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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. Medicare is taking initiative to promote competitive bidding to bring its reimbursement in line with other payers, thus can negatively impacted some DME distributors and manufacturers. For instance, In December 2015, Centers for Medicare and Medicaid Services (CMS) issued a new rule establishing a prior authorization process for certain durable medical equipment, prosthetics, orthotics, and supplies (DMEPOS). In this rule, DMEPOS items that were flagged for unnecessary utilization comprise a master list of 135 items that will potentially be subject to prior authorization and relevant documentation must be submitted for prior authorization before beneficiaries can receive an item and submit a claim.

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.

Rising number of patients that require long-term therapy, drug delivery, and related products is expected to propel growth of the durable medical equipment market. Increasing prevalence of chronic conditions such as cancer, cardiovascular disorders, neurological disorders, and gynecological disorders is leading to high demand for long-term care at home care settings and hospitals and this is expected to facilitate demand for durable medical equipment. For instance, according to the CDC, 2015, around 800,000 people in the U.S. died due to stroke and other cardiovascular diseases.

Furthermore, driven by the ageing demographic, there is a huge drive to develop equipment that can help to treat age-related conditions such as diabetes, cardiovascular disorders, and other lifestyle disorders as early as possible. Therefore rising geriatric population is important factor supporting growth of the DME market. For instance, according to United Nations Organization, there were an estimated 962 million people aged 60 years or over in the world in 2017, comprising 13% of the global population and this population is continuously growing at a rate of about 3% per year. Currently, Europe has the highest percentage of population aged 60 years or over (25%).

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.

Durable Medical Equipment Market – Competitive Landscape

The DME market is fragmented with presence of large to small scale players, and thus, the competition is high among players. Industry players with a comprehensive portfolio are most likely to successfully capture market share.

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. Key players are adopting inorganic growth strategies such as mergers and acquisitions to retain their position in the market. For instance, in 2017, Becton Dickinson completed the acquisition of C.R. Bard, Inc. and both companies are focusing on improving treatment of diseases for patients. Furthermore, in February 2017, Hill-Rom acquired Mortara Instrument, Inc., a Wisconsin-based medical device manufacturer, to increase their medical device product portfolio and revenue growth.

Durable Medical Equipment Market – Taxonomy

By Equipment Type

  • Personal Mobility Devices
    • Wheelchairs
    • Walkers
    • Canes and crutches
    • Others
  • Bathroom Safety Devices and Medical Furniture
    • Commodes and Toilets
    • Mattress and bedding devices
    • Others
  • Monitoring and therapeutic devices
    • Blood sugar monitors
    • Oxygen equipment
    • Vital Sign Monitors
    • Infusion Pump
    • Cardio Pulmonary Machines
    • Others

By End User

  • Hospitals
  • Clinics
  • Long Term Care Centers
  • Ambulatory Surgical Centers
  • Home Care Settings
  • Others

By Region

  • North America
  • Latin America
  • Europe
  • Asia Pacific
  • Middle East
  • Africa

Research Methodology

Coherent Market Insights followsa comprehensive research methodology focused on providing the most precise market analysis. The company leverages a data triangulation model which helps company to gauge the market dynamics and provide accurate estimates. Key components of the research methodologies followed for all our market reports include:

  • Primary Research (Trade Surveys and Experts Interviews)
  • Desk Research
  • Proprietor Data Analytics Model

In addition to this, Coherent Market Insights has access to a wide range of the regional and global reputed paid data bases, which helps the company to figure out the regional and global market trends and dynamics. The company analyses the industry from the 360 Degree Perspective i.e. from the Supply Side and Demand Side which enables us to provide granular details of the entire ecosystem for each study. Finally, a Top-Down approach and Bottom-Up approach is followed to arrive at ultimate research findings.

Data Triangulation Methodology | Coherent Market Insights

Coherent Market Insights desk research is based on a principle set of research techniques:

  • National level desk research: It Includes research analysis of regional players, regional regulatory bodies, regional trade associations, and regional organization.
  • Multinational level desk research: The research team keeps a track of multinational players, global regulatory bodies, global trade associations, and global organization.

Coherent Market Insights has a large amount of in-house repository of industry database. This is leveraged as a burner for initiating a new research study. Key secondary sources include:

  • Governmental bodies, National and international social welfare institutions, and organizations creating economic policies among others.
  • Trade association, National and international media and trade press.
  • Company Annual reports, SEC filings, Corporate Presentations, press release, news, and specification sheet of manufacturers, system integrators, brick and mortar - distributors and retailers, and third party online commerce players.
  • Scientific journals, and other technical magazines and whitepapers.

Market Analysis | Coherent Market Insights

Preliminary Data Mining

The raw data is obtained through the secondary findings, in house repositories, and trade surveys. It is then filtered to ensure that the relevant information including industry dynamics, trends, and outlook is retained for further research process.

Data Standardization

Holistic approach is used to ensure that the granular and uncommon parameters are taken into consideration to ensure accurate results. The information from the paid databases are further combined to the raw data in order to standardize it.

Coherent Statistical model

We arrive at our final research findings through simulation models. Coherent Data Analytics Model is a statistical tool that helps company to forecast market estimates. Few of the parameters considered as a part of the statistical model include:

  • Micro-economic indicators
  • Macro-economic indicators
  • Environmental indicators
  • Socio-political indicators
  • Technology indicators

Data Processing

Once the findings are derived from the statistical model, large volume of data is process to confirm accurate research results. Data analytics and processing tools are adopted to process large chunk of collected informative data. In case, a client customizes the study during the process, the research finding till then are benchmarked, and the process for new research requirement is initiated again.

Data Validation

This is the most crucial stage of the research process. Primary Interviews are conducted to validate the data and analysis. This helps in achieving the following purposes:

  • It provides first-hand information on the market dynamics, outlook, and growth parameters.
  • Industry experts validates the estimates which helps the company to cement the on-going research study.
  • Primary research includes online surveys, face-to face interviews, and telephonic interviews.

The primary research is conducted with the ecosystem players including, but not limited to:

  • Raw Material Suppliers
  • Manufacturers
  • System Integrators
  • Distributors
  • End-users

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