Growing aging population and increasing adoption of advanced medical equipment in developing countries are key factors driving growth of the global durable medical equipment market
Market Size – USD 192.93 Billion in 2020, Market Growth – at a CAGR of 5.8%, Market Trend – Technological advancements in medical equipment manufacturing
The global durable medical equipment market size is expected to reach USD 305.17 Billion in 2028 at a steady CAGR over the forecast period, according to latest analysis by Emergen Research.
The latest and updated research report on the Global durable medical equipment Market covers a comprehensive overview of the durable medical equipment market, future economic condition, competitive landscape mapping, supply and demand trends, and production and consumption analysis. The report also covers the influence of the COVID-19 pandemic on the durable medical equipment market. The pandemic has dynamically affected all aspects of life on a global scale along with drastic changes in the economy and market conditions.
The report covers key points of the market, including the standards, regulations, and policy changes applied by the government on the industry for the coming years. The report encompasses thorough research carried out by the application of advanced analytical tools such as SWOT analysis and Porter’s Five Forces analysis to pinpoint the growth trends and patterns. Factors likely to influence the growth of the market, current trends, opportunities, restraining factors, and business landscape are discussed in-depth in the market study.
The current COVID-19 pandemic is expected to have an effect on the growth of the durable medical equipment industry majorly attributable to the movement restrictions and impact on the supply and demand due to the lockdowns. The COVID-19 pandemic has affected several sectors of the global market, and the durable medical equipment sector is expected to feel the impact of the pandemic. The economic slowdown and dynamic changes in the demands will further affect the growth of the industry. The report covers the impact analysis of the COVID-19 pandemic on the overall durable medical equipment industry.
Some Key Findings from the Report:
- In February 2021, InfuSystem acquired FilAMed. This acquisition will help InfuSystem to broaden and enhance its biomedical services offerings within its DME platform and provide the opportunity for the company to enter into the acute care market.
- Hospital segment accounted for major revenue share among the other end-use segments in the global market in 2020. Rising number of hospitals and development in hospital infrastructure are the key factors driving revenue growth in this segment.
- Asia Pacific is expected to register the fastest CAGR throughout the forecast period, which can be attributed to rapid development in medical infrastructure, growing investment in medical equipment manufacturing, and rising adoption of advanced medical equipment.
- Key players operating in the market are Invacare Corporation, GE Healthcare, Stryker Corporation, Hill Rom, Inc., Drive Medical, GF Health Products, Inc., Sunrise Medical, Medline Industries, Inc., Carex Health Brands, Inc., and Intco Medical.
The report offers a comprehensive overview of the competitive landscape and covers company profiles, production and manufacturing capacity, product portfolio, expansion strategies, and business initiatives such as mergers and acquisitions, joint ventures, collaborations, partnerships, and product launches and brand promotions among others.
North America (U.S., Canada)
Europe (U.K., Italy, Germany, France, Rest of EU)
Asia Pacific (India, Japan, China, South Korea, Australia, Rest of APAC)
Latin America (Chile, Brazil, Argentina, Rest of Latin America)
Middle East & Africa (Saudi Arabia, U.A.E., South Africa, Rest of MEA)
durable medical equipment Market Segmentation:
For the purpose of this report, Emergen Research has segmented the global durable medical equipment market based on product type, payers, end-use, and region:
- Product Type Outlook (Revenue, USD Billion; 2018–2028)
- Bathroom Safety Devices and Medical Furniture
- Personal Mobility Devices
- Monitoring and Therapeutic Devices
- Payer Outlook (Revenue, USD Billion; 2018–2028)
- End-Use Outlook (Revenue, USD Billion; 2018–2028)
- Long Term Care Centers
- Home Care Settings
- Ambulatory Surgical Centers
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