Global Durable Medical Equipment Market Overview
Durable medical equipment helps in completion of our daily routines. It includes multiple instruments such as walkers, wheelchairs, oxygen tanks, hospitals beds, ventilators etc. It is non-disposable equipment used in clinics, hospitals, and even though in home care settings to help patients with better aid. It supports in diagnosing or provides treatment to an illness or injury and prevent the condition from being worse. Besides this, it also supplies therapeutics benefits medical ailments. As its feature of durability and reusability, DME is prescribed by most of the physicians and usually gets covered in healthcare plans worldwide. Continuous technological advancements by the manufacturers of DME lead to open new innovations in the global market. In March 2019, BiKube launched a life changing mobility aid, this device specifically designed to connect link between the cane and the walker and allows hands-free movements within patients at homes. The global durable medical equipment market accounted for US$ 55.29 billion in 2020 and is estimated to be US$ 104.37 billion by 2030 and is anticipated to register a CAGR of 6.6%.
Global Durable Medical Equipment Market Drivers & Restraints
Drivers: Rising focus on home care settings
The rising demand on home care settings for managing medical conditions and illnesses in patients’ populations as well as the rising awareness of elevating patients’ comforts are the driving key factors of the DME globally. The devices are mainly associated with therapeutic benefits and convenience to the patients. It is predicted that high prevalence of heart diseases will increase the market capitalization as the patients will require more DMEs.
Restraints: Cost being one of the problems
The high equipment prices, maintenance cost, government regulations and lack of skilled professionals to handle the medical equipment’s might be the manipulating factors for the market.
Global Durable Medical Equipment Market Segmentations & Regional Insights
The global durable medical equipment’s market is segmented based on equipment type, end users, and region.
On the basis of product, the global DME market is segmented into personal mobility devices, bathroom safety devices, medical furniture and monitoring and therapeutic devices. Based on end user, the target market is segmented into hospitals, clinics, ambulatory surgical centers, home care settings and others.
Regional Insights:
The global durable medical equipment market accounted for US$ 55.29 billion in 2020 and is estimated to be US$ 104.37 billion by 2030 and is anticipated to register a CAGR of 6.6%. On region the global durable medical equipment’s market is segmented into North America, Europe, Asia Pacific, Latin America, and Middle East & Africa. North America is dominating and holds the largest share in this market, with the US being its largest contributor in generating revenue. Apart from this, market players are focusing on developing new products. For example, Canada gets approval for its caretaker wearable vital signs monitor, allows COVID-19 patients to used it during quarantine period.
Report Scope:
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Attribute |
Details |
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Base year for estimation |
2020 |
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Forecast period |
2020 – 2030 |
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Market representation |
Revenue in USD Million & CAGR from 2020 – 2030 |
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Market Segmentation |
By Equipment Type- Personal Mobility Devices, Bathroom Safety Devices, Medical Furniture and Monitoring and Therapeutic Devices By End User– Hospitals, Clinics, Ambulatory Surgical Centers, Home Care Settings and others |
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Regional scope |
North America - U.S., Canada Europe - UK, Germany, Spain, France, Italy, Russia, Rest of Europe Asia Pacific - Japan, India, China, South Korea, Australia, Rest of Asia-Pacific Latin America - Brazil, Mexico, Argentina, Rest of Latin America Middle East & Africa - South Africa, Saudi Arabia, UAE, Rest of Middle East & Africa |
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Report coverage |
Revenue forecast, company share, competitive landscape, growth factors, and trends |
Segments Covered in the Report:
This report forecasts revenue growth at global, regional, and country levels and provides an analysis of the latest industry trends and opportunities in each of the sub-segments from 2020 to 2030. For the purpose of this study, has segmented the global durable medical equipment market report based on equipment type, end user, and region
Global Durable Medical Equipment Market, By Region:
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- North America
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- U.S.
- Canada
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- Europe
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- Germany
- UK
- France
- Russia
- Italy
- Rest of Europe
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- Asia Pacific
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- China
- India
- Japan
- South Korea
- Rest of Asia Pacific
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- Latin America
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- Brazil
- Mexico
- Rest of Latin America
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- Middle East & Africa
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- GCC
- Israel
- South Africa
- Rest of Middle East & Africa
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- North America
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Global Durable Medical Equipment Market Competitive Landscape & Key Players
The key players in the global durable medical equipment market includes, Stryker Corporation, Baxter International, Inc. Medtronic plc. Becton, Dickinson and Company, Medline Industries, Inc., Invacare Corporation, Sunrise Medical LLC., ResMed, Inc., Drive DeVilbiss Healthcare, Inc. (Medical Depot Inc.) Hill-Rom Holdings, Inc. The market is highly competitive because of the presence of developed companies. Hence, companies like Invacare Corp., are increasing their production to meet the demand.
Global Durable Medical Equipment Market Company Profile
- Stryker Corporation
- Company Overview
- Product Portfolio
- Key Highlights
- Financial Performance
- Business Strategies
- Baxter International Inc.
- Company Overview
- Product Portfolio
- Key Highlights
- Financial Performance
- Business Strategies
- Dickinson and Company
- Company Overview
- Product Portfolio
- Key Highlights
- Financial Performance
- Business Strategies
- Medline Industries Inc.
- Company Overview
- Product Portfolio
- Key Highlights
- Financial Performance
- Business Strategies
- Medtronic PLC
- Company Overview
- Product Portfolio
- Key Highlights
- Financial Performance
- Business Strategies
- Sunrise Medical LLC
- Company Overview
- Product Portfolio
- Key Highlights
- Financial Performance
- Business Strategies
- Invacare Corporation
- Company Overview
- Product Portfolio
- Key Highlights
- Financial Performance
- Business Strategies
- Drive DeVilbiss Healthcare Inc.
- Company Overview
- Product Portfolio
- Key Highlights
- Financial Performance
- Business Strategies
- Medical Devices Depot Inc.
- Company Overview
- Product Portfolio
- Key Highlights
- Financial Performance
- Business Strategies
- Hill-Rom Holdings, Inc.
- Company Overview
- Product Portfolio
- Key Highlights
- Financial Performance
- Business Strategies
“*” marked represents similar segmentation in other categories in the respective section
Global Durable Medical Equipment Market Highlights
FAQs
The global durable medical equipment market is segmented based on equipment type, end user, and region.
Increasing focus on home care settings by the patients is the major factor driving growth of the global market.
North America is dominating and holds the largest share in this market, with the US being its largest contributor in generating revenue. Other organization are focusing on developing advanced product and working more on the commercialization.
Companies like Invacare Corporation are constantly rising the production and supply of DME to meet the demand. This market is highly competitive because of the presence of well-established companies.