Europe Durable Medical Equipment (DME) Market Share, Size, Future Demand, and Emerging Trends

Almost 77% of the disease burden and 86% of all annual deaths in Europe are a result of chronic diseases, as per the World Health Organization (WHO). For instance, almost 60 million people in the continent suffer from diabetes, and the WHO says that this number is steadily going up. People of all ages are falling prey to this common, yet pestering endocrine disorder due to obesity, physical inactivity, and poor diet. Similarly, the agency says that heart diseases kill more people than tuberculosis, acquired immune deficiency syndrome (AIDS), and malaria together, in Europe. With the rise in the prevalence of all such chronic diseases, the hospitalization rate is going up.

 

Thus, as more people are visiting hospitals and other healthcare centers, the European durable medical equipment market is also growing. The industry size, which was $37.9 billion, is expected to increase at a CAGR of 6.6% during 2019–2024 (forecast period), to ultimately reach $55.4 billion by 2024. The durability of medical equipment has at least a twofold importance: it would lead to less-frequent replacement rate, thus helping save huge sums for medical centers, and also protect caregivers and patients from injuries due to unexpected breakage.

 

 

Germany is currently the largest European durable medical equipment market, as it is home to a large number of hospitals, more specifically 1,951 in 2018, which hosted over 19 million patients that year, according to the Federal Statistical Offices. In the coming years, the purchase of such products is projected to escalate the fastest in the U.K., as the life expectancy here is increasing. The Institute for Health Metrics and Evaluation (IHME) has reported an increase of 4.2 years in the life expectancy of women and 6.3% for men during 1990 and 2017 in the U.K.

 

Hence, on account of the increasing patient pool, the demand for sturdy and long-lasting medical devices is rising in Europe