by The durable medical equipment market was exceeded US$ 183.5 billion in 2020 and is projected to reach US$ 299.56 billion by 2030, expanding at an annual CAGR of 6.3 percent, according to a 2021 study by Precedence Research, the Canada-based market Insight Company. The report contains 150+ pages with detailed analysis.
The base year for the study has been considered 2021, the historic year 2019 and 2020, the forecast period considered is from 2021 to 2030. The dairy products market is analyzed on the basis of value (US$ Million), volume (Unit), and price (US$/Unit). Durable medical equipment’s are the equipment used to measures various health parameters that help in ascertaining the patient health condition. It helps the patients to live a better quality of life. The durable medical equipment’s comprises of ventilators, crutches, walkers, canes, wheelchairs, nebulizers, oxygen monitors and many others. It assists in diagnosing and monitoring the health condition of the patients. These equipment’s are durable, reusable and can be easily operated hence they are prescribed by the physicians to the patients across the globe to monitor their health condition.
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Market Report Scope
| Report Highlights | Details |
| Market Size | USD 299.56 Billion by 2030 |
| Growth Rate | CAGR of 6.3% From 2021 to 2030 |
| Base Year | 2020 |
| Historic data | 2017 to 2020 |
| Forecast Period | 2021 to 2030 |
| Segments Covered | Product, End User |
Competition Landscape
In the final section of the research report, Precedence Research provided the global durable medical equipment market structure and a detailed competition landscape to provide a dashboard view of key players operating in the durable medical equipment market along with their business strategies to report audiences. This section is primarily designed to provide clients with an objective and detailed comparative assessment of the key providers specific to a market segment in the value chain of the market.
Some of the major players in the durable medical equipment market include:
ArjoHuntleigh, Becton, Dickinson and Company, General Electric Company, GF Health Products Inc., Hill-Rom Services Inc., Invacare Corporation, Koninklijke Philips NV, Medical Device Depot Inc., Medline Industries Inc., Medtronic PLC, Omron Corporation, Siemens Healthineers AG (Siemens AG) and Stryker Corporation.
Crucial factors accountable for market growth are:
- Increase in chronic diseases across the globe especially in the older generation people.
- The surge in older population across the globe.
- The rapid technological advancement in the durable medical equipment’s.
- The comfort provided by the use of durable medical equipment’s.
- During the COVID-19 pandemic outbreak, the demand for durable medical equipment’s increased in the local hospitals and nursing homes.
Report Highlights
- Asia Pacific region is expected to grow at highest CAGR during the forecast period owing to improved healthcare facilities and largest population.
- The rise in elderly population that need constant medical attention that can be ensured with the help of durable medical equipment’s.
- The monitoring and therapeutic devices sector will lead the durable medical equipment market with highest revenue share during the forecast period owing to the rapid increase of chronic disease among the people all over the world
- By Geography, North America leads the Durable Medical Equipment Market by revenue share because of rise in chronic diseases among the people in this region.
Market Dynamics
Driver
The surge in the elderly population across the world and the rise in chronic disease such as cancer, diabetics, cardiac disorders, neurological conditions are the major factors that drive the growth of the Durable Medical Equipment Market. Moreover, the rising technological advancement in the medical equipment’s and the increase in demand for durable medical equipment’s across the globe is expected to drive the growth of the Durable Medical Equipment Market.
Restraint
The major restraining factor that negatively impact the growth of the Durable Medical Equipment Market includes the high cost involved in the manufacture of the durable medical equipment, high maintenance, strict Government norms, lack of skilled personals to operate the medical equipment’s and many others.
Opportunity
The utility of durable medical equipment’s among the elderly population is the crucial factor that will boost the growth of the durable medical equipment market. Also, these equipment’s are used for diverse aspects such as BP monitoring, blood glucose analyzers, nebulizers and many others. All these attributes contribute significantly in discovering the futuristic opportunities for the growth of the durable medical equipment market.
Challenges
The high cost of equipment development is one of the major challenges encountered by the durable medical equipment market. Furthermore, the strict Government regulations, tedious approval procedures, maintaining high quality and safety are some of the challenges encountered by the durable medical equipment market.
