Deep Analysis of Impact of COVID-19 on “U.S. Durable Medical Equipment Market 2019-2027” Growth Worldwide….


The U.S. durable medical equipment market size is expected to reach USD 79.6 billion by 2027, exhibiting a 6.0% CAGR over the forecast period, according to a new report published by Grand View Research, Inc. Increasing incidence of cancer and other diseases such as diabetes, rheumatoid arthritis, and multiple sclerosis is projected to propel the growth. In addition, increasing approvals of durable medical equipment (DME) is anticipated to drive the product adoption. Rising prevalence of chronic diseases requiring long-term care, rapidly growing geriatric population, and increasing penetration of home healthcare services and staff are other factors driving the product demand.
With Covid-19 infections rising globally, the apprehension regarding a shortage of essential life-saving devices and other essential medical supplies in order to prevent the spread of this pandemic and provide optimum care to the infected also widens. In addition, till a pharmacological treatment is developed, ventilators act as a vital treatment preference for the COVID-19 patients, who may require critical care. Moreover, there is an urgent need for a rapid acceleration in the manufacturing process for a wide range of test-kits (antibody tests, self-administered, and others). The report will account for Covid19 as a key market contributor.
The demand for durable medical equipment is expected to witness rise over the forecast period, as they are designed in accordance with patient acceptance and compliance. Rapid technological developments and investments in R&D activities by the key market players are anticipated to make these product more convenient and user-friendly. This is encouraging patients to adopt this DME technology for chronic illnesses, which in turn is projected to drive the growth of the market in the forthcoming years.
The U.S. DME market is highly competitive. Some of the players operating in the market include Invacare Corporation; Sunrise Medical; ArjoHuntleigh; Hill-Rom; Stryker; Medline Industries, Inc.; Medical Device Depot, Inc.; GF Health Products Inc.; Carex Health Brands; Baxter International, Inc.; Becton, Dickinson and Company; and Joerns Healthcare LLC.
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https://www.grandviewresearch.com/industry-analysis/us-durable-medical-equipment-dme-market/request/rs1
Further key findings from the report suggest:
·         Monitoring and therapeutic devices emerged as the largest segment during the forecast period, owing to the ease of use of the products
·         Rising demand for new technologies along with advanced healthcare infrastructure is facilitating the market growth during the forecast period
·         Personal mobility devices is anticipated to be the fastest-growing segment over the study period as these facilities offer custodial care like door openers, wheelchairs and scooters.
·         Few of the key players operating in the U.S. durable medical equipment market include Invacare Corporation; Sunrise Medical; ArjoHuntleigh; Hill-Rom; Stryker; Medline Industries, Inc.; Medical Device Depot, Inc.; GF Health Products Inc.; Carex Health Brands; Baxter International, Inc.; Becton, Dickinson and Company; and Joerns Healthcare LLC
The U.S. durable medical equipment market size was valued at USD 49.9 billion in 2019 and is expected to register a CAGR of 6.0% over the forecast period. Increase in prevalence of chronic disease, rapid technological advancements and rising aging population are the leading factors propelling the overall demand for durable medical equipment (DME) in the country. Rising product approvals are projected to further fuel the product demand.
Durable medical equipment are the medical devices used for improving the quality of the life of the patients. Some of the common DME include wheelchairs, blood sugar monitors, and nebulizers. The expansion of competitive bidding is expected to control the reimbursement rate of the products, which is likely to drive retail sales of several products in the forthcoming years.
Rising incidence of chronic diseases such as cancer, multiple sclerosis, and rheumatoid arthritis, is anticipated to drive the demand for DME. As per the National Cancer Institute Report 2018, approximately 1.7 million people in U.S. were diagnosed with cancer. Moreover, around 70.0% rise is expected in new cases of cancer over the next couple of years. Such significant rise in the disease occurrence is anticipated to drive the product demand. Neurological disorders, such as epilepsy and Alzheimer’s and Parkinson’s diseases are also expected to witness a surge in occurrence over the forecast period. As per a survey carried out by the American Neurological Association in 2017, around 5.3 million people in U.S. were suffering from Alzheimer’s.
Increasing geriatric population is one of the important factors driving the growth of the U.S. durable medical equipment market. As per a survey carried out by the Population Reference Bureau in 2019, over 52 million people in U.S. were aged 65 years and above. This number is anticipated to increase to 95 million by 2050. Geriatric population present a greater exposure to chronic conditions, such as cancer, diabetes, and other lifestyle chronic disorders. Hence, demand for DME is expected to increase in near future.
Browse Press Release of this report:
https://www.grandviewresearch.com/press-release/us-durable-medical-equipment-dme-market-analysis
Grand View Research has segmented the U.S. durable medical equipment market based on product type:
U.S. Durable Medical Equipment Product Type Outlook (Revenue, USD Million, 2016 - 2027)
·         Personal Mobility Devices
o    Wheelchairs
o    Scooters
o    Walker and Rollators
o    Canes and Crutches
o    Door Openers
o    Other Devices
·         Bathroom Safety Devices and Medical Furniture
o    Commodes and Toilets
o    Mattress & Bedding Devices
·         Monitoring and Therapeutic Devices
o     Blood Sugar Monitors
o     Continuous Passive Motion (CPM)
o     Infusion Pumps
o     Nebulizers
o     Oxygen equipment
o     Continuous Positive Airway Pressure (CPAP)
o     Suction pumps
o     Traction Equipment
o     Others
o  Insulin pumps
o  Ostomy bags and accessories
o  Wound care products
o  Cardiology Devices
o  Vital Signs Monitor
o  Respiratory supplies
o  Urinary supplies
o  Diabetic supplies
o  Incontinence products
o  Orthopedic braces and support
o  Muscle stimulators
o  Others
About Grand View Research
Grand View Research, Inc. is a U.S. based market research and consulting company, registered in the State of California and headquartered in San Francisco. The company provides syndicated research reports, customized research reports, and consulting services. To help clients make informed business decisions, we offer market intelligence studies ensuring relevant and fact-based research across a range of industries, from technology to chemicals, materials and healthcare.




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