Wilmington, Delaware, United States, Nov. 03, 2022 (GLOBE NEWSWIRE) -- Transparency Market Research Inc. – Growing number of government authorities and committees, as well as private organizations are launching various programs and initiatives to offer financial support for manufacturers in the medical devices sector. As a result, medical device manufacturers, such as producers of blood pressure monitoring devices, are increasing their investments in research and development to manufacture enhanced diagnostic and technologically advanced medical devices. This trend is anticipated to bolster growth within the global durable medical equipment (DME) market. According to a business intelligence study, the global durable medical equipment (DME) market is most likely to register a CAGR of 6.2% during the forecast period of 2019 to 2027.
Growth within the global durable medical equipment (DME) market is also driven by increasing demand from home healthcare setting. This trend is prominently driven by decrease in the lengths of hospital shifts. Furthermore, the emergence of various innovative solutions, including supportive medical treatment devices, as well as long-term healthcare assistance products such as post-surgical recovery solutions, is also boding well for growth within the global durable medical equipment (DME) market.
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Durable Medical Equipment (DME) Market – Key Findings of the Report
- Growth in the Number of Individuals with Disabilities: Increase in the number of individuals living with one or more types of disabilities is anticipated to boost demand for various types of products in the global durable medical equipment (DME) market. These include mobility devices, crutches, monitoring devices, walkers, wheelchairs, canes, and therapeutic devices. Furthermore, shifting lifestyles of consumers and increasingly hectic schedules are also expected to propel demand for hospital, as well as rehab treatments. This trend is also predicted to bode well for expansion of the global durable medical equipment (DME) market in coming years.
- Increase in Government Preventive Healthcare Initiatives: Over the next few years, growth in the global durable medical equipment (DME) market is anticipated to be driven by considerable increase in the incidence of government initiatives for preventive healthcare programs. For example, an initiative by the United States Department of Health and Human Services, along with Centers for Medicaid Services and Medicare, as well as the Centers for Disease Control and Prevention, called Million Hearts. This initiative is aimed at achieving control rates of hypertension above 70% by using enhanced patient communication, innovative new health information technologies, and electronic health records. Initiatives such as these are expected to propel demand within the global durable medical equipment (DME) market in coming years.
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Durable Medical Equipment (DME) Market – Growth Drivers
- Growth in funding, as well as rising acceptance of these solutions in home care setting drives growth within the global durable medical equipment (DME) market
- Increasing preventive healthcare initiatives by governments across the world propel demand within the market
- Increase in the number of individuals across the globe, living with one or more types of disabilities boosts demand within the global durable medical equipment (DME) market
Durable Medical Equipment (DME) Market – Key Players
Some of the key companies operating within the global durable medical equipment (DME) market include Medtronic PLC, BD, Drive DeVilbiss Healthcare, Inc., Sunrise Medical (US) LLC, Styker Corporation, Medline Industries, Inc., Hill-Rom Holdings, Inc., Invacare Corporation, and ResMed, Inc. The landscape of global durable medical equipment (DME) market is extremely fragmented in nature, owing to the presence of a large number of local, as well as multi-national players. These players are focused on adopting several growth strategies, including developing and launching technologically advanced products, collaborations and strategic agreements, gaining regulatory approvals, and mergers and acquisitions.
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Durable Medical Equipment (DME) Market: Segmentation
Durable Medical Equipment (DME) Market, by Equipment Type
- Personal Mobility Devices
- Wheelchairs
- Crutches & Canes
- Walkers
- Others
- Bathroom Safety Devices
- Commodes
- Toilet Rails/Frames
- Others
- Medical Furniture
- Medical Beds
- Mattress
- Stretchers
- Lift Chairs
- Others
- Monitoring and Therapeutic Devices
- Blood Glucose Monitors
- Oxygen Equipment
- Vital Sign Monitors
- Infusion Pump
- Others
Durable Medical Equipment (DME) Market, by End User
- Hospitals
- Long-term Care Centers
- Ambulatory Surgical Centers
- Home Care Settings
- Others
Durable Medical Equipment (DME) Market, by Region
- North America
- US
- Canada
- Europe
- UK
- Germany
- France
- Italy
- Spain
- Rest of Europe
- Asia Pacific
- China
- Japan
- India
- Australia & New Zealand
- Rest of Asia Pacific
- Latin America
- Brazil
- Mexico
- Rest of Latin America
- Middle East and Africa
- South Africa
- GCC Countries
- Israel
- Rest of Middle East & Africa
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