Market Trends of United States Durable Medical Equipment Industry
This section covers the major market trends shaping the US Durable Medical Equipment Market according to our research experts:
The Vital Sign Monitor Segment is Expected to Hold a Major Share During the Forecast Period.
By device type, the vital sign monitor segment is expected to hold a major share in the market and is expected to do the same over the forecast period.
The vital signs of hospitalized patients are evaluated to assess the patient's clinical state at an early stage and to detect clinical deterioration. Blood pressure (BP), heart rate (HR), respiratory rate (RR), oxygen saturation (SpO 2), and core temperature are among the vital indicators that are typically monitored. Consistent vital sign monitoring is necessary for the early diagnosis of clinical deterioration in hospitalized patients. It is mostly monitored by healthcare professionals, who measure and document all patients' key vital signs two or three times each day to check their status. Owing to the large number of patients admitted to hospitals due to several illnesses as a result of the recent COVID-19 pandemic, vital sign monitors have become a necessary tool to manage patients within healthcare settings. Thus, the companies are engaged in numerous product launches and approvals of these products, resulting in the segment's growth. For instance, the United States Food and Drug Administration authorized Phillips wearable biosensor "Philips Biosensor BX100," a novel method for vital sign measures to better treat verified and suspected COVID-19 patients in hospitals, in May 2020.
Furthermore, in March 2020, Hillrom, an American corporation, undertook initiatives to provide critical care devices to consumers and caregivers in order to satisfy the ongoing COVID-19 patient demands. The company increased the production of its devices, with the goal of more than doubling capacity in areas such as respiratory health, particularly Life2000, a non-invasive ventilator; ICU and med-surg unit smart beds; and patient monitoring and diagnostics, including the company's Connex and Spot Vital Signs monitors, among others.
Therefore, owing to the abovementioned factors, this segment is expected to drive the segment growth over the forecast period.
