Market Overview
The South America Durable Medical Equipment Market is valued at US$ YY Mn in 2018 and is expected to grow at a CAGR of 5.7% over the forecast period to reach US$ YY Mn by 2029
Durable medical equipment is intended for the management of various medical conditions and illness and offers convenience and therapeutic benefits to the patients.
The key drivers of the growth of the Durable Medical Equipment market are the increasing prevalence of chronic diseases, technological advancements, increasing government initiatives and the rapidly increasing ageing population that are highly susceptible to chronic diseases further propels the market.
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Market Dynamics
The rising incidents of Chronic Diseases such as arthritis, cardiovascular diseases, cancer and diabetes is increasing demand for Monitoring and Therapeutic Devices and Personal Mobility Devices.
According to PAHO, NCDs are responsible for nearly four of every five deaths (79%) in South America and this figure is only expected to increase during the forecast period.
Cardiovascular diseases (38%), cancer (25%), respiratory diseases (9%), and diabetes (6%) are the four leading causes of NCD deaths.
Industry Analysis
This is due to the large demand for the equipment and the presence of only a few major prominent players. There is a demand for equipment from hospitals and home care centres. However, the presence of wide brands increases buyers’ bargaining prospects. The number of DME device brands are notable as a few local companies also engage in manufacturing this equipment
The competitive rivalry among manufacturers can be termed moderate-to-high. DME market is moderately concentrated and the competition among these players is intense in the region.
Market Segmentation
- By Product Type
- By End Users
- By Region
By Product Type – Wheelchairs and Scooters:
Wheelchairs and Scooters are devices that provide wheeled mobility and seating support for people with walking disabilities. The market growth is driven by several factors such as the rising elderly population, growing post-treatment services, and increasing development in technology.
The regional market is fast growing due to the rising demand for powered wheelchairs such as, electric wheelchairs and mobility scooters. Wheelchairs come by size, portability and application. For instance, Jazzy power chairs by Pride Mobility are portable, reliable and very easy to use. Sunrise Medical, Pride Mobilities, Cardinal Health and Invacare are some of the players of wheelchairs in South American countries.
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Geographical Analysis – Argentina
The market for Durable Medical Equipment is favoured due to healthcare systems by government, rise in sight, hearing and mobility disability, rising cases of cancer, osteoarthritis and cardiovascular diseases, a large number of hospitals and high bed to patient ratio and fewer manufacturers of medical equipment in the region
The Durable Medical Equipment Market is fragmented in the region with key players like Stryker Corporation and Cardinal Health having a direct market presence. Other major players like Invacare Corporation, Sunrise Medical and Hill-Rom Holdings Inc. distribute their products through suppliers such as Glam Health Corp., LOH Medical and Iraola Y Cia S.A. respectively.
Competitive Landscape
The South America Durable medical equipment market is fairly consolidated with selected key players accounting for predominant market share.
Sunrise Medical is considered the leading player in most of the South American countries in 2018.
The major players with significant market share include Cardinal Health, Invacare, Pride Mobility, GF Health Products, Inc, Ottobock, Hill-Rom Holdings Inc, Drive DeVilbiss Healthcare and Stryker.
The companies are focusing high on R&D, product innovation, strengthening product outreach through distribution through local suppliers and distributors in the South American countries
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