Global Durable Medical Equipment Market was estimated to grow at 6.2% CAGR during the forecast period owing to the increasing prevalence of chronic diseases says, Absolute Markets Insights

Drugs and equipment have major impact on the quality of patient care and accounts for a major proportion of health care costs. Health service organizations is entitled to make decisions about which equipment to buy in order to satisfy major health requirements and remove wastage of resources. Many organizations have produced useful information about essential drugs, but less information is available about essential medical supplies and equipment. But the presence of wide number of different brands and items to choose from, this often results in procurement of items that are inappropriate because they are technically unsuitable, incompatible with existing equipment and some of the spare parts and consumables are not available.

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Rising prevalence of cardiac issues, neurological disorders, and other chronic diseases will drive the growth of the durable medical equipment market. Better reimbursement norms associated with durable medical equipment products also helps in the overall growth of the durable medical equipment market. Moreover, increasing number of elderly care centers due to rising elderly population across the world is expected to drive the durable medical equipment market during the forecast period.

Elder people who are have low immunity are more prone to cardiac, and neurological issues, which demands long term diagnosis. According to the data published by United Nations in 2017, population aged above 60+ years was almost 960 million, which accounted for 13.0% of the world population. Durable medical equipment is projected to play a major role an in chronic care after surgery at home. This further boosts the durable medical equipment market growth. On the other hand, stringent regulatory procedures in developed economies like United States and the lack of skilled professionals in developing nations are limiting the growth of the durable medical equipment market during the forecast period.

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Key Findings of the Report:
o Some of the key companies in this durable medical equipment market include Invacare Corporation; ArjoHuntleigh; Stryker Corporation; Hill Rom, Inc.; Drive Medical; GF Health Products, Inc.; Sunrise Medical; Medline Industries, Inc.; and Carex Health Brands, Inc. These firms focus on strategic acquisitions, agreement, and partnerships for business development.

o For instance, in January 2019, Medical Imaging Corp., a provider of medical supplies to the U.S. and Canadian hospitals, acquired Sandy Shores Medical, Inc., a supplier of DME products.

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Global Durable Medical Equipment Market:

o Device type
o Personal Mobility Devices,
o Medical Furniture and Bathroom Safety Devices,
o Monitoring and Therapeutic Devices

o By End-user
o Hospital/Clinic
o Ambulatory Surgical Center
o Other End Users

o By Geography
o North America
? U.S
? Canada
? Mexico
? Rest of North America
o Europe
? France,
? The UK
? Spain
? Germany
? Italy
? Nordic Countries
? Benelux Union
? Rest of Europe
o Asia Pacific
? China
? Japan
? India
? New Zealand
? Australia
? South Korea
? Southeast Asia
? Rest of Asia Pacific
o Middle East and Africa
? Saudi Arabia
? UAE
? Egypt
? Kuwait
? South Africa
? Rest of Middle East & Africa
o Latin America
? Brazil
? Argentina
? Rest of Latin America

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Absolute Markets Insights assists in providing accurate and latest trends related to consumer demand, consumer behavior, sales, and growth opportunities, for the better understanding of the market, thus helping in product designing, featuring, and demanding forecasts. Our experts provide you the end-products that can provide transparency, actionable data, cross-channel deployment program, performance, accurate testing capabilities and the ability to promote ongoing optimization.
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