DMI segments the South America Durable Medical Equipment Market by geography into – North America, South America, Europe, Asia-Pacific (APAC), and Middle East and Africa.
South America Durable Medical Equipment Market
Durable medical equipment are used for the management of a lot of illness and medical conditions and offer therapeutic benefits and convenience to the patients. Durable medical equipment are that equipment and supplies that are ordered by a health care provider for everyday or extended use. Durable medical equipment consists of those items which are primarily and customarily used to serve a medical purpose, are ordered or prescribed by a physician, are not useful to a person in the absence of illness or injury, are appropriate for use in the home, are reusable, and can stand repeated use. Durable medical equipment includes wheelchairs (manual and electric), hospital beds, traction equipment, canes, crutches, walkers, kidney machines, ventilators, oxygen, monitors, pressure mattresses, lifts, and crutches.
Rising Prevalence of Chronic Diseases and Increasing Penetration of Home Healthcare to Fuel Market
The rising incidents of chronic diseases such as arthritis, cardiovascular diseases, cancer, and diabetes is increasing the demand for monitoring, therapeutic, and personal mobility devices. Moreover, the growing geriatric population, globalization, urbanization, and the rise in obesity and physical inactivity in the region have made cardiovascular diseases the leading cause of death and disability in South America, accounting for almost one-third of all regional mortality, with the risk generally higher in men compared to women.
Another reason for market growth is high penetration of home healthcare services as older people have difficulty in commuting from home to hospital, and in the old age they prefer to stay near family, thus rather than extended hospital stays elderly population prefers home healthcare services. As more ageing men and women and disabled adults turn to home care providers and other services to avoid costly and potentially lengthy stays at hospitals and nursing homes. Durable medical equipment such as walkers, canes, crutches, and wheelchairs help older people in moving and helps them in-home healthcare.
Lack of Skilled Professionals and High Cost of Durable Medical Equipment to Hinder Market Progress
South America region suffers from an inadequate supply of trained and qualified healthcare professionals, particularly physicians, medical laboratory professionals, nurses, paramedics and technologists. In many countries of South America, the professional training of a limited number of health workers, although costly, is not adequate for local health needs. There is also a frequent shortage of qualified personnel in public health and policymaking and management. Many health workers are subject to adverse work environments, humiliating wages, lack of support from administrators, insufficient social recognition, and weak career development so either they do not opt for medical career or left in between. The high cost of the durable medical equipment put additional burden on the patient together with the treatment cost. These equipment are not covered by insurance in the countries of South America.
Wheelchairs and Scooters Anticipated to Gain Notable Traction
By product type, wheelchairs and scooters are expected to hold the largest market share over the period of the forecast. 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 rising elderly population, growing post-treatment services, and increasing development in technology. Moreover, the increasing technological advancement in powered wheelchairs and innovative product launches by local players are boosting the market and rising the adoption rate. For instance, in January 2019, Brazilian start-up Hoobox Robotics launched the first wheelchair controlled by facial expressions.
Brazil Durable Medical Equipment Market to Expand Robustly
DataM Intelligence segments the South America durable medical equipment market into – Brazil, Colombia, Argentina, Chile, Peru and Rest of South America.
Brazil's durable medical equipment market is expected to hold a significant market share over the period of forecast as Brazil's healthcare infrastructure is well established and incorporated and covers majority of the population of the country. The market in Brazil is growing due to large target population base, universal health coverage, increasing number of hospitals and clinics, prevalence of disability in the country, rising cases of cancer and other chronic diseases, and presence of some of the major market players in the region. Health coverage reduces out of pocket expenses and thus leads to higher rates of people seeking treatment, thus increasing market for medical equipment including wheelchairs, stairlifts and other durable medical equipment.
Fairly Consolidated Market with Selected Contributors
South America durable medical equipment market is moderately competitive. Key market players include – Stryker Corporation, Invacare Corporation, Cardinal Health, Sunrise Medical, Drive DeVilbiss Healthcare, Pride Mobility, Hill-Rom Holdings Inc., GF Health Products Inc., Ottobock and Permobil AB.
Key players are highly investing in R&D for the advent of first-in-class vocal fold augmentation products to sustain and improve market competitiveness. Few competitors are also adopting inorganic growth strategies such as mergers & acquisitions to diversify product portfolio and enhance geographic footprint.
South America Durable Medical Equipment Market Taxonomy:
By Product Type
By End User
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