market
The durable medical equipment market is expected to gain market growth in the forecast period of 2021 to 2028. Data Bridge Market Research analyses the market to reach at an estimated value of 176.66 USD billion and grow at a CAGR of 5.84% in the above-mentioned forecast period. Rising patient preference for home-based care drives the durable medical equipment market.
Medical equipment is classified into two types which includes disposable medical equipment and durable medical equipment. Durable medical equipment is reusable and can also be used for the long run. The medical devices such as ostomy bags, insulin pump, and hospital furniture are considered under durable medical equipment and are used for years.
Increasing prevalence of chronic diseases across the globe is the vital factor escalating the market growth, also rising geriatric population base throughout the globe, rising technological advancements in the medical equipment, rising number of neurological and cardiovascular disorders cases, rising healthcare expenditure and rising penetration of home healthcare services are the major factors among others driving the durable medical equipment market. Moreover, rising technological advancements and modernization in the production of paracetamol, rising research and development activities in the healthcare sector and rising emerging markets with increasing geriatric population base will further create new opportunities for the durable medical equipment market in the forecasted period of 2021-2028.
However, rising adoption of minimally invasive surgeries and issues related to reimbursement against the purchase of DME are the major factors among others which will obstruct the market growth, while increasing reduction in the number of beds in public hospitals along with approval for the commercialization of specific DME will further challenge the growth of the durable medical equipment market in the forecast period mentioned above.
The durable medical equipment market report provides details of new recent developments, trade regulations, import export analysis, production analysis, value chain optimization, market share, impact of domestic and localised market players, analyses opportunities in terms of emerging revenue pockets, changes in market regulations, strategic market growth analysis, market size, category market growths, application niches and dominance, product approvals, product launches, geographic expansions, technological innovations in the market. To gain more info on the durable medical equipment market contact Data Bridge Market Research for an Analyst Brief, our team will help you take an informed market decision to achieve market growth.
Durable Medical Equipment Market Scope and Market Size
The durable medical equipment market is segmented on the basis of device type, end-user and payer. The growth amongst these segments will help you analyse meagre growth segments in the industries, and provide the users with valuable market overview and market insights to help them in making strategic decisions for identification of core market applications.
- On the basis of device type, the durable medical equipment market is segmented into personal mobility devices, medical furniture, monitoring and therapeutic devices, and bathroom safety devices.
- Based on end-user, the durable medical equipment market is segmented into hospital/clinic, ambulatory surgical center, research centers, home healthcare and others.
- The durable medical equipment market is also segmented on the basis of payer into public, private and out-of-pocket.
Durable Medical Equipment Market Country Level Analysis
The durable medical equipment market is analysed and market size insights and trends are provided by country, device type, end-user and payer as referenced above.
The countries covered in the durable medical equipment market report are U.S., Canada and Mexico in North America, Germany, France, U.K., Netherlands, Switzerland, Belgium, Russia, Italy, Spain, Turkey, Rest of Europe in Europe, China, Japan, India, South Korea, Singapore, Malaysia, Australia, Thailand, Indonesia, Philippines, Rest of Asia-Pacific (APAC) in the Asia-Pacific (APAC), Saudi Arabia, U.A.E, South Africa, Egypt, Israel, Rest of Middle East and Africa (MEA) as a part of Middle East and Africa (MEA), Brazil, Argentina and Rest of South America as part of South America.
North America dominates the durable medical equipment market due to rising presence of leading manufacturers and quick adoption of advanced products, growing geriatric population and rising technological advancements in the medical equipment in this region. Asia-Pacific is the expected region in terms of growth in the durable medical equipment market due to rising supportive government initiatives and increasing prevalence of chronic diseases in this region.
The country section of the durable medical equipment market report also provides individual market impacting factors and changes in regulation in the market domestically that impacts the current and future trends of the market. Data points such as consumption volumes, production sites and volumes, import export analysis, price trend analysis, cost of raw materials, down-stream and upstream value chain analysis are some of the major pointers used to forecast the market scenario for individual countries. Also, presence and availability of global brands and their challenges faced due to large or scarce competition from local and domestic brands, impact of domestic tariffs and trade routes are considered while providing forecast analysis of the country data.
Healthcare Infrastructure growth Installed base and New Technology Penetration
The durable medical equipment market also provides you with detailed market analysis for every country growth in healthcare expenditure for capital equipment’s, installed base of different kind of products for the durable medical equipment market, impact of technology using life line curves and changes in healthcare regulatory scenarios and their impact on the durable medical equipment market. The data is available for historic period 2010 to 2019.
Competitive Landscape and Durable Medical Equipment Market Share Analysis
The durable medical equipment market competitive landscape provides details by competitor. Details included are company overview, company financials, revenue generated, market potential, investment in research and development, new market initiatives, global presence, production sites and facilities, production capacities, company strengths and weaknesses, product launch, product width and breadth, application dominance. The above data points provided are only related to the companies’ focus related to the durable medical equipment market.
The major players covered in the durable medical equipment market report are GENERAL ELECTRIC COMPANY, Compass Health Brands, Getinge AB, GF HEALTH PRODUCTS, IN, Medtronic, Invacare Corporation, Sunrise Medical, Koninklijke Philips N.V., Medline Industries, Inc., Masimo, Arjo, Hill-Rom Services, Inc, Stryker Corporation, Medical Device Depot Inc, BD, Baxter. And Medical Depot, Inc among other domestic and global players. Market share data is available for Global, North America, Europe, Asia-Pacific (APAC), Middle East and Africa (MEA) and South America separately. DBMR analysts understand competitive strengths and provide competitive analysis for each competitor separately.