Global Durable Medical Equipment Market: Overview
Durable medical equipment (DME) can be defined as any equipment or device that is primarily beneficial for a patient's 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 .
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.
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.
Global Durable Medical Equipment (DME) Market: Scope and Methodology
This report on the global durable medical equipment (DME) market analyzes the current and future prospects of the market. The report comprises an elaborate executive summary, including a market snapshot that provides overall information of various segments and sub-segments.
The research is a combination of primary and secondary research. Primary research formed the bulk of our research efforts along with information collected from telephonic interviews and interactions via e-mails. Secondary research involved study of company websites, annual reports, press releases, stock analysis presentations, and various international and national databases. The report provides market size in terms of US$ Mn for each segment for the period from 2015 to 2025, considering the macro and micro environmental factors. Growth rates in terms of % CAGR from 2017 to 2025 for each segment within the global durable medical equipment (DME) market have been determined after a thorough analysis of past trends, demographics, future trends, technological developments, and regulatory requirements.
A detailed qualitative analysis of factors responsible for driving and restraining market growth and future opportunities has been provided in the market overview section. This section of the report also includes market attractiveness analysis that provides a thorough analysis of the overall competitive scenario in the global durable medical equipment (DME) market.
Market revenue in terms of US$ Mn for the period between 2015 and 2025 along with the compound annual growth rate (CAGR %) from 2017 to 2025 are provided for all the segments, considering 2015 as the base year. Market size estimations involved in-depth study of services and product and features of different types of products. Additionally, market related factors such as increase in prevalence of cancer and rare diseases, rise in demand for regenerative and cell-based therapies and historical year-on-year growth have been taken into consideration while estimating the market size.
Durable Medical Equipment (DME) Market: Segmentation
The durable medical equipment (DME) market has been segmented into three categories, namely by equipment, by end-user and by region. Based on equipment type the market is segmented into personal mobility devices (wheelchairs, crutches & canes, walkers, and others), medical furniture (medical beds, mattress, stretchers, lift chairs, and others), bathroom safety devices (commodes, toilet rails/frames, and others), and monitoring & therapeutic devices (blood glucose monitors, oxygen equipment, vital sign monitors, infusion pumps, and others). While on the basis of end-users, the market is classified into hospitals, long-term care centers, ambulatory surgical centers, home care settings, and others.
Durable Medical Equipment (DME) Market: Geographical and Competitive Dynamics
Geographically, the global durable medical equipment (DME) market has been segmented into five regions: North America, Europe, Asia Pacific, Latin America, and Middle East & Africa. In addition, the regions have been further segmented by major countries from each region. These include the U.S., Canada, the U.K., Germany, France, Italy, Spain, China, Japan, India, Australia and New Zealand, GCC Countries, Saudi Arabia, Brazil, and Mexico.
The report also profiles major players in the durable medical equipment (DME) market based on various attributes such as company overview, financial overview, SWOT analysis, key business strategies, product portfolio, and recent developments. Key companies profiled in the report include 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.) and Hill-Rom Holdings, Inc.
The global durable medical equipment (DME) market is segmented as follows:
Global Durable Medical Equipment (DME) Market Revenue, by Equipment Type
- Personal Mobility Devices
- Crutches & Canes
- Bathroom Safety Devices
- Toilet Rails/Frames
- Medical Furniture
- Medical Beds
- Lift Chairs
- Monitoring and Therapeutic Devices
- Blood Glucose Monitors
- Oxygen Equipment
- Vital Sign Monitors
- Infusion Pump
Global Durable Medical Equipment (DME) Market Revenue, by End User
- Long-term Care Centers
- Ambulatory Surgical Centers
- Home Care Settings
Global Durable Medical Equipment (DME) Market Revenue, by Geography
- North America
- Rest of Europe
- Asia Pacific
- Australia & New Zealand
- Rest of Asia Pacific
- Latin America
- Rest of Latin America
- Middle East and Africa
- South Africa
- GCC Countries
- Rest of Middle East & Africa