Durable Medical Equipment Market
Durable Medical Equipment Market is expected to reach USD 30,0560 Million at CAGR of 6.4% during the 2022-2030
Durable Medical Equipment or home medical equipment provides therapeutic benefits to patients. They are easy to use and does not need any special skill or training thus can easily be managed by a caretaker or a family member of the patient. Increasing per capita income, healthcare expenditure and aging population in Middle East and Africa are driving the Durable Medical Equipment Market Trends.
The rapid surge in cases of ophthalmic ailments, neurological conditions, cardiac disorders, cancer, and gynecological complications foster the demand for durable medical equipment. Growth in medical coverage worldwide combined with the favorable insurance and reimbursement policies should benefit the medical equipment market as well. Medical devices such as hospital furniture, insulin pumps, and ostomy bags are the major durable medical equipment and note substantial demand in the market.
The mushrooming elderly population with compromised immunity levels, are increasingly being affected by a series of disorders such as neurological, skeletal, and cardiac problems; conditions that need long-term care. This should elevate the DME market position over the conjectured period. The elderly population generally opts for home healthcare, which also elevates the product demand in these settings. On the downside, rigid regulatory policies along with the shortage of trained professionals, especially in underdeveloped countries can impede business growth over the years ahead.
Major Key Players:
There are plenty of large and small Market Players in all over Middle East and Africa region, such as Invacare Corporation (US), Medical Depot, Inc. (US), The Braun Corporation (US), Sunrise Medical (Germany), Permobil (Sweden), Medline Industries, Inc. (US), Compass Health Brands (US), ArjoHuntleigh (Sweden), Hill-Rom (US) and GF HEALTH PRODUCTS, INC. (US)
Durable medical equipment market can be considered for device type as well as end user.
Major device types covered in the MRFR review study are personal mobility devices, medical furniture, monitoring and therapeutic devices, and bathroom safety devices.
Durable medical equipment is used extensively by end users such as research centers, ambulatory surgical center, home healthcare, hospital/clinic, and more.
The geographical dissection of the global Durable Medical Equipment Market Insights covers Europe, MEA or Middle East & Africa, APAC or Asia Pacific along with the Americas.
The American market will attain the leading position over the evaluation period thanks to the thriving healthcare sector, in addition to the presence of an extensive pool of renowned medical device companies. The mushrooming patient base affected by a series of chronic disorders such as diabetes, cancer, and arthritis, coupled with the soaring demand and use of technically advanced equipment with high durability will further bolster the market expansion rate in the ensuing years.
Europe will be the second biggest market for durable medical equipment, as a result of the surging focus of the major manufacturers on technical developments as well as the upgradations in the healthcare industry. On top of these factors, the rapid increase in the number of acquisitions and mergers between the leading firms in the region give way to massive business growth too. Soaring number of large-sized healthcare organizations, expanding patient pool needing urgent critical care and the significant availability of a modern healthcare infrastructure across numerous countries i0n the region add to the market value as well. Surge in the number of trained and skilled professionals paired with the soaring use of durable equipment like sling lifts and transfer chairs in hospitals would have a remarkable impact on the European industry over the following years
Asia Pacific will be the fastest advancing market from 2020 to 2027, in view of the vast pool of patients affected by a host of chronic diseases including cancer, arthritis, diabetes, asthma, to mention a few. The massive geriatric population, especially in Japan and India along with the escalating number of well-equipped diagnostic centers using durable infusion pumps, bedding devices, and blood sugar monitors would foster business revenues in the upcoming years. It is likely that the stunning growth rate of the medical tourism industry in the region would be a growth rendering factor for the durable medical equipment industry in the near future.
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