Durable medical equipment (DME) is a category of medical devices and solutions that help patients to complete their daily activities efficiently.
Durable medical equipment (DME) is a category of medical devices and solutions that help patients to complete their daily activities efficiently. A growing number of geriatric patients propelling the demand for point-of-care treatment and home healthcare facilities will positively influence durable medical equipment market growth. Reportedly, the annual valuation of home healthcare industry worldwide is poised to exceed US$364.69 billion by 2022.
The benefits of DME can only be availed as prescribed by the medical practitioner. These medical devices are mostly covered under several healthcare insurances which are based on certain parameters. Coverage for DME includes portable oxygen equipment, power scooters, hospital beds, walkers, and wheelchairs.
Some of the other covered medical devices are crutches, blood testing strips, replacement CPAP masks, diaper supplies, catheters, nutritional formulas, support braces, and others. DME suppliers also help patients in understanding the operation of certain medical equipment.
Global durable medical equipment market is expected to witness significant growth in the coming years, as per a prediction by the Global Market Insights, Inc. Given below are some key benefits augmenting their demand.
Preference for home-based healthcare services
The durable medical equipment market has robust presence across ambulatory surgical centers, hospitals, home healthcare, and others. The market value from home healthcare segment was over US$60 billion in 2019. Home-based equipment is lashed with high-end monitoring technologies. The growing integration of modern technologies with durable medical equipment will boost industry growth.
Home healthcare services with durable medical equipment immensely helps patients in availing effective treatment without traveling to hospitals. Patients with mobility issues highly rely on DME facilities to get advanced treatment in homes.
To access sample pages of this report titled, “Durable Medical Equipment Market Size By Product (Personal Mobility Devices {Wheelchair and Scooter, Crutches and Canes, Walker}, Monitoring and Therapeutic Devices {Oxygen Equipment, Blood Glucose Analyzers, Vital Sign Monitors, Infusion Pumps, Continuous Positive Airway Pressure [CPAP] Devices Nebulizers}, Bathroom Safety Devices, Medical Furniture, Incontinent Pads, Breast Pumps, Catheters, Consumables and Accessories), By Payer (Public, Private, Out-of-Pocket), By End-use (Hospitals, Home Healthcare, Ambulatory Surgical Centers), Industry Analysis Report, Regional Outlook, Growth Potential, Price Trends, Competitive Market Share & Forecast, 2020 – 2026” in detail along with the table of contents, please click on the link below:
https://www.gminsights.com/request-sample/detail/3894
Demand for covered equipment
The wide range of durable medical equipment covered under various healthcare insurances facilitates patients in getting affordable treatment at homes. These coverage policies adhere to certain regulations that fall under the viability, durability, purpose, and usability of DME.
Upon getting approval from a certified physician and insurance providers, suppliers of DME supplies medical equipment to the patients. There are numerous medical equipment providers across the globe, who can be approached through an online search. These DME providers help in finding appropriate medical devices best suited for a healthy and comfortable life.
Application of catheter in prostate problems
The durable medical equipment market, based on the product is segmented into therapeutic devices, monitoring equipment, medical furniture, catheters, personal mobility devices, bathroom safety devices, breast pumps, incontinent pads, consumables, accessories, and others. The catheters segment, in terms of market valuation, was accounted for over US$40 billion in 2019.
Medical catheters are used to drain fluids, pus, or urine from the body. Owing to the rising number of people suffering from prostate problems, the demand for catheters will escalate in the upcoming years.
Easy accessibility of fund sources
Based on the payer, the durable medical equipment market is classified into out-of-pocket, private, and public. The out-of-pocket payer segment will grow at a 5.5% CAGR in the coming years. Out-of-pocket expenses are referred to the individual cost.
The availability of a wide array of fund sources helps individuals to avail DME benefits according to their needs. Easy accessibility of these fund sources helps in reducing out-of-pocket costs and also make people aware about several discount benefits to disabled and elderly people.
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