Durable Medical Equipment Market Size to Reach USD 305.17 Billion in 2028 Growing at a CAGR of 5.8%, according to Emergen Research

Emergen Research has published its latest report titled “Durable Medical Equipment Market, By Product Type (Bathroom Safety Devices and Medical Furniture, Personal Mobility Devices, Monitoring and Therapeutic Devices), By Payer (Private, Public, Out-of-Pocket), By End-use (Hospitals & Clinics, Ambulatory Surgical Centers, Long-term Care Centers, Home Care Settings, Others), and By Region, Forecast to 2028”

According to Emergen Research, the global durable medical equipment market size was USD 192.93 Billion in 2020 and is expected to reach USD 305.17 Billion in 2028 and register a revenue CAGR of 5.8% during the forecast period, 2021-2028.

Market Dynamics:

Steady revenue growth of the global durable medical equipment market is majorly driven by factors such as rise in geriatric population worldwide, increasing prevalence of chronic diseases including cancer, cardiovascular disorders, neurological conditions, ophthalmic diseases, and gynecological disorders, and increasing investments in medical infrastructure development. Rapid adoption of technologically advanced medical equipment in healthcare facilities including hospitals, ambulatory surgical centers, and home care settings, increasing demand for surgical and outpatient services, growing availability of improved healthcare reimbursement plans and policies, and increasing government spending on advancement of infrastructure are other key factors contributing to the global durable medical equipment market growth. Durable medical equipment are specifically designed to provide therapeutic benefits to patients, and these equipment can be used for a long period of time. Durable medical equipment include personal mobility devices, monitoring & therapeutic devices, and temporary hospital-grade equipment.

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COVID-19 Impact Analysis:

  • Social distancing and restrictions severely disrupted businesses and operations
  • Lockdowns caused disruptions in transportation and logistics
  • Impacted manufacturing activities and mining operations globally
  • Took a toll on economy of various countries
  • Caused sudden and drastic downturn in economic activity
  • Disrupted agriculture, fisheries, dairy, and other sectors
  • Caused loss of employment and financial crisis
  • Supply impacts were further compounded owing to reduced disposable income
  • Emergence of variants  continue to cause concerns and impact normal routines

Personal Mobility Devices Segment Accounted for Largest Revenue Share in 2020:

Based on product type, the global durable medical equipment market is segmented into bathroom safety devices and medical furniture, personal mobility devices, and monitoring, and therapeutic devices. The personal mobility devices segment accounted for the largest revenue share in the global market in 2020. Factors driving revenue growth of this segment are rapidly increasing global geriatric population, growing prevalence of chronic illnesses such as cardiovascular disorders, neurological disorders, cancer, and ophthalmic diseases, increasing patient pool, and growing use of technologically advanced medical equipment.

Hospitals & Clinics Segment to Account for Fastest Revenue CAGR:

Based on end-use, the global durable medical equipment market is segmented into hospitals & clinics, ambulatory surgical centers, long-term care centers, home care settings, and others. The hospitals & clinics segment is expected to register the fastest revenue CAGR in the global market over the forecast period. Rising prevalence of chronic and acute diseases, growing rate of hospital admissions, rapid adoption of technologically advanced medical equipment in hospitals and clinics, and increasing investments in hospital infrastructure development are expected to drive revenue growth of this segment.

North America Market Accounted for Largest Revenue Share in 2020:

Among regional markets, the North America durable medical equipment market accounted for largest revenue share in the global market in 2020, supported by many favorable factors. Rising burden of chronic and acute diseases, increasing need for advanced durable medical equipment, increasing government investments in healthcare infrastructure development, and presence of major industry players in the region, including GE Healthcare, Hill-Rom Holdings, Inc., Invacare Corporation, and Medline Industries, Inc., are major factors driving the regional market revenue growth.

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Major Companies in the Global Durable Medical Equipment Market Include:

  • Invacare Corporation
  • GE Healthcare
  • Stryker Corporation
  • Hill-Rom Holdings, Inc.
  • Drive Medical
  • GF Health Products, Inc.
  • Sunrise Medical
  • Medline Industries, Inc.
  • Carex Health Brands, Inc.
  • Intco Medical

For the purpose of this report, Emergen Research has segmented the global durable medical equipment market based on product type, payer, 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)

  • Private
  • Public
  • Out-of-Pocket

End-use Outlook (Revenue, USD Billion; 2018–2028)

  • Hospitals & Clinics
  • Ambulatory Surgical Centers
  • Long-term Care Centers
  • Home Care Settings
  • Others

Have a look at Report Description and Table of Contents of Market Report@ https://www.emergenresearch.com/industry-report/durable-medical-equipment-market

Region Outlook (Revenue, USD Billion; 2018-2028)

  • North America
    • U.S.
    • Canada
    • Mexico
  • Europe
    • Germany
    • France
    • U.K.
    • Italy
    • Spain
    • BENELUX
    • Rest of Europe
  • Asia Pacific
    • China
    • India
    • Japan
    • South Korea
    • Rest of Asia Pacific
  • Latin America
    • Brazil
    • Rest of Latin America
  • Middle East & Africa
    • Saudi Arabia
    • U.A.E.
    • South Africa
    • Turkey
    • Rest of Middle East & Africa

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About Emergen Research

Emergen Research is a market research and consulting company that provides syndicated research reports, customized research reports, and consulting services. Our solutions purely focus on your purpose to locate, target, and analyze consumer behavior shifts across demographics, across industries, and help clients make smarter business decisions. We offer market intelligence studies ensuring relevant and fact-based research across multiple industries, including Healthcare, Touch Points, Chemicals, Types, and Energy. We consistently update our research offerings to ensure our clients are aware of the latest trends existent in the market. Emergen Research has a strong base of experienced analysts from varied areas of expertise. Our industry experience and ability to develop a concrete solution to any research problems provides our clients with the ability to secure an edge over their respective competitors.

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