Global durable medical equipment (DME) market is anticipated to reach USD 246.6 billion by 2026, according to the latest research available at Market Study Report LLC, report provides extensively data on market share, growth, trends and forecasts for the period 2017-2026.
Durable medical equipment provides several lucrative benefits to patients suffering with various medical conditions or/and illnesses. The DME are reusable and can also be used at home for medical purposes.
According to the report, the technological developments in medical devices are the primary drivers responsible for augmenting the durable equipment market worldwide. The progression in durable equipment technology helps medical professionals in accurate treatment diagnosis. For instance, in the past, urine had been the primary testing factor for diagnosing blood sugar levels. Presently though, the emergence of blood glucose strips has made blood sugar level detection extremely easy.
The report also cites that the surging global geriatric population also augments the demand for DME. Elderly individuals are highly susceptible to chronic diseases requiring extensive care. As per the WHO, the number of individuals aged 60 or more is anticipated to reach 1.5 Bn by the year 2050. The WHO also claims that between 2015-2050, the proportion of worldwide population exceeding 60 years will be almost doubled – from 12 percent to 22 percent.
As per the report, the worldwide DME market is fragmented based on the end user, region, and device type. With respect to device type, the market is further divided into therapeutic and monitoring devices, medical furniture and bathroom safety devices, and personal mobility devices. Sub-segments of the therapeutic and monitoring devices market include nebulizers, infusion pumps, oxygen equipment, blood glucose monitors, and other devices. DME market from therapeutic and monitoring devices is predicted to grow at a high rate during the estimated period. The personal mobility devices market segment is split into scooters, walker and rollators, door openers, wheelchairs, and other devices. This segment is anticipated to hold a major share of the global market in 2017. The Medical furniture & bathroom safety devices market is segmented into commodes & toilets, and bedding & mattresses devices.
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Based on the end user landscape, the report bifurcates the global durable medical equipment market into hospitals, specialty clinics, home healthcare, ambulatory surgical centers, diagnostic centers, and others. The hospital segment is projected to hold a significant share of the global market in the foreseeable years. This growth can be attributed to the easy availability of these equipments in hospitals.
Speaking of regional proliferation, the durable medical equipment market is fragmented into five major regions, Latin America, Middle East& Africa, Asia Pacific, Europe, and North America. The North America market is projected to account for a considerable share in the global market during the forecast period. The Asia Pacific market is anticipated to grow at a high CAGR during the projected timeframe, cites the latest study.
The key players profiled in the durable medical equipment business sphere include Hill-Rom Holdings, Inc., ResMed, Inc., Invacare Corporation, Sunrise Medical (US) LLC, Dickinson and Company, Becton, Medline Industries, Inc., Baxter International, Inc., Medtronic plc., Stryker Corporation, among other players.