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Durable Medical Equipment Market Future Challenges and Industry Growth Outlook by 2020-2026

Author : Ronak Bora | Published Date : 2020-09-04 

Durable Medical Equipment Market report offers in-depth analysis of the industry size, share, major segments, and different geographic regions, forecast for the next five years, key market players, and premium industry trends. It also focuses on the key drivers, restraints, opportunities and industry challenges.

With growing preferences for home-based care, the global durable medical equipment market is expected to chalk out remunerative growth trend over the coming years through a diverse array of verticals.

Durable medical equipment is an equipment that serves a particular medical purpose, is able to survive repeated use, and is also suitable for being used in-home care settings. These medical devices are equipped with high-tech monitoring and feedback technologies that ultimately reduces the dependency of patients on professional caregivers and family.

Home care settings include skilled nursing care along with several health services, which are carried out specifically at the patient’s home for effective as well as better treatment of illness or injury. These aforementioned facets are likely to lead to a rise in patient preferences towards home-based care and further drive market growth.

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Based on Global Market Insights, Inc., estimates, the global durable medical equipment market size is set to exceed $275 billion by 2026.

Based on product spectrum, durable medical equipment market is bifurcated into bathroom safety devices, incontinent pads, catheters, personal mobility devices, consumables & accessories, breast pumps, monitoring & therapeutic devices, and medical furniture. Among these, in 2019, personal mobility devices segment accounted for more than $18 billion and is anticipated to witness similar growth patterns in the ensuing years.

Personal mobility devices segment can be further divided into crutches & canes, wheelchair & scooter, walkers, and others. A large patient pool recorded to suffer from some kind of disability will enhance the adoption of wheelchair & scooters. A colossal part of the population is experiencing disability due to accidental injuries, which will escalate durable medical equipment industry size.  

Elaborating on the payer segment, durable medical equipment market is segmented into private, out-of-pocket, and public payers. Medicare provided by public payers includes durable medical equipment that caters to the medical purpose and can be used repeatedly. Also, they provide a myriad range of plans with a plethora of benefits on durable medical equipment for efficient care of patients. This can be validated by the exemplary efforts of the Spanish National Health System. The service provider offers universal healthcare for free, which will induce demand for public payer segment. In this order, public payer segment is expected to register a 5% CAGR over the forecast period.

Europe is witnessing rising disposable income and growing healthcare expenditure in recent times. Development of healthcare infrastructure and an upsurge in the affordability of people for advanced treatments are anticipated to play a major role in the growth of Europe durable medical equipment industry. Such driving factors had led Europe durable medical equipment industry to account for more than $38 billion in revenue in 2019.  

Browse full table of contents (TOC) of this report @ https://www.gminsights.com/toc/detail/durable-medical-equipment-dme-market

Partial Chapter of the Table of Content 

Chapter 5. Durable Medical Equipment Market, By Payer

5.1. Key segment trends

5.2. Public

5.2.1.  Market size, by region, 2015 – 2026

5.3. Private

5.3.1.  Market size, by region, 2015 – 2026

5.4. Out-of-pocket

5.4.1.  Market size, by region, 2015 – 2026

Chapter 6. Durable Medical Equipment Market, By End-use

6.1. Key segment trends

6.2. Hospitals

6.2.1.  Market size, by region, 2015 – 2026

6.3. Home healthcare

6.3.1.  Market size, by region, 2015 – 2026

6.4. Ambulatory surgical centers

6.4.1.  Market size, by region, 2015 – 2026

6.5. Others

6.5.1.  Market size, by region, 2015 – 2026

About Author

Ronak Bora

Ronak Bora

A graduate in Electronics Engineering, Ronak writes for fractovia and carries a rich experience in digital marketing, exploring how the online world works from a technical and marketing perspective. His other areas of interest include reading, music, and sport. [email protected] | https://twitter.com/RonakBora26

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