Regional Snapshots
North America is leading the Durable Medical Equipment Market in 2021 and is projected to grow at a CAGR of 4% in the upcoming years. In North America, the demand for Durable Medical Equipment is very high due to increase in chronic diseases among the people of North America. Moreover, the people in North America desire for home-based monitoring devices and this fosters the demand for the Durable Medical Equipment’s in the market.
The Asia-Pacific Durable Medical Equipment market is estimated to grow at highest CAGR in the coming years with China forecasted to grow at 10.5% CAGR by 2030. The prime factors that is responsible for the growth of the Durable Medical Equipment Market in the Asia Pacific region includethe growing elderly population, largest target population, unbalanced diet patterns that develops many chronic diseases and many others.
Market Segmentation
By Product
- Personal Mobility Devices
- Wheelchair and Scooter
- Crutches and Canes
- Walkers
- Others
- Monitoring and Therapeutic Devices
- Oxygen Equipment
- Blood Glucose Analyzers
- Vital Sign Monitors
- Infusion Pumps
- Continuous Positive Airway Pressure (CPAP) Devices
- Nebulizers
- Others
- Bathroom Safety Devices
- Medical Furniture
- Incontinent Pads
- Breast Pumps
- Catheters
- Consumables and Accessories
- Others
By End-use
- Hospitals
- Home Healthcare
- Ambulatory Surgical Centers
- Others
Regional Segmentation
– North America (U.S. and Canada)
– Europe (Germany, France, U.K., Italy, Spain, Rest of Europe)
– Asia-Pacific (China, Japan, India, Southeast Asia and Rest of APAC)
– Latin America (Brazil and Rest of Latin America)
– Middle East and Africa (GCC, North Africa, South Africa, Rest of MEA)
Research Methodology
Secondary Research
It involves company databases such as Hoover’s: This assists us recognize financial information, structure of the market participants and industry competitive landscape.
The secondary research sources referred in the process are as follows:
- Governmental bodies, and organizations creating economic policies
- National and international social welfare institutions
- Company websites, financial reports and SEC filings, broker and investor reports
- Related patent and regulatory databases
- Statistical databases and market reports
- Corporate Presentations, news, press release, and specification sheet of Manufacturers
Primary Research
Primary research includes face-to face interviews, online surveys, and telephonic interviews.
- Means of primary research: Email interactions, telephonic discussions and
Questionnaire based research etc.
- In order to validate our research findings and analysis we conduct primary interviews of key industry participants. Insights from primary respondents help in validating the secondary research findings. It also develops Research Team’s expertise and market understanding.
Most Asked Questions –
- What was the market size value of the durable medical equipment in 2020?
- What is the expected market size by 2030?
- What is the durable medical equipment market growth?
- What are the key factors that positively influence market growth?
- Who are the prominent players in the durable medical equipment market?
Why should you invest in this report?
If you are aiming to enter the global durable medical equipment market, this report is a comprehensive guide that provides crystal clear insights into this niche market. All the major application areas for durable medical equipment are covered in this report and information is given on the important regions of the world where this market is likely to boom during the forecast period of 2021-2030, so that you can plan your strategies to enter this market accordingly.
Besides, through this report, you can have a complete grasp of the level of competition you will be facing in this hugely competitive market and if you are an established player in this market already, this report will help you gauge the strategies that your competitors have adopted to stay as market leaders in this market. For new entrants to this market, the voluminous data provided in this report is invaluable.
