Durable Medical Equipment (DME) Market to Witness High Growth in Coming Years
Durable medical equipment (DME) can be defined as any equipment or device that is primarily beneficial for a patientís therapeutic use, in need of particular medical condition or illness, consisting of items which are not generally of any use to a patient in the devoid of medical condition, or illness.
[UKPRwire, Thu Oct 11 2018] Global Durable Medical Equipment Market: Overview
Durable medical equipment (DME) can be defined as any equipment or device that is primarily beneficial for a patientís therapeutic use, in need of particular medical condition or illness, consisting of items which are not generally of any use to a patient in the devoid of medical condition, or illness. Durable medical equipment (DME) must be reusable, subjected to withstand recurring use; can be ordered or prescribed by a physician; and its use is appropriate in the home care settings. Constant flow of innovations is the significant characteristic of medical equipment technologies that are results of high quality research, development and clinical investigation of these durable medical equipment (DME) through intensive clinical trials and studies. According to the research report, the global durable medical equipment market was valued at US$112.30 mn in 2016 and is expected to reach US$228.65 mn by the end of 2025. During the forecast period of 2017 and 2025, the global market is expected to rise at a CAGR of 8.3%.
Bathroom Safety Devices to Lead Global DME Market as Users Focus on Averting Injuries at Home
The global durable medical equipment (DME) market is classified into three categories, namely by equipment type, by end-user and by region. By equipment type, the durable medical equipment (DME) market is categorized in to, monitoring and therapeutic devices, bathroom safety devices, personal mobility devices, and medical furniture. Personal mobility devices segment is further segmented into wheelchairs, crutches & canes, walkers, and others. Medical furniture is further segmented into medical beds, mattress, stretchers, lift chairs, and others.
Bathroom safety devices consists of commodes, toilet rails/frames, and others, while monitoring and therapeutic devices consists of blood glucose monitors, oxygen equipment, vital sign monitors, infusion pumps, and others. Monitoring and therapeutic devices segment is expected to grow at the fastest pace during the forecast period, owing to rising proportions of patients with diabetes and consequently, growing urgency in developing therapeutic interventions for such disorders. Bathroom safety devices segment is also anticipated to exhibit a remarkable growth owing to the rising incidence of trauma injuries, sports injuries, road accidents, and diseases such as respiratory, oral, orthopedic, and cardiovascular diseases, thus increasing demand for technologically advanced bathroom safety devices for safety and comfort .
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Hospitals to Remain Key End Users of Durable Medical Equipment during Forecast Period
Based on end-users, global durable medical equipment (DME) market is further segmented into five types, viz. hospitals, long-term care centers, ambulatory surgical centers, home care settings, and others. Hospital segment held majority share of the overall global durable medical equipment (DME) market by end-user type in 2016, owing to rising number of hospitals and growing government support for improving the health care sector. The increasing investment in the healthcare sector of emerging economies is also projected to stoke the demand for durable medical equipment in the forthcoming years. The report also highlights that the growing instances of homecare are also expected to drive the demand for durable medical equipment in such settings.
Asia Pacific Projected to Lead Global DME Market as Healthcare Sector Prospers
On the basis of geography, the overall durable medical equipment (DME) market is segmented into, Asia Pacific, Europe, Middle East and Africa, Latin America, and North America. The North America durable medical equipment (DME) market held majority of the market share, followed by Europe in 2016. Asia Pacific is anticipated to be the growing region globally, due to rising incidence of cancer, aging population, and rising preference for invasive as well as non-invasive monitoring devices such as negative pressure wound therapy (NPWT) pumps, and oxygen equipment among others. Furthermore, the growing number of investments by governments of developing economies to better the healthcare sector is also expected to have a positive influence on this regional market.
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The global durable medical equipment (DME) market comprises of players such as Stryker Corporation, Baxter International, Inc. Medtronic plc., Becton, Dickinson and Company, Medline Industries, Inc., Invacare Corporation, Sunrise Medical (US) LLC, ResMed, Inc., Drive DeVilbiss Healthcare, Inc. (Medical Depot Inc.) Hill-Rom Holdings, Inc., and other prominent players.