Durable Medical Equipment Market
Durable Medical Equipment or home medical equipment provides therapeutic benefits to patients. They are easy to use and does not need any special skill or training thus can easily be managed by a caretaker or a family member of the patient. Increasing per capita income, healthcare expenditure and aging population in Middle East and Africa are driving the DME market’s growth.
Durable Medical Equipment Market Data is expected to reach USD 30,0560 Million at CAGR of 6.4% during the 2022-2030
The Middle East and Africa healthcare sector is growing by 10% annually and it comprise 2% of the total global healthcare expenditure. Huge Investment in RD by DME manufacturers are leading to more innovative product development. Developing infrastructure, government initiatives, extended insurance coverage and increasing awareness are major drivers of this market. Growing number of road accidents resulting in accident disability is another factor which has given a growth to the market. There is a wide range of Durable Medical Equipment (DME) present in the market making this market competitive. Middle-East and Africa Durable Medical Equipment (DME) Market was around US$ 3.48 billion in 2015 and is expected to reach US$ 4.65 billion by 2022 which has been growing at a CAGR of 4.2% and is expected to maintain this growth rate in future as well. Factors that are responsible for the growth of this market includes high cost of some products, lack of access or availability of products in some countries, lack of knowledge etc.
Major Key Players:
There are plenty of large and small Market Players in all over Middle East and Africa region, such as Invacare Corporation (US), Medical Depot, Inc. (US), The Braun Corporation (US), Sunrise Medical (Germany), Permobil (Sweden), Medline Industries, Inc. (US), Compass Health Brands (US), ArjoHuntleigh (Sweden), Hill-Rom (US) and GF HEALTH PRODUCTS, INC. (US)
Segment Analysis
Middle-East and Africa Market Segment on the basis of product type which comprise blood pressure monitors, blood glucose monitors, ventilators, personal mobility devices, traction equipment, wheel chairs, respiratory devices, portable medical equipments and others.
On the basis of end user, the market is segmented into hospitals and clinics, healthcare institutions, research centers, home healthcare and others.
Regional Analysis
The geographical dissection of the global Durable Medical Equipment Market Forecast covers Europe, MEA or Middle East Africa, APAC or Asia Pacific along with the Americas.
The American market will attain the leading position over the evaluation period thanks to the thriving healthcare sector, in addition to the presence of an extensive pool of renowned medical device companies. The mushrooming patient base affected by a series of chronic disorders such as diabetes, cancer, and arthritis, coupled with the soaring demand and use of technically advanced equipment with high durability will further bolster the market expansion rate in the ensuing years.
Europe will be the second biggest market for durable medical equipment, as a result of the surging focus of the major manufacturers on technical developments as well as the upgradations in the healthcare industry. On top of these factors, the rapid increase in the number of acquisitions and mergers between the leading firms in the region give way to massive business growth too. Soaring number of large-sized healthcare organizations, expanding patient pool needing urgent critical care and the significant availability of a modern healthcare infrastructure across numerous countries i0n the region add to the market value as well. Surge in the number of trained and skilled professionals paired with the soaring use of durable equipment like sling lifts and transfer chairs in hospitals would have a remarkable impact on the European industry over the following years
Asia Pacific will be the fastest advancing market from 2020 to 2027, in view of the vast pool of patients affected by a host of chronic diseases including cancer, arthritis, diabetes, asthma, to mention a few. The massive geriatric population, especially in Japan and India along with the escalating number of well-equipped diagnostic centers using durable infusion pumps, bedding devices, and blood sugar monitors would foster business revenues in the upcoming years. It is likely that the stunning growth rate of the medical tourism industry in the region would be a growth rendering factor for the durable medical equipment industry in the near future.
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