Durable Medical Equipment Market Trends

Durable Medical Equipment Market Trends

Rising elderly population base across the globe is regarded as the major factor contributing in fuelling the industry growth. The number of older population’s aged 80 years and above is projected to grow at a much faster rate than the younger population. According to WHO, by 2020, the number of individuals aged 60 years and above will outnumber children younger than five years. Additionally, proportion of the world’s population over 60 years will double from 12% to 22% between 2015 to 2050. Thus, growing geriatric base will significantly propel the industry expansion during the forecast period.
 

Elderly population base is more prone to falls and injury as compared to other age groups. For instance, according to the WHO, nearly 28%-35% of people aged 65 and over fall, whereas, the percentage has increased to 32%-42% for people aged over 70 years. Similarly, the fall injuries such as spinal cord injuries, fractures have highly increased in the last three decades. Therefore, durable medical equipment is used by the geriatric population for their activities of daily living (ADLs), that further boosts the industry progression. However, lack of skilled professionals may hinder the market demand.