The durable medical equipment market size is estimated to reach US$ 291,529.57 million by 2027 from US$ 170,885.52 million in 2018; it is estimated to grow at a CAGR of 6.5% during 2019–2027.
Market Insights and Analyst Perspective:
Durable medical equipment (DME) is the utilities or devices that can be used for an extended period, which enables a patient to carry out daily activities. This equipment is used alone or can be used along with other devices for monitoring or therapeutic purposes. The products considered DME include personal mobility devices such as wheelchairs, walkers, and scooters and diagnostic devices like cardiac and blood glucose monitors. Monitoring devices help analyze a patient’s physiological parameters, such as blood pressure, heart rate, blood sugar, pulse rate, blood oxygen levels, and vital signs. These devices play a significant role as they help reduce patient hospitalization time and hospital visits. Therapeutic devices help treat respiratory diseases, cardiac conditions, and metabolic disorders like diabetes. Common therapeutic devices available in the market include infusion pumps, nebulizers, and oxygen equipment. The demand for DME has been rising due to the prevalence of chronic disorders such as sleep apnea, respiratory and cardiovascular diseases, and diabetes. The Asia Pacific durable medical equipment market accounted for US$ 30,973.00 Mn in 2018 and is anticipated to grow at a CAGR of 7.1%.
Growth Drivers and Challenges:
The market's growth is attributed to key driving factors such as the increasing prevalence of chronic diseases such as diabetes, cardiovascular diseases, obesity, and stroke, the increasing geriatric population, and growing incidents of road accidents.
According to the Centers for Disease Control and Prevention (CDC) report 2018, approximately 9% of the population had diabetes, a leading cause of kidney failure and lower-limb amputations in the U.S. Also, the data suggest that nearly 1.5 million Americans are diagnosed with diabetes every year in the U.S. Cardiovascular diseases (CVD) account for 45.0% of all deaths in Europe and 37.0% of all deaths in the E.U. CVD is the primary reason for death in men and women in all countries. Therefore, a rise in the incidences of CVDs is likely to increase the demand for cardiovascular diagnostic devices, propelling the growth of the durable medical equipment market during the forecast period. Diabetes is becoming a life-threatening disease with no functional cure. It is primarily caused by the body’s inability to produce or utilize insulin. Diabetes is among the most common global health casualties of the 21st century. The incidence rate has increased significantly, leading to life-changing complications. Hence, a rise in the prevalence of the mentioned chronic diseases is anticipated to drive market growth during the forecast period.
Chronic diseases are more prevalent in the geriatric population. They are prone to heart disorders, brain disorders, respiratory problems, and others due to weak immunity and significant other health problems. The general aging factors lead to heart and blood vessels stiffening, which causes heart disorders. As the age grows, the systolic blood pressure also rises, leading to incidences of cardiovascular diseases. Thus, the people aged 75 years and above, high blood pressure is the common risk factor for heart conditions. Coronary artery disease and heart failure are the following caused conditions. The role of durable medical equipment in home care settings and long-duration treatments is boosting the demand in the market.
Furthermore, a significant increase in road accidents has increased the demand and supply of durable medical equipment during the forecast period. As per the estimates by the CDC, road traffic injuries are the eighth driving cause of death worldwide and are estimated to be the seventh driving cause of death by 2030. Injuries caused due to road accidents lead to deformities, amputations of limbs, fractures of bone, and severe pain in the different parts of the body. Other conditions caused due to injuries include spinal cord paralysis, head-brain injuries, facial disfigurement, and wrist and arm injuries. Personal mobility devices such as wheelchairs, walkers, canes, and crutches are advised for individuals recovering from these road accidents.
However, the stigma associated with canes and crutches is restraining the growth of the durable medical equipment market.
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Durable Medical Equipment Market: Strategic Insights
Market Size Value in US$ 170,885.52 million in 2018 Market Size Value by US$ 291,529.57 million by 2027 Growth rate CAGR of 6.5% from 2019 to 2027. Forecast Period 2019-2027 Base Year 2019
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Durable Medical Equipment Market: Strategic Insights
| Market Size Value in | US$ 170,885.52 million in 2018 |
| Market Size Value by | US$ 291,529.57 million by 2027 |
| Growth rate | CAGR of 6.5% from 2019 to 2027. |
| Forecast Period | 2019-2027 |
| Base Year | 2019 |
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Report Segmentation and Scope:
The “Global Durable Medical Equipment Market” is segmented based on device type, end-user, and geography. Based on device type, the durable medical equipment market is differentiated into personal mobility devices and monitoring & therapeutic devices. End-users of durable medical equipment are hospitals & clinics, ambulatory care centers, and home healthcare. The market based on geography is segmented into North America (US, Canada, and Mexico), Europe (Germany, France, Italy, U.K., Spain, and Rest of Europe), Asia Pacific (Australia, China, Japan, India, South Korea, and Rest of Asia Pacific), Middle East & Africa (South Africa, Saudi Arabia, UAE, and Rest of Middle East & Africa), and South & Central America (Brazil, Argentina, and Rest of South & Central America.)
