Durable Medical Equipment Market - Need to Induct Advanced Infrastructure across Medical Facilities to Propel Demand

The rising focus on home care settings for the management of medical conditions and illnesses in patient populations and the growing awareness about elevating patients’ comfort are the key factors driving the evolving demand for durable medical equipment (DME) in various parts of the world. The use of DME is mainly associated with therapeutic benefits and convenience to patients and are not intended for non-medical uses. The rising coverage and reimbursement of durable medical equipment and related services and the growing number of favorable medical policies, especially in developing and developed countries, are factors supporting the rapid expansion of the market. The rising elderly populations who need care is also favoring the uptake of durable medical equipment, witnessed in burgeoning elderly care centers in recent years.

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Constant technological advancements by manufactures of durable medical equipment will continue to open new frontiers in the global market. Coupled with this, the rapid pace of commercialization of better durable medical equipment is expected to influence the market growth trajectories over the assessment period. The global durable medical equipment market stood at US$112.30 million in 2016 and is projected to reach a worth of US$228.65 million by 2025 end. The global market is anticipated to expand at a promising CAGR of 8.3% during 2016–2025.

Rise in Incidence of Chronic Ailments bolsters Demand for Monitoring and Therapeutic Devices

Based on equipment type, the durable equipment type is segmented into monitoring and therapeutic devices, bathroom safety devices, personal mobility devices, and medical furniture. Of these, the monitoring and therapeutic devices segment is anticipated to rise at the most attractive CAGR over 2016–2025. The demand for durable medical equipment for monitoring and therapeutics is driven by the extensive demand for managing chronic ailments, particularly diabetes. A burgeoning patient populations with such diseases has propelled the demand for equipment for therapeutic interventions in home care settings, thus fueling the growth of the segment. Monitoring and therapeutic devices are further segmented into blood glucose monitors, oxygen equipment, vital sign monitors, and infusion pumps.

The bathroom safety devices segment is also expected to rise at a promising growth rate over the assessment period. This is attributed to the rising incidence of traumatic injuries and sports injuries. The demand for these durable medical equipment is also bolstered by the growing prevalence of respiratory, oral, orthopedic, and cardiovascular diseases. Technology advancements have upped the safety and comfort of these equipment. The market for medical furniture DME is further segmented into mattress, medical beds, stretchers, and lift chairs, while the broad types of personal mobility devices are wheelchairs, crutches and canes, and walkers.

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Hospitals contribute Sizeable Demand Share among End Users of Durable Medical Equipment

Based on end user for durable medical equipment, the market is segmented into hospitals, long-term care centers, ambulatory surgical centers, and home care settings. Of these, the hospital segment led the end user market for durable medical equipment in 2016. This is attributed to a rapidly growing number of hospitals in various parts of the world. Combined with this, rising governmental initiatives in several countries in improving the health care industries is also bolstering the demand for DME in hospitals. Sizeable investments in the industries in several emerging economies is supporting the growth of the segment. Meanwhile, the demand for DME in homecare settings is also rising at a substantial pace over the assessment period.

Demand rising at Promising Pace in Asia Pacific

The various regional markets for durable medical equipment are North America, Europe, Asia Pacific, the Middle East and Africa, and Latin America. Of these North America held the sway in 2016 and was trailed by Europe. The presence of robust healthcare infrastructures plays a potentially positive role in the expansion of these developed markets over the assessment period.

On the other hand, abundant opportunities are emerging in the Asia Pacific durable medical equipment market. This is largely fueled by the rapidly rising incidence of various cancer types. Moreover, the regional market has been potentially benefitting from the rising demand for invasive and non-invasive monitoring devices. The burgeoning demand for negative pressure wound therapy (NPWT) pumps and oxygen equipment over the past few years in the region is a case in point.

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