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Durable Medical Equipment (DME) Market Analysis On Trends and Need 2027

Transparency Market Research (TMR) has published a new report titled, ‘Durable medical equipment (DME) Market – Global Industry Analysis, Size, Share, Growth, Trends, and Forecast, 2019–2027’. According to the report, the global durable medical equipment (DME) market was valued at US$ 153.1 Bn in 2018 and is projected to expand at a CAGR of 6.2% from 2019 to 2027.

Overview

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High Incidence of Major Chronic Diseases and Increase in Geriatric Population to Drive Market

Growing incidence of cardiac disorders, cancer, ophthalmic ailments, gynecological complications and neurological conditions helps to drive the product demand over the forecast period. Better coverage and reimbursement policies for DME products are also likely to help boost the DME market growth.

In addition, rising number of elderly care centers as a result of increasing geriatric population base across the globe is projected to drive the DME market further. Adults have low immunity level and more prone to cardiac, skeletal and neurological problems, which increases the need for long-term hospital stay for recovery. According to a report by the U.S. Census Board in 2016, people aged 60 years or above represented nearly 18% of the country’s total population and the percentage is projected to increase to 21% by 2030. Such factors is likely to drive the growth of this market

Personal Mobility Devices Segment to Dominate Market

Based on equipment type, the global durable medical equipment (DME) market has been divided into personal mobility devices, bathroom safety devices, medical furniture and monitoring and therapeutic devices. The personal mobility devices segment has been bifurcated into medical beds, matress, strechers, lift chairs and others. The combination pills segment dominated the global durable medical equipment (DME) market in 2018 and the trend is projected to continue during the forecast period. Rising incidence rates of infectious and chronic diseases such as sexually transmitted and chronic obstructive pulmonary diseases, diabetes, and cancer are major factor for to boost the market growth. In addition, increasing demand for medical beds, matress, strechers, lift chairs in countries like India, China due to rising number of hospital.

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Hospitals to be Highly Lucrative Segment

In terms of end-user, the global durable medical equipment (DME) market has been classified into hospitals, long term care centers, ambulatory surgical centers, home care setting and others. The hospitals segment dominated the durable medical equipment (DME) market due to increasing number of hospitals and rising investments in the health care sector by governments of developing countries are likely to fuel the segment during the forecast period.

North America to Dominate Global Market

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Competitive Landscape

The global Durable medical equipment (DME) market is fragmented in terms of number of players. Key players in the global market include Stryker Corporation, Medtronic plc., Medline Industries, Inc., BD, Hill-Rom Holdings, Inc., Drive DeVilbiss Healthcare, Inc., Invacare Corporation, Sunrise Medical (US) LLC, and ResMed, Inc.

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