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TABLE OF CONTENT
Chapter 1. Introduction
1.1. Research Objective
1.2. Scope of the Study
1.3. Definition
Chapter 2. Research Methodology
2.1. Research Approach
2.2. Data Sources
2.3. Assumptions & Limitations
Chapter 3. Executive Summary
3.1. Market Snapshot
Chapter 4. Market Variables and Scope
4.1. Introduction
4.2. Market Classification and Scope
4.3. Industry Value Chain Analysis
4.3.1. Raw Material Procurement Analysis
4.3.2. Sales and Distribution Channel Analysis
4.3.3. Downstream Buyer Analysis
Chapter 5. Market Dynamics Analysis and Trends
5.1. Market Dynamics
5.1.1. Market Drivers
5.1.2. Market Restraints
5.1.3. Market Opportunities
5.2. Porter’s Five Forces Analysis
5.2.1. Bargaining power of suppliers
5.2.2. Bargaining power of buyers
5.2.3. Threat of substitute
5.2.4. Threat of new entrants
5.2.5. Degree of competition
Chapter 6. Competitive Landscape
6.1.1. Company Market Share/Positioning Analysis
6.1.2. Key Strategies Adopted by Players
6.1.3. Vendor Landscape
6.1.3.1. List of Suppliers
6.1.3.2. List of Buyers
Chapter 7. Global Durable Medical Equipment Market, By Product
7.1. Durable Medical Equipment Market, by Product Type, 2021-2030
7.1.1. Personal Mobility Devices
7.1.1.1. Market Revenue and Forecast (2017-2030)
7.1.2. Monitoring and Therapeutic Devices
7.1.2.1. Market Revenue and Forecast (2017-2030)
7.1.3. Bathroom Safety Devices
7.1.3.1. Market Revenue and Forecast (2017-2030)
7.1.4. Medical Furniture
7.1.4.1. Market Revenue and Forecast (2017-2030)
7.1.5. Incontinent Pads
7.1.5.1. Market Revenue and Forecast (2017-2030)
7.1.6. Breast Pumps
7.1.6.1. Market Revenue and Forecast (2017-2030)
7.1.7. Catheters
7.1.7.1. Market Revenue and Forecast (2017-2030)
7.1.8. Consumables and Accessories
7.1.8.1. Market Revenue and Forecast (2017-2030)
7.1.9. Others
7.1.9.1. Market Revenue and Forecast (2017-2030)
Chapter 8. Global Durable Medical Equipment Market, By End-use
8.1. Durable Medical Equipment Market, by End-use, 2021-2030
8.1.1. Hospitals
8.1.1.1. Market Revenue and Forecast (2017-2030)
8.1.2. Home Healthcare
8.1.2.1. Market Revenue and Forecast (2017-2030)
8.1.3. Ambulatory Surgical Centers
8.1.3.1. Market Revenue and Forecast (2017-2030)
8.1.4. Others
8.1.4.1. Market Revenue and Forecast (2017-2030)
Chapter 9. Global Durable Medical Equipment Market, Regional Estimates and Trend Forecast
9.1. North America
9.1.1. Market Revenue and Forecast, by Product (2017-2030)
9.1.2. Market Revenue and Forecast, by End-use (2017-2030)
9.1.3. U.S.
9.1.3.1. Market Revenue and Forecast, by Product (2017-2030)
9.1.3.2. Market Revenue and Forecast, by End-use (2017-2030)
9.1.4. Rest of North America
9.1.4.1. Market Revenue and Forecast, by Product (2017-2030)
9.1.4.2. Market Revenue and Forecast, by End-use (2017-2030)
9.2. Europe
9.2.1. Market Revenue and Forecast, by Product (2017-2030)
9.2.2. Market Revenue and Forecast, by End-use (2017-2030)
9.2.3. UK
9.2.3.1. Market Revenue and Forecast, by Product (2017-2030)
9.2.3.2. Market Revenue and Forecast, by End-use (2017-2030)
9.2.4. Germany
9.2.4.1. Market Revenue and Forecast, by Product (2017-2030)
9.2.4.2. Market Revenue and Forecast, by End-use (2017-2030)
9.2.5. France
9.2.5.1. Market Revenue and Forecast, by Product (2017-2030)
9.2.5.2. Market Revenue and Forecast, by End-use (2017-2030)
9.2.6. Rest of Europe
9.2.6.1. Market Revenue and Forecast, by Product (2017-2030)
9.2.6.2. Market Revenue and Forecast, by End-use (2017-2030)
9.3. APAC
