Durable Medical Equipment Market Set for Major Growth (2024-2031) | Stryker Corporation, Becton, Dickinson and Company.

DataM Intelligence has released a new research report on the Durable Medical Equipment market. The report provides a detailed analysis of current and emerging trends, offering insights into the market dynamics. It utilizes Porter's Five Forces model to assess key factors such as supplier and customer relationships, risks from various agents, competitive intensity, and opportunities for new entrants. The study also includes research data from various companies, analyzing factors like benefits, gross margins, and strategic decisions in the global market. The report is enriched with tables, charts, and infographics for a clear presentation of the findings.

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.

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The durable medical equipment (DME) market involves the production and distribution of long-lasting medical devices designed for repeated use in patient care. This includes items such as wheelchairs, oxygen equipment, hospital beds, and mobility aids. The market is driven by an aging population, rising prevalence of chronic diseases, and advancements in medical technology. Additionally, increasing healthcare expenditure and a shift toward home healthcare services are boosting demand for DME, making it a vital component of modern healthcare systems.

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

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

Market Dynamics:

The rising demand for durable medical equipment (DME) is significantly contributing to market growth. This trend is largely driven by the increasing prevalence of chronic diseases and the growing geriatric population. According to the World Health Organization (WHO), in 2020, approximately 27.5 million people were living with HIV, and around 5.8 million were affected by tuberculosis. Furthermore, non-communicable diseases are responsible for over 41 million deaths each year, accounting for 74% of global fatalities. Notably, more than 17 million of these deaths are considered premature, with 86% occurring in low- and middle-income countries.

Additionally, the global geriatric population was over 1.4 billion in 2020, with projections indicating it could reach 2.1 billion by 2050. This demographic shift places a significant healthcare burden on systems worldwide. In response to this demand, healthcare spending in European Union countries averaged approximately $98,556.72 per capita in 2021, as reported by the Organization for Economic Co-operation and Development (OECD).

These factors collectively underscore the growing need for durable medical equipment to support patient care and management, driving market growth in the forecast period.

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.

Segment Covered in the Durable Medical Equipment Market:

By Product Type: Personal Mobility Devices, Medical Furniture, Bathroom Safety Devices, Monitoring and Therapeutic Devices.

By End-user Segment: Ambulatory Surgical Centers (ASCs), Diagnostic Centers, Hospitals & Clinics, Home Healthcare.

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Regional Analysis:

➣ North America (US, Canada, Mexico)

➣ Europe (Germany, Russia, UK, France, Italy, Spain, Rest of Europe)

➣ Asia-Pacific (China, India, Japan, Australia, Rest of Asia Pacific)

➣ South America (Brazil, Argentina, Rest of South America)

➣ Middle East and Africa

**The full version of the report includes an in-depth analysis of emerging players and startups, which will provide valuable insights into the evolving market landscape and key strategies being adopted**

Chapter Outline:

⏩ Market Overview: It contains five chapters, as well as information about the research scope, major manufacturers covered, market segments, Durable Medical Equipment market segments, study objectives, and years considered.

⏩ Market Landscape: The competition in the Global Durable Medical Equipment Market is evaluated here in terms of value, turnover, revenues, and market share by organization, as well as market rate, competitive landscape, and recent developments, transaction, growth, sale, and market shares of top companies.

⏩ Companies Profiles: The global Durable Medical Equipment market's leading players are studied based on sales, main products, gross profit margin, revenue, price, and growth production.

⏩ Market Outlook by Region: The report goes through gross margin, sales, income, supply, market share, CAGR, and market size by region in this segment. North America, Europe, Asia Pacific, Middle East & Africa, and South America are among the regions and countries studied in depth in this study.

⏩ Market Segments: It contains the deep research study which interprets how different end-user/application/type segments contribute to the Durable Medical Equipment Market.

⏩ Market Forecast: Production Side: In this part of the report, the authors have focused on production and production value forecast, key producers forecast, and production and production value forecast by type.

⏩ Research Findings: This section of the report showcases the findings and analysis of the report.

⏩ Conclusion: This portion of the report is the last section of the report where the conclusion of the research study is provided.

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The Research Report Offers Answers To The Following Questions:

☛ What is the expected growth rate of the global market for the forecast period?

☛ What are the key driving factors that are responsible to shape the fate of the Durable Medical Equipment market during the forecast period?

☛ What will be the overall size of the market during the analysis period?

☛ What are the prominent market trends which influence the development of the Durable Medical Equipment market across various regions?

☛ Who are the key market players and the market strategies that have helped them to secure the leading position in the global market?

☛ What are the challenges and threats that are likely to act as a barrier to the growth of the Durable Medical Equipment market?

☛ What are the major opportunities that the companies can get to attain success in the world?

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