Durable Medical Equipment Market
Global Durable Medical Equipment Market Research By Device type (Personal Mobility Devices, Monitoring and Therapeutic Devices, and Bathroom Safety devices and Other), By Payer (Private, Public and Other) and By End-User (Hospitals/Clinic, Ambulatory Surgical Center and Other) Forecast 2021-2027 Update Available - Forecast 2024-2030
The global durable medical equipment market is growing at a considerable CAGR of 6.5% during the forecast period. Rising technological advancements are considered as the prime factors affecting and driving the market. Additionally, the growing concerns associated with pervasiveness with a chronic disease that includes cancer, diabetes, cardiovascular diseases along with growing investment in the healthcare sector, are also estimated to be the key factors that are contributing significantly towards the growth of the market. However, a lack of skilled professionals is the major factor constraint that is hindering the growth of the global durable medical equipment market across the globe.
Moreover, an emerging focus on increasing surgical procedures along with favorable government policies also is one of the key factors that are creating opportunities in the market. New product launches in the market are likely to drive the growth of the global durable medical equipment market. For instance, in March 2021, Etac AB. had introduced and developed a new product that is Swift Mobil adapton. This is designed so that the user can easily improve leg room along with an easier approach for personal hygiene. The device is having adopter that offers as part of XL concept with extra-wide back frame with other attributes inbuilt in it to provide convenience for larger users.
Impact of COVID-19 Pandemic on the Global Durable Medical Equipment Market
The global durable medical equipment market is positively affected by the COVID-19 pandemic since December 2019. As the demand associated with durable medical equipment had risen for the purpose of enlarging the health care in treating the patients suffering especially from COVID-19 in hospital.
Segmental Outlook
The global durable medical equipment market is segmented based on device type, payer, and end-user. Based on device type, the market is segmented into personal mobility devices, monitoring and therapeutic devices, and bathroom safety devices, and other. By payer, the market is segmented into private, public, and other. Further, based on end-user the market is segmented hospitals/clinic, ambulatory surgical center, and other.
Global Durable Medical Equipment Market Share by Device Type 2020 (%)
Based on the device type segment, the monitoring and therapeutic devices hold a significant share in the market. Increasing pervasiveness associated with chronic diseases along with products that are emerging with advanced technology is one of the prime factors driving the growth of the segment in the market. Monitoring and therapeutic devices comprise oxygen equipment, blood glucose analyzers, vital sign monitors, infusion pumps, continuous positive airway pressure [CPAP] devices, nebulizers among others.
Regional Outlooks
The global durable medical equipment market is analyzed based on the geographical regions that are contributing significantly towards the growth of the market. Based on the geography, the market is segmented into North America, Europe, Asia-Pacific, and the Rest of the World. North America held a considerable share in 2020 in the global durable medical equipment market. In North America, the rising old age population is one of the prime factors affecting the growth of the market in the region. For instance, As per the data published by the American Cancer Society in October 2020, in the US around 1 in 10 people suffer from osteosarcomas that ages older than 60. So, the increasing rate of the pervasiveness of cardiovascular diseases and cancer along with the existence of a large number of players is some other main factors that are providing support to the growth of the market in the region.
Global Durable Medical Equipment Market, by Region 2021-2027
Asia-Pacific will have Considerable Growth in the Global Durable Medical Equipment Market
Asia-Pacific region is expected to witness significant growth opportunities for the market. Increasing initiatives by government across the region is likely to drive the growth of the regional market. Additionally, key market companies expanding their reach along with rising health care expenditure in this region, especially in South Korea, China, and India are also impacting the market. Additionally, increasing awareness among the population for the adoption of medical equipment for a better outcome is another factor that is also affecting the growth of the market.
Market Player Outlook
Key players of the global durable medical equipment market are General Electric Co., Johnson & Johnson Services, Koninklijke Philips, Medtronic, and Stryker. To survive in the market, these players adopt different marketing strategies such as product launches and mergers and acquisitions. For instance, in March 2021, Boston Scientific Corp. had set forth in entering a definitive agreement in order to acquire a company that develops a medical solution that is energy-based named Lumenis LTD. for around $1.07 billion in order to enlarge its portfolio.
