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What is the Expected Growth Rate of the Durable Medical Equipment Market Based on Industry Projections?

The market size of durable medical equipment has seen robust expansion in recent years. It’s projected to escalate from $216.92 billion in 2024 to $231.73 billion in 2025, boasting a compound annual growth rate (CAGR) of 6.8%. Factors such as the prevalence of chronic diseases, reimbursement policies, heightened awareness and education, the evolution of healthcare infrastructure, governmental actions, global disease epidemics, and patient empowerment have contributed to this growth during the historic period.

The market for durable medical equipment is predicted to significantly expand in the upcoming years, reaching a value of $316.13 billion in 2029 with a compound annual growth rate (CAGR) of 8.1%. This expected growth within the forecast period is due to various factors including the rise of telehealth, adoption of value-based healthcare, increasing healthcare expenses, global health issues, concerns about data security, and a focused approach on preventive healthcare, along with regulatory amendments. Key trends predicted for the forecast period encompass swift technological progress, the introduction of lightweight and mobile solutions, an increased emphasis on preventive healthcare, customized healthcare solutions, and the emergence of home healthcare trends.

How Are the key drivers expanding the growth of the durable medical equipment Market?

The augmenting number of the elderly populace is anticipated to boost the expansion of the durable medical equipment market in the near future. A surge in the aging population implies a growth in the count of senior citizens resulting from shifts in population demographics. More often, this segment of population is affected by conditions associated with aging, necessitating the need for durable medical equipment such as blood glucose analyzers, vital sign monitors, infusion pumps, nebulizers, among others for long-term use. As such, the rapidly aging population contributes to the escalation of the durable medical equipment market. For example, in January 2023, the United Nations, a US-based organization aimed at preserving global peace and security, predicted that the population aged 65 years or above worldwide will rise from 761 million in 2021 to 1.6 billion in 2050. Consequently, the swelling aging population propels the sturdy medical equipment market’s growth.

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Who Are the Influential Players Fueling Innovation and Growth in the Durable Medical Equipment Market?

Major companies operating in the durable medical equipment market include:

• Invacare Corporation_x000D_

• GF Health Products Inc._x000D_

• Stryker Corporation_x000D_

• Hill-Rom Holdings Inc._x000D_

• Siemens Healthcare GmbH_x000D_

What Impact Are Industry Trends Having on the Durable Medical Equipment Market’s Future Prospects?

The adoption of cutting-edge technologies is a notable trend emerging in the durable medical equipment market. Top organizations engaged in this market are leveraging new technologies to consolidate their market presence. Take for example Dexcom, a US company involved in the design, production, manufacture, and distribution of continuous glucose monitoring systems. In March 2023, they unveiled the Dexcom G6 CGM System aimed at all qualifying patients suffering from type 1 and type 2 diabetes in Canada. This system employs a compact, wearable sensor and transmitter to continuously record and wirelessly transmit glucose levels to a smart device.

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How Are Key Segments Defining the Competitive Landscape of the Durable Medical Equipment Market?

The durable medical equipment market covered in this report is segmented –

1) By Product: Personal Mobility Devices, Bathroom Safety Devices And Medical Furniture, Monitoring And Therapeutic Devices, Other Products

2) By Payer: Public, Private, Out-Of-Pocket

3) By End-Use: Hospitals, Nursing Homes, Home Healthcare, Other End-Uses

Subsegments:

1) By Personal Mobility Devices: Wheelchairs, Scooters, Walkers And Canes, Crutches

2) By Bathroom Safety Devices And Medical Furniture: Grab Bars, Shower Chairs, Commodes, Hospital Beds, Bedside Tables

3) By Monitoring And Therapeutic Devices: Blood Pressure Monitors, Glucose Monitors, Nebulizers, CPAP Machines

4) By Other Products: Orthotic Devices, Respiratory Equipment, Mobility Aids

What Regions Are Leading the Growth Trajectory of the Durable Medical Equipment Market?

North America was the largest region in the durable medical equipment market in 2024. The regions covered in the durable medical equipment market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa

What Are the Key Characteristics That Define the Durable Medical Equipment Market?

Durable medical equipment (DME) refers to any medical device or supplies that are necessary to maintain a person’s health and can be used on a long-term basis. These are ordered by a doctor, a qualified nurse practitioner, a physician assistant, or a clinical nurse specialist for a patient’s routine, long-term use.

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