Durable Medical Equipment (DME) Market: Revenue Growth, Key Players, Qualitative Analysis, Quantitative Analysis, Forecast 2020-2030

The Durable Medical Equipment (DME) market is estimated to represent a global market of USD 178.6 billion by 2019 with growth rate of 6.8%.

Market Dynamics

Rising incidences of chronic diseases such as cancer, cardiovascular, neurological and respiratory disorders across the world drive the demand for durable medical equipment. For example, according to the Centers for Disease Control and Prevention (CDC), approximately 630,000 U.S. people (1 in every 4 death) die due to the cardiovascular problem every year. Additionally, as per the International Agency for Research on Cancer, around 14.1 million cancer cases were reported in 2012 and more than 32 million people are living with cancer worldwide.

In addition, strategic acquisitions and partnership with government and healthcare players in order to provide affordable healthcare will support the industry development significantly. For instance, in February 2019, Hill-Rom acquired Mortara Instrument, Inc., a Wisconsin-based medical device manufacturer to increase their medical device product portfolio. However, low reimbursement rates are one of the restraints, pulling back the market growth to some extent. For instance, Medicare, the U.S. government’s official health insurance program, consider only medically required durable equipment for reimbursement purpose.

Types Takeaway

In terms of types, the market is divided into Monitoring and Therapeutic Devices, Personal Mobility Devices, and Bathroom Safety Devices and Medical Furniture. In terms of value, monitoring and therapeutic devices accounted for the highest share of the overall market. This segment has captured more than 87% share of the global market in 2019. This product category is further bifurcated into Blood Glucose Monitors, Continuous Positive Airway Pressure (CPAP), Oxygen Equipment, Infusion Pumps, Continuous Passive Motion (CPM), and others. Estimated CAGR for these products during 2019-2021-2027 range between 6-8%, with the oxygen equipment witnessing the highest growth. Devices such as glucose monitors and CPM has experienced a high level of technological change which has helped this segment to capture the highest share compared to others. Personal mobility segment is further categorized as Scooters, Wheelchairs, Walker and Rollators, and others.

Cumulative Effect of COVID-19 Outbreak
The proposed report includes an additional chapter on the impact of COVID 19 on the Durable Medical Equipment (DME) market.This chapter will highlight various factors on how the Covid-19 is affecting this industry, market trends, future outlook and recovery analysis.

Request to Fill The Form To get Sample Copy of This Report: https://www.sdki.jp/sample-request-53289

Regional Takeaway

Regionally, developed regions such as North America and Europe accounted for the largest share of the global industry. Factors such as increasing obese & geriatric population, increasing demand for regular-monitoring devices by fitness-oriented citizens, and rising demand for independent living are expected to augment the regional growth. On contrary, lack of advancements has resulted in a scarcity of cost-effective medical equipment in developing regions such as Middle East & Africa. At present, there are a limited number of technologically advanced medical devices available, and that too in select pockets of the MEA countries. There is a huge gap between the needs of the consumer and what is available in the MEA market.

Key Vendor Takeaway

The competition in the global market has intensified over a couple of years on account of the entry of various small scale and large scale players. Companies namely Stryker Corporation, Invacare Corporation, Drive Medical, Carex Health Brands, Inc., and Medline Industries are actively engaged in developing innovative and new products. For instance, in February 2019, Invacare Corporation introduced high-active custom wheelchairs belonging to the küschall brand, namely, küschall Champion, küschall K-Series attract, and küschall Advance in the U.S. market to capture large customer base.

The market size and forecast for each segment has been provided for the period 2016 to 2027, considering 2019 as the base year. The report also provides the compounded annual growth rate (% CAGR) for the forecast period 2021 to 2027 for every reported segment.

The years considered for the study are:

Historical Year – 2016 to 2018
Base Year – 2019
Estimated Year – 2020
Projected Year – 2027

The proposed reports analyse and evaluates the COVID-19 Impact, and anticipated change on the future market scenario on this industry, by taking into the account the economic, political, technological, and social, parameters.

SCOPE OF THE REPORT

The scope of this report covers the market by its major segments, which include as follows:

DURABLE MEDICAL EQUIPMENT (DME) MARKET, BY TYPES
Monitoring and Therapeutic Devices
Personal Mobility Devices
Bathroom Safety Devices and Medical Furniture

DURABLE MEDICAL EQUIPMENT (DME) MARKET, BY END USE
Home Healthcare
Hospital Settings
Others

DURABLE MEDICAL EQUIPMENT (DME) MARKET, BY REGION
North America
U.S.
Canada
Europe
Germany
France
Rest of Europe
Asia Pacific
India
China
Rest of APAC
Rest of the World
Middle East and Africa
Latin America

The dynamic nature of business environment in the current global economy is raising the need amongst business professionals to update themselves with current situations in the market. To cater such needs, Shibuya Data Count provides market research reports to various business professionals across different industry verticals, such as healthcare & pharmaceutical, IT & telecom, chemicals and advanced materials, consumer goods & food, energy & power, manufacturing & construction, industrial automation & equipment and agriculture & allied activities amongst others.

For more information, please contact:Hina Miyazu

Shibuya Data Count
Email: sales@sdki.jp
Tel: + 81 3 45720790

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Christophe Rude

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