November 28, 2019
According to the latest study titled ‘Global Durable Medical Equipment (DME) Market By Type (Personal Mobility devices, Therapeutic and Monitoring Devices, Medical Furniture, Others), By Therapeutic and monitoring Devices Type (Oxygen Equipment, Blood Sugar Monitors, Continuous Passive Motions, Nebulizers Other Devices ), By End User(Hospitals and Clinics, Long Term Care Services, Home Care Services, Ambulatory Surgical Centers, Others ), By Region, By Country (2018 Edition) - Forecast to 2023’ available with Market Study Report LLC, the global durable medical equipment (DME) market is estimated to grow with a CAGR of 6.14% through the year 2023.
Durable medical equipment is a medical equipment used in the home to aid better quality of living. Factors such as increasing geriatric population, along with rising occurrence of chronic disorders such as cancer and cardiovascular disorders are driving the growth of durable medical equipment market.
The study encompasses details about revenue shares for each segment, alongside the expansion strategies adopted by manufacturers. Thorough insight regarding challenges, drivers, trends, and restraints impacting the market growth is also given. The report also analyzes the competitive landscape of DME market using SWOT analysis and Porter’s Five Force analysis methods.
Based on type, durable medical equipment market is segmented into therapeutic & monitoring devices, personal mobility devices, medical furniture, and others. The report cites that therapeutic & monitoring segment will encounter noteworthy growth over the forecast period, pertaining to rising prevalence of chronic disorders, higher healthcare expenditures, and improving disposable incomes. Moreover, the therapeutic & monitoring devices segment includes blood sugar monitors, oxygen equipment, nebulizers, continuous passive motions, and others.
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While speaking of end user spectrum, the industry is split into long term care services, hospitals & clinics, ambulatory surgical centers, home care services, and others. Considering the regional landscape, the global durable medical equipment market is bifurcated into regions including Europe, North America, APAC, and rest of world. North America dominated the durable medical equipment market in 2018, owing to rising number of home care service providers, along with increasing number of hospital beds across the region.
Some of the vendors that operate in the global durable medical equipment market are Sunrise Medical, Invacare, Medline Inc., The Braun Corporation, Stryker Corporation, Permobil AB, Medtronic, and McKesson.
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