Durable Medical Equipment Market is Projected to Witness a Steady Growth by 2026 – Lead By Stryker Corporation, Medtronic plc., Baxter International, Inc., Medline Industries, Inc.
New York, NY 27 August 2019 :According to a new study published by Polaris Market Research the global durable medical equipment (DME) market is anticipated to reach USD 246.6 billion by 2026. Durable Medical Equipment (DME) is provides beneficial benefits to a patient in need because of certain illnesses or/ and medical conditions. The durable medical equipment is primarily used to serve a medical purpose. They can be used at home and they are reusable.
The technological advancement in medical equipment is one of the key factors responsible for growth of durable equipment market globally. The progress in medical equipment technologies has helped in advance and treatment diagnosis. For example, for blood sugar testing, urine test was used. But these days, introduction of blood glucose strips made easy detection of sugar level in blood. Moreover, rising geriatric population also increases the demand for durable medical equipment. The old people are more susceptible to chronic diseases that require extensive care. According to World Health organization, the number of people aged 60 or above is projected to reach 1.5 billion by 2050. The WHO says, between 2015 and 2050, the proportion of the world’s population over 60 years will almost double from 12% to 22%.
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The global durable medical equipment (DME) market is segmented on the basis of device type, end user, and by region. By device type, the global durable medical equipment market is further segmented into three major categories, which includes therapeutic and monitoring devices, personal mobility devices, and medical furniture and bathroom safety devices. The therapeutic and monitoring segment is further segmented into, infusion pumps, nebulizers, blood glucose monitors, oxygen equipment, and other devices. The therapeutic and monitoring segment estimated to grow at high pace during the forecast period. The personal mobility devices segment is further categorized into, Walker and rollators, Scooters, Wheelchairs, Door openers, and other devices. The personal mobility devices are estimated to account major share in global durable medical equipment market in 2017. On the basis of medical furniture and bathroom safety devices, the global durable medical equipment market is further segmented into, Bedding & mattresses devices, and commodes and toilets.
By end user, the global durable medical equipment (DME) market is further sub segmented into Hospitals, specialty clinics, ambulatory surgical centers, diagnostic centers, home healthcare, and others. On the basis of end user, the hospital segmented is expected to hold high share in global durable medical equipment market. The easy availability of medical devices in hospitals is the key factor responsible for high share of the segment in the global durable medical equipment market.
On the basis of geography, the global durable medical equipment market is segmented into five major regions, North America, Europe, Asia Pacific, Latin America, and Middle East& Africa. The North America is estimated to account major share in global durable medical equipment market. The Asia Pacific is expected to grow at high CAGR over the forecast period in the global durable medical equipment market.
The major players in the durable medical equipment (DME) market include as Stryker Corporation, Medtronic plc., Baxter International, Inc., Medline Industries, Inc., Becton, Dickinson and Company, Sunrise Medical (US) LLC, Invacare Corporation, ResMed, Inc., Hill-Rom Holdings, Inc., among other players.
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About Polaris Market Research
Polaris Market Research is a global market research and consulting company. The company specializes in providing exceptional market intelligence and in-depth business research services for our clientele spread across different enterprises. We at Polaris are obliged to serve our diverse customer base present across the industries of healthcare, technology, semi-conductors and chemicals among various other industries present around the world. We strive to provide our customers with updated information on innovative technologies, high growth markets, emerging business environments and latest business-centric applications, thereby helping them always to make informed decisions and leverage new opportunities. Adept with a highly competent, experienced and extremely qualified team of experts comprising SMEs, analysts and consultants, we at Polaris endeavour to deliver value-added business solutions to our customers.