The report analyzes factors affecting the market from both the demand and supply side. Further, it evaluates market dynamics during the forecast period, i.e., drivers, restraints, opportunities, and future trends in the global durable medical equipment market. The report also provides an exhaustive PEST analysis for all five regions: North America, Europe, APAC, MEA, and South & Central America, after evaluating political, economic, social, and technological factors affecting the market in these regions.
- Sample PDF showcases the content structure and the nature of the information with qualitative and quantitative analysis.
Segmental Analysis:
- Sample PDF showcases the content structure and the nature of the information with qualitative and quantitative analysis.
Based on the device type, the Global Durable Medical Equipment Market is bifurcated into personal mobility devices and monitoring & therapeutic devices. The monitoring & therapeutic devices segment led the market in 2018 and is expected to retain its dominance during the forecast period from 2019 to 2027. In the devices type segment, the personal mobility device market is growing fastest, with a CAGR of 10.6%.
A personal mobility device is an assistive device that helps transport an individual. These devices are used by individuals who have limited or restricted mobility. These devices are available in variants and can be operated manually and powered by a battery. Per the report's scope on the durable medical equipment market, personal mobility devices include wheelchairs, scooters, walkers & rollators, canes & crutches, and other personal mobility devices. Similarly, monitoring and therapeutic devices include blood glucose monitoring devices, infusion pumps market, nebulizers, oxygen equipment, continuous positive airway pressure (CPAP), and cardiovascular devices. Monitoring devices analyzes a patient’s physiological parameters such as blood pressure, heart rate, blood sugar, pulse rate, blood oxygen levels, and vital signs. These devices play a significant role as they help reduce patient hospitalization time and hospital visits.
Based on end-users, the durable medical equipment market was segmented into hospitals & clinics, ambulatory care centers, and home healthcare. The hospitals & clinics segment held the largest share of the market in 2018. However, the home healthcare segment is expected to grow at the fastest rate of 7.1% in the coming years owing to a rising preference for home care settings for managing various medical conditions since it reduces the time required for regular checkups and restricts the cost associated with hospital visits.
In addition, the market is also segmented based on segments offered by the leading participants in the industry to understand widely used market-specific terminologies. For instance, personal mobility devices include wheelchairs, scooters, walkers & rollators, canes & crutches, and other personal mobility devices. Similarly Monitoring & Therapeutic Devices segment includes blood glucose monitors, vital signs monitoring devices, infusion pumps, nebulizers, Oxygen Equipment, Continuous Positive Airway Pressure (CPAP), and cardiovascular devices.
Global Durable Medical Equipment Market by Device Type – 2018 and 2027.
- Sample PDF showcases the content structure and the nature of the information with qualitative and quantitative analysis.
Regional Analysis:
- Sample PDF showcases the content structure and the nature of the information with qualitative and quantitative analysis.
The report provides a detailed overview of the global durable medical equipment market, including qualitative and quantitative information. It provides an overview and forecast of the global durable medical equipment market analysis based on five major regions: North America, Europe, Asia-Pacific (APAC), Middle East and Africa (MEA), and South & Central America. The medical beds market by each region is later sub-segmented by respective countries and segments. The report covers the durable medical equipment market analysis and forecast of 18 countries globally and the current trend and opportunities prevailing in the region.
The Asia Pacific durable medical equipment market is estimated to be the fastest-growing region, with a CAGR of 7.1% during the forecast period. The region consists of the countries such as China, India, Japan, Australia, South Korea, and the Rest of Asia Pacific. China holds the largest market share in this segment. China is regarded as an aging society, and the demand for related medical devices is expected to increase. By 2030, over 230 million people in China will be 60 or over. The growth of the market is categorized by an increasing number of market players involved in research and development activities. For instance, in January 2018, the global first clinical case of the MitralStitch mitral valve repair system, developed by Hangzhou DeJin Medtech Co., Ltd. (an affiliate company of DiNovA Medtech) was completed at Yunnan Fuwai Hospital, China.
