Durable Medical Equipment Market - Forecast(2024 - 2030)
Durable Medical Equipment Market Overview:
Durable medical equipment (DME) market refers to the sector of the healthcare industry that involves the production, distribution, and use of medical devices and equipment that are designed for long-term use by patients. These products are typically prescribed by healthcare professionals to assist in the treatment and management of various medical conditions and disabilities.
Durable medical equipment includes a wide range of products, such as mobility aids (wheelchairs, crutches, walkers), medical beds, respiratory devices (oxygen concentrators, ventilators), monitoring devices (blood pressure monitors, glucose meters), prosthetics, orthotics, and other assistive devices. These products are intended to enhance the quality of life, improve mobility, provide therapeutic benefits, and support the independent living of patients with chronic illnesses, disabilities, or recovering from surgeries.
The market for durable medical equipment has been growing steadily due to several factors, including the aging population, increasing prevalence of chronic diseases, technological advancements in medical devices, and rising healthcare expenditures. As the demand for home-based healthcare Supplies and personalized care increases, the need for durable medical equipment also rises.
Market Snapshot:
Durable Medical Equipment Market- Report Coverage:
The “Durable Medical Equipment Market Report - Forecast (2023-2030)” by IndustryARC, covers an in-depth analysis of the following segments in the Tendonitis Treatment Market.
Attribute | Segment |
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By Device Type |
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Medical Furniture |
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By End Use |
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By Geography |
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Durable Medical Equipment Market- Top Trends:
Growing Aging Population: The global population is aging, leading to an increased demand for healthcare services, including DME. As the elderly population expands, there is a higher need for durable medical equipment such as mobility aids, respiratory devices, and home care equipment.
Technological Advancements: The DME market has been witnessing significant technological advancements. Innovations such as wearable devices, remote patient monitoring systems, smart medical devices, and advanced prosthetics have improved the quality of care and patient outcomes. These technological advancements have also led to the development of more efficient and user-friendly DME products.
Increasing Home Healthcare: There has been a rising trend towards home-based healthcare services. Patients prefer to receive medical care in the comfort of their own homes, leading to an increased demand for DME that enables home healthcare. This includes equipment like home infusion therapy devices, portable oxygen concentrators, and patient monitoring systems.
Increasing Healthcare Expenditure: Rising healthcare expenditure, particularly in developing countries, is contributing to the growth of the DME market. As governments and private healthcare providers invest more in healthcare infrastructure and services, the demand for durable medical equipment is expected to increase.
The Durable Medical Equipment Market- Company Analysis
Medtronic: is a multinational medical technology company that specializes in the development, manufacturing, and distribution of medical devices and therapies. It was founded in 1949 and has since become one of the largest and most well-known companies in the medical technology industry.
Johnson & Johnson (J&J): is a multinational corporation that operates in the healthcare industry. Founded in 1886, J&J has grown to become one of the largest and most recognizable companies in the world. The company is known for its diverse range of products, including pharmaceuticals, medical devices, and consumer healthcare products
Philips Healthcare: a division of Royal Philips, is a leading global provider of healthcare technology solutions. The company offers a wide range of products and services that span the entire healthcare continuum, including imaging systems, patient monitoring, healthcare informatics, and personal health solutions. Here's an analysis of Philips Healthcare
GE Healthcare: is a subsidiary of General Electric (GE) and is a leading provider of medical imaging equipment, healthcare information technology, and other healthcare solutions. Let's analyze the company based on various aspects
Key Market Players:
Product/Service launches, approvals, patents and events, acquisitions, partnerships, and collaborations are key strategies adopted by players in the Durable Medical Equipment Market. The top 10 companies in this industry are listed below:
1. Medtronic
2. Johnson & Johnson
3. Philips Healthcare
4. GE Healthcare
5. Baxter International
6. Siemens Healthineers
7. Becton, Dickinson and Company (BD)
8. 3M Health Care
9. Stryker Corporation
10. Cardinal Health
Scope of Report:
Report Metric | Details |
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Base Year Considered | 2022 |
Forecast Period | 2023 – 2030 |
CAGR | 6.1% |
Market Size in 2030 | 342.8 Billion |
Segments Covered | By Type, By Treatment, By Condition, By Geography |
Geographies Covered |
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Key Market Players |
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