The Global
Durable Medical Equipment (DME) Market is
projected to witness remarkable growth in the coming years owing to increasing
cases of diseases requiring long-term care. Chronic diseases, such as cancer,
diabetes, and neurological conditions, are boosting the demand for surgical
procedures, which call for a wide range of medical equipment. Such medical tools
are expensive owing to high risk associated with complex medical procedures.
This has, in turn, fueled the demand for durable medical equipment that can be
used for long-term care.
Rising
cases of cardiovascular and neurological disorders, and growing need for
surgical procedures are anticipated to propel demand for durable medical
equipment. Alzheimer, epilepsy, and Parkinson’s disease are the common
neurological disorders affecting people across the globe. In addition,
increasing prevalence of cancer and chronic conditions, such as diabetes, in
geriatric population can impel the product demand. High penetration of home
healthcare services can also contribute to market growth. Shifting preference
for post-operative recovery at home among patients to avoid infections can
stimulate market growth. Moreover, constant technological developments by
manufacturing companies can impel market expansion in the coming years.
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Increasing
adoption of minimally invasive surgeries and reduction in the number of beds in
public hospitals can hamper market growth. In addition, regulatory approval for
the commercialization of specific DME and issues related to reimbursement
against the purchase of DME can obstruct growth of the market. However,
supportive government initiatives to speed up approvals for manufacturers can
create lucrative opportunities for the market.
The market
can be segmented on the basis of product type and end users. Based on product
type, the market can be categorized into personal mobility devices, bathroom
safety devices, monitoring and therapeutic devices and medical furniture. On
the basis of end user, the market can be divided into hospitals, ambulatory
surgical centers, home care settings, and long-term care centers.
The market
in Asia Pacific is anticipated to expand significantly in the coming years
owing to high R&D investments by healthcare companies and government.
Rising cases of life-threating disorders, such as cancer, can impel regional
market growth. Growth of the healthcare sector, coupled with rising per capita
expenditure on healthcare, can augment demand for DME in the region. Launch of
innovative products by local manufacturing companies can gain traction among
consumers. For instance, Roche Diabetes Care India launched a glucometer named
Accu-Chek Instant S at an affordable price. The device can show blood sugar
reading in less than 4 seconds using a small blood sample. Different color
indicators, such as blue, green, and red, can tell users regarding glucose level
range. The device can automatically synchronize all blood glucose readings
through USB to the Accu-Chek Connect Online Portal.
North
America is expected to witness substantial growth in the coming years owing to
presence of well-developed healthcare infrastructure. High prevalence of
diabetes and cancer can also impel demand for healthcare devices that are
durable in nature. Presence of major manufacturing companies offering
technologically advanced products can stimulate regional market growth. For instance,
Dynarex launched its new products, namely Gloves in a Bag and XeroBurn Burn
Gel. These gloves can be arranged easily in any kit and are available in both
one and two pair packs. In addition, these gloves are available in one standard
size- large, and are non-sterile and powder-free. The balm can be used to
relieve the pain of all kinds of burns. It contains Lidocaine that provides
quick relief to patients.
Some of the
leading companies operating in the durable medical equipment market are
Medtronic, Stryker Corporation, Dickinson and Company, Becton, and Sunrise
Medical LLC.
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