Durable Medical Equipment Market 2020 growth factors, latest trend and regional analysis of leading players by 2026
Category: #healthcare  By Ronak Bora  Date: 2021-03-19
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Durable Medical Equipment Market 2020 growth factors, latest trend and regional analysis of leading players by 2026

Durable Medical Equipment Market report offers in-depth analysis of the industry size, share, major segments, and different geographic regions, forecast for the next five years, key market players, and premium industry trends. It also focuses on the key drivers, restraints, opportunities and industry challenges.

A continuous upsurge in the number of surgical procedures and the rising prevalence of several disorders will inflate durable medical equipment market size in the coming years. These devices have numerous associated advantages, which will intensify their adoption globally. Elderly people are increasingly suffering from several chronic diseases at a considerable pace. Rising requirement of durable medical equipment across the world has encouraged medical device behemoths to effectuate research & development activities, which will generate new opportunities for durable medical equipment industry players.

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According to a research report published by GMI., durable medical equipment market size is likely to cross the $275 billion mark by 2026. 

Durable medical equipment majorly comprise of items ordered or prescribed by a physician for medical purposes. These equipment are reusable and are suitable for home usage. They largely include oxygen equipment, wheelchairs, crutches, blood testing strips, etc.

Technological innovations in these devices is likely to provide substantial growth prospects for the industry. For instance, in 2020, Hillrom one of the eminent players in the market launched two new devices for respiratory therapy namely Volara™ System for providing oscillation and lung expansion and Synclara™ Cough System for removal of secretions in patients suffering from heavy cough. The company claims that through these devices they seek to offer personalized treatment, ease of usage, therapy optimization along with specialized training to the patients.

Growing e-commerce platforms and internet usage are positively influencing the business growth as customers can now search the providers for durable medical equipment through internet and can also place the order at the same time. There are several durable medical equipment companies across the globe that help in finding right equipment by providing product information and specifications, thereby delivering an enhanced customer experience.

Manufacturers operating in the industry are focused on implementing effective business strategies such as collaborations and mergers in order to gain a competitive edge in the market. For instance, in 2019, Vital Care, Inc. announced its strategic alliance with [email protected] at the 2019 conference of National Home Infusion Association (NHIA) aimed at increasing sales and marketing activities to meet the rising demand for home infusion services across the U.S. Apparently, this move helped both the companies gain a stronger presence in the market while strengthening their partnership.

Catheters segment had recorded a valuation of over USD 40 billion in 2019 and is anticipated to witness a similar growth over the coming years as it is known to reduce the treatment time significantly. Further, catheters are used in critical care for administration of medication and fluids or draining out pus, urine and other fluids collected in cavities.

Home healthcare segment was valued at more than USD 60 billion in 2019 and is expected to observe a substantial growth over the coming years owing to the extensive application of home-based equipment comprising of high-tech monitoring technologies. Moreover, usage of durable medical equipment in home healthcare helps in accessing the trained professionals as well as resources needed for patient treatment. 

Browse full table of contents (TOC) of this report @  https://www.decresearch.com/toc/detail/durable-medical-equipment-dme-market

Partial Chapter of the Table of Content 

Chapter 5. Durable Medical Equipment Market, By Payer

5.1. Key segment trends

5.2. Public

5.2.1.  Market size, by region, 2015 – 2026

5.3. Private

5.3.1.  Market size, by region, 2015 – 2026

5.4. Out-of-pocket

5.4.1.  Market size, by region, 2015 – 2026

Chapter 6. Durable Medical Equipment Market, By End-use

6.1. Key segment trends

6.2. Hospitals

6.2.1.  Market size, by region, 2015 – 2026

6.3. Home healthcare

6.3.1.  Market size, by region, 2015 – 2026

6.4. Ambulatory surgical centers

6.4.1.  Market size, by region, 2015 – 2026

6.5. Others

6.5.1.  Market size, by region, 2015 – 2026

About Author

Ronak Bora    

Ronak Bora

A graduate in Electronics Engineering, Ronak writes for Technology Magazine and carries a rich experience in digital marketing, exploring how the online world works from a technical and marketing perspective. His other areas of interest include reading, music, and spo...

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