Report ID: 10086029 |
Published Date: 21 Oct 2022 |
Report Format: |
Delivery Timeline: 48-72 Business Hours
"According to a new report by Kenneth, the global durable medical equipment (DME) market is expected to expand at a compound annual growth rate of ~7% between 2022 and 2030 with the revenue estimated to cross ~USD 150 billion by end of 2021.
In addition, technological advancement coupled with a powerful redemption program will further promote the DME market. For example, in January 2019, WHILL, Inc., a personal electric car headquartered in the United States, launched a new WHILL autonomous driving technology at the Consumer Electronic Show in Las Vegas. In the past, Medicare has taken steps to align the reimbursement of DME products with other payers.
To this end, in December 2015, Medicare and the Medicare Service Center (CMS) issued new pre-authorization process rules and supplies (DMEPOS) for DME, prosthetics, and orthotics. DMEPOS includes a total list of 135 items, and prior authorization is required before the recipient receives the items.
In addition, the growing elderly population around the world may promote the expansion of the industry. People 60 years and older are more likely to have health problems such as diabetes, limited mobility, cardiovascular disease (CVD), and other lifestyle problems. This created a demand for DME products. However, strict regulatory guidelines and lack of trained professionals in advanced economies may limit the growth of the durable medical equipment market.
OTHER KEY RESEARCH FINDINGS INDICATE THAT :
Personal mobile devices have become the largest market segment due to the introduction of technologically advanced products with more convenience and portability. Nursing homes are expected to be the fastest growing market segment during the study period because these facilities provide concierge Services, such as professional care such as bathing and dressing.
Europe led the market with the largest share in 2020, and will grow steadily in the future due to the presence of major companies in the region. The Asia-Pacific region is expected to record the highest compound annual growth rate from 2022-2030. Target population A large base and improved sanitation facilities. Some of the key companies in the global DME market are Invacare Corporation; ArjoHuntleigh; Stryker; Hill Rom, Inc.; Drive Medical; GF Health Products; Sunrise Medical; Medlin Industries; and Carex Health Brands, Inc.
PRODUCT OUTLOOK DME ( revenue, million dollars, 2022-2030):
Personal mobility equipment, wheelchairs, scooter, walkers and walkers, cranes and cane door openers, other equipment, safety equipment for bathrooms and medical furniture, comfort and toilet mattresses and beds Supply equipment monitoring and treatment equipment sugar monitor blood CPAP) suction pump traction equipment other equipment DME end-use outlook (revenue, millions of dollars, 2022-2030)"
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Report ID: 10086029 |
Published Date: 21 Oct 2022 |
Report Format: |
Delivery Timeline: 48-72 Business Hours
