5th Floor, Brigade Towers,
Financial District, Gachibowli,
Hyderabad - 500032,
The Durable Medical Equipment Market is segmented by Device Type, End User (Hospital/Clinics, Ambulatory Surgical Center), and Geography
Fastest Growing Market:
The market is expected to witness a CAGR of 6.3% during the forecast period, owing to the well-developed healthcare infrastructure, the significant presence of multinational medical device companies, and well-planned reimbursement policies, among others. in 2017, Texoma Council of Governemnt launched a project of durable medical equipment. Under this project a loan will be provided for these equipment to the ones who are in necessity. The durable medical equipment market is primarily driven by the rise of chronic diseases, technological advancements, and increasing government initiatives. According to the World Health Organization, in 2018, around 18.1 million cases were recorded for cancer worldwide.
As per the scope of this report, durable medical equipment (DME) are the devices and products that serve medical purposes and that can tolerate frequent and/or subsequent usage. The patients now prefer availing post-operative and long-term care at home. Hence, the rising demand for home healthcare services opens possibilities for the DME market players to sell and cross-sell the various products. Durable Medical Equipment Market is segmented By Device Type, By End User and Geography.
|By Device Type|
|By End User|
|Ambulatory Surgical Center|
|Other End Users|
Report scope can be customized per your requirements. Click here.
The hospital segment is expected to hold the maximum share in the global durable medical equipment market. The growth of the segment is mainly attributed to a high volume of patients coming to hospitals and greater financing capabilities. Technological advancements in medical equipment are helping in the improvisation in diagnosis and treatment of diseases.
As development in the healthcare sector is being followed, there is an increase in the number of hospitals across the developing and developed nations. These increasing number of hospitals and clinics have well-equipped surgical equipment, such as wheelchairs, beds, walkers, bathroom safety devices, monitoring and therapeutic devices, and other equipment.
There is also a rising number of well-equipped diagnostic centers, which have equipment, such as blood sugar monitors, infusion pump, mattress and bedding devices, etc., that help in improving the total patient outcomes. There are also many insurance plans that reimburse the cost of repair and maintenance of the hospital medical equipment, and, therefore, a majority of hospitals are adopting these insurance policies. Therefore, the growth in the medical devices industry drives the hospital segment of the market
To understand key trends, Download Sample Report
North America holds the largest share in the market, with the United States being the largest contributor to its revenue. In the United States, the Federal Drug and Food Administration (FDA) is responsible for regulating the sale of medical devices/products. The FDA also oversees the monitoring of safety in these regulated products. According to Select USA (a US government sponsored forum), the United States is the largest medical device market in the world. The country represents approximately 40% of the global medical device market. Overall, the United States is the largest market for durable medical equipment and may continue to retain its position over the forecast period. The main drivers for the growth of the market are likely to be the increasing population of elderly people and increasing chronic disease prevalence, which may indirectly fuel the adoption of durable medical equipment.
To understand geography trends, Download Sample Report.
The global durable medical equipment market is highly competitive and consists of several major players. The existing major players in the durable medical equipment market employ strong competitive strategies, leading to high rivalry between them. Some of the key players in the market are Compass Health Brands, GE Healthcare, Getinge AB, GF Health Products Inc., and Invacare Corporation, among others.The product advancements and improvements in durable medical equipment by the major players are increasing the competitive rivalry.
1.1 Study Deliverables
1.2 Study Assumptions
1.3 Scope of the Study
2. RESEARCH METHODOLOGY
3. EXECUTIVE SUMMARY
4. MARKET DYNAMICS
4.1 Market Overview
4.2 Market Drivers
4.2.1 Increasing Prevalence of Chronic and Lifestyle-related Disorders
4.2.2 Technological Advancements in Portability, Patient Comfort, and Utilities
4.2.3 Increasing Demand and Funding for Monitoring and Therapeutic Devices
4.3 Market Restraints
4.3.1 Stringent Regulatory Requirements Related with Medical Supplies
4.3.2 Lack of Skilled Professionals and Shortage of Facilities
4.4 Industry Attractiveness - Porter's Five Forces Analysis
4.4.1 Threat of New Entrants
4.4.2 Bargaining Power of Buyers/Consumers
4.4.3 Bargaining Power of Suppliers
4.4.4 Threat of Substitute Products
4.4.5 Intensity of Competitive Rivalry
5. MARKET SEGMENTATION
5.1 By Device Type
5.1.1 Personal Mobility Devices
184.108.40.206 Crutch and Cane
220.127.116.11 Other Personal Mobility Devices
5.1.2 Medical Furniture and Bathroom Safety Devices
18.104.22.168 Medical Bed and Mattress
22.214.171.124 Commode and Toilet
126.96.36.199 Other Medical Furniture and Bathroom Safety Devices
5.1.3 Monitoring and Therapeutic Devices
188.8.131.52 Blood Glucose Monitor
184.108.40.206 Oxygen Equipment
220.127.116.11 Vital Sign Monitor
18.104.22.168 Infusion Pump
22.214.171.124 Other Monitoring and Therapeutic Devices
5.2 By End User
5.2.2 Ambulatory Surgical Center
5.2.3 Other End Users
5.3.1 North America
126.96.36.199 United States
188.8.131.52 United Kingdom
184.108.40.206 Rest of Europe
220.127.116.11 South Korea
18.104.22.168 Rest of Asia-Pacific
5.3.4 Middle East & Africa
22.214.171.124 South Africa
126.96.36.199 Rest of Middle East & Africa
5.3.5 South America
188.8.131.52 Rest of South America
6. COMPETITIVE LANDSCAPE
6.1 Company Profiles
6.1.1 Compass Health Brands
6.1.2 GE Healthcare
6.1.3 Getinge AB
6.1.4 GF Health Products Inc.
6.1.5 Medtronic Inc.
6.1.6 Invacare Corporation
6.1.8 Medline Industries Inc.
6.1.9 Koninklijke Philips NV
6.1.10 Sunrise Medical
7. MARKET OPPORTUNITIES AND FUTURE TRENDS
**Competitive Landscape covers- Business Overview, Financials, Products and Strategies and Recent Developments