Europe Durable Medical Equipment Market Demand, Sales, Consumption Status and Growth Opportunities
The market
growth is primarily driven by the rising prevalence of chronic diseases and
lifestyle associated disorders, surging geriatric population, and increase in
number of surgeries and recipients for long-term care. Furthermore, the rising
incidence of disabilities is also supporting the growth of the market.
Based on
type, the European durable medical equipment market is categorized into
monitoring and therapeutic equipment, medical furniture, personal mobility
equipment, and bathroom safety equipment. The market for bathroom safety
equipment is expected to grow at the fastest pace, advancing at a CAGR of 8.5%
during the forecast period. Increasing number of fall cases and rise in
geriatric population are the supporting elements for the growth of the market.
Elderly patients have a high requirement for toilet rails and frames, to
provide secure grip and avoid falls.
On the
basis of end user, the European durable medical equipment market is fragmented into
hospitals, ambulatory surgical centers, home care settings, and others. The
increasing preference toward home care facilities is anticipated to drive the
demand for DME in Europe, thereby making it the fastest growing category in
this market, at a CAGR of 8.1% during the forecast period.
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The U.K.
durable medical equipment market is expected to be valued at $7,083.0 million
by 2024, registering a CAGR of 8.4% during the forecast period. This growth
will be mainly driven by the increasing life expectancy of the country’s
population, and growing accessibility to technologically advanced products.
According to the Institute for Health Metrics and Evaluation (IHME) data, in
the U.K., the life expectancy of females increased from 78.5 years in 1990 to
82.7 years in 2017, and for males it increased from 72.9 years in 1990 to 79.2
years in 2017. These factors will drive the demand for DME in the country
during the forecast period.
Increasing
product launches are paving the way for various market players to expand their
product portfolio in the European durable medical equipment market. For
instance, in December 2018, DeVilbiss Healthcare LLC introduced low‐height,
semi‐electric, and manual crank beds. These beds are durable and polyethylene
molded, embossed with “Head” and “Foot” to help ensure proper assembly.
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Some of the
other key players operating in the European durable medical equipment market
are Invacare Corporation; Hill-Rom Holdings Inc.; Stryker Corporation;
Medtronic plc; Becton, Dickinson and Company; Medline Industries Inc.; Johnson
& Johnson; Abbott Laboratories; Koninklijke Philips N.V.; Siemens AG;
General Electric Company; Arjo AB; DeVilbiss Healthcare LLC; Handicare Group
AB; Permobil AB; and Sunrise Medical.
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