December 05, 2019
According to the new research report available at MarketStudyReport.com under the title ‘Durable Medical Equipment Market to 2027 - Global Analysis and Forecasts by Device Type (Personal Mobility Devices and Monitoring & Therapeutic Devices), End User (Hospitals & Clinics, Ambulatory Care Centers and Home Healthcare) and Geography’, the worldwide durable medical equipment market is anticipated to accumulate US $291.53 billion by the year 2027.
Durable medical equipment market has been registering decent growth over the recent past on account of rising occurrence of chronic diseases, growing elderly population, and increasing incidents of road accidents across the globe. Improved awareness regarding the availability of various products, rising medical expenditure, and numerous medical advancements will further augment the market outlook.
However, high cost of procedures and therapeutic products, along with social stigma linked with the use of walking crutches and canes may restrict the market growth. The utilization of assistive devices has been measured as an inability to operate specific physical activities. Some individuals, mostly the younger age group, suffer from loss of confidence in using walking aids like crutches and canes. Hence, connected stigma is predicted to hamper durable equipment market growth over the forecast timeframe.
As per the report, durable medical equipment market was worth US $170.89 billion in 2018 and is presumed to grow with a CAGR of 6.5% over the analysis timeline, hence reaching US $291.53 billion by the year 2027.
The worldwide durable medical equipment market is examined on the basis of type, end user spectrum, and geographical landscape. Based on the type, the market is segmented as monitoring & therapeutic devices and personal mobility devices. While, considering the end-use spectrum, the market is fragmented as clinics & hospitals, home healthcare, and ambulatory surgical centers.
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Speaking of geographical landscape, durable medica equipment market is divided into five main regions which include North America, Asia Pacific, Europe, Middle East & Africa, and Central & South America.
The key players operating in durable medical equipment market profiled in the report are Medline Industries, Inc., Hillrom Services, Inc., GF Health Products, Inc., Medical Depot, Inc., Medtronic, Invacare Corporation, Resmed, Inc., Sunrise Medical (US) LLC, Koninklijke Philips N.V., and BD among others.
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