Europe Durable Medical Equipment Market
Europe Durable Medical Equipment Market Size Expanding to Cross USD 78 Billion by 2029
Published | 13 September 2023
Europe durable medical equipment market is flourishing because of the growing focus on the prevention and management of increasing prevalence of chronic diseases majorly driven by rapidly aging population in the region.
BlueWeave Consulting, a leading strategic consulting and market research firm, in its recent study, estimated the Europe durable medical equipment market size at USD 51.14 billion in 2022. During the forecast period between 2023 and 2029, BlueWeave expects Europe durable medical equipment market size to grow at a significant CAGR of 6.25% reaching a value of USD 78.17 billion by 2029. Major growth drivers for the Europe durable medical equipment market include rapidly aging European population, escalating chronic maladies, and rapid medical technology advancements. Nations boasting well-established healthcare systems and greater healthcare spending typically exhibit larger DME sectors. Escalating chronic conditions such as diabetes, cardiovascular ailments, and respiratory disorders continue to surge across Europe. Durable medical equipment assumes a pivotal role in managing these conditions and ameliorating patient life quality. The pivot towards home-based care, propelled by patient preferences and cost containment, empowers patients with remote medical care options and curtails hospitalization rates. The uptake of telehealth and remote monitoring technologies, particularly accelerated by the COVID-19 pandemic, establishes links between durable medical equipment and remote patient monitoring, enhancing healthcare decisions. The mounting awareness among patients and healthcare providers about the benefits of durable medical equipment in health condition management has significantly contributed to the market's growth trajectory. Healthcare professionals are increasingly acknowledging the pivotal role of durable medical equipment in enhancing patient outcomes. However, the factors such as stringent regulations and limited reimbursement are anticipated to restrain the overall market growth during the period in analysis.
Europe Durable Medical Equipment Market – Overview
Europe durable medical equipment (DME) market refers to the sector within the European healthcare industry that involves the production, distribution, and utilization of various medical devices and equipment designed for extended and repeated use by patients for medical purposes. These devices are prescribed by healthcare professionals to assist in the treatment, management, and improvement of various health conditions and disabilities. DME includes a wide range of products, such as mobility aids, orthopedic devices, respiratory equipment, patient monitoring devices, and other durable medical devices, that contribute to enhancing the quality of life, facilitating medical care, and promoting independence for individuals with health-related needs.
Impact of COVID-19 on Europe Durable Medical Equipment Market
COVID-19 pandemic had a mixed impact on the Europe durable medical equipment market. Initially, disrupted supply chains and manufacturing processes slowed operations. However, the crisis highlighted DME's significance in home healthcare and remote monitoring. Demand surged for disposable DME due to infection prevention needs. Telemedicine adoption soared, boosting sales of remote patient monitoring devices. Governments allocated resources to medical equipment, and regulatory flexibility expedited approvals. Economic uncertainties hindered purchasing power, leading to delayed non-essential acquisitions. Ultimately, the pandemic reshaped DME priorities, emphasizing patient safety, remote care capabilities, and readiness for future health crises.
Europe Durable Medical Equipment Market – By Product Type
Based on product type, the Europe durable medical equipment market is divided into Personal Mobility Devices, Medical Furniture & Bathroom Safety Devices, and Monitoring & Therapeutic Devices segments. The medical furniture & bathroom safety devices segment is expected to hold the highest share in the Europe durable medical equipment market by product type during the forecast period. It can be attributed to the aging population's needs, fall prevention concerns, the trend toward home care, regulatory standards, medical rehabilitation requirements, growing awareness, technological advancements, and government support for accessible living solutions. These factors collectively underscore the significance of medical furniture and bathroom safety devices for both seniors and individuals with disabilities. Also, the medical furniture & bathroom safety devices include medical bed & mattress and commode & toilet. Meanwhile, the monitoring and therapeutic devices segment is expected to witness the fastest growth rate during the forecast period due to escalating demand for advanced medical technologies.
Increasing prevalence of chronic diseases necessitates continuous patient monitoring and personalized treatment approaches. Technological innovations like wearable health trackers, remote patient monitoring systems, and smart therapeutic devices cater to these needs. Moreover, the pandemic accelerated telemedicine adoption, boosting the requirement for remote monitoring tools. Also, the monitoring and therapeutic devices segment include blood glucose monitor, oxygen equipment, vital sign monitor, and infusion pump. Amongst them, the vital sign monitor sub-segment is expected to dominate the market during the forecast period. It can be attributed to the rising diabetic patient population in the area. According to World Health Organization (WHO) estimations, diabetes-related fatalities are projected to double from 2005 to 2030 in this region.
Major players operating in the Europe durable medical equipment market include 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, and Sunrise Medical. To further enhance their market share, these companies employ various strategies, including mergers and acquisitions, partnerships, joint ventures, license agreements, and new product launches.
The in-depth analysis of the report provides information about growth potential, upcoming trends, and statistics of Europe Durable Medical Equipment Market. It also highlights the factors driving forecasts of total market size. The report promises to provide recent technology trends in Europe Durable Medical Equipment Market and industry insights to help decision-makers make sound strategic decisions. Furthermore, the report also analyzes the growth drivers, challenges, and competitive dynamics of the market.
BlueWeave Consulting provides comprehensive Market Intelligence (MI) Solutions to businesses regarding various products and services online and offline. We offer all-inclusive market research reports by analyzing qualitative and quantitative data to boost the performance of your business solutions. BlueWeave has built its reputation by delivering quality inputs and nourishing long-lasting relationships with its clients. We are one of the promising digital MI solutions companies providing agile assistance to make your business endeavors successful.
BlueWeave Consulting & Research Pvt. Ltd
+1 866 658 6826 | +1 425 320 4776 | +44 1865 60 0662
- Europe Durable Medical Equipment Market, By Product Type (Personal Mobility Devices, Medical Furniture & Bathroom Safety Devices, Monitoring & Therapeutic Devices); By End User (Hospitals, ASCs, Home Care Settings); By Application (Orthopedics. Cardiovascular, Respiratory, Diabetes Care, Neurology); By Country (Germany, United Kingdom, Italy, France, Spain, Belgium, Russia, The Netherlands, Rest of Europe), Trend Analysis, Competitive Landscape & Forecast, 2019–2029
Publish Date: September 2023
The rapidly aging population and growing prevalence of chronic diseases are projected to propel the expansion of the Europe durable medical equipment market during the forecast period between 2023 and 2029.
Relevant Press Releases
- Global Hearing Aids Market is anticipated to worth USD 8387 million by 2025
- Global Enteral Feeding Devices Market Gaining Momentum—Projected to Reach USD 5.1 Billion by 2027
- Global Medical Equipment Cooling Market: Portraying a Positive Growth at a Moderate CAGR of 3.8 % during the forecast period
- Europe Diabetes Care Devices Market to Surpass USD 9.86 Billion by 2028
- Global Mobile Cardiac Telemetry Systems Market Booming: Projected to Grow at a CAGR of 11.2% by 2027