10th October 2019 – Global Durable
Medical Equipment (DME) Market is estimated to reach USD 242.1 billion
by 2024 owing to the increasing prevalence of chronic diseases that require
long-term care. Durable medical equipment enable therapeutic benefits to a
patient arising out of medical condition or illness. DME are prescribed by a
physician to primarily serve medical purposes. They comprise wheelchairs,
traction equipment, hospital beds, crutches, canes, ventilators, pressure
mattresses, oxygen monitors, walkers, kidney machines, nebulizers, etc. which
are reusable and can also be appropriately used at home.
Durable medical equipment can be either
used alone or in combination with other equipment as well for safety,
monitoring and diagnosis of disease. They proficiently assist in recovering
health of large population across globe. The enhancement of medical equipment
technologies has improved diagnosis and treatments of patients. Earlier, where
the wheelchairs were operated manually, today powered wheelchairs are widely
replacing the manual ones.
Moreover, the growing demand for powered
wheelchairs and the modernizations in equipment are projected to stimulate the
growth of durable medical equipment (DME) industry in the years to come.
Furthermore, the emergence of transfer lifts and mobility scooters in automated
version is predicted to propel the growth of market significantly. These
benefits are allowing people to avail more reliable healthcare systems and
services which ultimately speed up their recovery chances.
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However, chronic diseases like neurological
diseases, cardiac diseases and cancers are considerably contributing to durable
medical equipment (DME) market. Along with the growing prevalence of chronic
diseases, diseases like diabetic foot, pressure ulcers & cancer that need
long-term patient care and postoperative recovery are expected to contribute
impressively to the market in the long-run.
As compared to the expensive hospital
stay, home healthcare is a comparatively economic option for patients today.
Therefore, patients prefer to opt post-operative recovery and long-term care at
home itself. The growing demand for home healthcare services open opportunities
for the DME market players to up sell and cross sell various equipment. Hence,
the explosion of home healthcare services has contributed comprehensively to
the durable medical equipment (DME) industry. Also, the increasing geriatric
population base worldwide is predicted to propel the industry in the forecast
period.
Durable medical equipment (DME) market
is categorized on the basis of equipment type, end-user, and geography. On the
basis of equipment type, the market is divided into bathroom safety devices,
personal mobility devices, monitoring and therapeutic devices and medical
furniture. Personal mobility devices segment is further divided into crutches
& canes, wheelchairs, walkers, etc.
Medical furniture is further classified
into medical beds, stretchers, lift chairs, mattress, etc. In terms of
end-user, durable medical equipment (DME) industry is segmented as hospitals,
ambulatory surgical centers, home care settings, long-term care centers, etc.
Hospital segment is projected to hold majority share of the market owing to
increasing number of hospitals and growing government initiatives for improving
the health care segment.
Geographically, the durable medical
equipment market is segmented into North America, Latin America, Asia Pacific,
Europe, and Middle East & Africa. Asia Pacific is predicted to hold larger
share of the market in the coming years due to the growing population in this
region and rising preference for invasive and non-invasive monitoring devices
like oxygen equipment and negative pressure wound therapy (NPWT) pumps.
Furthermore, the increasing number of
investments by governments of emerging economies to improve the healthcare
sector is also predicted to impact the market positively. The prominent durable
medical equipment (DME) industry players comprise Baxter International Inc.,
Stryker Corporation, Medtronicplc. Becton, Drive DeVilbiss Healthcare, Dickinson
and Company, Medline Industries, Inc., Invacare Corporation, Sunrise Medical
(US) LLC, ResMed, Inc., Medical Depot Inc., and Hill-Rom Holdings, Inc.
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