New York, June 01, 2023 (GLOBE NEWSWIRE) -- Reportlinker.com announces the release of the report "Durable Medical Equipment Global Market Report 2023" - https://www.reportlinker.com/p06464211/?utm_source=GNW
, Drive Medical, Masimo Corporation, Becton Dickinson and Company, Getinge AB, Medtronic PLC, Nihon Kohden Corporation, Mindray Medical International Limited, and ArjoHuntleigh.
The global durable medical equipment market is expected to grow from $193.62 billion in 2022 to $208.10 billion in 2023 at a compound annual growth rate (CAGR) of 7.5%. The Russia-Ukraine war disrupted the chances of global economic recovery from the COVID-19 pandemic, at least in the short term. The war between these two countries has led to economic sanctions on multiple countries, a surge in commodity prices, and supply chain disruptions, causing inflation across goods and services and affecting many markets across the globe. The durable medical equipment market is expected to reach $265.87 billion in 2027 at a CAGR of 6.3%.
The durable medical equipment market consists of sales of wheelchairs, scooters, walkers, and rollators.Values in this market are ‘factory gate’ values, that is the value of goods sold by the manufacturers or creators of the goods, whether to other entities (including downstream manufacturers, wholesalers, distributors, and retailers) or directly to end customers.
The value of goods in this market includes related services sold by the creators of the goods.
Durable medical equipment (DME) refers to any medical device or supplies that are necessary to maintain a person’s health and can be used on a long-term basis. These are ordered by a doctor, a qualified nurse practitioner, a physician assistant, or a clinical nurse specialist for for a patient’s routine, long-term use..
North America was the largest region in the durable medical equipment market in 2022. The regions covered in the durable medical equipment market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East and Africa.
The main durable medical equipment product types are personal mobility devices, bathroom safety devices and medical furniture, monitoring and therapeutic devices, and others.Personal mobility devices refer to medical devices that assist walking and improve the mobility of people with physical and mobility impairments.
The various payer modes are public, private, and out-of-pocket. The durable medical equipment are used in hospitals, nursing homes, home healthcare, and others.
The rise in the aging population is expected to propel the growth of the durable medical equipment market going forward.An aging population refers to an increase in the number of older people due to changes in the age composition of a population.
The aging population most commonly experiences aging-associated diseases that require the assistance of durable medical equipment like blood glucose analyzers, vital sign monitors, infusion pumps, nebulizers, and others on a long-term basis.Therefore, the rise in the aging population is driving the growth of the durable medical equipment market.
For instance, in January 2023, according to the United Nations, a US-based intergovernmental organization that maintains international peace and security, the population aged 65 years or older across the globe is expected to increase from 761 million in 2021 to 1.6 billion in 2050. Therefore, the rise in the aging population is driving the growth of the durable medical equipment market.
Technological advancements are a key trend gaining popularity in the durable medical equipment market.Major companies operating in the durable medical equipment market are adopting new technologies to strengthen their position in the market.
For instance, in March 2023, Dexcom, a US-based developer, manufacturer, producer, and distributor of continuous glucose monitoring systems, launched Dexcom G6 CGM System for all eligible patients with type 1 and type 2 diabetes in Canada. A small, wearable sensor and transmitter are used in this system to measure and send glucose levels wirelessly to a smart device continuously.
In December 2022, Atlas Copco, a Sweden-based industrial tools and equipment manufacturing company, acquired Shandong Meditech Medical Technology for an undisclosed amount.Through this acquisition, Atlas strengthens its offering and expertise and aims to increase its presence in the healthcare market, the world’s largest oxygen market.
Meditech Equipment Co. Ltd. is a China-based company that manufactures medical equipment and oxygen generators.
The countries covered in the durable medical equipment market report are Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK, USA.
The market value is defined as the revenues that enterprises gain from the sale of goods and/or services within the specified market and geography through sales, grants, or donations in terms of the currency (in USD, unless otherwise specified).
The revenues for a specified geography are consumption values that are revenues generated by organizations in the specified geography within the market, irrespective of where they are produced. It does not include revenues from resales along the supply chain, either further along the supply chain or as part of other products.
The durable medical equipment market research report is one of a series of new reports that provides durable medical equipment market statistics, including durable medical equipment industry global market size, regional shares, competitors with a durable medical equipment market share, detailed durable medical equipment market segments, market trends and opportunities, and any further data you may need to thrive in the durable medical equipment industry. This durable medical equipment market research report delivers a complete perspective of everything you need, with an in-depth analysis of the current and future scenario of the industry.
Read the full report: https://www.reportlinker.com/p06464211/?utm_source=GNW
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