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Durable Medical Equipment Market is Expected to Reach US$ 228.65 Million by the End of 2025

Durable Medical Equipment Market

, 12 April 2018 -- Durable Medical Equipment (DME) Market growth is driven by rising incidence of cancer, aging population, and rising preference for invasive as well as non-invasive monitoring devices such as negative pressure wound therapy (NPWT) pumps, oxygen equipment among and the growing number of investments by governments of developing economies to better the healthcare sector.

Transparency Market Research observes that the global durable equipment market is reasonably fragmented due to a strong presence of several players. The key players contributing to the market dynamics are Stryker Corporation, Medtronic plc., Baxter International, Inc., Becton, Dickinson and Company, Invacare Corporation, Medline Industries, Inc., Sunrise Medical (US) LLC, Drive DeVilbiss Healthcare, Inc. (Medical Depot Inc.), ResMed, Inc., and Hill-Rom Holdings, Inc. Companies are expected to focus on developing customized solutions to cater to individual needs of the end users to maintain a place in the highly competitive market.

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According to Transparency Market Research, the global durable medical equipment (DME) market is expected to be worth US$228.65 mn by the end of 2025 from US$112.30 mn in 2016. During the forecast period of 2017 and 2025, the global market is expected to surge at a CAGR of 8.3%. Amongst the various types of equipment, the bathroom safety devices are expected to drive the global market. Increasing awareness about ensuring bathroom safety, especially within households, to avert traumatic injuries is expected to favor this segment in the near future. Geographically, Asia Pacific is expected to lead the global market in the coming years. The increasing geriatric population in this region is expected to drive the market.

The growing awareness about patient’s comfort has given the global durable medical equipment market a much-needed impetus. The devices available in this market are predominantly meant for therapeutic use and are designed in way to alleviate the discomforts of the illnesses. Commercialization of sturdy equipment that has recurring uses has encouraged several end users to investment in various types of durable medical equipment over the years. The growing community of home caregivers are have propelled the demand for wheelchairs, commodes, and toilet rails amongst others. Furthermore, mushrooming elderly care centers are expected to be stoke the demand for durable medical equipment in the coming years.

Read Report Overview @ https://globenewswire.com/news-release/2018/02/01/1329942/0/en/Durable-Medical-Equipment-DME-Market-to-reach-US-228-65-mn-by-2025-globally-Transparency-Market-Research.html

Firm investments by durable medical equipment (DME) industries and close cooperation of government, national institutes, and physicians with vigorous hands-on training for medical professionals, improving lifestyle, increasing demand and adoption rate of high end technology devices and equipment, has brought about technology enhancement and increased value for money in durable medical equipment (DME) market. The high incidence of chronic conditions such as cancer, cardiovascular diseases, and other disabilities are also projected to up the usage of durable medical equipment in home care settings as well as hospitals. Regions with high and growing geriatric population are anticipated to be fertile grounds for the growth of this market in the coming years.

On the flip side, the global durable medical equipment market is expected to witness a few impediments along its growth trajectory. To begin with availability of counterfeit equipment and low barrier for entry of newcomers are expected to eat into the market shares of existing players. Bigger companies are also likely to be affected by cost-sensitive markets that tend to incline toward makeshift or cheaper solutions. Furthermore, high durability of medical equipment will also discourage end users from buying or upgrading to new equipment, thereby negatively impacting sales.

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About Us

Transparency Market Research is a next-generation market intelligence provider, offering fact-based solutions to business leaders, consultants, and strategy professionals.

Our reports are single-point solutions for businesses to grow, evolve, and mature. Our real-time data collection methods along with ability to track more than one million high growth niche products are aligned with your aims. The detailed and proprietary statistical models used by our analysts offer insights for making right decision in the shortest span of time. For organizations that require specific but comprehensive information we offer customized solutions through adhoc reports. These requests are delivered with the perfect combination of right sense of fact-oriented problem solving methodologies and leveraging existing data repositories.

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Submitted by hawer on Thursday, 12 April 2018 at 6:46 PM
Category: Health Care & Medical
 
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