2025 Market Reports Update: Market Size Forecasts to 2034, Key Trends, Leading Players, and Top Regions – Get Ahead of the Competition Today!
What Factors Are Propelling the Market Growth of theDurable Medical Equipment Market from 2025 to 2034?
The increasing number of older people, often referred to as the aging population, is anticipated to accelerate the expansion of the durable medical equipment market. This demographic change is largely driven by diseases associated with aging which necessitate the prolonged use of durable medical equipment like blood glucose analyzers, infusion pumps, nebulizers, and vital sign monitors. Hence, the growth of the durable medical equipment market is linked to the surge in the aging population. As of January 2023, the United Nations, a US-based organization promoting global peace and security, projects that the world population aged 65 years and above, will rise from 761 million in 2021 to 1.6 billion in 2050. Consequently, this demographic shift is propelling the durable medical equipment market’s growth.
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#What Are the Key Projections for the CAGR of the Durable Medical Equipment Market From 2025 to 2034?
In recent years, the durable medical equipment market has seen robust growth. The market size, which stands at $216.92 billion in 2024, is projected to expand to $231.73 billion in 2025, reflecting a compound annual growth rate (CAGR) of 6.8%. Factors contributing to this growth during the historic period include the prevalence of chronic diseases, reimbursement policies, increased awareness and education, developments in healthcare infrastructure, government initiatives, global disease outbreaks, and empowerment of patients.
The market for durable medical equipment is predicted to witness significant expansion in the upcoming years, with a projected value of $316.13 billion by 2029, growing at a compound annual growth rate (CAGR) of 8.1%. This expected growth during the forecast period can be linked to several factors such as the development of telehealth, implementation of value-based healthcare, escalating healthcare expenses, worldwide health issues, increasing concern over data security, emphasis on preventive healthcare, and regulatory alterations. The period also sees predominant trends like speedy advancement in technology, the advent of lightweight and portable solutions, prioritization of preventive healthcare, customization in healthcare solutions, and the emergence of home healthcare trends.
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How Are Market Trends and Innovations Revolutionizing theDurable Medical Equipment Industry in Recent Times?
Cutting-edge technology is becoming a central trend in the durable medical equipment market. In order to bolster their market position, leading companies are incorporating innovative technological solutions into their operations. For example, Dexcom, an American firm specializing in the development, manufacturing, and distribution of continuous glucose monitoring systems, introduced its Dexcom G6 CGM System in March 2023 for Canadian patients with type 1 and type 2 diabetes. This system functions through a small, wearable sensor paired with a transmitter, constantly measuring and wirelessly transmitting glucose levels to a smart device.
Which Key Market Players Are Shaping the Future and Growth of theDurable Medical Equipment Market?
Major companies operating in the durable medical equipment market include Invacare Corporation, GF Health Products Inc., Stryker Corporation, Hill-Rom Holdings Inc., Siemens Healthcare GmbH, Koninklijke Philips NV, Sunrise Medical Inc., Drive Medical, Masimo Corporation, Becton Dickinson and Company, Getinge AB, Medtronic PLC, Nihon Kohden Corporation, Mindray Medical International Limited, ArjoHuntleigh, Permobil AB, ResMed Inc., OMRON Corporation, Medline Industries Inc., Abbott, Compass Health Brands, GE Electric Company, Pride Mobility, Baxter International Inc., Roche Diagnostic Equipment, SAMAPLAST
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What Are the Core Segments of the Durable Medical Equipment Market, and How Do They Contribute to Growth?
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
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https://www.thebusinessresearchcompany.com/customise?id=9821&type=smpGlobal Durable Medical Equipment Market, Global Durable Medical Equipment Market Report, Global Durable Medical Equipment Market Trends, Global Durable Medical Equipment Market Size
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