The U.S. durable medical equipment (DME) market is expected to reach USD $70.7 billion by 2025, according to a new report by Grand View Research Inc. Researchers list key drivers as “prevalence of chronic diseases requiring long-term care, rapidly growing geriatric population, and increasing penetration of home healthcare services.”
Increasing prevalence of chronic disorders requiring long-term patient care is anticipated to boost the usage of DME. Diseases such as diabetic foot, pressure ulcers, and cancer, which require long-term patient care and postoperative recovery, are anticipated to contribute toward the growth of U.S. DME market.
The study goes on to call home healthcare a “comparatively economic option over hospital stay. Hence, patients now prefer to avail post-operative recovery and long term care at home settings. Rising demand for home healthcare services opens avenues for the DME market players to up sell and cross sell the various products. Hence, proliferation of home healthcare services translates into growth of U.S. DME market at larger extent.”
Echoing the mantra of many industry watchers, Grand View mentions that the increasing global geriatric population base is expected to propel the U.S. DME market. “Presently, there are over 40 million people in the U.S., aged 65 years and above, and this number is anticipated to double by 2050,” write researchers. “Rapidly growing geriatric population that forms the key target population for DME market is anticipated to bolster the growth of this sector in the U.S. over the forecast period.”