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.
Request a Sample Copy of the Global Durable Medical Equipment Market Research Report @ https://www.grandviewresearch.com/industry-analysis/durable-medical-equipment-dme-market/request/rs1
Further key findings from the study suggest:
Have Any Query? Ask Our Experts @ https://www.grandviewresearch.com/inquiry/3091/ibb
Grand View Research has segmented the global Durable Medical Equipment (DME) market on the basis of product, end use, and region:
DME Product Outlook (Revenue, USD Million, 2015 – 2026)
DME End Use Outlook (Revenue, USD Million, 2015 – 2026)
DME Regional Outlook (Revenue, USD Million, 2015 – 2026)
Browse Related Report:
Medical X-ray Generator Market: https://www.grandviewresearch.com/industry-analysis/medical-x-ray-generator-market
Medical Disposables Market: https://www.grandviewresearch.com/industry-analysis/medical-disposables-market
About Grand View Research
Grand View Research provides syndicated as well as customized research reports and consulting services on 46 industries across 25 major countries worldwide. This U.S.-based market research and consulting company is registered in California and headquartered in San Francisco. Comprising over 425 analysts and consultants, the company adds 1200+ market research reports to its extensive database each year. Supported by an interactive market intelligence platform, the team at Grand View Research guides Fortune 500 companies and prominent academic institutes in comprehending the global and regional business environment and carefully identifying future opportunities.
Media ContactCompany Name: Grand View Research, Inc.Contact Person: Sherry James, Corporate Sales Specialist – U.S.A.Email: Send EmailPhone: 1-415-349-0058, Toll Free: 1-888-202-9519Address:201, Spear Street, 1100 City: San FranciscoState: CaliforniaCountry: United StatesWebsite: www.grandviewresearch.com/industry-analysis/durable-medical-equipment-dme-market