Durable Medical Equipment Market Silver Tsunami: Durable Medical Equipment Market Poised for Growth in an Aging World

Durable Medical Equipment Market to Record an Exponential CAGR of 6.27% by 2031 - Exclusive Report by InsightAce Analytic Pvt. Ltd.

InsightAce Analytic Pvt. Ltd. announces the release of a market assessment report on the "Global Durable Medical Equipment Market - (By Product (Personal Mobility Devices (Wheelchairs, Scooters, Walker and Rollators, Cranes and Crutches, Door Openers, and Others),

Bathroom Safety Devices & Medical Furniture (Commodes and Toilets and Mattress & Bedding Devices), and Monitoring & Therapeutic Devices (Blood sugar monitors, Continuous Passive Motion (CPM), Infusion Pumps, Nebulizers, Oxygen Equipment, Continuous Positive Airway Pressure (CPAP), Suction Pumps, Traction Equipment, and Others)), By End User (Hospitals, Nursing Homes, Home Healthcare, and Others)), Trends, Industry Competition Analysis, Revenue and Forecast To 2031."

According to the latest research by InsightAce Analytic, the Global Durable Medical Equipment Market is expected to grow with a CAGR of 6.27% during the forecast period of 2023-2031.

Durable Medical Equipment: Supporting Independence
Durable medical equipment (DME) refers to medical devices that assist patients in managing daily activities more effectively. Vendors often provide training on how to operate the equipment. A key benefit of DME is improved accessibility for daily tasks. Clearer reimbursement and coverage policies are expected to drive market expansion.

An aging global population with an increasing need for specialized facilities is projected to fuel the demand for DME. Treating skeletal, cardiac, and neurological conditions in older adults requires more time and effort due to weakened immune systems.

DME plays a crucial role in both at-home and hospital care for post-operative patients, further supporting industry growth.
However, stringent regulations in developed nations and a shortage of trained personnel to handle this equipment are cited as potential challenges to market expansion.

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List of Prominent Players in the Durable medical equipment market:
• General Electric Company
• Medtronic PLC
• Compass Health Brands
• Getinge AB
• Resmed Inc.
• Koninklijke Philips NV,
• Medical Device Depot Inc.,
• Invacare Corporation
• ArjoHuntleigh
• Stryker Corporation
• Drive Medical
• GF Health Products, Inc.
• Sunrise Medical
• Medline Industries
• Hill Rom, Inc.
• Carex Health Brands
• Becton, Dickinson and Company
• Others

Market Dynamics:

Drivers-
The growing demand for durable medical equipment is fueled by the emergence of new technologies. Manufacturers of durable medical equipment are constantly developing new and improved tools for precisely measuring various physiological variables. This aspect will propel the durable medical equipment market to greater heights. The global demand for therapeutic and monitoring devices also pushes the durable medical equipment market in the right direction.

Challenges:
The prime challenge is strict regulations, a shortage of competent individuals and a lack of norms and protocol because of lockdowns and isolation in emerging countries, which is predicted to slow the growth of the durable medical equipment market because of strict regulatory standards in developed economies and a lack of qualified operators for this machinery.

Nonetheless, the anticipated expansion of the worldwide market can be substantially curbed by the exorbitant prices of medical equipment. Global events like pandemics or breakages in the supply chain can significantly impact the accessibility of long-term medical equipment. Damage to DME's supply chain was further exacerbated by the government closure that followed the COVID-19 pandemic.

Supply chain disruptions have affected nebulizers, oxygen concentrators, CPAP machines, and RADs, among other products. There is already a high level of demand for the products on the market, and storage risks have increased that demand.

Regional Trends:
The North American durable medical equipment market is anticipated to register a maximum market share in revenue. It is projected to grow at a high CAGR in the near future because the prevalence of long-term health problems, including diabetes, high blood pressure, and hypertension, is on the rise.

Another reason the regional market is growing is the increasing number of older adults and the number of hospitals in the area. Besides, Europe had a considerable share in the market due to government initiatives to increase access to healthcare, the introduction of new medical equipment, the high prevalence of chronic diseases, and the growing preference for home healthcare.

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Recent Developments:

• In Oct 2023, Sunrise Medical completed the acquisition of Ride Designs, a business renowned for its expertise in developing personalized seating solutions for those using wheelchairs. The acquisition indicated a broadening of Sunrise Medical's range of bespoke seating options, clinical knowledge, and service capacities. Ride Designs bolstered Sunrise Medical's track record in mergers and acquisitions, which was deemed a crucial component of its business strategy.

• In Feb 2022, Invacare Corporation unveiled a more compact iteration of the Invacare AVIVA STORM RX rear-wheel drive electric wheelchair. The narrow base variant of the AVIVA STORM RX, a cutting-edge chair introduced in August 2021, presented various novel enhancements in contrast to the conventional version. The AVIVA STORM RX series represented a significant advancement in the company's rear-wheel-drive power wheelchairs, aiming to enhance the end-user's experience by incorporating cutting-edge design, technology, and performance.

Segmentation of Durable Medical Equipment market -
By Product-
• Personal Mobility Devices
o Wheelchairs,
o Scooters,
o Walker and Rollators,
o Cranes and Crutches,
o Door Openers,
o Others
• Bathroom Safety Devices & Medical Furniture
o Commodes and Toilets
o Mattress & Bedding Devices
• Monitoring & Therapeutic Devices
o Blood sugar monitors,
o Continuous Passive Motion (CPM),
o Infusion Pumps,
o Nebulizers,
o Oxygen Equipment,
o Continuous Positive Airway Pressure (CPAP),
o Suction Pumps,
o Traction Equipment,
o Others
By End User-
• Hospitals
• Nursing Homes
• Home Healthcare
• Others
By Region-
North America-
• The US
• Canada
• Mexico
Europe-
• Germany
• The UK
• France
• Italy
• Spain
• Rest of Europe
Asia-Pacific-
• China
• Japan
• India
• South Korea
• South East Asia
• Rest of Asia Pacific
Latin America-
• Brazil
• Argentina
• Rest of Latin America
Middle East & Africa-
• GCC Countries
• South Africa
• Rest of the Middle East and Africa

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