9.3.1. Market Revenue and Forecast, by Product (2017-2030)
9.3.2. Market Revenue and Forecast, by End-use (2017-2030)
9.3.3. India
9.3.3.1. Market Revenue and Forecast, by Product (2017-2030)
9.3.3.2. Market Revenue and Forecast, by End-use (2017-2030)
9.3.4. China
9.3.4.1. Market Revenue and Forecast, by Product (2017-2030)
9.3.4.2. Market Revenue and Forecast, by End-use (2017-2030)
9.3.5. Japan
9.3.5.1. Market Revenue and Forecast, by Product (2017-2030)
9.3.5.2. Market Revenue and Forecast, by End-use (2017-2030)
9.3.6. Rest of APAC
9.3.6.1. Market Revenue and Forecast, by Product (2017-2030)
9.3.6.2. Market Revenue and Forecast, by End-use (2017-2030)
9.4. MEA
9.4.1. Market Revenue and Forecast, by Product (2017-2030)
9.4.2. Market Revenue and Forecast, by End-use (2017-2030)
9.4.3. GCC
9.4.3.1. Market Revenue and Forecast, by Product (2017-2030)
9.4.3.2. Market Revenue and Forecast, by End-use (2017-2030)
9.4.4. North Africa
9.4.4.1. Market Revenue and Forecast, by Product (2017-2030)
9.4.4.2. Market Revenue and Forecast, by End-use (2017-2030)
9.4.5. South Africa
9.4.5.1. Market Revenue and Forecast, by Product (2017-2030)
9.4.5.2. Market Revenue and Forecast, by End-use (2017-2030)
9.4.6. Rest of MEA
9.4.6.1. Market Revenue and Forecast, by Product (2017-2030)
9.4.6.2. Market Revenue and Forecast, by End-use (2017-2030)
9.5. Latin America
9.5.1. Market Revenue and Forecast, by Product (2017-2030)
9.5.2. Market Revenue and Forecast, by End-use (2017-2030)
9.5.3. Brazil
9.5.3.1. Market Revenue and Forecast, by Product (2017-2030)
9.5.3.2. Market Revenue and Forecast, by End-use (2017-2030)
9.5.4. Rest of LATAM
9.5.4.1. Market Revenue and Forecast, by Product (2017-2030)
9.5.4.2. Market Revenue and Forecast, by End-use (2017-2030)
Chapter 10. Company Profiles
10.1. ArjoHuntleigh
10.1.1. Company Overview
10.1.2. Product Offerings
10.1.3. Financial Performance
10.1.4. Recent Initiatives
10.2. Becton
10.2.1. Company Overview
10.2.2. Product Offerings
10.2.3. Financial Performance
10.2.4. Recent Initiatives
10.3. Dickinson and Company
10.3.1. Company Overview
10.3.2. Product Offerings
10.3.3. Financial Performance
10.3.4. Recent Initiatives
10.4. General Electric Company
10.4.1. Company Overview
10.4.2. Product Offerings
10.4.3. Financial Performance
10.4.4. Recent Initiatives
10.5. GF Health Products Inc.
10.5.1. Company Overview
10.5.2. Product Offerings
10.5.3. Financial Performance
10.5.4. Recent Initiatives
10.6. Hill-Rom Services Inc.
10.6.1. Company Overview
10.6.2. Product Offerings
10.6.3. Financial Performance
10.6.4. Recent Initiatives
10.7. Invacare Corporation
10.7.1. Company Overview
10.7.2. Product Offerings
10.7.3. Financial Performance
10.7.4. Recent Initiatives
10.8. Koninklijke Philips NV
10.8.1. Company Overview
10.8.2. Product Offerings
10.8.3. Financial Performance
10.8.4. Recent Initiatives
10.9. Medical Device Depot Inc.
10.9.1. Company Overview
10.9.2. Product Offerings
10.9.3. Financial Performance
10.9.4. Recent Initiatives
10.10. Medline Industries Inc.
10.10.1. Company Overview
10.10.2. Product Offerings
10.10.3. Financial Performance
10.10.4. Recent Initiatives
Chapter 11. Research Methodology
11.1. Primary Research
11.2. Secondary Research
11.3. Assumptions
Chapter 12. Appendix
12.1. About Us
12.2. Glossary of Terms
Thanks for reading you can also get individual chapter-wise sections or region-wise report versions such as North America, Europe, or the Asia Pacific.
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