Global Durable Medical Equipment Market Analysis, Drivers, Restraints, Opportunities, Threats, Trends, Applications, and Growth Forecast to 2028
“Global Durable Medical Equipment Market Analysis Trends, Applications, Analysis, Growth, and Forecast to 2028” is a recent report generated by MarketResearch.biz. The global durable medical equipment market report has been segmented on the basis of device type, end user, and region.
Global Durable Medical Equipment Market: Overview
Durable medical equipment is also known as home medical equipment, which engaged in providing therapeutic benefits to patients.
Global Durable Medical Equipment Market: Dynamics
Increasing number of neurological and cardiovascular disorders cases is a major factor contributing to the revenue growth of the global durable medical equipment market across the globe. In addition, rising healthcare expenditure, growing aging population along with high penetration of home healthcare services are among some other factors, which are expected to drive revenue of the global durable medical equipment market over the forecast period. Moreover, ongoing technological advancements related to durable medical equipment is expected to fuel growth of the global market. Also, increasing coverage and reimbursement of durable medical equipment and related services especially in developing and developed countries, are some factors supporting expansion of the global market. Furthermore, supportive government initiatives to speed up approvals for manufacturers can create potential opportunity for growth of the market.
However, increasing adoption of minimally invasive surgeries and issues related to reimbursement against the purchase of DME are some factors may hamper growth of target market. In addition, reduction in the number of beds in public hospitals along with approval for the commercialization of specific DME and can obstruct growth of the market.
A recent trend observed in the target market is manufacturers are focusing to develop technologically advanced medical equipment that is easy to use and offers a cost-effective and accurate diagnosis for patients. This is further projected to drive growth of global market to a significant extent.
Global Durable Medical Equipment Market: Segment Analysis
Among the device type segments, the personal mobility devices segment is anticipated to account for major revenue contribution in the global market.
Among the end user segments, the hospital's segment is projected to register a significant growth rate over the forecast period.
Global Durable Medical Equipment Market: Regional Analysis
The market in North America is expected to dominate global durable medical equipment market in revenue terms, owing to favorable reimbursement policies and the presence of major medical devices manufacturers in countries in the region. In addition, the Food and Drug Administration (FDA) is responsible for regulating the sale of medical devices/products. According to a document published by US government-sponsored forum, the US is the largest medical device market in the world. It represents around 40% of the global medical device market. For instance, US-based Dynarex Corporation launched Gloves in a Bag and XeroBurn Burn Gel.
The market in Asia Pacific is projected to register fastest growth in terms of revenue in the global market, due to rising geriatric population and rising incidence of various cancer types. Moreover, the markets in Latin America and Middle East & Africa are projected to register moderate growth rate over the forecast period.
Global Durable Medical Equipment Market Segmentation:
Segmentation by Device Type:
- Personal Mobility Devices
- Medical Furniture and Bathroom Safety Devices
- Monitoring and Therapeutic Devices
Segmentation by End User:
- Specialty clinics
- Ambulatory Surgical Centers
- Diagnostic Centers
- Home Healthcare
Segmentation by Region:
- North America
- Asia Pacific
- Latin America
- Middle East & Africa
Particular Scope Region
- North America
- Rest of Europe
- Asia Pacific
- South Korea
- Rest of Asia Pacific
- Latin America
- Rest of Latin America
- Middle East and Africa
- South Africa
- Rest of Middle East and Africa
Actual Year 2019 Estimated Year 2020 Forecast Period 2020–2029 Revenue in US$
- Medtronic Inc.
- Stryker Corporation
- Becton, Dickinson and Company
- Baxter International, Inc.
- Sunrise Medical LLC
- Invacare Corporation
- Compass Health Brands
- GE Healthcare
- Getinge Ab
- GF Health Products Inc.
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