23-April-2019: The global durable medical equipment (DME) market
size is expected to reach USD 271.0 billion by 2026 registering a CAGR of 6.1%,
according to a new report by Grand View Research, Inc. The market is primarily
driven by rise in chronic diseases, such as kidney failures and cancer.
Moreover, technological advancements along with strong reimbursement scenario
will boost the DME market further. For instance, in January 2019, WHILL, Inc.,
a U.S.-based personal electric vehicle, introduced new technology WHILL autonomous
drive at the Consumer Electronic Sow held at the Las Vegas. In the past,
Medicare has taken steps to bring reimbursement of DME products in line with
other payers.
In this direction, in December
2015, the Center for Medicare & Medicare Services (CMS) issued a new rule
of prior authorization process for DME, Prosthetics, Orthotics, and Supplies
(DMEPOS). The DMEPOS includes the master list of 135 items, which require prior
authorization before beneficiary receives an item. In addition, growing geriatric
population across the globe is likely to contribute to the industry expansion.
People aged 60 years or above are more prone to health issues, such as
diabetes, mobility issues, Cardiovascular Diseases (CVDs), and other lifestyle
problems. This creates demand for DME products. However, stringent regulatory
guidelines in developed economies and lack of skilled professionals may limit
the durable medical equipment market growth.
In depth research report on Durable Medical
Equipment Market
Further
key findings from the study suggest:
· Personal
mobility devices emerged as the largest segment owing to the launch of
technologically advanced products with more comfort and portability
· Nursing
homes is anticipated to be the fastest-growing segment over the study period as
these facilities offer custodial care like skilled care, such as bathing and
dressing
· Europe
led the market with the largest share in 2018 and will witness a steady growth
in future on account of the presence of major companies in the region
· Asia
Pacific is expected to register the highest CAGR from 2019 to 2026 owing to the
presence of a large target population base and improving healthcare facilities
· Some of
the key companies in the global DME market are Invacare Corporation;
ArjoHuntleigh; Stryker Corporation; Hill Rom, Inc.; Drive Medical; GF Health
Products, Inc.; Sunrise Medical; Medline Industries, Inc.; and Carex Health
Brands, Inc.
Grand View Research has
segmented the global Durable Medical Equipment (DME) market on the basis of
product, end use, and region:
DME
Product Outlook (Revenue, USD Million, 2015 - 2026)
· Personal
Mobility Devices
· Wheelchairs
· Scooters
· Walker
and Rollators
· Cranes
and Crutches
· Door
Openers
· Other
Devices
· Bathroom
Safety Devices and Medical Furniture
· Commodes
and Toilets
· Mattress
and Bedding Devices
· Monitoring
and Therapeutic Devices
· Blood
Sugar Monitors
· Continuous
Passive Motion (CPM)
· Infusion
Pumps
· Nebulizers
· Oxygen
Equipment
· Continuous
Positive Airway Pressure (CPAP)
· Suction
Pumps
· Traction
Equipment
· Others
Equipment
DME
End Use Outlook (Revenue, USD Million, 2015 - 2026)
· Hospital
· Nursing
Homes
· Home
Healthcare
· Other
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more research reports of this category:
About
Grand View Research
Grand View Research, Inc. is a
U.S. based market research and consulting company, registered in the State of
California and headquartered in San Francisco. The company provides syndicated
research reports, customized research reports, and consulting services. To help
clients make informed business decisions, the company offers market
intelligence studies ensuring relevant and fact-based research across a range
of industries including technology, chemicals, materials, healthcare and
energy.
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