Durable Medical Equipment (DME) Market Insights, Competitive Landscape and Forecast Report to 2024
30th Nov 2020 - Global Durable Medical Equipment (DME) Market is estimated to reach USD 242.1 billion by 2024 owing to the increasing prevalence of chronic diseases that require long-term care. Durable medical equipment enable therapeutic benefits to a patient arising out of medical condition or illness. DME are prescribed by a physician to primarily serve medical purposes. They comprise wheelchairs, traction equipment, hospital beds, crutches, canes, ventilators, pressure mattresses, oxygen monitors, walkers, kidney machines, nebulizers, etc. which are reusable and can also be appropriately used at home.
Durable medical
equipment can be either used alone or in combination with other equipment as
well for safety, monitoring and diagnosis of disease. They proficiently assist
in recovering health of large population across globe. The enhancement of
medical equipment technologies has improved diagnosis and treatments of
patients. Earlier, where the wheelchairs were operated manually, today powered
wheelchairs are widely replacing the manual ones.
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Moreover, the growing
demand for powered wheelchairs and the modernizations in equipment are
projected to stimulate the growth of durable medical equipment (DME) industry
in the years to come. Furthermore, the emergence of transfer lifts and mobility
scooters in automated version is predicted to propel the growth of market
significantly. These benefits are allowing people to avail more reliable
healthcare systems and services which ultimately speed up their recovery
chances.
However, chronic
diseases like neurological diseases, cardiac diseases and cancers are
considerably contributing to durable medical equipment (DME) market. Along with
the growing prevalence of chronic diseases, diseases like diabetic foot,
pressure ulcers & cancer that need long-term patient care and postoperative
recovery are expected to contribute impressively to the market in the long-run.
As compared to the
expensive hospital stay, home healthcare is a comparatively economic option for
patients today. Therefore, patients prefer to opt post-operative recovery and
long-term care at home itself. The growing demand for home healthcare services
open opportunities for the DME market players to up sell and cross sell various
equipment. Hence, the explosion of home healthcare services has contributed
comprehensively to the durable medical equipment (DME) industry. Also, the
increasing geriatric population base worldwide is predicted to propel the
industry in the forecast period.
Durable medical
equipment (DME) market is categorized on the basis of equipment type, end-user,
and geography. On the basis of equipment
type, the market is divided into bathroom safety devices, personal mobility
devices, monitoring and therapeutic devices and medical furniture. Personal
mobility devices segment is further divided into crutches & canes,
wheelchairs, walkers, etc.
Medical furniture is
further classified into medical beds, stretchers, lift chairs, mattress, etc.
In terms of end-user, durable medical equipment (DME) industry is segmented as
hospitals, ambulatory surgical centers, home care settings, long-term care
centers, etc. Hospital segment is projected to hold majority share of the
market owing to increasing number of hospitals and growing government
initiatives for improving the health care segment.
The prominent durable medical equipment (DME) industry players
comprise Baxter International Inc., Stryker
Corporation, Medtronicplc. Becton, Drive DeVilbiss Healthcare, Dickinson and
Company, Medline Industries, Inc., Invacare Corporation, Sunrise Medical (US)
LLC, ResMed, Inc., Medical Depot Inc., and Hill-Rom Holdings, Inc.
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Durable Medical Devices Regional Outlook (Revenue, USD Million, 2013 -
2024)
• North America
• U.S.
• Canada
• Europe
• UK
• Germany
• Asia Pacific
• Japan
• China
• Latin America
• Brazil
• Mexico
• MEA
• South Africa
• Saudi Arabia
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