About Durable Medical Equipment
Durable Medical Equipment (DME) refers to equipment that is used for therapeutic benefits to a patient in need because of certain diseases. Durable Medical equipment includes Personal Mobility Devices, Medical Furniture, Bathroom Safety Devices, and Monitoring & Therapeutic Devices. Monitoring and therapeutics devices are important for supervision and diagnosis of several diseases. It describes medical equipment and supplies ordered by a healthcare provider for a patient's routine, long-term use. DME refers to a wide variety of devices to meet all manner of medical needs. DME may be ordered by a healthcare provider to accommodate a patient's temporary disability, as in the case of a wheelchair or crutches for a recovering patient, or as part of a patient's long-term care plan for their chronic or life-limiting condition, such as a mechanical ventilator for a patient with advanced lung disease.
Attributes | Details |
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Study Period | 2018-2028 |
Base Year | 2022 |
Unit | Value (USD Million) |
CAGR | 7.14% |
The DME market is a dynamic and competitive space with constant innovation and evolving trends. Understanding the key players, their strategies, and the market dynamics is crucial for navigating this landscape and maximizing success. Analyst at AMA Research estimates that United Kingdom Players will contribute the maximum growth to Global Durable Medical Equipment market throughout the forecasted period. Established and emerging Players should take a closer view at their existing organizations and reinvent traditional business and operating models to adapt to the future.
Invacare Corporation (United States), Medical Depot (United States), The Braun Corporation (United States), AdaptHealth Corp. (United States), Sunrise Medical (Germany), Permobil (Sweden), Medline Industries (United States), Compass Health Brands (United States), ArjoHuntleigh (Sweden), Hill-Rom (United States) and GF HEALTH PRODUCTS (United States) are some of the key players that are part of study coverage. Additionally, the Players which are also part of the research coverage are Becton Dickinson (United States), Carex Health Brands (Compass Health Brands) (United States), Medtronic (Ireland) and Stryker (United States).
Segmentation Overview
AMA Research has segmented the market of Global Durable Medical Equipment market by Type (Personal Mobility Devices, Medical Furniture, Bathroom Safety Devices and Monitoring & Therapeutic Devices) and Region.
On the basis of geography, the market of Durable Medical Equipment has been segmented into South America (Brazil, Argentina, Rest of South America), Asia Pacific (China, Japan, India, South Korea, Taiwan, Australia, Rest of Asia-Pacific), Europe (Germany, France, Italy, United Kingdom, Netherlands, Rest of Europe), MEA (Middle East, Africa), North America (United States, Canada, Mexico). If we see Market by Distribution Channel, the sub-segment i.e. Online will boost the Durable Medical Equipment market. Additionally, the rising demand from SMEs and various industry verticals gives enough cushion to market growth. If we see Market by End User, the sub-segment i.e. Hospitals and Clinics will boost the Durable Medical Equipment market. Additionally, the rising demand from SMEs and various industry verticals gives enough cushion to market growth.
Influencing Trend:
Upsurging Demand of Monitoring and Therapist Devices and Adoption of Durable Medical Equipment in House
Market Growth Drivers:
Rising Government Support for Subsidy of Monitoring Therapist Devices and Increasing Number of Diseases Across the World
Challenges:
Strict Government Regulation related to Therapeutic Materials
Restraints:
The requirement of Trained Professional to Manage Durable Medical Equipment
Opportunities:
Introduction of Cloud-Based System by Healthcare Agencies and Expansion of Supply System in Developing Nations will Boost the Durable Medical Equipment Maret
Market Leaders and their expansionary development strategies
In September 2023, McKesson Corporation acquired Arrow Electronics, a global distributor of electronic components and embedded systems. This acquisition aims to enhance McKesson's medical technology supply chain and potentially expand their reach in DME distribution.
In October 2023, Bionik raises the bar with their Odysee bionic leg, boasting intuitive control and waterproof design for enhanced mobility and confidence in various environments.
Key Target Audience
Medical Durable Equipment Manufactures, Medical Durable Equipment Suppliers/ Distributors, Medical Institutes, Medical Research Centre, Government and Private Research Centre and Others
About Approach
To evaluate and validate the market size various sources including primary and secondary analysis is utilized. AMA Research follows regulatory standards such as NAICS/SIC/ICB/TRCB, to have a better understanding of the market. The market study is conducted on basis of more than 200 companies dealing in the market regional as well as global areas with the purpose to understand the companies positioning regarding the market value, volume, and their market share for regional as well as global.
Further to bring relevance specific to any niche market we set and apply a number of criteria like Geographic Footprints, Regional Segments of Revenue, Operational Centres, etc. The next step is to finalize a team (In-House + Data Agencies) who then starts collecting C & D level executives and profiles, Industry experts, Opinion leaders, etc., and work towards appointment generation.
The primary research is performed by taking the interviews of executives of various companies dealing in the market as well as using the survey reports, research institute, and latest research reports. Meanwhile, the analyst team keeps preparing a set of questionnaires, and after getting the appointee list; the target audience is then tapped and segregated with various mediums and channels that are feasible for making connections that including email communication, telephonic, skype, LinkedIn Group & InMail, Community Forums, Community Forums, open Survey, SurveyMonkey, etc.