Rising prevalence of chronic and acute diseases and rapidly growing geriatric population are among the major factors driving the global market revenue growth
Rising prevalence of chronic and acute diseases and rapidly growing geriatric population are among the major factors driving the global market revenue growth
According to Emergen Research, the global durable medical equipment market size was USD 192.93 billion in 2020 and is expected to reach USD 305.17 billion in 2028 and register a revenue CAGR of 5.8% during the forecast period, 2021-2028.
Market Dynamics:
Steady revenue growth of the global durable medical equipment market is mainly attributed to factors such as rising prevalence of chronic and acute diseases, rapidly increasing geriatric population, growing trend of home health care, and rising demand for durable medical equipment in hospitals & clinics and ambulatory surgical centers, as well as in home healthcare settings and elderly care homes for remote patient health monitoring. Increasing prevalence of cancer, cardiovascular disorders, ophthalmic diseases, neurological diseases, and gynecological conditions, technological advancements in medical equipment and solutions, and growing availability of favorable healthcare coverage and reimbursement policies are other important factors contributing to revenue growth of the global market.
Request Free Sample Copy (To Understand the Complete Structure of this Report [Summary + TOC]) @ https://www.emergenresearch.com/request-sample/635
Also referred to as non-disposable medical equipment or home medical equipment, durable medical equipment are specially designed for patients with chronic or acute medical conditions to assist them in carrying out everyday tasks. Durable medical equipment are generally categorized into temporary hospital-grade equipment, personal mobility devices, monitoring and therapeutic devices. Personal mobility devices (such as wheelchairs, crutches, canes, and walkers) are designed for providing assistance to individuals with mobility-related challenges, while monitoring and therapeutic equipment include oxygen equipment, blood glucose analyzers, infusion pumps, continuous positive airway pressure (CPAP) devices, and vital sign monitors.
Durable medical equipment enable patients to be more independent and help reduce the amount of assistance they would otherwise require from caregivers. Moreover, these devices help improves the psychological wellbeing and social engagement ability of patients with certain disabilities. Hence, growing need for point-of-care therapies and home healthcare solutions, increasing patient pool, rising awareness of the significant benefits of durable medical equipment, latest advancements in assistive technology such as incorporation of robotics and exoskeletons are other factors expected to further boost market revenue growth over the forecast period.
COVID-19 Impact Analysis:
- Social distancing and restrictions severely disrupted businesses and operations
- Lockdowns caused disruptions in transportation and logistics
- Impacted manufacturing activities and mining operations globally
- Took a toll on economy of various countries
- Caused sudden and drastic downturn in economic activity
- Disrupted agriculture, fisheries, dairy, and other sectors
- Caused loss of employment and financial crisis
- Supply impacts were further compounded owing to reduced disposable income
- Emergence of variants continue to cause concerns and impact normal routines
Emergen Research is Offering Limited Time Discount (Grab a Copy at Discounted Price Now) @ https://www.emergenresearch.com/request-discount/635
Personal Mobility Devices Segment Accounted for Largest Revenue Share in 2020:
The personal mobility devices segment dominated other segments in terms of revenue share in the global market in 2020. Revenue growth of this segment is supported by factors such as rising cases of road accidents and severe injuries leading to physical disabilities, growing use of personal mobility equipment such as wheelchairs, crutches, and canes, rise in global geriatric population, rising demand in home care settings, and introduction of technologically advanced features in these devices, such as lockable wheels, oxygen tank holders, hemiplegic handles, and extended weight-bearing capacity.
Hospitals Segment to Account for Fastest Revenue CAGR:
The hospitals segment is expected to register the fastest revenue CAGR in the global market over the forecast period. Rising prevalence of chronic and acute illnesses, surge in geriatric population, increasing incidences of accidents and serious injuries, growing rate of hospital admissions, and rising government and private investments in healthcare infrastructure development are some of the major factors contributing to this segment’s revenue growth.
North America Market Accounted for Largest Revenue Share in 2020:
Among regional markets, the North America durable medical equipment market accounted for the largest revenue share in the global market in 2020. Growing prevalence of chronic and acute diseases such as cancer, cardiovascular diseases, neurological disorders, and gynecological conditions, rise in geriatric population, growing demand for durable medical equipment in hospitals, ambulatory surgical centers, and home healthcare facilities, and increasing need for remote patient health care and monitoring are among the key factors driving the North America market revenue growth. Increasing availability of improved healthcare reimbursement policies, rapid integration of emerging technologies such as AI and robotics in medical equipment and solutions, and presence of highly advanced healthcare infrastructure and key market players in the region, including Johnson & Johnson, Philips Healthcare, Stryker Corporation, and GE Healthcare, are some other key factors that can further drive the North America market revenue growth.
