Durable Medical Equipment (DME) Market Size, Share, Trends, Growth, Consumption, Revenue, Company Analysis and Forecast 2020-2027

Published Date : Nov 2020 | No. of Pages : 200 Pages | Category : Healthcare

According to Vision Research Reports, the global durable medical equipment (DME) market size surpassed at US$ 154 billion in 2019 and to expand at a CAGR of 6.3% from 2020 to 2027.

The global durable medical equipment (DME) market size is projetced to surpass US$ 260 billion by 2027, increasing number of people with one or more disabilities, rising government initiatives in preventive health care programs are projected to drive the global durable medical equipment (DME) market during the forecast period.

Overview

  • Durable Medical Equipment (DME) is any equipment that provides therapeutic benefits to a patient in need because of certain medical conditions and/or illnesses. Durable Medical Equipment (DME) consists of items which are primarily and customarily used to serve a medical purpose.
  • DME includes, wheelchairs (manual and electric), hospital beds, traction equipment, canes, crutches, walkers, kidney machines, ventilators, oxygen, monitors, pressure mattresses, lifts, nebulizers, electrical blankets etc.
  • North America dominated the global durable medical equipment (DME) market in 2018 and the trend is anticipated to continue during the forecast period. Highly structured health care industry, research, and treatment platforms, rising incidence of chronic and cardiovascular diseases, and presence of a large number of manufacturers are expected to drive the market in North America.
  • Asia Pacific is likely to be a highly lucrative market for durable medical equipment (DME) and it is expected to expand at a high CAGR during the forecast period

High Incidence of Major Chronic Diseases and Increase in Geriatric Population to Drive Market

  • Growing incidence of cardiac disorders, cancer, ophthalmic ailments, gynecological complications and neurological conditions helps to drive the product demand over the forecast period. Better coverage and reimbursement policies for DME products are also likely to help boost the DME market growth.
  • In addition, rising number of elderly care centers as a result of increasing geriatric population base across the globe is projected to drive the DME market further. Adults have low immunity level and more prone to cardiac, skeletal and neurological problems, which increases the need for long-term hospital stay for recovery. According to a report by the U.S. Census Board in 2016, people aged 60 years or above represented nearly 18% of the country’s total population and the percentage is projected to increase to 21% by 2030. Such factors is likely to drive the growth of this market

Personal Mobility Devices Segment to Dominate Market

  • Based on equipment type, the global durable medical equipment (DME) market has been divided into personal mobility devices, bathroom safety devices, medical furniture and monitoring and therapeutic devices. The personal mobility devices segment has been bifurcated into medical beds, matress, strechers, lift chairs and others. The combination pills segment dominated the global durable medical equipment (DME) market in 2018 and the trend is projected to continue during the forecast period. Rising incidence rates of infectious and chronic diseases such as sexually transmitted and chronic obstructive pulmonary diseases, diabetes, and cancer are major factor for to boost the market growth. In addition, increasing demand for medical beds, matress, strechers, lift chairs in countries like India, China due to rising number of hospital.

Hospitals to be Highly Lucrative Segment

  • In terms of end-user, the global durable medical equipment (DME) market has been classified into hospitals, long term care centers, ambulatory surgical centers, home care setting and others. The hospitals segment dominated the durable medical equipment (DME) market due to increasing number of hospitals and rising investments in the health care sector by governments of developing countries are likely to fuel the segment during the forecast period.

North America to Dominate Global Market

  • In terms of region, the global durable medical equipment (DME) market has been segmented into North America, Europe, Asia Pacific, Latin America, and Middle East & Africa. North America dominated the global durable medical equipment (DME) market in 2018, followed by Europe.
  • North America accounted for major share of the global durable medical equipment (DME) market in 2018, owing to high adoption rate of technologically advanced product, new product launch, and presence of major players.
  • The durable medical equipment (DME) market in Asia Pacific is anticipated to expand at a high CAGR from 2019 to 2027. This can be attributed to rapid economic growth in developing economies such as India, China, Indonesia, Vietnam, South Korea, and the Philippines. Increasing adult population and increasing demand for advanced product are likely to drive the growth of durable medical equipment (DME) market in Asia Pacific

Competitive Landscape

  • The global Durable medical equipment (DME) market is fragmented in terms of number of players. Key players in the global market include Stryker Corporation, Medtronic plc., Medline Industries, Inc., BD, Hill-Rom Holdings, Inc., Drive DeVilbiss Healthcare, Inc., Invacare Corporation, Sunrise Medical (US) LLC, and ResMed, Inc.

