Durable Medical Equipment Market Trends 2023: Size, Share, Drivers, Restraints, Analysis and Forecast-2030
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 Trends and Analysis by Device Type, End User, and Region – Forecast till 2030
The Durable Medical Equipment Market is projected to reach USD 303.356 billion by 2030 at 4.72 % CAGR during the forecast period 2023-2030.
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 R&D 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 Durable Medical Equipment Market Major Player which operate in this market 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
In the Middle-East and Africa Durable Medical Equipment Market Report scenario, Saudi Arabia region is believed to be the largest market. Moreover UAE market is also growing and is the second largest market for DME. On the other hand, Egypt’s market of DME in these regions is expected to grow at a steady pace during the forecasted period. Rest of Middle East and Africa region is likely to have a limited but steady growth of the DME market.
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