Durable medical equipment (DME) are intended for the management of various medical conditions and illness and offer convenience and therapeutic benefits to the patients. The use of DME is mainly associated with therapeutic benefits and comfort for patients and are not intended for non-medical purposes. They are typically prescribed by a physician and are durable and reusable which being homecare friendly. DME includes wheelchairs (manual and electric), hospital beds, traction equipment, canes, crutches, walkers, kidney machines, ventilators, oxygen, monitors, pressure mattresses, lifts, nebulizers, and others.
Market Key Takeaways
The global market for the Durable Medical Equipment Market is primarily driven by the increasing prevalence of chronic diseases such as arthritis, cardiovascular diseases, cancer and diabetes, technological advancements, increasing government initiatives and rapidly increasing ageing population that are highly susceptible to chronic diseases.
The Monitoring and Therapeutic Devices holds the most significant market share owing to the technological advancements in the devices and the high demand for managing chronic ailments, particularly diabetes which drives the blood glucose monitor share.
North America holds the largest market share in the global Durable Medical Equipment market due to favourable reimbursement policies, high treatment rates, high prevalence of chronic diseases that require long-term care, increasing geriatric population, and rising penetration of home healthcare services.
The global market for the Durable Medical Equipment Market is primarily driven by the increasing prevalence of chronic diseases such as arthritis, cardiovascular diseases, cancer and diabetes; technological advancements; increasing government initiatives and rapidly increasing the aging population that are highly susceptible to chronic diseases. According to the World Health Organization (WHO) in 2015, the non- communicable chronic diseases attributed to over 38 million death per year. According to the International Diabetes Federation (IDF), in 2017, approximately 425 million adults (20-79 years) were living with diabetes; by 2045 it is predicted to rise to 629 million. According to the Asian Diabetes Prevention Initiative, 60% of the world diabetic population is in Asia. Other factors such as the increasing focus on home care settings for the management of medical conditions and illnesses in patient populations and the growing awareness about patients’ comfort are further propelling the evolving demand for durable medical equipment market.
By Product Type, the global Durable Medical Equipment market is segmented into Personal Mobility Devices, Medical Furniture, Bathroom Safety Devices, and Monitoring and Therapeutic Devices. Monitoring and Therapeutic Devices is further sub-segmented into Blood Glucose Monitor, Oxygen Concentrators, Vital Sign Monitor, Infusion Pump, Nebulizers, Positive Airway Pressure, and other devices. The Monitoring and Therapeutic Devices holds the most significant market share owing to the technological advancements in the devices and the high demand for managing chronic ailments, particularly diabetes which drives the blood glucose monitor share. Nebulizers are expected to be the second fastest-growing share due to the increasing prevalence of asthma and Chronic Obstructive Pulmonary Disease (COPD). According to the World Health Organization (WHO), More than 65 million people around the world have moderate or severe COPD. Positive Airway Pressure (PAP) devices hold a significant segment of the Monitoring and Therapeutic devices owing to the rising incidents of sleep disorders, high demand for Home-Sleep Tests, the increase in demand for micro-CPAP devices which do not require a mask, cord, or a hose and technological advancements of novel PAP with intelligent sensor technologies.
The Medical Furniture market is further sub-segmented into Medical /Adjustable Beds, Stretchers, Lift Chairs and others. The demand for medical furniture is expected to show steady growth rate during the forecast period. This is attributed to the increasing number of medical infrastructure, particularly in developing countries and steadily increasing technological innovations in hospital furniture. Moreover, the patient comfort and for the hospital staffs, ease of functional capabilities are of prime importance which are increasing demand for medical furniture. Medical beds/ Adjustable beds hold a significant market share in this segment owing to the increasing geriatric population. According to the United Nations, in 2017, there are an estimated 962 million people aged 60 or over in the world, comprising 13% of the global population. But the number of older people in the world is projected to be 1.4 billion in 2030 and 2.1 billion in 2050. Additionally, the launch of technologically advanced beds and favorable reforms for long term care have improved the adoption of medical beds in many countries.
North America holds the largest market share in the global Durable Medical Equipment market due to the rising prevalence of chronic diseases that require long-term care, increasing geriatric population, and rising penetration of home healthcare services. According to the US health department, every six out of ten adults in the US have a chronic disease, and four in ten live with more than two chronic diseases or disorders. They account for billions of dollars in health care spending every year. Other drivers are the high spending of GDP in healthcare, and easy access to devices through well-established distribution channels in the region, particularly in the US and Canada.
The Asia Pacific is expected to witness a significant growth owing it to the increasing rise in the prevalence of chronic diseases, geriatric population, and target population, increased spending on healthcare, improving healthcare infrastructure in the region, and growing investments by the government and key market players of the area. According to the United Nations ESCAP in 2016, approximately 12.4% of the population in the Asia Pacific was 60+ years, but this is projected to increase to more than 1.3 billion people by 2050. According to the International Diabetes Federation (IDF) - Diabetes Atlas 8th Edition, 2017, an estimated 82 million adults (aged 20+ years) were living with diabetes in the IDF South-East Asia region, which equals to a regional prevalence of 8.5% and an estimated 158.8 million adults (aged 20+ years) were living with diabetes in the IDF Western Pacific region, which is a regional prevalence of 9.5%.
Competitive Analysis
Key players are adopting strategies such as mergers and acquisitions, partnerships, and regional expansion to stand out as strong competitors in the market. New product launches and increasing R&D are other ways the leading players improve their market presence.
In May 2019, Aeroflow Healthcare, a leading provider of durable medical equipment (DME), announced partnerships with BlueCross BlueShield (BCBS) of Western New York and BlueShield of Northeastern New York.
In January 2019, Generex Biotechnology Corporation announced that its wholly-owned subsidiary NuGenerex Distribution Solutions launched DME-IQ, a novel service for physicians who manage the in-office distribution of durable medical equipment (DME).
In December 2018, Hill-Rom, a global provider of medical technologies and the world’s leading hospital bed manufacturer, announced that EarlySense integrated its continuous contact-free heart rate and respiratory rate sensing and analytics technology into Hill-Rom’s Centrella Smart+ bed platform. The Centrella bed offers optimized patient safety, enhanced patient satisfaction, and advanced caregiver-focused technology, while continuously monitoring the patients’ heart and respiratory rates without ever touching the patient.
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