The Insight Partners market research study titled “Durable Medical Equipment Market Forecast to 2027 – Global Analysis – by Device Type, End User, and Geography,” the global durable medical equipment market analysis is expected to reach US$ 291,529.57 million by 2027 from US$ 170,885.52 million in 2018; it is estimated to grow at a CAGR of 6.5% during 2019–2027.
The report highlights trends prevailing in the market and factors driving its growth. The durable medical equipment market growth is attributed to growing prevalence of chronic disease, rising healthcare expenditure, and rising penetration of home healthcare services. However, high equipment cost, high maintenance, and lack of skilled professionals to handle the equipment may hinder the growth of market.
North America accounted for the largest market in the durable medical equipment with the US holding the largest market share, followed by Canada. The market for durable medical equipment in the US is expected to grow owing to the rise in the prevalence of cardiovascular disorders, lung disorders, and cases of sleep apnea. A rise in the cases of cardiovascular disorders during recent years has been observed in the US. As per the data collected by the American Heart Association (AHA), in 2016, around 15.5 million people aged 20 years and above across the US had chronic heart diseases (CHD). Also, recent data collected for cardiac diseases by the American Heart Association states that in 2018, one out of every three deaths is caused due to cardiovascular diseases. Nearly 2,300 Americans die owing to cardiovascular disease, and an average of one death is recorded every 38 seconds.
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Leading Durable Medical Equipment Market Players:
- Invacare Corporation
- Medtronic
- BD
- Hillrom Services Inc
- Medical Depot, Inc
- GF HEALTH PRODUCTS, INC.
- Sunrise Medical (US) LLC
- Medline Industries, Inc.
- Koninklijke Philips N.V
- ResMed
The report highlights the prevailing trends and the factors driving the market growth. Favorable government policies and technological advances, such as the innovation of Durable Medical Equipment pens, are expected to aid Durable Medical Equipment demand over the next few years. However, uneven pricing coupled with the emerging economies witnessing limited access to human Durable Medical Equipment may hamper the market in the near future.
Durable Medical Equipment Market: Segmental Overview
Device Type-Based Insights
The global durable medical equipment market, based on device type, is segmented into personal mobility devices and monitoring & therapeutic devices. The monitoring & therapeutic devices segment was the largest among the device type subsegments in 2018. However, the personal mobility devices segment is expected to witness the fastest CAGR during 2019–2027.
End User-Based Insights
The global durable medical equipment market, based on end user, is segmented into hospitals & clinics, ambulatory care centers, and home healthcare. The hospitals & clinics segment was the largest among the end-user subsegments in 2018. However, the home healthcare segment is expected to witness the highest growth during 2019–2027.
Reason to Buy
- Save and reduce time carrying out entry-level research by identifying the growth, size, leading players and segments in the global Durable Medical Equipment Market
- Highlights key business priorities in order to assist companies to realign their business strategies.
- The key findings and recommendations highlight crucial progressive industry trends in the Durable Medical Equipment Market, thereby allowing players to develop effective long term strategies.
- Develop/modify business expansion plans by using substantial growth offering developed and emerging markets.
- Scrutinize in-depth global market trends and outlook coupled with the factors driving the market, as well as those hindering it.
- Enhance the decision-making process by understanding the strategies that underpin commercial interest with respect to products, segmentation and industry verticals.
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The Insight Partners is a one stop industry research provider of actionable intelligence. We help our clients in getting solutions to their research requirements through our syndicated and consulting research services. We specialize in industries such as Semiconductor and Electronics, Aerospace and Defence, Automotive and Transportation, Biotechnology, Healthcare IT, Manufacturing and Construction, Medical Device, Technology, Media and Telecommunications, Chemicals and Materials.
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