Durable Medical Equipment Size Expected to Reach USD $ 342.8 Billion in 2030 3,19,982 Million with CAGR of 6.15.50 % by 2030 – IndustryARC
Research Reports
Oct 12, 2023
Durable Medical Equipment Size Expected to Reach USD $ 342.8 Billion in 2030 with CAGR of 6.1% by 2030 – IndustryARC
Durable Medical Equipment (DME) market is a vital component of the healthcare industry, encompassing a wide range of products and devices designed to assist patients in their daily lives and manage various medical conditions. These items are intended for long-term use and play a crucial role in enhancing the quality of life for patients with chronic illnesses, disabilities, or those recovering from injuries or surgeries.
The Durable Medical Equipment Market size was valued at USD 213.5 Billion in 2022, and it is expected to reach USD 342.8 Billion in 2030 growing at a compound annual growth rate (CAGR) of 6.1% from 2023 to 2030.
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.
Durable Medical Equipment Market Current and Future Trends
Durable Medical Equipment Market is a condition characterized by the inflammation or irritation of a tendon, which is the thick cord that attaches muscles to bones. The treatment of tendonitis typically involves both conservative and medical approaches. Here are some trends and developments in the treatment of tendonitis
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.
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Durable Medical Equipment Market Report – Scope:
The Durable Medical Equipment Market has been segmented by Type, Treatment, Condition, and geography. The report provides insights into the market dynamics, including market drivers and challenges.
Durable Medical Equipment Market Report analyzes market trends, key players, and growth opportunities in the Durable Medical Equipment Market.
The competitive landscape section features company profiles of major players such as Medtronic and Johnson & Johnson. This report is a valuable source of guidance and direction for companies and individuals interested in the market.
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The top 10 players in the Tendonitis Treatment industry are:
- Medtronic
- Johnson & Johnson
- Philips Healthcare
- GE Healthcare
- Baxter International
- Siemens Healthineers
- Becton, Dickinson and Company (BD)
- 3M Health Care
- Stryker Corporation
- Cardinal Health
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