Durable Medical Equipment Market Analysis Based On Product, End-Use, And Region
Durable Medical Equipment Industry Overview
The global durable medical equipment market size was valued at USD 196.4 billion in 2021 and is anticipated to expand at a CAGR of 5.9% over the forecast period. The COVID-19 pandemic has disrupted the operations and financial liquidity of market players. The growing incidence of cancer, cardiac disorders, neurological conditions, and gynecological complications is likely to drive the product demand during the forecast period. The COVID-19 pandemic had disrupted the supply chain of durable medical equipment (DME) due to the lockdown imposed by the government. The supply chain interruptions have occurred for items such as oxygen equipment, CPAPs and RADs, and nebulizers. The storage of the supply has created complications for the high-risk patients which has further increased the overall demand for the products in the market.
Durable medical equipment helps improve accessibility to perform the task in daily living. DME is covered under Medicare but does not cover disposable items. Medicare Part-B beneficiaries pay 20% of the approved cost of the product and the remaining 80% is paid by Medicare. Better coverage and reimbursement policies for DME products are also likely to help boost the DME market growth. In addition, the rising number of elderly care centers as a result of the increasing geriatric population base across the globe is projected to drive the DME market further.
Gather more insights about the market drivers, restrains and growth of the Global Durable Medical Equipment market
Elderly people have low immunity levels and thus, are prone to skeletal, cardiac, and neurological problems, which increases the need for long-term care and recovery. This, in turn, is estimated to augment the demand for DME products over the coming years. According to the UN data published in 2017, the population aged 60+ years was around 960 million, which accounted for 13.0% of the global population. Durable medical equipment plays an important role in long-term care after surgery at home or any other healthcare setting. This is also estimated to propel market growth. On the other hand, stringent regulatory guidelines in developed economies and the lack of skilled professionals for this equipment are said to hinder the industry growth.
Browse through Grand View Research's Medical Devices Industry Research Reports.
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Durable Medical Equipment Market Segmentation
Grand View Research has segmented the durable medical equipment market based on product, end-use, and region:
Durable Medical Equipment Product Outlook (Revenue, USD Million; 2018 - 2030)
- Personal Mobility Devices
- Wheelchairs
- Scooters
- Walker And Rollators
- Cranes And Crutches
- Door Openers
- Other Devices
- Bathroom Safety Devices And Medical Furniture
- Commodes And Toilets
- Mattress And Bedding Devices
- Monitoring And Therapeutic Devices
- Blood Glucose Monitors
- Continuous Passive Motion (CPM)
- Infusion Pumps
- Nebulizers
- Oxygen Equipment
- Continuous Positive Airway Pressure (CPAP)
- Suction Pumps
- Traction Equipment
- Others Equipment
Durable Medical Equipment End-use Outlook (Revenue, USD Million; 2018 - 2030)
- Hospital
- Nursing Homes
- Home Healthcare
- Other End-user
Durable Medical Equipment Regional Outlook (Revenue, USD Million; 2018 - 2030)
- North America
- Europe
- Asia Pacific
- Latin America
- Middle East & Africa (MEA)
Market Share Insights:
- December 2021: Baxter completed the acquisition of Hillrom. The acquisition is likely to enhance the efficiencies across care settings and help improve care outcomes.
Key Companies profiled:
Some of the prominent players in the global durable medical equipment market include:
- Invacare Corporation
- ArjoHuntleigh
- Stryker Corporation
- Hill Rom, Inc.
- Drive Medical
- GF Health Products, Inc.
- Sunrise Medical
- Medline Industries
- Hill Rom, Inc.
- Carex Health Brands, Inc
- Becton, Dickinson and Company
- General Electric Company
- Medtronic PLC
- Compass Health Brands
- Getinge AB
- Resmed Inc.
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