U.S. Durable Medical Equipment Market Growth & Trends
The U.S. durable medical equipment market size is expected to reach USD 92.9 billion by 2030, according to a new report by Grand View Research, Inc. It is expected to expand at a CAGR of 5.7% from 2023 to 2030. The rising prevalence of chronic diseases and increasing penetration of home healthcare services and staff are the key factors driving the product demand. The demand for durable medical equipment (DME) is projected to witness a rise during the forecast period due to high adoption.
The COVID-19 pandemic has disrupted the transportation and supply chain of the DME market due to the restrictions imposed by the government. As the demand for the equipment increases for medical purposes to fight against COVID-19, the supply of the product also increases. COVID-19 led to an increase in the demand for medical beds and therapeutic mattresses, and volumes were also high within the U.S. rental operations.
The growing aging population and rising shift towards shorter hospital stays are making home healthcare more common. With these trends, a significant number of medical devices, such as patient monitoring systems and mobility aids, are in great demand. Furthermore, the current coronavirus pandemic has presented unusual and extraordinary challenges to the healthcare system.
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U.S. Durable Medical Equipment Market Report Highlights
By product, the monitoring and therapeutic devices segment accounted for the largest revenue share of over 89.3%. This can be attributed to the increasing prevalence of chronic diseases requiring long-term care
The personal mobility devices product segment is anticipated to be the fastest-growing product segment over the forecast period
An increasing number of disorders, such as spinal cord injuries, osteoporosis, and rheumatoid arthritis, are driving the demand for mobile devices in the U.S.
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