The North America durable medical equipment market is expected to reach US$ 131,013.4 Mn in 2027 from US$ 75,507.9 Mn in 2018. The market is estimated to grow with a CAGR of 6.7% from 2019-2027.
The growth of the market is driven by the factors such as, rising prevalence of chronic diseases, increasing elderly population and growing incidents of road accidents. However, high cost of therapeutic products and procedures is likely to act as a restraining factor for the growth of market.
The North American region is likely to witness growth in the durable medical equipment market owing to growing prevalence of cardiovascular disorders, increasing incidence of sleep apnea and respiratory disorders as well as cases of diabetes. The heart disease is the second major cause of the death after cancer in Canada. As per the data revealed by the Canadian Chronic Disease Surveillance System, during 2012 to 2013 around 2.4 million Canadian adults of aged 20 years and above lived with ischemic heart disease which included almost 578,000 people having history of an acute myocardial infraction. Also the data was provided for the patients living with heart failure it states that approximately 3.6% Canadians of age group 40 years and above are living with the heart failure.
Canada also has witnessed a rise in the cases of respiratory disorders such as asthma and chronic obstructive pulmonary disease (COPD). Also, about 2.4 million Canadians are reported to be living with asthma. In 2016, 8.4% of Canadians aged 12 and above (i.e. almost 2.6 million people) reported to have been diagnosed with asthma by a health professional.
In addition, during the year 2016 to 2019, various companies have made organic and inorganic growth strategies in the market there are operating. Some of the activities undertaken by the company, which have promoted its growth are, product launches, acquisition and partnership. The organic developments undertaken by the companies have led to the growth of the market as well as helped in the company’s development. For instance, in April, 2019, Royal Philips launched the DreamWisp that allows patients with sleep apnea to sleep in normal position. DreamWisp delivers a new level of comfort and freedom of movement, providing patients with the therapy option.
US is expected to be the fastest growing market for the durable medical equipment during the forecast owing to factors such as rise in the prevalence of cardiovascular and lung disorders, increasing geriatric population along with rise in the number of sleep apnea cases.
NORTH AMERICA DURABLE MEDICAL EQUIPMENT – MARKET SEGMENTATION
By Device Type
By End User
By Geography
• North America
Company Profiles
| Report Attribute | Details |
|---|---|
| Market size in 2018 | US$ 75,507.9 Million |
| Market Size by 2027 | US$ 131,013.4 Million |
| CAGR (2019 - 2027) | 6.7% |
| Historical Data | 2016-2017 |
| Forecast period | 2019-2027 |
| Segments Covered |
By Device Type
|
| Regions and Countries Covered |
North America
|
| Market leaders and key company profiles |
|
The North America Durable Medical Equipment Market is valued at US$ 75,507.9 Million in 2018, it is projected to reach US$ 131,013.4 Million by 2027.
As per our report North America Durable Medical Equipment Market, the market size is valued at US$ 75,507.9 Million in 2018, projecting it to reach US$ 131,013.4 Million by 2027. This translates to a CAGR of approximately 6.7% during the forecast period.
The North America Durable Medical Equipment Market report typically cover these key segments-
The historic period, base year, and forecast period can vary slightly depending on the specific market research report. However, for the North America Durable Medical Equipment Market report:
The North America Durable Medical Equipment Market is populated by several key players, each contributing to its growth and innovation. Some of the major players include:
The North America Durable Medical Equipment Market report is valuable for diverse stakeholders, including:
Essentially, anyone involved in or considering involvement in the North America Durable Medical Equipment Market value chain can benefit from the information contained in a comprehensive market report.
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