According to a new report from Grand View Research, the U.S. durable medical equipment (DME) market is expected to reach $70.7 billion by 2025.

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.

Home healthcare is a comparatively sound option economically 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 various products.

The increasing global geriatric population base is expected to propel the U.S. DME market as well. Presently, there are more than 40 million people in the U.S. aged 65 years and above, and this number is anticipated to double by 2050.

Further key findings from the study suggest:

• Monitoring and therapeutic devices held lucrative share in U.S. DME vertical. This segment is inclusive of a wide range of devices used for long-term care for numerous disorders such as cardiovascular, neurological and cancer.
• Personal mobility devices are anticipated to gain significant share over the forecast period. Introduction of technologically advanced products is likely to help this segment’s growth.
• The key players for the U.S. DME market include ArjoHuntleigh, Invacare, Sunrise Medical, Stryker, Hill Rom, Drive Medical, Medline Industries, Carex Health Brands and GF Health Products.
• New product launches, mergers and acquisitions and collaboration are the key strategic undertakings by these players. For instance, in February 2017, Hill-Rom acquired Mortara Instrument, a Wisconsin-based medical device manufacturer to increase its medical device product portfolio and revenue growth.