Transparency Market Research observes that the global durable
equipment market is reasonably fragmented due to a strong presence of
several players. The key players contributing to the market dynamics
are Stryker Corporation, Medtronic plc., Baxter International, Inc.,
Becton, Dickinson and Company, Invacare Corporation, Medline
Industries, Inc., Sunrise Medical (US) LLC, Drive DeVilbiss
Healthcare, Inc. (Medical Depot Inc.), ResMed, Inc., and Hill-Rom
Holdings, Inc. Companies are expected to focus on developing
customized solutions to cater to individual needs of the end users to
maintain a place in the highly competitive market.
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According to Transparency Market Research, the global durable medical
equipment (DME) market is expected to be worth US$228.65 mn by the
end of 2025 from US$112.30 mn in 2016. During the forecast period of
2017 and 2025, the global market is expected to surge at a CAGR of
8.3%. Amongst the various types of equipment, the bathroom safety
devices are expected to drive the global market. Increasing awareness
about ensuring bathroom safety, especially within households, to
avert traumatic injuries is expected to favor this segment in the
near future. Geographically, Asia Pacific is expected to lead the
global market in the coming years. The increasing geriatric
population in this region is expected to drive the market.
The growing awareness about patient’s comfort has given the global
durable medical equipment market a much-needed impetus. The devices
available in this market are predominantly meant for therapeutic use
and are designed in way to alleviate the discomforts of the
illnesses.
Commercialization of sturdy equipment that has recurring
uses has encouraged several end users to investment in various types
of durable medical equipment over the years. The growing community of
home caregivers are have propelled the demand for wheelchairs,
commodes, and toilet rails amongst others. Furthermore, mushrooming
elderly care centers are expected to be stoke the demand for durable
medical equipment in the coming years.
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Firm investments by durable medical equipment (DME) industries and
close cooperation of government, national institutes, and physicians
with vigorous hands-on training for medical professionals, improving
lifestyle, increasing demand and adoption rate of high end technology
devices and equipment, has brought about technology enhancement and
increased value for money in durable medical equipment (DME) market.
The high incidence of chronic conditions such as cancer,
cardiovascular diseases, and other disabilities are also projected to
up the usage of durable medical equipment in home care settings as
well as hospitals. Regions with high and growing geriatric population
are anticipated to be fertile grounds for the growth of this market
in the coming years.
On the flip side, the global durable medical equipment market is
expected to witness a few impediments along its growth trajectory. To
begin with availability of counterfeit equipment and low barrier for
entry of newcomers are expected to eat into the market shares of
existing players. Bigger companies are also likely to be affected by
cost-sensitive markets that tend to incline toward makeshift or
cheaper solutions. Furthermore, high durability of medical equipment
will also discourage end users from buying or upgrading to new
equipment, thereby negatively impacting sales.
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