In October 2020, Invacare Corp. had launched its new product of wheelchair that is concept folding power-chair which is made especially for suffered individuals so that they can make their lifestyle active and independent. This power chair can be easily lifted into the boot of the car and also into an apartment as its weight is considered to be less than 21KG without any sort of battery involved in it.
In July 2020, Invacare Corp. along with Alber had brought Smoov one wheelchair for users. The Wheel Chair is portable and for using insights of the wheelchair by the driver it has inbuilt rear-mounted power add-on. Additionally, for increasing mobility along with decreasing stress on the shoulder of its driver the chair is designed in such a way that it provides power assist design. Further, the chair has the single-drive wheel and its design is also user-friendly.
The Report Covers
• Market value data analysis of 2020 and forecast to 2027.
• Annualized market revenues ($ million) for each market segment.
• Country-wise analysis of major geographical regions.
• Key companies operating in the global durable medical equipment market based on the availability of data, information related to new product launches, and relevant news is also available in the report.
• Analysis of business strategies by identifying the key market segments positioned for strong growth in the future.
• Analysis of market-entry and market expansion strategies.
• Competitive strategies by identifying ‘who-stands-where in the market.
1. Report Summary
• Current Industry Analysis and Growth Potential Outlook
• Impact of COVID-19 on the Global Durable Medical Equipment Industry
• Recovery Scenario of Global Durable Medical Equipment Industry
1.1. Research Methods and Tools
1.2. Market Breakdown
1.2.1. By Segments
1.2.2. By Geography
2. Market Overview and Insights
2.1. Scope of the Report
2.2. Analyst Insight & Current Market Trends
2.2.1. Key Findings
2.2.2. Recommendations
2.2.3. Conclusion
3. Competitive Landscape
3.1. Key Company Analysis
3.1.1. Overview
3.1.2. Financial Analysis
3.1.3. SWOT Analysis
3.1.4. Recent Developments
3.2. Key Strategy Analysis
3.3. Impact of Covid-19 on Key Players
4. Market Determinants
4.1. Motivators
4.2. Restraints
4.3. Opportunities
5. Market Segmentation
5.1. Global Durable Medical Equipment Market by Device Type
5.1.1. Personal Mobility Devices
5.1.2. Monitoring and Therapeutic Devices
5.1.3. Bathroom Safety Devices
5.1.4. Other
5.2. Global Durable Medical Equipment Market by Payer
5.2.1. Private
5.2.2. Public
5.2.3. Other
5.3. Global Durable Medical Equipment Market by End-User
5.3.1. Hospitals/Clinic
5.3.2. Ambulatory Surgical Center
5.3.3. Other
6. Regional Analysis
6.1. North America
6.1.1. United States
6.1.2. Canada
6.2. Europe
6.2.1. UK
6.2.2. Germany
6.2.3. Italy
