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At 6.5% of CAGR, Durable Medical Equipment Market Analysis by Rising Demand with Continuous Technological Advancements till 2027

10-18-2019 02:10 PM CET | Health & Medicine

Press release from: The Insight Partners

The Insight Partners

The Insight Partners

The Global Durable Medical Equipment market, based on device type, was segmented as, personal mobility devices and monitoring & therapeutic devices. In 2018 monitoring & therapeutic devices held the largest share of the market, by device type, since they enable efficient diagnosis of medical conditions and also help in reducing the patient hospitalization time and also minimizes hospital visits.

According to a new market research study titled ‘Durable Medical Equipment Market to 2027 – Global Analysis and Forecasts by Device Type, End User, and Geography.’ The global durable medical equipment market is expected to reach US$ 291.53 Bn in 2027 from US$ 170.89 Bn in 2018. The market is forecasted to grow with a CAGR of 6.5% during 2019-2027. The report highlights the trends prevalent in the global durable medical equipment market and the factors driving the market along with those that act as deterrents to its growth.

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The report segments the Global Durable Medical Equipment Market as follows:

• Global Durable Medical Equipment Market – By Device Type
• Personal Mobility Devices
o Wheelchairs
o Scooters
o Walkers & Rollators
o Canes & Crutches
o Other Personal Mobility Devices
• Monitoring & Therapeutic Devices
o Blood Glucose Monitors
o Vital Signs Monitoring Devices
o Infusion Pumps
o Nebulizers
o Oxygen Equipment
o Continuous Positive Airway Pressure (CPAP)
o Cardiovascular Devices

• Global Durable Medical Equipment Market – By End User
• Hospitals & Clinics
• Ambulatory Surgical Centers
• Home Healthcare

Road accidents have been increasing significantly across the United States. Road crashes are among the leading annual cause of death of US citizens without any medical history. As per data published by the US Department of Transportation, in 2016, there were around 7,277,000 police-reported cases of accidents, out of which approximately 37,461 people were estimated to be killed and 3,144,000 were injured. The fatalities due to road accidents in the US has increased by almost 5.6% compared to the numbers of 2015.

As per the estimates by the CDC, road traffic injuries are the eighth driving cause of death worldwide. Moreover, it is estimated that by 2030, road traffic injuries will be the seventh, driving cause of death globally. Road accident injuries lead to a substantial economic burden on the lower and middle-income countries. For instance, it was expected that the approximate cost of US$ 518 billion across the globe and near around US$ 65 billion in the lower-income and middle-income countries.

Injuries caused due to road accidents lead to deformities, amputations of limbs, fractures of bone, and severe pain in the different parts of the body. Other conditions caused due to injuries include spinal cord paralysis, head brain injuries, facial disfigurement, wrist, and arm injuries. Personal mobility devices such as wheelchairs, walkers, canes, and crutches are advised for individuals that have been recovering from these road accidents.

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About Us - 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.

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