Durable Medical Equipment Market (By Product: Personal Mobility Devices, Bathroom Safety devices and Medical Furniture, Monitoring and Therapeutic Devices; By End Use: Hospital, Nursing Homes, Home Healthcare, Other) – Global Industry Analysis, Market Size, Opportunities and Forecast, 2020 - 2027

The global durable medical equipment market is anticipated to grow at a CAGR of around.6.3% during the forecast period 2020 to 2027 and to reach around US$ 287.4 Bn by 2027.

Market Dynamics

Gradual increase in number of patients suffering from various disorders such as cancer, cardiac disorders, ophthalmic ailments, neurological conditions, and gynecological complications and rising demand for advanced monitoring and therapeutic devices are major factor expected to drive the growth of global market.

According to American Heart Association, Inc. the prevalence of obesity was 39.6 percent of U.S. adults and 18.5 percent of youth, and severe obesity affected 7.7 percent of adults and 5.6 percent of youth.

High government spending on development of healthcare infrastructure with the growing home healthcare approach, and availability of favorable policies is resulting in adoption of durable medical equipment this is another important factor expected to further support the growth of target market.

Major players approach towards business expansion through strategic merger and acquisitions, coupled with innovative product offerings are factor responsible to augment the growth of target market.

• In 2020, AdaptHealth Corp. a provider of home medical equipment acquired Healthline Medical Equipment, Inc. This acquisition is expected to help the company to strengthen its position in Southeast and Southwest US and increase the profit ratio.
• In 2020, Gerresheimer AG launched a wearable micro-infusion pump D-mine that is used to administer apomorphine in the advanced stages of Parkinson’s treatment. This is expected to increase the product portfolio and increase the revenue share.

However, factors such as technological glitches and durability issues are expected to hamper the growth of global durable medical equipment market. In addition, lack of developed infrastructure in order to support the adoption of advanced devices is another factor expected to further challenge the growth of target market.

Rapid technological advancements in medical equipments coupled with introduction of innovative products are factor expected to create new opportunities for players operating in the target market over the forecast period. In addition, major players approach towards collaborative work is expected to further support the revenue traction of target market.

Durable Medical Equipment Market Segment Analysis, 2019

The global durable medical equipment market is segmented into product and end use. The product segment is bifurcated into personal mobility devices, bathroom safety devices and medical furniture, and monitoring and therapeutic devices. Among end use the hospital segment is expected to account for significant revenue share in the global market.

Segment Analysis by Region

The market in North America is expected to account for significant revenue share owing to high patient pool suffering from various disorders. In addition, favorable reimbursement policies and presence of major players operating in the country is expected to support the growth of target market.

Asia Pacific is expected to witness faster growth in the near future owing to high government spending on development of present healthcare infrastructure. In addition, major player approach towards developing countries in order to track the untapped market is another factor expected to support the growth of regional market.

Competitive Landscape

The global market is high highly competitive due to presence of large number of players and innovative product offerings. In addition, business expansion activities through partnerships and agreements are factors expected to further increase the competition.

 Report coverage

The market research study on “Durable Medical Equipment Market (Product: Personal Mobility Devices, Bathroom Safety Devices And Medical Furniture, And Monitoring And Therapeutic Devices; End Use: Hospital, Nursing Homes, Home Healthcare, and Other) – Global Industry Analysis, Market Size, Opportunities and Forecast, 2020 - 2027”, offers a detailed insights on the global durable medical equipment market entailing insights on its different market segments. Market dynamics with drivers, restraints and opportunities with their impact are provided in the report. The report provides insights on global durable medical equipment market segment by product, end use and major geographic regions. The report covers basic development policies and layouts of technology development processes. Secondly, the report covers global durable medical equipment market size and segment markets by product, end use and geography along with the information on companies operating in the market. The durable medical equipment market analysis is provided for major regional market including North America, Europe, Asia Pacific, Latin America, and Middle East & Africa. For each region, the market size for different segments has been covered under the scope of report. The players profiled in the report Invacare Corporation, ArjoHuntleigh, Stryker Corporation, Hill Rom, Inc., Drive Medical, GF Health Products, Inc., Sunrise Medical, Medline Industries, Inc., and Carex Health Brands, Inc.

Market Segmentation

Market By Product

Personal Mobility Devices

• Wheelchairs
• Scooters
• Walker and Rollators
• Cranes and Crutches
• Door Openers
• Other Devices

Bathroom Safety devices and Medical Furniture

• Commodes and Toilets
• Mattress & Bedding Devices

Monitoring and Therapeutic Devices

• Blood Sugar Monitors
• Continuous Passive Motion (CPM)
• Infusion Pumps
• Nebulizers
• Oxygen Equipment
• Continuous Positive Airway Pressure (CPAP)
• Suction Pumps
• Traction Equipment
• Others Equipment

Market By End Use

• Hospital
• Nursing Homes
• Home Healthcare
• Other

Market By Region

North America

• U.S.
• Canada

Europe

• U.K
• Germany
• France
• Spain
• Rest of Europe

Asia-Pacific

• China
• Japan
• India
• Australia
• South Korea
• Rest of Asia-Pacific

Latin America

• Brazil
• Mexico
• Rest of Latin America

Middle East & Africa

• GCC
• South Africa
• Rest of Middle East & Africa