Durable Medical Equipment (DME) Market Size, Industry Analysis Report, Regional Outlook, Application Development Potential, Price Trends, Competitive Market Share & Forecast, 2019 – 2025
Report ID: GMI3894
Durable Medical Equipment (DME) Market size is projected to experience significant growth from 2019 to 2025.
Durable medical equipment market is expected to witness significant growth due to increasing number of people suffering from chronic conditions such as cancer, diabetes and others over the forecast period. Rising elderly population base along with increasing number of hospitalizations will stimulate durable medical equipment market growth over the coming years. According to Centers of Disease Control and Prevention (CDC) 2017 data, the overnight hospital stays in the U.S. accounts for 7.6%.
Nearly 27.5 million people globally will suffer from cancer by 2040, as per The American Cancer Society statistics. Growing adoption of sedentary lifestyle, unhealthy diet and interrelated activities such as tobacco smoking, alcohol consumption has triggered rise in cardiovascular diseases and obesity prevalence stimulating demand for long term care fueling the industry growth.
The increasing prevalence of paralysis will favor growth of durable medical equipment as paralysis demands long term care and treatment. Rise in stroke, spinal cord injury, head injury and multiple sclerosis should stimulate paralysis occurrence. According to WHO, around 500,000 people suffer from spinal cord injury annually.
Elderly people are more likely to suffer from chronic conditions such as cancer, diabetes and others demanding for long term care and treatment. Hence growing geriatric population base will act as primary driver for durable medical equipment market over the forecast timeframe.
Based on the product, the industry can be segmented into personal mobility devices, monitoring and therapeutic devices and bathroom safety devices along with medical furniture. Monitoring and therapeutic devices will witness significant growth over the forecast period. The growing demand for home healthcare products coupled with rising awareness about early disease diagnosis will drive monitoring and therapeutic devices market growth. Easy operative nature and cost effectiveness of monitoring devices will positively impact industry growth.
Hospital segment dominated the durable medical equipment market in 2016 due to availability of skilled professionals and equipment at hospitals along with favorable reimbursement policies. The rising healthcare awareness and growing demand for low cost portable home healthcare medical devices will drive home healthcare market during the forecast timeframe.
U.S. will witness significant growth over the forecast period due to rising incidences of cardiovascular, neurological, ophthalmic, gynecological and cancer conditions. As per The American Diabetes Association 2017 report, around 30.3 million people nearly 9.4% of total U.S. population suffered from diabetes in 2015. Rising elderly population and growth of home healthcare sector will fuel U.S. durable medical equipment market over the forecast years.
Germany durable medical equipment market will by driven by high technological adoption, rising awareness about early disease diagnosis such as cancer screening and growing demand for cost effective disease monitoring devices. Well-developed healthcare infrastructure, availability of high disposable income and increasing chronic disease prevalence will stimulate Germany durable medical equipment market growth.
Soaring geriatric population base prone to suffer from several chronic disorders requiring long term care will act as primary driver for China durable medical equipment market. As per The American Cancer Society, cancer was the leading cause of mortality in China in the year 2015.Growing adoption of sedentary lifestyle and interrelated activities such as tobacco smoking has led to rise in chronic disease occurrence including cardiovascular disease and cancer. Increasing healthcare spending and healthcare infrastructure development will positively impact business growth.
Some of the industry players include, Stryker, Sunrise Medical, Hill-Rom, Medline Industries, GF Health Products, Invacare Corporation, ArjoHuntleigh, Medical Device Depot, and Carex Health Brands. Merger and acquisitions, strategic collaboration and agreement are key strategies followed by industry players. Durable medical equipment market witnesses’ frequent product launches and technology advancements. In May 2017, Invacare introduced ‘Outcomes by Design’ program designed for enhancing post-acute care facilities delivered to patients in order to improve financial, clinical and patient satisfaction outcomes.
Durable Medical Device Market by Product, 2014-2025 (USD Million)
- Personal Mobility Devices
- Monitoring and Therapeutic Devices
- Blood Glucose Monitor
- Oxygen Equipment
- Vital Sign Monitors
- Infusion Pumps
- Bathroom Safety Devices
- Medical Furniture
Durable Medical Device Market by End-use, 2014-2025 (USD Million)
- Home Healthcare
- Ambulatory surgical centers
The above information is provided for the following regions and countries:
- North America
- Asia Pacific
- Latin America
- Middle East and Africa
- Saudi Arabia
- South Africa
- Sunrise Medical
- Medline Industries
- GF Health Products
- Invacare Corporation
- Medical Device Depot
- Carex Health Brands
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