Europe Durable Medical Equipment Market Overview
The European durable medical equipment market is estimated to generate $37.9 billion revenue in 2018, and is further expected to advance at a CAGR of 6.6% during the forecast period. Increasing prevalence of chronic diseases and lifestyle disorders, and growing geriatric population are some of the key factors driving the growth of the market in the region. The geriatric population is more susceptible to illness and most of the times require surgical interventions and long-term care.
Based on type of DME, the European durable medical equipment market is categorized into monitoring and therapeutic equipment, medical furniture, personal mobility equipment, and bathroom safety equipment. Monitoring and therapeutic equipment are the highly used DME in Europe, with an estimated revenue of $26.6 billion in 2018. This category is expected to hold the largest share in the coming years, characterized by surge in geriatric population leading to high requirement for monitoring equipment.
The personal mobility equipment are further categorized into wheelchairs, scooters, and walking aids; and bathroom safety equipment into commode chairs, toilet rails/frames, and others. Among the varied personal mobility equipment, the scooters category is expected to witness considerable growth in the European durable medical equipment market, advancing at a CAGR of 8.4% during the forecast period. There is a high demand for portable scooters for the elderly population in the region, mainly to provide them stability.
The medical furniture category is further classified into medical beds, patient lifts and lift chairs, stretchers, and others. Medical beds are the most commonly used durable medical furniture in the European durable medical equipment market, mainly on account of the rising patient base in the region. The market for medical beds generated an estimated revenue of over $2.0 billion in 2018.
On the basis of end user, the European durable medical equipment market is classified into hospitals, ambulatory surgical centers, home care settings, and others. Hospitals were the largest end users of DME in Europe, with a 51.1% contribution in 2017. This can be attributed to the rising government reimbursements on patient care for inpatient facilities. As per the WHO, in 2013, expenditure on inpatient care represented on an average 32.7% of overall healthcare spending in Europe, ranging respectively from 19.8% and 21.0% in Portugal and Slovakia, to approximately 46.0% in Italy and the Netherlands.
Geographically, Germany occupied the largest share in the European durable medical equipment market and generated around $5.0 billion revenue in 2017. According to the Federal Statistical Offices 2018, there were around 1,951 hospitals in the country; and approximately 19 million patients were treated in general hospitals, thereby leading to high requirement for DME in the country. However, the market in the U.K. is likely to observe fastest growth, at a CAGR of 8.4% during the forecast period.
Europe Durable Medical Equipment Market Dynamics
The rising prevalence of chronic diseases and lifestyle associated disorders is a major driver to boost the growth of the durable medical equipment market in the region. The rising prevalence of these diseases can be ascertained from the fact that in Europe, two-thirds of premature deaths are caused by four major non-communicable diseases (NCDs) – cardiovascular disease (CVD), diabetes, cancer, and chronic respiratory disease. The European population is also affected by rapidly changing lifestyle patterns, leading to rise in the prevalence of lifestyle associated disorders, mainly diabetes and obesity.
According to the data reported by International Diabetes Federation (IDF), there were 66 million diabetes patients in Europe in 2017, and the number is expected reach 81 million by 2045. Russia, Germany, and Spain are among the top three countries witnessed the largest patient pool for diabetes in the year 2017. The increasing prevalence of diabetes will lead to high demand for blood glucose monitors and other monitoring and therapeutic equipment for diabetes management. Thus, increasing prevalence of chronic diseases is a key factor for driving the market growth.
Europe Durable Medical Equipment Market Competitive Landscape
Various DME products are being launched by the key players, leading to their strong position in the European durable medical equipment market. For instance, in June 2018, Permobil AB announced the launch of manual mobility solution, the TiLite Pilot, for kids, with customizable adjustments feature that grows the way a child grows. In addition, the product has innovative frame design that allows children to learn new skills in a safe environment.
Similarly, in April 2018, Permobil AB launched Precision Lock Back Angle Adjustment, which enables an exact fit with effortless adjustment in wheelchair. This lock enables modifications while the patient remains in the chair, reducing unneeded transfers.
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 are other key players operating in the European durable medical equipment industry.