6.2.4. Spain
6.2.5. France
6.2.6. Rest of Europe
6.3. Asia-Pacific
6.3.1. China
6.3.2. India
6.3.3. Japan
6.3.4. South Korea
6.3.5. Rest of Asia-Pacific
6.4. Rest of the World
7. Company Profiles
7.1. ANTANO GROUP
7.2. Arjo
7.3. BD
7.4. Boston Scientific Corp.
7.5. COMPASS HEALTH BRANDS CORP.
7.6. Cardinal Health
7.7. Etac AB.
7.8. Fresenius Medical Care
7.9. GENERAL ELECTRIC CO.
7.10. GF HEALTH PRODUCTS, INC.
7.11. Hill-Rom Services, Inc.
7.12. Invacare Corp.
7.13. Johnson & Johnson Services, Inc.
7.14. Koninklijke Philips NV
7.15. Medline Industries, Inc.
7.16. Medtronic
7.17. MEYRA GmbH
7.18. OTTOBOCK
7.19. Permobil
7.20. Siemens Healthcare GmbH
7.21. Sunrise Medical
7.22. Stryker
1. GLOBAL DURABLE MEDICAL EQUIPMENT MARKET RESEARCH AND ANALYSIS, 2020-2027 ($ MILLION)
2. GLOBAL DURABLE MEDICAL EQUIPMENT MARKET BY DEVICE TYPE, 2020-2027 ($ MILLION)
3. GLOBAL PERSONAL MOBILITY DEVICES MARKET BY REGION, 2020-2027 ($ MILLION)
4. GLOBAL MONITORING AND THERAPEUTIC DEVICES MARKET BY REGION, 2020-2027 ($ MILLION)
5. GLOBAL BATHROOM SAFETY DEVICES MARKET BY REGION, 2020-2027 ($ MILLION)
6. GLOBAL OTHER MARKET BY REGION, 2020-2027 ($ MILLION)
7. GLOBAL DURABLE MEDICAL EQUIPMENT MARKET BY PAYER, 2020-2027 ($ MILLION)
8. GLOBAL PRIVATEMARKET BY REGION, 2020-2027 ($ MILLION)
9. GLOBAL PUBLIC MARKET BY REGION, 2020-2027 ($ MILLION)
10. GLOBAL OTHER MARKET BY REGION, 2020-2027 ($ MILLION)
11. GLOBAL DURABLE MEDICAL EQUIPMENT MARKET BY END-USER, 2020-2027 ($ MILLION)
12. GLOBAL HOSPITALS/CLINIC MARKET BY REGION, 2020-2027 ($ MILLION)
13. GLOBAL AMBULATORY SURGICAL CENTER MARKET BY REGION, 2020-2027 ($ MILLION)
14. GLOBAL OTHER MARKET BY REGION, 2020-2027 ($ MILLION)
15. GLOBAL DURABLE MEDICAL EQUIPMENT MARKET RESEARCH AND ANALYSIS BY GEOGRAPHY, 2020-2027 ($ MILLION)
16. NORTH AMERICAN DURABLE MEDICAL EQUIPMENT MARKET RESEARCH AND ANALYSIS BY COUNTRY, 2020-2027 ($ MILLION)
17. NORTH AMERICAN DURABLE MEDICAL EQUIPMENT MARKET RESEARCH AND ANALYSIS BY DEVICE TYPE, 2020-2027 ($ MILLION)
18. NORTH AMERICAN DURABLE MEDICAL EQUIPMENT MARKET RESEARCH AND ANALYSIS BY PAYER, 2020-2027 ($ MILLION)
19. NORTH AMERICAN DURABLE MEDICAL EQUIPMENT MARKET RESEARCH AND ANALYSIS BY END-USER, 2020-2027 ($ MILLION)
20. EUROPEAN DURABLE MEDICAL EQUIPMENT MARKET RESEARCH AND ANALYSIS BY COUNTRY, 2020-2027 ($ MILLION)
21. EUROPEAN DURABLE MEDICAL EQUIPMENT MARKET RESEARCH AND ANALYSIS BY DEVICE TYPE, 2020-2027 ($ MILLION)
22. EUROPEAN DURABLE MEDICAL EQUIPMENT MARKET RESEARCH AND ANALYSIS BY PAYER, 2020-2027 ($ MILLION)
23. EUROPEAN DURABLE MEDICAL EQUIPMENT MARKET RESEARCH AND ANALYSIS BY END-USER, 2020-2027 ($ MILLION)
24. ASIA-PACIFIC DURABLE MEDICAL EQUIPMENT MARKET RESEARCH AND ANALYSIS BY COUNTRY, 2020-2027 ($ MILLION)
25. ASIA-PACIFIC DURABLE MEDICAL EQUIPMENT MARKET RESEARCH AND ANALYSIS BY DEVICE TYPE, 2020-2027 ($ MILLION)
