durable medical equipment Market

The global durable medical equipment market is forecasted to reach US$ 291.53 Bn in 2027 from US$ 170.89 Bn in 2018. The durable medical equipment market is estimated to grow with a CAGR of 6.5% from 2019-2027.

The market is driven owing to factors such as the prevalence of chronic diseases, increasing elderly population, and growing incidents of road accidents. However, the high cost of therapeutic products and procedures and social stigma associated with the use of walking canes and crutches may limit the growth of the market to a certain extent.

During recent years the use of mobility aids has been associated with a certain level of social stigma. Certain social cultures in developing nations associate disability with disease, curses, helplessness, or dependence. Though the acceptance of personal mobility aids has increased over the years, people feel uneasy when they are faced with the probability of using mobility equipment themselves.
The use of assistive devices has been considered as a marker of an inability to perform certain physical activities. Some individuals, specifically the younger age group, undergo a loss of confidence in using walking aids such as canes and crutches. Hence, the associated stigma is expected to hinder the growth of the durable medical equipment market during the forecast period.

Global durable medical equipment was segmented based on device type and end user. Based on the device type, the durable medical equipment market is categorized as monitoring & therapeutic devices and personal mobility devices. Similarly, the market is classified based on end user such as hospitals & clinics, ambulatory surgical centers, and home healthcare.

The major primary and secondary sources referred to in the report include the Centers for Disease Control and Prevention, World Health Organization, Ministry of Health and Family Welfare, The International Diabetes Federation, The International Study of Asthma and Allergies in Childhood and others.