Selbyville, Delaware, March 05, 2020 (GLOBE NEWSWIRE) --
Global Market Insights, Inc. has recently added a new report on durable medical equipment market which estimates the global market valuation for DME will cross US$ 275 billion by 2026. The increasing advantages associated with these equipments will drive the market growth over the analysis timeframe.
Increasing patient preferences towards home-based care will foster the demand for durable medical equipment. Durable medical equipment is an equipment that specifically serves a medical purpose and is further able to withstand repeated use as well as is suitable for the use in-home care settings. The durable medical equipment is equipped with high-tech monitoring along with feedback technologies that eventually reduces the dependency of patients on family and professional caregivers.
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The personal mobility devices segment was valued over USD 18 billion in 2019 and is estimated to show lucrative growth during the forecast timeline. Personal mobility devices are further bifurcated into wheelchair & scooter, crutches & canes, walkers, and others. Increasing patient population suffering from some disability will surge the demand for wheelchairs and scooters. Also, growing number of disability population due to accidental injuries surges the overall segmental demand.
Public segment is estimated to witness over 5% CAGR during the analysis period. Medicare covers durable medical equipment that serves a medical purpose and is appropriate for repeated usage. In addition, it offers different plans with several benefits on durable medical equipment for effectively managing patient health. For instance, the Spanish National Health System provides universal health care for free, that will surge the public payer segment demand.
Home care settings involve skilled nursing care with several health services, that are specifically carried out at a patient’s home for effective and better treatment of an injury or illness. Therefore, the above-mentioned aspects will raise patient preferences towards home-based care and fuel the market growth. However, high cost associated with the equipment may impede the durable medical equipment market growth.
Browse key industry insights spread across 200 pages with 307 market data tables & 15 figures & charts from the report, “Durable Medical Equipment Market Share & Forecast, 2020 – 2026” in detail along with the table of contents:
https://www.gminsights.com/industry-analysis/durable-medical-equipment-dme-market
The ambulatory surgical centers segment is anticipated to witness around 17% revenue share by 2026. Increasing number of patients requiring critical care in ambulatory surgical centers coupled with availability of secured healthcare infrastructure favors segmental growth. Ambulatory surgical centers offer numerous advantages over diagnostic centers and hospitals. Some of the advantages such as well-equipped devices, shorter hospital stays and low risk of acquiring hospital acquired infection, will enhance the durable medical equipment market growth.
Europe durable medical equipment market accounted for over USD 38 billion in 2019. Presence of large number of manufacturers in European region will drive the durable medical equipment industry growth. Increasing disposable income resulting in treatment affordability and development of healthcare infrastructure will favor regional market growth.
Some major findings of the durable medical equipment market report include:
- Increasing prevalence of chronic diseases among the elderly population base throughout the globe will foster the business expansion.
- Growing emphasis of several medical device companies on R&D activities for the development of novel products will provide positive impact on the market growth.
- Rising number of accidents and injuries in developing nations will foster the demand for durable medical equipment in coming years.
- Growing number of surgical procedures across the globe will eventually raise the demand for durable medical equipment in hospital as well as home care settings.
Some of the prominent business players operating in the durable medical equipment market include Cardinal Health, Stryker, Medline Industries, Hill-Rom Services, Getinge, Invacare, Sunrise Medical, Intco Medical, Compass Health Brands and GF Health Products among others. The industry players have undertaken several growth strategies to sustain market competition. For instance, In August 2018, Sunrise Medical acquired Magic Mobility, a leading Australian-based designer and manufacturer of power wheelchairs. This strategy provided several opportunities to customers to avail the benefits of power wheelchairs, and thus enhanced the product range of the firm.
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Partial chapters of report table of contents (TOC):
Chapter 2. Executive Summary
2.1. Medical equipment industry 360⁰ synopsis, 2015 – 2026
2.1.1. Business trends
2.1.2. Product trends
2.1.3. End-use trends
2.1.4. Regional trends
Chapter 3. Durable Medical Equipment Industry Insights
3.1. Industry segmentation
3.2. Industry landscape, 2015 - 2026
3.3. Industry impact forces
3.3.1. Growth drivers
3.3.1.1. Rising patient preference for home-based care
3.3.1.2. Increasing prevalence of chronic diseases across the globe
3.3.1.3. Growing geriatric population base throughout the globe
3.3.1.4. Technological advancements
3.3.2. Industry pitfalls and challenges
3.3.2.1. Lack of skilled professionals
3.4. Growth potential analysis
3.4.1. By product
3.4.2. By end-use
3.5. Porter’s analysis
3.6. Competitive landscape, 2018
3.6.1. Competitive matrix analysis, 2018
3.7. PESTEL analysis
About Global Market Insights
Global Market Insights, Inc., headquartered in Delaware, U.S., is a global market research and consulting service provider. Offering syndicated and custom research reports, growth consulting and business intelligence services, Global Market Insights, Inc. aims to help clients with penetrative insights and actionable market data that aid in strategic decision making.
GMIPulse, our business analytics platform, offers an online, interactive option of exploring our proprietary industry research data in an easy-to-use and dynamic manner. Clients get to explore market intelligence across 11 top-level categories and hundreds of industry segments within them, covering regional, company level and cross-sectional statistics that make our offering a stand-out for decision-makers.