26. ASIA-PACIFIC DURABLE MEDICAL EQUIPMENT MARKET RESEARCH AND ANALYSIS BY PAYER, 2020-2027 ($ MILLION)
27. ASIA-PACIFIC DURABLE MEDICAL EQUIPMENT MARKET RESEARCH AND ANALYSIS BY END-USER, 2020-2027 ($ MILLION)
28. REST OF THE WORLD DURABLE MEDICAL EQUIPMENT MARKET RESEARCH AND ANALYSIS BY DEVICE TYPE, 2020-2027 ($ MILLION)
29. REST OF THE WORLD DURABLE MEDICAL EQUIPMENT MARKET RESEARCH AND ANALYSIS BY PAYER, 2020-2027 ($ MILLION)
30. REST OF THE WORLD DURABLE MEDICAL EQUIPMENT MARKET RESEARCH AND ANALYSIS BY END-USER, 2020-2027 ($ MILLION)
1. IMPACT OF COVID-19 ON GLOBAL DURABLE MEDICAL EQUIPMENT MARKET, 2020-2027 ($ MILLION)
2. IMPACT OF COVID-19 ON GLOBAL DURABLE MEDICAL EQUIPMENT MARKET SHARE BY SEGMENT, 2020-2027 ($ MILLION)
3. RECOVERY OF GLOBAL DURABLE MEDICAL EQUIPMENT MARKET, 2021-2027 (%)
4. GLOBAL DURABLE MEDICAL EQUIPMENT MARKET SHARE BY DEVICE TYPE, 2020 VS 2027 (%)
5. GLOBAL DURABLE MEDICAL EQUIPMENT MARKET SHARE BY PAYER, 2020 VS 2027 (%)
6. GLOBAL DURABLE MEDICAL EQUIPMENT MARKET SHARE BY END-USER, 2020 VS 2027 (%)
7. GLOBAL DURABLE MEDICAL EQUIPMENT MARKET SHARE BY GEOGRAPHY, 2020 VS 2027 (%)
8. GLOBAL PERSONAL MOBILITY DEVICES MARKET BY REGION, 2020 VS 2027 (%)
9. GLOBAL MONITORING AND THERAPEUTIC DEVICES MARKET BY REGION, 2020 VS 2027 (%)
10. GLOBAL BATHROOM SAFETY DEVICES MARKET BY REGION, 2020 VS 2027 (%)
11. GLOBAL OTHER MARKET BY REGION, 2020 VS 2027 (%)
12. GLOBAL PRIVATE MARKET BY REGION, 2020 VS 2027 (%)
13. GLOBAL PUBLIC ANTIBODIES MARKET BY REGION, 2020 VS 2027 (%)
14. GLOBAL OTHER MARKET BY REGION, 2020 VS 2027 (%)
15. GLOBAL HOSPITALS/CLINIC MARKET BY REGION, 2020 VS 2027 (%)
16. GLOBAL AMBULATORY SURGICAL CENTER MARKET BY REGION, 2020 VS 2027 (%)
17. GLOBAL OTHER MARKET BY REGION, 2020 VS 2027 (%)
18. US DURABLE MEDICAL EQUIPMENT MARKET SIZE, 2020-2027 ($ MILLION)
19. CANADA DURABLE MEDICAL EQUIPMENT MARKET SIZE, 2020-2027 ($ MILLION)
20. UK DURABLE MEDICAL EQUIPMENT MARKET SIZE, 2020-2027 ($ MILLION)
21. FRANCE DURABLE MEDICAL EQUIPMENT MARKET SIZE, 2020-2027 ($ MILLION)
22. GERMANY DURABLE MEDICAL EQUIPMENT MARKET SIZE, 2020-2027 ($ MILLION)
23. ITALY DURABLE MEDICAL EQUIPMENT MARKET SIZE, 2020-2027 ($ MILLION)
24. SPAIN DURABLE MEDICAL EQUIPMENT MARKET SIZE, 2020-2027 ($ MILLION)
25. REST OF EUROPE DURABLE MEDICAL EQUIPMENT MARKET SIZE, 2020-2027 ($ MILLION)
26. INDIA DURABLE MEDICAL EQUIPMENT MARKET SIZE, 2020-2027 ($ MILLION)
27. CHINA DURABLE MEDICAL EQUIPMENT MARKET SIZE, 2020-2027 ($ MILLION)
28. JAPAN DURABLE MEDICAL EQUIPMENT MARKET SIZE, 2020-2027 ($ MILLION)
29. SOUTH KOREA DURABLE MEDICAL EQUIPMENT MARKET SIZE, 2020-2027 ($ MILLION)
30. REST OF ASIA-PACIFIC DURABLE MEDICAL EQUIPMENT MARKET SIZE, 2020-2027 ($ MILLION)
31. REST OF THE WORLD DURABLE MEDICAL EQUIPMENT MARKET SIZE, 2020-2027 ($ MILLION)
