Durable Medical Equipment Market is Expected to Grow at a CAGR of 5.3% During 2024-2031, Reaching US$ 324.34 billion - Stryker Corporation, Becton, Dickinson and Company.

The Global Durable Medical Equipment Market reached US$ 215.50 billion in 2023 and is expected to reach US$ 324.34 billion by 2031, growing at a CAGR of 5.3% during the forecast period 2024-2031.

Durable Medical Equipment Market report, published by DataM Intelligence, provides in-depth insights and analysis on key market trends, growth opportunities, and emerging challenges. Committed to delivering actionable intelligence, DataM Intelligence empowers businesses to make informed decisions and stay ahead of the competition. Through a combination of qualitative and quantitative research methods, it offers comprehensive reports that help clients navigate complex market landscapes, drive strategic growth, and seize new opportunities in an ever-evolving global market.

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Durable medical equipment (DME) refers to medical devices designed for long-term use in healthcare and home settings. Examples include wheelchairs, oxygen concentrators, hospital beds, and CPAP machines. DME improves the quality of life for individuals with chronic illnesses or disabilities, providing essential support for mobility, respiratory care, and rehabilitation. The market is expanding due to an aging population and increasing prevalence of chronic diseases. Healthcare reimbursement policies and technological advancements in assistive devices are further driving growth.

List of the Key Players in the Durable Medical Equipment Market:

Stryker Corporation, Becton, Dickinson and Company, Invacare Corporation, Sunrise Medical, Cardinal Health, Medline Industries Inc., Baxter International Inc., Hill-Rom Holdings Inc., GF Health Products Inc., ArjoHuntleigh, Medtronic plc.

Industry Development:

On March 15, 2022, Stryker launched the Power-PRO 2, a next-generation powered ambulance cot designed to enhance patient transport and emergency medical services (EMS) operations. The Power-PRO 2 features advanced connectivity, improved ergonomics, and enhanced safety features to support EMS professionals in delivering efficient and high-quality care. The cot is integrated with wireless connectivity, allowing seamless data transfer and fleet management, while its improved battery technology ensures extended operational efficiency. Additionally, it incorporates an enhanced load system that minimizes strain on paramedics, reducing the risk of injury. With these innovations, Stryker aims to optimize patient handling, improve response times, and enhance overall EMS workflow efficiency.

Market Dynamics:

The increasing demand for durable medical equipment is driving global market growth due to the rising prevalence of chronic diseases and the expanding geriatric population. According to the World Health Organization (WHO), in 2020, 27.5 million people were infected with HIV and 5.8 million with tuberculosis. Additionally, non-communicable diseases account for over 41 million deaths annually, representing 74% of global deaths, with more than 17 million premature deaths each year, 86% of which occur in low- and middle-income countries. The global geriatric population, which stood at 1.4 billion in 2020, is projected to reach 2.1 billion by 2050, further increasing the demand for medical equipment. This rising healthcare burden resulted in $98,556.72 per capita healthcare spending in European Union countries in 2021, according to data from the Organization for Economic Co-operation and Development (OECD). These factors are expected to drive significant market growth over the forecast period.

Growth Forecast Projected:

The Global Durable Medical Equipment Market is anticipated to rise at a considerable rate during the forecast period, between 2024 and 2031. In 2023, the market is growing at a steady rate, and with the rising adoption of strategies by key players, the market is expected to rise over the projected horizon.

Research Process:

Both primary and secondary data sources have been used in the global Durable Medical Equipment Market research report. During the research process, a wide range of industry-affecting factors are examined, including governmental regulations, market conditions, competitive levels, historical data, market situation, technological advancements, upcoming developments, in related businesses, as well as market volatility, prospects, potential barriers, and challenges.

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Segment Covered in the Durable Medical Equipment Market:

By Product Type: Personal Mobility Devices (Wheelchairs, Walker and Rollators, Cranes and Crutches), Medical Furniture (Medical Beds, Stretchers, Lift Chairs), Bathroom Safety Devices (Commodes, Toilet Rails/Frames), Monitoring and Therapeutic Devices (Blood Glucose Monitors, Oxygen Concentrators, Vital Sign Monitors, Infusion pumps, Nebulizers, Positive Airway Pressure (PAP).

By End-user Segment: Diagnostic Centers, Hospitals & Clinics, Home Healthcare.

Regional Analysis for Durable Medical Equipment Market:

The regional analysis of the Durable Medical Equipment Market covers key regions including North America, Europe, Asia Pacific Middle East and Africa and South America. The North America with a focus on the U.S., Canada, and Mexico; Europe, highlighting major countries like the U.K., Germany, France, and Italy, along with other nations in the region; Asia-Pacific, covering India, China, Japan, South Korea, and Australia, among others; South America, with emphasis on Colombia, Brazil, and Argentina; and the Middle East & Africa, which includes Saudi Arabia, the U.A.E., South Africa, and other countries. This comprehensive regional breakdown helps identify unique market trends and growth opportunities specific to each area.

⇥ North America (U.S., Canada, Mexico)

⇥ Europe (U.K., Italy, Germany, Russia, France, Spain, The Netherlands and Rest of Europe)

⇥ Asia-Pacific (India, Japan, China, South Korea, Australia, Indonesia Rest of Asia Pacific)

⇥ South America (Colombia, Brazil, Argentina, Rest of South America)

⇥ Middle East & Africa (Saudi Arabia, U.A.E., South Africa, Rest of Middle East & Africa)

Benefits of the Report:

➡ A descriptive analysis of demand-supply gap, market size estimation, SWOT analysis, PESTEL Analysis and forecast in the global market.

➡ Top-down and bottom-up approach for regional analysis

➡ Porter's five forces model gives an in-depth analysis of buyers and suppliers, threats of new entrants & substitutes and competition amongst the key market players.

➡ By understanding the value chain analysis, the stakeholders can get a clear and detailed picture of this Market

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People Also Ask:

➠ What is the global sales, production, consumption, import, and export value of the Durable Medical Equipment market?

➠ Who are the leading manufacturers in the global Durable Medical Equipment industry? What is their operational status in terms of capacity, production, sales, pricing, costs, gross margin, and revenue?

➠ What opportunities and challenges do vendors in the global Durable Medical Equipment industry face?

➠ Which applications, end-users, or product types are expected to see growth? What is the market share for each type and application?

➠ What are the key factors and limitations affecting the growth of the Durable Medical Equipment market?

➠ What are the various sales, marketing, and distribution channels in the global industry?

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