Market Segmentation

By Equipment Type

    • Personal Mobility Devices
      • Wheelchairs
      • Crutches & Canes
      • Walker
      • Others
    • Bathroom Safety Devices
      • Commodes
      • Toilet Rails/Frames
      • Others
    • Medical Furniture
      • Medical Beds
      • Matress
      • Strechers
      • Lift Chairs
      • Others
    • Monitoring and Therapeutic Devices
      • Blood Glucose Monitor
      • Oxygen Equipment
      • Infusion Pumps
      • Vital Sign Monitors
      • Others

By End-user

    • Hospitals
    • Long Term Care Centers
    • Ambulatory Surgical Center
    • Home Care Settings
    • Others

By Region

    • North America
      • U.S.
      • Canada
    • Europe
      • Germany
      • U.K.
      • France
      • Italy
      • Spain
      • Rest of Europe
    • Asia Pacific          
      • China
      • India
      • Japan
      • Australia & New Zealand
      • Rest of Asia Pacific
    • Latin America
      • Brazil
      • Mexico
      • Rest of Latin America
    • Middle East & Africa
      • GCC Countries
      • South Africa
      • Rest of Middle East & Africa

Scope of Report

VRR’s report on the global durable medical equipment (DME) market studies past as well as current growth trends and opportunities to gain valuable insights of these indicators of the market during the forecast period from 2020 to 2027. The report provides revenue of the global durable medical equipment (DME) market for the period 2016–2027, considering 2020 as the base year and 2027 as the forecast year. The report also provides the compound annual growth rate (CAGR) for the global durable medical equipment (DME) market during the forecast period.

The report has been prepared after an extensive primary and secondary research. Primary research involved bulk of research efforts, wherein analysts carried out interviews with industry leaders and opinion makers. Extensive secondary research involved referring to key players’ product literature, annual reports, press releases, and relevant documents to understand the global durable medical equipment (DME) market.

Secondary research also included Internet sources, statistical data from government agencies, websites, company presentations, sales data, and trade associations. Analysts have employed a combination of top-down and bottom-up approaches to study various phenomenon in the global durable medical equipment (DME) market.

The report includes an elaborate executive summary, along with a snapshot of the growth behavior of various segments included in the scope of the study. Furthermore, the report sheds light on the changing competitive dynamics in the global durable medical equipment (DME) market. These indices serve as valuable tools for existing market players as well as for entities interested in entering the global durable medical equipment (DME) market.

The report delves into the competitive landscape of the global durable medical equipment (DME) market. Key players operating in the global durable medical equipment (DME) market have been identified, and each one of these has been profiled for distinguishing business attributes. Company overview, financial standings, recent developments, and SWOT are some of the attributes of players in the global durable medical equipment (DME) market that have been profiled in this report.

Key Questions Answered in Global Durable Medical Equipment (DME) Market Report

  • What is the scope of growth of product companies in the global durable medical equipment (DME) market?
  • What will be the Y-o-Y growth of the global durable medical equipment (DME) market between 2019 and 2027?
  • What is the influence of changing trends in technologies on the global durable medical equipment (DME) market?
  • Will North America continue to be the most profitable market for durable medical equipment (DME) providers?
  • Which factors are anticipated to hamper the growth of the global durable medical equipment (DME) market during the forecast period?
  • Which are the leading companies in the global durable medical equipment (DME) market?

Research Methodology

A unique research methodology has been utilized by VRR to conduct comprehensive research on the growth of the global durable medical equipment (DME) market and arrive at conclusions on its growth prospects. This research methodology is a combination of primary and secondary research, which helps analysts warrant the accuracy and reliability of the drawn conclusions.

Secondary methods referred to by analysts during the production of the global durable medical equipment (DME) market report include statistics from company annual reports, SEC filings, company websites, investor presentations, regulatory databases, government publications, and industry white papers. Analysts have also interviewed senior managers, product portfolio managers, CEOs, VPs, and market intelligence managers, who contributed to the production of VRR’s study on the durable medical equipment (DME) market as primary methods.

These primary and secondary methods have provided exclusive information during interviews, which serves as a validation from the durable medical equipment (DME) market leaders. Access to an extensive internal repository and external proprietary databases enabled this report to address specific details and questions about the global durable medical equipment (DME) market with accuracy. The study also uses the top-down approach to assess the revenues for each segment and the bottom-up approach to counter-validate them. This has helped in reaching VRR’s estimates on future prospects of the global durable medical equipment (DME) market more reliably and accurately.


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