North America is expected to grow at a CAGR of 6.7% over the forecast period. The U.S. is the largest North American durable medical equipment market. All the countries in the region have witnessed constant demand for the durable medical equipment market in recent years. The growth of the durable medical equipment market in North America can be attributed to the rising prevalence of chronic disorders, the increasing geriatric population, and the rise in awareness programs. As per Canadian Lung Association, 26% of Canadian adults 18 years and above are at a higher risk of sleep apnea. The condition is among the underdiagnosed respiratory disease prevalent in Canada. Additionally, Continued Positive Airway Pressure (CPAP) therapy is the most common therapy for patients with sleep apnea. Therefore, there is an increase in CPAP therapy equipment in the country.
Industry Developments and Future Opportunities
Various initiatives taken by key players operating in the global durable medical equipment market are listed below:
- In November 2022, Cardinal Health launched Velocare, a supply chain network that will provide hospital-level critical products and services for home care.
- In January 2022, Falcon Mobility Pte. Ltd. launched Ultra-Lite 2, it's newest electric wheelchair that is a second-generation, lightweight foldable wheelchair and is one of the world’s most portable motorized wheelchairs
- In February 2021, Hillrom acquired contact-free continuous monitoring technology from EarlySense.
- In October 2019, ResMed collaborated with Cerner to improve out-of-hospital care transitions and chronic disease management.
- In September 2019, Medtronic launched Envision Pro Continuous Glucose Monitoring (CGM) system — a fully disposable, zero calibration professional CGM system.
- In August 2019, Hillrom acquired Breathe Technologies, Inc., developer and manufacturer of a patented wearable, non-invasive ventilation technology that supports improved patient mobility.
- In May 2019, Sunrise Medical launched the QUICKIE Q500 M SEDEO PRO. The product is a high-performance power wheelchair available in a proven and compact design. The launch has helped the company hold a better position in the market.
Competitive Landscape and Key Companies:
The report covers key Global Durable Medical Equipment Market developments as organic and inorganic growth strategies.
The industry players operating in the durable medical equipment market include Invacare Corporation, Medtronic, BD, Hillrom Services Inc, Medical Depot, Inc, GF HEALTH PRODUCTS, INC., Sunrise Medical (U.S.) LLC, Medline Industries, Inc., Koninklijke Philips N.V, and ResMed. The players operating in the durable medical equipment market have focused on various organic and inorganic growth strategies in previous years. Some inorganic growth strategies in the durable medical equipment market include partnerships, collaborations, and acquisitions. Organic strategies witnessed in the market include product launches as well as approvals.
Report Coverage
Revenue forecast, Company Analysis, Industry landscape, Growth factors, and Trends
Segment Covered
Device Type and End User
Regional Scope
North America, Europe, Asia Pacific, Middle East & Africa, South & Central America
Country Scope
US, Canada, Mexico, UK, Germany, Spain, Italy, France, India, China, Japan, South Korea, Australia, UAE, Saudi Arabia, South Africa, Brazil, Argentina
The List of Companies
- Invacare Corporation
- Medtronic
- BD
- Hillrom Services Inc
- Medical Depot, Inc
- GF HEALTH PRODUCTS, INC.
- Sunrise Medical (US) LLC
- Medline Industries, Inc.
- Koninklijke Philips N.V
- ResMed
The Insight Partners performs research in 4 major stages: Data Collection & Secondary Research, Primary Research, Data Analysis and Data Triangulation & Final Review.
- Data Collection and Secondary Research:
As a market research and consulting firm operating from a decade, we have published many reports and advised several clients across the globe. First step for any study will start with an assessment of currently available data and insights from existing reports. Further, historical and current market information is collected from Investor Presentations, Annual Reports, SEC Filings, etc., and other information related to company’s performance and market positioning are gathered from Paid Databases (Factiva, Hoovers, and Reuters) and various other publications available in public domain.
Several associations trade associates, technical forums, institutes, societies and organizations are accessed to gain technical as well as market related insights through their publications such as research papers, blogs and press releases related to the studies are referred to get cues about the market. Further, white papers, journals, magazines, and other news articles published in the last 3 years are scrutinized and analyzed to understand the current market trends.
