DUBLIN--(BUSINESS WIRE)--The "Europe Durable Medical Equipment Market by Type, by End User, by Geography - Market Size, Share, Development, Growth, and Demand Forecast, 2014-2024" report has been added to ResearchAndMarkets.com's offering.
The European durable medical equipment (DME) market is expected to reach $55.4 billion by 2024.
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.
The monitoring and therapeutic equipment category in the European durable medical equipment market is further classified into blood glucose monitors, infusion pumps, vital sign monitors, oxygen equipment, and others. The market for vital sign monitors is expected to attain a value of more than $5 billion by 2024, attributed to the increasing number of diabetic patients in the region. As per the projections made by the WHO, deaths caused by diabetes are expected to double between 2005 and 2030 in the region.
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.
The U.K. durable medical equipment market is expected to be valued at $7,083 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.
Furthermore, in June 2018, DeVilbiss Healthcare LLC introduced Competitor II Hi/Lo height adjustable beds and Competitor II manual height adjustable beds. These beds include a pendant lockout feature that helps prevent accidental actuation of head or foot deck adjustment when in the locked position.
Some of the other key players operating in the 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
- Sunrise Medical
Key Topics Covered
Chapter 1. Research Background
Chapter 2. Research Methodology
Chapter 3. Executive Summary
Chapter 4. Introduction
4.1 Definition of Market Segments
4.1.1 by Type
220.127.116.11 Monitoring and Therapeutic Equipment
18.104.22.168.1 Blood Glucose Monitors
22.214.171.124.2 Infusion Pumps
126.96.36.199.3 Vital Sign Monitors
188.8.131.52.4 Oxygen Equipment
184.108.40.206 Medical Furniture
220.127.116.11.1 Medical Beds
18.104.22.168.2 Patient Lifts and Lift Chairs
22.214.171.124 Personal Mobility Equipment
126.96.36.199.3 Walking Aids
188.8.131.52 Bathroom Safety Equipment
184.108.40.206.1 Commode Chairs
220.127.116.11.2 Toilet Rails/Frames
4.1.2 by End-user
18.104.22.168 Ambulatory Surgical Centers (ASCs)
22.214.171.124 Home Care Settings
4.2 Market Dynamics
126.96.36.199 Growing Mergers and Acquisitions
188.8.131.52 Increasing Number of Product Launches
184.108.40.206 Rising Prevalence of Chronic Diseases and Lifestyle Associated Disorders
220.127.116.11 Growing Geriatric Population
18.104.22.168 Surge in the Number of Surgeries
22.214.171.124 Increasing Number of Recipients for Long-Term Care
126.96.36.199 Rising Incidence of Disabilities
188.8.131.52 Impact Analysis of Drivers on Market Forecast
184.108.40.206 Lack of Trained Healthcare Professionals
220.127.116.11 Impact Analysis of Restraints on Market Forecast
18.104.22.168 Increasing Preference for Home Healthcare
4.3 Porter's Five Forces Analysis
Chapter 5. Europe Market Size and Forecast
5.1 By Type
5.2 By End-user
5.3 By Country
Chapter 6. Competitive Landscape
6.1 Product Benchmarking of Key Players
6.2 Strategic Developments of Key Players
6.2.1 Mergers and Acquisitions
6.2.2 Product Launches
6.2.3 Other Developments
Chapter 7. Company Profiles
For more information about this report visit https://www.researchandmarkets.com/r/r5l1nf