Browse Full Report Description + Research Methodology + Table of Content + Infographics@ https://www.emergenresearch.com/industry-report/durable-medical-equipment-market
Scope of Research
| Report Details | Outcome |
| Market size in 2020 | USD 192.93 Billion |
| CAGR (2018–2028) | 5.8% |
| Revenue forecast in 2028 | USD 305.17 Billion |
| Base year for estimation | 2020 |
| Historical data | 2018–2019 |
| Forecast period | 2021–2028 |
| Quantitative units | Revenue in USD Billion; and CAGR from 2018 to 2028 |
| Report coverage | Revenue forecast, company ranking, competitive landscape, growth factors, and trends |
| Segments covered | Product type, payer, end-use, and by regions |
| Regional scope | North America; Europe; Asia Pacific; Central & South America; Middle East & Africa |
| Country scope | U.S.; Canada; Mexico; Germany; France; U.K.; BENELUX; Italy; Spain; Russia; Rest of Europe; China; Japan; South Korea; India; Rest of APAC; Brazil; Rest of LATAM; Saudi Arabia; UAE; South Africa; Turkey; Rest of MEA. |
| Key companies profiled | Invacare Corporation, GE Healthcare, Stryker Corporation, Hill Rom, Inc., Drive Medical, GF Health Products, Inc., Sunrise Medical, Medline Industries, Inc., Carex Health Brands, Inc., and Intco Medical |
| Customization scope | 10 hours of free customization and expert consultation |
Major Companies in the Global Durable Medical Equipment Market Include:
- GE Healthcare
- Stryker Corporation
- Invacare Corporation
- Johnson & Johnson
- Medtronic Plc
- Siemens Healthcare
- Philips Healthcare
- Cardinal Health
- Abbott Laboratories
- Boston Scientific
- Essilor
- Zimmer Biomet
- St. Jude Medical
- 3M Healthcare
- Olympus Medical
- Terumo Corporation
- C.R. Bard
- Varian Medical
- Dentsply International
- Hologic Inc.
- Edwards Lifesciences
- Sonova Holding
- Hill Rom, Inc.
- Drive Medical
- GF Health Products, Inc.
- Sunrise Medical
- Medline Industries, Inc.
- Carex Health Brands, Inc.
- Intco Medical
For the purpose of this report, Emergen Research has segmented the global durable medical equipment market on the basis of product type, payer type, end-use, and region:
Product Type Outlook (Revenue, USD Billion; 2018–2028)
- Bathroom Safety Devices and Medical Furniture
- Grab Bars
- Shower Chairs
- Transfer Benches
- Toilet Safety Rails
- ICU Beds
- Fowler Beds
- Home Care Beds
- Bedside Cabinets
- Overbed Tables
- Dirty Linen/Waste Trolleys
- Foot Stools
- Others
- Personal Mobility Devices
- Wheelchairs and Scooters
- Crutches and Canes
- Walker
- Others
- Monitoring and Therapeutic Devices
- Oxygen Equipment
- Blood Glucose Analyzers
- Vital Sign Monitors
- Infusion Pumps
- Continuous Positive Airway Pressure (CPAP) Devices
- Nebulizers
- Others
Payer Type Outlook (Revenue, USD Billion; 2018–2028)
- Private
- Public
- Out-of-Pocket
End-use Outlook (Revenue, USD Billion; 2018–2028)
- Clinics
- Hospitals
- Ambulatory Surgical Centers
- Long-term Care Centers
- Home Care Settings
- Others
Custom Requirements can be requested for this Report [Customization Available] @ https://www.emergenresearch.com/request-for-customization/635
Regional Outlook (Revenue, USD Billion; 2018–2028)
- North America
- U.S.
- Canada
- Mexico
- Europe
- Germany
- France
- U.K.
- Italy
- Spain
- BENELUX
- Rest of Europe
- Asia Pacific
- China
- India
- Japan
- South Korea
- Rest of Asia Pacific
- Latin America
- Brazil
- Rest of Latin America
- Middle East & Africa
- Saudi Arabia
- U.A.E.
- South Africa
- Turkey
- Rest of Middle East & Africa
Related Published Articles Published by Emergen Research:
Predictive and Prescriptive Analytics Market
Automotive Regenerative Braking System Market
Electric Vehicle Fast Charging System Market
Clinical Decision Support Systems Market
About Emergen Research
Emergen Research is a market research and consulting company that provides syndicated research reports, customized research reports, and consulting services. Our solutions purely focus on your purpose to locate, target, and analyze consumer behavior shifts across demographics, across industries, and help clients make smarter business decisions. We offer market intelligence studies ensuring relevant and fact-based research across multiple industries, including Healthcare, Touch Points, Chemicals, Types, and Energy. We consistently update our research offerings to ensure our clients are aware of the latest trend’s existent in the market. Emergen Research has a strong base of experienced analysts from varied areas of expertise. Our industry experience and ability to develop a concrete solution to any research problems provides our clients with the ability to secure an edge over their respective competitors.
Contact Us:
Eric Lee
Corporate Sales Specialist
Emergen Research | Web: www.emergenresearch.com
Direct Line: +1 (604) 757-9756
E-mail: sales@emergenresearch.com
Emergen Research Media Citations: https://www.emergenresearch.com/media-citations
Visit for More Insights: https://www.emergenresearch.com/insights
Explore Our Custom Intelligence services | Growth Consulting Services
Press Release Available https://www.emergenresearch.com/press-release/global-durable-medical-equipment-market