Durable Medical Equipment (DME) Market is Anticipated to Expand at a Promising CAGR of 8.3% between 2016-2025

The demand within the global market for durable medical equipment (DMI) has been rising on account of the adoption of advanced technologies in the healthcare sector, finds Transparency Market Research (TMR). The market players in the global durable medical equipment (DMI) market have been recalibrating their production capacities to accommodate the needs of all types of patients. The market vendors in the global market for durable medical equipment (DMI) market currently bank on the quality and utility served by their products. The overall dynamics of the global durable medical equipment (DMI) market are such that all the recognised vendors have a fair share of revenues in their kitty.

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The bar of competition in the global durable medical equipment (DMI) market has been on a rise over the past decade. This can be attributed to the quest of the vendors to increase their margin of profit and consolidate their financial position. Furthermore, the leading vendors in the global durable medical equipment (DMI) market are projected to acquire the smaller players with the intent to increase their geographical reach. Mergers and strategic partnerships could also be a recurring trend in the global durable medical equipment (DMI) market in the years to come.

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A report by Transparency Market Research (TMR) prognosticates that the global durable medical equipment (DMI) market would expand at a healthy CAGR of 8.30% over the period between 2016 and 2025. Furthermore, the global durable medical equipment (DMI) market was valued at US$112.30 million in 2016, and is expected to escalate to a value of US$228.65 million by the end of 2025. On the basis of geography, the market for durable medical equipment (DMI) in North America is expected to expand at a paced rate. Based on equipment type, personal mobility devices are expected to attract commendable demand in the coming years.

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Need to Induct Advanced Infrastructure across Medical Facilities to Propel Demand

The past few decades have been an era of unparalleled growth for the medical fraternity, and this is evident from the huge-scale spending made towards developing better infrastructural facilities in the industry. Hence, the demand within the global market for durable medical equipment (DMI) has been escalating at a boisterous rate in recent times. Furthermore, the rising incidence of paralytic disorders has created an indispensable need for wheelchairs and canes. This factor has also propelled market demand, and has given an impetus to the growth of the vendors operating in the global durable medical equipment (DMI) market.

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Government Spending to Propel Market Demand

Public health has emerged as an integral industry for the government, and the latter is making huge investment towards the development of better public health facilities. This factor is projected to bring in voluminous revenues into the global durable medical equipment (DMI) market in the forthcoming years. The healthcare sector of several regions is closely regulated by the government; and hence, the market for durable medical equipment has expanded on account of the proactive nature of government entities. It is, therefore, safe to prognosticate that the market for durable medical equipment lucrative growth opportunities for the vendors.

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Transparency Market Research (TMR) is a global market intelligence company providing business information reports and services. The company's exclusive blend of quantitative forecasting and trend analysis provides forward-looking insight for thousands of decision makers. TMR's experienced team of analysts, researchers, and consultants use proprietary data sources and various tools and techniques to gather and analyze information.

This release was published on openPR.