Durable Medical Equipment Market is Anticipated to Witness Considerable Growth by 2025 | Hexa Research

Durable Medical Equipment Market is Anticipated to Witness Considerable Growth by 2025 | Hexa Research

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Research Report on Durable Medical Equipment Market Size, Share, Growth, Trends, Application Analysis, Competitive Market Strategies and Forecasts, 2019 to 2025

22 March 2019, The global durable medical equipment (DME) market is projected to witness remarkable growth in the coming years owing to increasing cases of diseases requiring long-term care. Chronic diseases, such as cancer, diabetes, and neurological conditions, are boosting the demand for surgical procedures, which call for a wide range of medical equipment. Such medical tools are expensive owing to high risk associated with complex medical procedures. This has, in turn, fueled the demand for durable medical equipment that can be used for long-term care.

Rising cases of cardiovascular and neurological disorders, and growing need for surgical procedures are anticipated to propel demand for durable medical equipment. Alzheimer, epilepsy, and Parkinson’s disease are the common neurological disorders affecting people across the globe. In addition, increasing prevalence of cancer and chronic conditions, such as diabetes, in geriatric population can impel the product demand. High penetration of home healthcare services can also contribute to market growth. Shifting preference for post-operative recovery at home among patients to avoid infections can stimulate market growth. Moreover, constant technological developments by manufacturing companies can impel market expansion in the coming years.

Increasing adoption of minimally invasive surgeries and reduction in the number of beds in public hospitals can hamper market growth. In addition, regulatory approval for the commercialization of specific DME and issues related to reimbursement against the purchase of DME can obstruct growth of the market. However, supportive government initiatives to speed up approvals for manufacturers can create lucrative opportunities for the market.

The market can be segmented on the basis of product type and end users. Based on product type, the market can be categorized into personal mobility devices, bathroom safety devices, monitoring and therapeutic devices and medical furniture. On the basis of end user, the market can be divided into hospitals, ambulatory surgical centers, home care settings, and long-term care centers.

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The market in Asia Pacific is anticipated to expand significantly in the coming years owing to high R&D investments by healthcare companies and government. Rising cases of life-threating disorders, such as cancer, can impel regional market growth. Growth of the healthcare sector, coupled with rising per capita expenditure on healthcare, can augment demand for DME in the region. Launch of innovative products by local manufacturing companies can gain traction among consumers. For instance, Roche Diabetes Care India launched a glucometer named Accu-Chek Instant S at an affordable price. The device can show blood sugar reading in less than 4 seconds using a small blood sample. Different color indicators, such as blue, green, and red, can tell users regarding glucose level range. The device can automatically synchronize all blood glucose readings through USB to the Accu-Chek Connect Online Portal.

North America is expected to witness substantial growth in the coming years owing to presence of well-developed healthcare infrastructure. High prevalence of diabetes and cancer can also impel demand for healthcare devices that are durable in nature. Presence of major manufacturing companies offering technologically advanced products can stimulate regional market growth. For instance, Dynarex launched its new products, namely Gloves in a Bag and XeroBurn Burn Gel. These gloves can be arranged easily in any kit and are available in both one and two pair packs. In addition, these gloves are available in one standard size- large, and are non-sterile and powder-free. The balm can be used to relieve the pain of all kinds of burns. It contains Lidocaine that provides quick relief to patients.

Some of the leading companies operating in the durable medical equipment market are Medtronic, Stryker Corporation, Dickinson and Company, Becton, and Sunrise Medical LLC.

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