Published: Jan, 2019
The demand within the global market for durable medical equipment (DMI) has been rising on account of the adoption of advanced technologies in the healthcare sector, finds Transparency Market Research (TMR). The market players in the global durable medical equipment (DMI) market have been recalibrating their production capacities to accommodate the needs of all types of patients. The market vendors in the global market for durable medical equipment (DMI) market currently bank on the quality and utility served by their products. The overall dynamics of the global durable medical equipment (DMI) market are such that all the recognised vendors have a fair share of revenues in their kitty.
The bar of competition in the global durable medical equipment (DMI) market has been on a rise over the past decade. This can be attributed to the quest of the vendors to increase their margin of profit and consolidate their financial position. Furthermore, the leading vendors in the global durable medical equipment (DMI) market are projected to acquire the smaller players with the intent to increase their geographical reach. Mergers and strategic partnerships could also be a recurring trend in the global durable medical equipment (DMI) market in the years to come.
A report by Transparency Market Research (TMR) prognosticates that the global durable medical equipment (DMI) market would expand at a healthy CAGR of 8.30% over the period between 2016 and 2025. Furthermore, the global durable medical equipment (DMI) market was valued at US$112.30 million in 2016, and is expected to escalate to a value of US$228.65 million by the end of 2025. On the basis of geography, the market for durable medical equipment (DMI) in North America is expected to expand at a paced rate. Based on equipment type, personal mobility devices are expected to attract commendable demand in the coming years.
Need to Induct Advanced Infrastructure across Medical Facilities to Propel Demand
The past few decades have been an era of unparalleled growth for the medical fraternity, and this is evident from the huge-scale spending made towards developing better infrastructural facilities in the industry. Hence, the demand within the global market for durable medical equipment (DMI) has been escalating at a boisterous rate in recent times. Furthermore, the rising incidence of paralytic disorders has created an indispensable need for wheelchairs and canes. This factor has also propelled market demand, and has given an impetus to the growth of the vendors operating in the global durable medical equipment (DMI) market.
Government Spending to Propel Market Demand
Public health has emerged as an integral industry for the government, and the latter is making huge investment towards the development of better public health facilities. This factor is projected to bring in voluminous revenues into the global durable medical equipment (DMI) market in the forthcoming years. The healthcare sector of several regions is closely regulated by the government; and hence, the market for durable medical equipment has expanded on account of the proactive nature of government entities. It is, therefore, safe to prognosticate that the market for durable medical equipment lucrative growth opportunities for the vendors.
The review is based on TMR’s report titled “Durable Medical Equipment (DME) Market (Equipment Type – 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); End Users - Hospitals, Long-Term Care Centers, Ambulatory Surgical Centers, and Home Care Settings) - Global Industry Analysis, Size, Share, Growth, Trends and Forecast 2017 – 2025”.
The global durable medical equipment (DME) is segmented as:
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
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