Durable Medical Equipment Market to Worth USD 329.01 Billion by 2030

Durable medical equipment market is segmented based on the product and end-use. Based on product, the market is segmented into personal mobility devices, bathroom safety devices and medical furniture, monitoring and therapeutic devices, and others. In terms of end-user, the market is segmented into hospitals, home healthcare, nursing homes, and others-Industry forecast 2023-2030

Westford,USA, July 26, 2023 (GLOBE NEWSWIRE) -- According to SkyQuest, the durable medical equipment market is anticipated to experience significant growth, primarily driven by the rising prevalence of various medical conditions. There has been an increasing incidence of cancer, cardiac disorders, neurological diseases, and gynecological complications globally, leading to a higher demand for medical equipment that can aid in diagnosis, treatment, and patient care.

Browse in-depth TOC on the "Durable Medical Equipment Market"

Pages - 260

Tables - 94

Figures – 76

The durable medical equipment market is experiencing robust growth, primarily driven by two key factors. There is a growing focus on home care settings for managing medical conditions and illnesses in patient populations. As healthcare systems aim to provide more personalized and patient-centric care, the shift towards home-based medical management is gaining traction.

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Report Scope & Segmentation:

Attributes

Details

Market Size in 2022

USD 207.99Billion

2030 Value Projection

USD 329.01Billion

CAGR

5.9%

Forecast Period

2023-2030

Segments Covered

Product

End-use

Regions Covered

North America

Europe

Asia Pacific

Latin America

Middle East and Africa

Prominent Players in the Durable Medical Equipment Market

Invacare Corporation

Drive Medical

Hill-Rom Holdings, Inc.

Stryker Corporation

ArjoHuntleigh

Medline Industries, Inc.

Permobil AB

Sunrise Medical LLC

GF Health Products, Inc.

Pride Mobility Products Corporation

Medtronic plc

Otto Bock Healthcare

DJO Global, Inc.

ResMed Inc.

Becton, Dickinson and Company (BD)

3M Health Care

Smith & Nephew plc

Baxter International Inc.

Teleflex Incorporated

Zimmer Biomet Holdings, Inc.

Monitoring and Therapeutic Devices Segment is Expected to Grow in the Market Due to the Prevalence of Lifestyle-Related Diseases

The monitoring and therapeutic devices segment dominated the durable medical equipment market with an impressive market share of 89.4%. This segment is expected to continue its growth trajectory during the forecast period, fueled by several key factors. The prevalence of lifestyle-related diseases, such as diabetes, cardiovascular disorders, and respiratory ailments, is rising worldwide.

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The markets inthe North America emerged as the dominant durable medical equipment market, capturing the largest revenue share of 32.5%. The region's strong market presence can be attributed to several key factors. The recent economic slowdown has led to an increased preference for rental services, as it offers a more cost-effective solution for patients and healthcare facilities alike.

Bathroom Safety and Medical Furniture Segment is Expected to Dominate the Market Due toIncreasing Prevalence of Chronic Diseases

The bathroom safety and medical furniture segment emerged as the dominant force in the durable medical equipment market, commanding the largest revenue share of 56.4%. The significant growth of this segment can be attributed to the increasing prevalence of chronic diseases that require long-term care, prompting higher demand for rental services for essential equipment in patient homes.

Regional markets in the Asia Pacific are projected to experience significant growth, emerging as the fastest-growing durable medical equipment market. Several factors are driving this rapid expansion. The region is witnessing a rising target population base, with an increasing number of individuals affected by chronic diseases.

A comprehensive analysis of the major players in the durable medical equipmentmarket has been recently conducted in a report. The report encompasses various aspects, including collaborations, mergers, innovative business policies, and strategies, providing valuable insights into key trends and breakthroughs in the market. Furthermore, the report scrutinizes the market share of the top segments and presents a detailed geographic analysis. Lastly, the report highlights the major players in the industry and their endeavours to develop innovative solutions to cater to the growing demand.

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Key Developments in the Durable Medical Equipment Market

DexCom Inc. achieved a significant milestone by receiving the CE Mark for its Dexcom G7 Continuous Glucose Monitoring (CGM) System in 2022. This approval allows the company to market and distribute the innovative CGM system in Europe, catering to individual’s aged two years and older living with diabetes, including pregnant women. The Dexcom G7 CGM System offers continuous and real-time monitoring of glucose levels, enabling better management of diabetes and providing patients with valuable insights into their health.

ASPIRE recently made a noteworthy contribution to the healthcare industry by introducing the ASPIRE SOCIALITE WHEELCHAIR in Australia. This cutting-edge transport chair is designed to be ultra-lightweight while boasting a safe working load capacity of 115kg, making it suitable for a wide range of users with varying mobility needs.

Key Questions Answered in Durable Medical Equipment Market Report

What specific growth drivers are projected to impact the market during the forecast period?

List the top companies in the market and explain how they have achieved their positions of influence.

In what ways do regional trends and patterns differ within the global market, and how these differences shape the market's future growth?

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