Durable Medical Equipment (DME) Market Size Worth $243.3 Billion By 2025 | CAGR: 6.8%
Published Date : 09 / 05 / 18 | Report Format: PDF
The global DME market is expected to grow at growth rate of 6.8% to reach USD 243.3 billion by 2025.
Durable medical equipment is used to gain therapeutics and diagnostic benefits to the patients with disease conditions such as cardiovascular, respiratory, cancer and others. Durable medical equipment examples are wheelchairs, walkers, rollators, hospital beds, and various others. Rising incidences of such conditions across the world drive the industry growth to great extent. For example, according to the Centers for Disease Control and Prevention (CDC), approximately 630,000 U.S. people (1 in every 4 death) die due to the cardiovascular problem every year. Additionally, as per the International Agency for Research on Cancer, around 14.1 million cancer cases were reported in 2012 and more than 32 million people are living with cancer worldwide. Other factors such as technological advancements, aging population, rising disability, and favorable government activities drive the market growth to some extent. However, low reimbursement rates are posing a potential threat to this industry. For instance, Medicare consider only medically required durable equipment for reimbursement purpose.
- Monitoring and therapeutic devices captured the highest share (i.e. more than 87% share) of the global durable medical equipment market. Rising chronic disease incidences majorly driving this segment growth globally.
- Home healthcare segment is anticipated to grow with the highest growth rate of 7.3% during the future period. Rising healthcare cost, demographic shift, and favorable government initiatives to promote home healthcare support this segment growth in future.
- Geographically, developed regions such as North America and Europe accounted for the largest share of the global industry. Collectively, these regions have captured more than 65% share of the overall market.
- Key players such as Invacare Corporation, Stryker Corporation, Carex Health Brands, Inc., Drive Medical, and Medline Industries are profiled extensively.
- As a strategic step, the leading players are merging or acquiring well-established domestic companies to enhance their presence or to occupy large customer base. For example, in February 2017, Hill-Rom acquired Mortara Instrument, Inc. to increase their product portfolio.
KEY BENEFITS OF THE REPORT:
- In-depth analysis of the key market dynamics
- Granular analysis of the current market scenario and expected factors to affect the market
- Detailed analysis of the geographic region, regional and county wise analysis
- Highlight on the strategies that are being adopted by the key players in this market to stay competitive
- Extensive analysis of the key players dominating the market
The scope of this report covers the market by its major segments, which include as follows:
MARKET, BY TYPES
- Monitoring and Therapeutic Devices
- Personal Mobility Devices
- Bathroom Safety Devices and Medical Furniture
MARKET, BY END USE
- Home Healthcare
- Hospital Settings
MARKET, BY REGION
- North America
- Rest of Europe
- Asia Pacific
- Rest of APAC
- Rest of the World
- Middle East and Africa
- Latin America
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