Healthcare news Durable Medical Equipment Market Size

Durable Medical Equipment Market Size, Share & Trends Analysis
Report and Segment Forecast, 2026| Grand View Research, Inc
“The global Durable Medical Equipment market size was valued at USD 168.87
billion in 2018 and is expected to witness a CAGR of 6.1% over the forecast
period.”
The global Durable Medical Equipment (DME) Market size is expected to reach USD 271.0 billion by 2026
registering a CAGR of 6.1%, according to a new report by Grand View Research, Inc. The market is primarily
driven by rise in chronic diseases, such as kidney failures and cancer. Moreover, technological advancements
along with strong reimbursement scenario will boost the DME market further. For instance, in January 2019,
WHILL, Inc., a U.S.-based personal electric vehicle, introduced new technology WHILL autonomous drive at the
Consumer Electronic Sow held at the Las Vegas. In the past, Medicare has taken steps to bring reimbursement
of DME products in line with other payers.
In this direction, in December 2015, the Center for Medicare & Medicare Services (CMS) issued a new rule of
prior authorization process for DME, Prosthetics, Orthotics, and Supplies (DMEPOS). The DMEPOS includes the
master list of 135 items, which require prior authorization before beneficiary receives an item. In addition,
growing geriatric population across the globe is likely to contribute to the industry expansion. People aged 60
years or above are more prone to health issues, such as diabetes, mobility issues, Cardiovascular Diseases
(CVDs), and other lifestyle problems. This creates demand for DME products. However, stringent regulatory
guidelines in developed economies and lack of skilled professionals may limit the durable medical equipment
market growth.
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