North America Durable Medical Equipment Market Competitive Landscape, Strategies, Share, Trends, Segmentation, Growth Forecast

 The North America Sleep Apnea Devices Market is expected to reach US$ 3,705.8 Mn in 2025 from US$ 2,102.4 Mn in 2017. The market is estimated to grow with a CAGR of 7.6% from 2018-2025.

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The growth of the durable medical equipment market is driven by factors such as the rising prevalence of chronic diseases, an aging population, and an increasing number of road accidents. However, the high cost of therapeutic products and procedures may act as a restraining factor for market expansion.

The North American region is expected to witness significant growth in the durable medical equipment market due to the rising prevalence of cardiovascular diseases, increasing cases of sleep apnea and respiratory disorders, and the growing incidence of diabetes. In Canada, heart disease is the second leading cause of death after cancer. According to data from the Canadian Chronic Disease Surveillance System, between 2012 and 2013, approximately 2.4 million Canadian adults aged 20 and above were living with ischemic heart disease, including nearly 578,000 individuals with a history of acute myocardial infarction. Additionally, around 3.6% of Canadians aged 40 and older were reported to be living with heart failure.

Respiratory disorders such as asthma and chronic obstructive pulmonary disease (COPD) have also been on the rise in Canada. About 2.4 million Canadians are reported to be living with asthma, and in 2016, approximately 8.4% of Canadians aged 12 and above—equivalent to nearly 2.6 million people—had been diagnosed with the condition by a healthcare professional.

Between 2016 and 2019, several companies in the market pursued both organic and inorganic growth strategies, including product launches, acquisitions, and partnerships, to strengthen their market presence. These initiatives have contributed to overall market expansion and company development. For example, in April 2019, Royal Philips introduced the DreamWisp, a device designed for sleep apnea patients that allows them to sleep in a natural position. The DreamWisp enhances comfort and freedom of movement, offering a new level of therapy experience.

The U.S. is expected to be the fastest-growing market for durable medical equipment due to factors such as the rising prevalence of cardiovascular and respiratory diseases, an aging population, and the increasing number of sleep apnea cases.

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Business Market Insights is a market research platform that provides subscription service for industry and company reports. Our research team has extensive professional expertise in domains such as Electronics & Semiconductor; Aerospace & Defense; Automotive & Transportation; Energy & Power; Healthcare; Manufacturing & Construction; Food & Beverages; Chemicals & Materials; and Technology, Media, & Telecommunications

Author’s Bio:

Suryakant Gadekar

Senior Market Research Expert at Business Market Insights

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