- Primary Research:
The primarily interview analysis comprise of data obtained from industry participants interview and answers to survey questions gathered by in-house primary team.
For primary research, interviews are conducted with industry experts/CEOs/Marketing Managers/Sales Managers/VPs/Subject Matter Experts from both demand and supply side to get a 360-degree view of the market. The primary team conducts several interviews based on the complexity of the markets to understand the various market trends and dynamics which makes research more credible and precise.
A typical research interview fulfils the following functions:
- Provides first-hand information on the market size, market trends, growth trends, competitive landscape, and outlook
- Validates and strengthens in-house secondary research findings
- Develops the analysis team’s expertise and market understanding
Primary research involves email interactions and telephone interviews for each market, category, segment, and sub-segment across geographies. The participants who typically take part in such a process include, but are not limited to:
- Industry participants: VPs, business development managers, market intelligence managers and national sales managers
- Outside experts: Valuation experts, research analysts and key opinion leaders specializing in the electronics and semiconductor industry.
Below is the breakup of our primary respondents by company, designation, and region:
Once we receive the confirmation from primary research sources or primary respondents, we finalize the base year market estimation and forecast the data as per the macroeconomic and microeconomic factors assessed during data collection.
- Data Analysis:
Once data is validated through both secondary as well as primary respondents, we finalize the market estimations by hypothesis formulation and factor analysis at regional and country level.
- 3.1 Macro-Economic Factor Analysis:
We analyse macroeconomic indicators such the gross domestic product (GDP), increase in the demand for goods and services across industries, technological advancement, regional economic growth, governmental policies, the influence of COVID-19, PEST analysis, and other aspects. This analysis aids in setting benchmarks for various nations/regions and approximating market splits. Additionally, the general trend of the aforementioned components aid in determining the market's development possibilities.
- 3.2 Country Level Data:
Various factors that are especially aligned to the country are taken into account to determine the market size for a certain area and country, including the presence of vendors, such as headquarters and offices, the country's GDP, demand patterns, and industry growth. To comprehend the market dynamics for the nation, a number of growth variables, inhibitors, application areas, and current market trends are researched. The aforementioned elements aid in determining the country's overall market's growth potential.
- 3.3 Company Profile:
The “Table of Contents” is formulated by listing and analyzing more than 25 - 30 companies operating in the market ecosystem across geographies. However, we profile only 10 companies as a standard practice in our syndicate reports. These 10 companies comprise leading, emerging, and regional players. Nonetheless, our analysis is not restricted to the 10 listed companies, we also analyze other companies present in the market to develop a holistic view and understand the prevailing trends. The “Company Profiles” section in the report covers key facts, business description, products & services, financial information, SWOT analysis, and key developments. The financial information presented is extracted from the annual reports and official documents of the publicly listed companies. Upon collecting the information for the sections of respective companies, we verify them via various primary sources and then compile the data in respective company profiles. The company level information helps us in deriving the base number as well as in forecasting the market size.
- 3.4 Developing Base Number:
Aggregation of sales statistics (2020-2022) and macro-economic factor, and other secondary and primary research insights are utilized to arrive at base number and related market shares for 2022. The data gaps are identified in this step and relevant market data is analyzed, collected from paid primary interviews or databases. On finalizing the base year market size, forecasts are developed on the basis of macro-economic, industry and market growth factors and company level analysis.
- Data Triangulation and Final Review:
The market findings and base year market size calculations are validated from supply as well as demand side. Demand side validations are based on macro-economic factor analysis and benchmarks for respective regions and countries. In case of supply side validations, revenues of major companies are estimated (in case not available) based on industry benchmark, approximate number of employees, product portfolio, and primary interviews revenues are gathered. Further revenue from target product/service segment is assessed to avoid overshooting of market statistics. In case of heavy deviations between supply and demand side values, all thes steps are repeated to achieve synchronization.
We follow an iterative model, wherein we share our research findings with Subject Matter Experts (SME’s) and Key Opinion Leaders (KOLs) until consensus view of the market is not formulated – this model negates any drastic deviation in the opinions of experts. Only validated and universally acceptable research findings are quoted in our reports.
We have important check points that we use to validate our research findings – which we call – data triangulation, where we validate the information, we generate from secondary sources with primary interviews and then we re-validate with our internal data bases and Subject matter experts. This comprehensive model enables us to deliver high quality, reliable data in shortest possible time.
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