As the population of the United States continues to grow and age, the demand for durable medical equipment (DME) is also on the rise. With an increasing number of people living with chronic conditions, advancements in medical technology, and the growth of home healthcare services, the DME market is poised for significant growth in the coming years.
According to recent reports, the durable medical equipment (DME) market in the US is expected to reach a value of $41.7 billion by 2023, growing at a compound annual growth rate (CAGR) of 5.3% from 2017 to 2023. This growth can be attributed to several factors, including an aging population, the increasing prevalence of chronic conditions, and advances in medical technology.
With an aging population, there is a growing need for equipment that can help people live more comfortably and independently in their homes. This includes products such as mobility aids, respiratory equipment, and home modification products. Furthermore, the rise in chronic conditions, such as diabetes, cardiovascular diseases, and arthritis, is also contributing to the growth of the DME market.
Advancements in medical technology have also had a positive impact on the durable medical equipment (DME) market, with new products being developed to meet the evolving needs of patients. In addition, the growth of home healthcare services has allowed people to receive treatment and care in the comfort of their own homes, further increasing the demand for DME.