The U.S. durable medical equipment market size is expected to reach USD 79.6 billion by 2027, exhibiting a 6.0% CAGR over the forecast period, according to a new report published by Radiant Insights, Inc. Increasing incidence of cancer and other diseases such as diabetes, rheumatoid arthritis, and multiple sclerosis is projected to propel the growth. In addition, increasing approvals of durable medical equipment (DME) is anticipated to drive the product adoption. Rising prevalence of chronic diseases requiring long-term care, rapidly growing geriatric population, and increasing penetration of home healthcare services and staff are other factors driving the product demand.
The demand for durable medical equipment is expected to witness rise over the forecast period, as they are designed in accordance with patient acceptance and compliance. Rapid technological developments and investments in R&D activities by the key market players are anticipated to make these product more convenient and user-friendly. This is encouraging patients to adopt this DME technology for chronic illnesses, which in turn is projected to drive the growth of the market in the forthcoming years.
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Further key findings from the report suggest:
• Monitoring and therapeutic devices emerged as the largest segment during the forecast period, owing to the ease of use of the products
• Rising demand for new technologies along with advanced healthcare infrastructure is facilitating the market growth during the forecast period
• Personal mobility devices is anticipated to be the fastest-growing segment over the study period as these facilities offer custodial care like door openers, wheelchairs and scooters.
• Few of the key players operating in the U.S. durable medical equipment market include Invacare Corporation; Sunrise Medical; ArjoHuntleigh; Hill-Rom; Stryker; Medline Industries, Inc.; Medical Device Depot, Inc.; GF Health Products Inc.; Carex Health Brands; Baxter International, Inc.; Becton, Dickinson and Company; and Joerns Healthcare LLC
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Table of Contents
Chapter 1. Methodology and Scope
1.1. Market Segmentation & Scope
1.1.1. Product Type
1.1.2. Estimates and forecast timeline
1.2. Research Methodology
1.3. Information Procurement
1.3.1. Purchased database
1.3.2. GVR’s internal database
1.3.3. Secondary sources
1.3.4. Primary research
1.4. Information or Data Analysis
1.4.1. Data analysis models
1.5. Market Formulation & Validation
1.6. Model Details
1.6.1. Commodity flow analysis (Model 1)
1.6.1.1. Approach 1: Commodity flow approach
1.6.2. Volume price analysis (Model 2)
1.6.2.1. Approach 2: Volume price analysis
1.7. List of Secondary Sources
1.8. List of Primary Sources
1.9. Objectives
1.9.1. Objective 1
1.9.1.1 Understanding the market dynamics (in terms of drivers, restraints & opportunities) in the U.S. country
1.9.1.2 Understanding the trends & variables in the individual countries to & their impact on growth and analytical tools to provide high level insights into the market dynamics and the associated growth pattern
1.9.2. Objective 2
1.9.2.1 Understanding the market estimates and forecasts (with the base year as 2019, historic information of 2016 - 2018, and forecast from 2020 to 2027). Country level estimates and forecasts for each category are available and are summed up to form the market.
1.9.3. Objective 3
1.9.3.1 Understanding the attributes such as strategy framework, competitor categorization which are included to provide elaborate details on the market structure & strategic undertakings & their impact. Company profiles are individually represented for all major participants and indices such as financial performance, strategic initiatives, and product portfolio & company overview are used for analyses.
1.9.4. Objective 4
1.9.4.1 Understanding the key service and application scopes to conclude on the market size.
Chapter 2. Executive Summary
2.1. Market Outlook
2.2. Segment Outlook
2.2.1. Product Type
2.3. Competitive Insights
Chapter 3. U.S. Durable Medical Equipment Market Variables, Trends & Scope
3.1. Market Lineage Outlook
3.1.1. Parent market outlook
3.1.2. Related/ancillary market outlook
3.2. Penetration & Growth Prospect Mapping
3.3. Industry Value Chain Analysis
3.3.1. Reimbursement framework
3.4. Market Dynamics
3.4.1. Market driver analysis
3.4.1.1. Increasing prevalence of chronic diseases
3.4.1.2. Increasing penetration of home healthcare services and staff
3.4.1.3. Technological advancements
3.4.1.4. Rapidly increasing geriatric population
Continued…
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About Radiant Insights
Radiant Insights is a platform for companies looking to meet their market research and business intelligence requirements. It assists and facilitate organizations and individuals procure market research reports, helping them in the decisions making process. The Organization has a comprehensive collection of reports, covering over 40 key industries and a host of micro markets. In addition to over extensive database of reports, experienced research coordinators also offer a host of ancillary services such as, research partnerships/ tie-ups and customized research solutions.
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The report “U.S.Durable Medical Equipment Market Share, Size, Trends, Industry Analysis Report By Product {Personal Mobility Devices (Wheelchair, Scooters, Canes and Crutches, Door Openers) Bathroom Safety Devices And Medical Furniture (Commodes and Toilets, Mattress & Bedding Devices) Monitoring And Therapeutic Devices (Blood Sugar Monitors, CPM, Infusion Pumps, Nebulizers, Oxygen Equipment, CPAP, Suction Pumps, Traction Equipment)}; By Regions, Segments & Forecast, 2020- 2026” gives a detailed insight into current market dynamics and provides analysis on future market growth.The medical device manufacturers are developing new and improved equipment based on durability and reliability to improve the quality of life of the patients in need.
Several new organizations are established that are launching and scaling advanced home care models to move primary, acute, and palliative care to the home.
Currently, there are over 40 million people in the U.S. alone aged 65 years & above and this number is anticipated to double by 2050.
Rapidly growing geriatric population, which forms the key target population for DME, is anticipated to bolster the growth of the market over the forecast period.
The growth of home healthcare as a cost-effective alternative over hospital stay is expected to serve this market as a key driver over the forecast period.
Also, DME are primarily used in the home healthcare settings and the fact that remuneration for home health & personal aides are significantly lower than other personal care & service workers and well below the median for all occupations discourages individuals to take up home health aide as a profession, which is expected to restrain market growth.
