Durable Medical Equipment Market Forecast and Growth 2031

Durable Medical Equipment Market Size and Forecast (2021 - 2031), Global and Regional Share, Trend, and Growth Opportunity Analysis Report Coverage: By Device Type (Personal Mobility Devices and Monitoring & Therapeutic Devices), End User (Hospitals & Clinics, Ambulatory Care Centers, and Home Healthcare), and Geography

  • Report Code : TIPRE00005163
  • Category : Medical Device
  • No. of Pages : 150
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Durable Medical Equipment Market Size - Growth, Share | 2031

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The Durable Medical Equipment Market size was estimated to be US$ 203901.18 million in 2021 and US$ XX million in 2023 and is expected to reach US$ 339107.30 million by 2031; it is estimated to record a CAGR of 5.3% in  till 2031. 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. Such factors are likely to remain key Durable Medical Equipment Market trends.

Durable Medical Equipment Market Analysis

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.

Rising cases of chronic diseases in both developed and emerging economies are driving the growth of durable medical equipment market.   

Durable Medical Equipment Market Overview

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.

Global durable medical equipment market is segmented by region into North America, Europe, Asia Pacific, the Middle East & Africa, and South & Central America. In North America, the US is the largest market for durable medical equipment. 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.

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Durable Medical Equipment Market: Strategic Insights

Durable Medical Equipment Market

  • CAGR (2023 - 2031)
    5.3%
  • Market Size 2021
    US$ 203901.18 Million
  • Market Size 2031
    US$ 339107.30 Million

Market Dynamics

GROWTH DRIVERS
  • Rising cases of chronic diseases in both developed and emerging economies are driving the growth of durable medical equipment market.
FUTURE TRENDS
  • 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. Such a trend is likely to drive the overall durable medical equipment market during the forecast period.
OPPORTUNITIES
  • Durable medical equipment(DME) can help maintain safety and a sense of independence, especially for the elderly or the geriatric population. They mainly provide support post-surgery at home or any healthcare settings. Four of the most common types of DME are shower chairs, bed rails, walkers and Hoyer lifts. These pieces can be expensive to purchase, and sometimes, renting them is a better use of resources.
  • Such advancements in recent years is likely to generate attractive growth opportunity for the durable medical equipment market.

Key Players

  • 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
  • ResMed

Regional Overview

  • North America
  • Europe
  • Asia-Pacific
  • South and Central America
  • Middle East and Africa

Market Segmentation

Device Type
  • Personal Mobility Devices
  • Monitoring & Therapeutic Devices
End User
  • Hospitals & Clinics
  • Ambulatory Care Centers
  • Home Healthcare
  • Sample PDF showcases the content structure and the nature of the information with qualitative and quantitative analysis.

Durable Medical Equipment Market Drivers and Opportunities

Increasing number of road accidents to Favor the Overall Market

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. Such a trend is likely to drive the overall durable medical equipment market during the forecast period.    

Home Healthcare Market is Expected to Propel the Market Demand – An Opportunity of Durable Medical Equipment Market

Durable medical equipment(DME) can help maintain safety and a sense of independence, especially for the elderly or the geriatric population. They mainly provide support post-surgery at home or any healthcare settings. Four of the most common types of DME are shower chairs, bed rails, walkers and Hoyer lifts. These pieces can be expensive to purchase, and sometimes, renting them is a better use of resources.

Such advancements in recent years is likely  to generate attractive growth opportunity for the durable medical equipment market.   

Durable Medical Equipment Market Report Segmentation Analysis

Key segments that contributed to the derivation of the Durable Medical Equipment Market analysis are device type and end user.

  • 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 a larger market share in 2023 and is expected to retain its dominance during the forecast period from 2024 to 2031. In the devices type segment, the personal mobility device market is growing at a higher CAGR during the forecast period. 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 2023. However, the home healthcare segment is expected to grow at the fastest rate 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.

Durable Medical Equipment Market Share Analysis by Geography

The geographic scope of the Durable Medical Equipment Market report is mainly segmented into five regions: North America, Asia Pacific, Europe, the Middle East & Africa, and South America/South & Central America.

The Asia Pacific durable medical equipment market is expected to be the fastest-growing regionduring the forecast period. The region consists of the countries such as China, India, Japan, Australia, South Korea, and 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.

Durable Medical Equipment Market Report Scope

Report Attribute Details
Market size in 2021 US$ 203901.18 Million
Market Size by 2031 US$ 339107.30 Million
Global CAGR (2023 - 2031) 5.3%
Historical Data 2021-2022
Forecast period 2024-2031
Segments Covered By Device Type
  • Personal Mobility Devices
  • Monitoring & Therapeutic Devices
By End User
  • Hospitals & Clinics
  • Ambulatory Care Centers
  • Home Healthcare
Regions and Countries Covered North America
  • US
  • Canada
  • Mexico
Europe
  • UK
  • Germany
  • France
  • Russia
  • Italy
  • Rest of Europe
Asia-Pacific
  • China
  • India
  • Japan
  • Australia
  • Rest of Asia-Pacific
South and Central America
  • Brazil
  • Argentina
  • Rest of South and Central America
Middle East and Africa
  • South Africa
  • Saudi Arabia
  • UAE
  • Rest of Middle East and Africa
Market leaders and key company profiles
  • 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
  • ResMed
    • Sample PDF showcases the content structure and the nature of the information with qualitative and quantitative analysis.

    Durable Medical Equipment Market News and Recent Developments

    The Durable Medical Equipment Market is evaluated by gathering qualitative and quantitative data post primary and secondary research, which includes important corporate publications, association data, and databases. The following is a list of developments in the market for durable medical equipment and strategies:

    • In November 2022, Cardinal Health launched Velocare, a supply chain network that will provide hospital-level critical products and services for home care (Source: Cardinal Health, Press Release, 2022)   

    Durable Medical Equipment Market Report Coverage and Deliverables

    The “Durable Medical Equipment Market Size and Forecast (2021–2031)” report provides a detailed analysis of the market covering below areas:

    • Market size and forecast at global, regional, and country levels for all the key market segments covered under the scope
    • Market dynamics such as drivers, restraints, and key opportunities
    • Key future trends
    • Detailed PEST/Porter’s Five Forces and SWOT analysis
    • Global and regional market analysis covering key market trends, major players, regulations, and recent market developments
    • Industry landscape and competition analysis covering market concentration, heat map analysis, prominent players, and recent developments
    • Detailed company profiles
    Report Coverage
    Report Coverage

    Revenue forecast, Company Analysis, Industry landscape, Growth factors, and Trends

    Segment Covered
    Segment Covered

    Device Type and End User

    Regional Scope
    Regional Scope

    North America, Europe, Asia Pacific, Middle East & Africa, South & Central America

    Country Scope
    Country Scope

    US, Canada, Mexico, UK, Germany, Spain, Italy, France, India, China, Japan, South Korea, Australia, UAE, Saudi Arabia, South Africa, Brazil, Argentina

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