Coherent Market Insights added Latest Research Report titled ” Durable Medical Equipment Market, by Equipment Type (Personal Mobility Devices, Bathroom Safety Devices and Medical Furniture, and Monitoring and Therapeutic Devices), By End User (Hospitals, Clinics, Long Term Care Centers, Ambulatory Surgical Centers, Home Care Settings, and Others) and By Geography – Global Industry Insights, Trends, Outlook and Opportunity Analysis 2018-2026 ” to its Large Report database.
Durable medical equipment (DME) are non-disposable equipment used in hospitals, clinics, and home care settings. Examples of DME are wheelchairs, walkers or hospital beds. DME used at home care settings are paid under Medicare part A and part B plans. Coverage for DME may include, wheelchairs, oxygen equipment, blood testing strips, crutches, and power mobility devices. This market has a strong reimbursement background which may expected to have some impact on the overall market. The patient’s medical practitioner must prescribe the specific durable medical equipment and it will need to be approved by Medicare before purchasing.
Durable Medical Equipment Market – Driver
Increasing number of hospitals, surgical and outpatient procedures, home healthcare services is expected to result in increasing adoption of DME during the forecast period. For instance, according to the U.S. Bureau of Labor Statistics, the home health aides and personal care aides are expected to increase by 13 million in 2020 (a 70% increase from 2010). In addition to this, the organization predicted that home healthcare employment is expected to grow at a rate of 55.0% from 2006 to 2016, thus accelerating growth of this market.
Durable Medical Equipment Market – Regional Analysis
The global durable medical equipment market is segmented into North America, Latin America, Europe, Asia Pacific, Middle East, and Africa. North America holds the largest market share in durable medical equipment market followed by Europe owing to large patient pool with various diseases and increase in surgeries which require more number of durable medical equipment. Asia Pacific is expected to exhibit high growth, owing to increasing investments by governments of emerging economies in the healthcare sector. Moreover, rise in preference for invasive as well as non-invasive monitoring devices is also expected to propel growth of the market.
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Key players in durable medical equipment market are Stryker Corporation, Baxter International, Inc. Medtronic plc. Becton, Dickinson and Company, Medline Industries, Inc., Invacare Corporation, Sunrise Medical (US) LLC, ResMed, Inc., Drive DeVilbiss Healthcare, Inc. (Medical Depot Inc.) Hill-Rom Holdings, Inc., and others.
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