Durable Medical Equipment Market Size, Share, Growth Analysis, By Product(Personal mobility devices, bathroom safety devices and medical furniture, monitoring and therapeutic devices, and others), By End-use(Hospitals, home healthcare, nursing homes, and others), By Region(North America, Europe, Asia-Pacific, Latin America), By Region - Industry Forecast 2024-2031


Report ID: SQMIG35A2180 | Region: Global | Published Date: April, 2024
Pages: 219 |Tables: 94 |Figures: 76

Durable Medical Equipment Market Insights

Global Durable Medical Equipment Market size was valued at USD 207.99 billion in 2022 and is poised to grow from USD 220.26 billion in 2023 to USD 348.42 billion by 2031, growing at a CAGR of 5.90% during the forecast period (2024-2031).

Durable medical equipment (DME) is a type of medical device that provides solutions to help patients complete their daily activities more efficiently. Suppliers of such equipment may assist patients in understanding the operation of  equipment. Based on certain boundaries, most durable medical equipment is supported by healthcare insurance. Power scooters, oxygen equipment, walkers, wheelchairs, hospital beds, catheters, support braces, and replacement CPAP masks come under this category.

During the forecast period, the rising prevalence of cancer, cardiac disorders, neurological conditions, and gynaecological complications is expected to drive market growth. Better DME coverage and reimbursement policies are also expected to contribute to DME market growth. Furthermore, the growing number of elderly care centres as a result of the world's ageing population is expected to fuel the DME market dramatically. However, stringent regulatory guidelines in developed economies, as well as a shortage of skilled professionals to operate this equipment, are considered to be impeding industry growth during the forecast period. However, the high cost of  medical equipment may severely hamper the expected growth of the global  market.

US Durable Medical Equipment Market is poised to grow at a sustainable CAGR for the next forecast year.

Market Snapshot - 2024-2031

Global Market Size

USD 207.99 billion

Largest Segment

Hospitals

Fastest Growth

Nursing Homes

Growth Rate

5.90% CAGR

Global Durable Medical Equipment Market, 2022-2030 ($ Bn)
Country Share for North America Region- 2022 (%)

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Durable Medical Equipment Market Segmental Analysis

The global durable medical equipment market is segmented based on the product, end-use, and region. Based on product, the market is segmented into personal mobility devices, bathroom safety devices and medical furniture, monitoring and therapeutic devices, and others. In terms of end-use, the market is segmented into hospitals, home healthcare, nursing homes, and others. Based on region, the market is categorized into North America, Europe, Asia-Pacific, Latin America, and MEA.

Durable Medical Equipment Market Analysis by Product

Based on product, the market is segmented into personal mobility devices, bathroom safety devices and medical furniture, monitoring and therapeutic devices, and others. The monitoring and therapeutic devices segment held a market share of 89.4% in 2022, and is likely to grow during the forecast period due to the growing number of lifestyle-related diseases that necessitate health records analysis, as well as rising demand for wireless monitoring devices. The market is expected to grow as the number of health and fitness monitoring applications and devices such as wrist watches, fitness bands, and smart glasses that can monitor heart rate, oxygen, and temperature and provide critical health analysis to avoid uncertainty grows globally.

Owing to the rapid increase in the world's geriatric population, personal mobility devices such as wheelchairs, scooters, crutches, canes, and others are expected to see significant growth during the forecast period. The growing elderly population will increase demand for mobility products, contributing significantly to the expansion of the durable medical equipment market in the coming years.

Due to the rising number of obese people and increasing preference for bariatric surgeries worldwide, the durable medical equipment market grew at the fastest rate of 6.9%.

Durable Medical Equipment Market Analysis by End-use

Based on end-use, the market is segmented into hospitals, home healthcare, nursing homes, and others. Hospitals are expected to lead the durable medical equipment market during the analysis period due to a high number of patients as chronic diseases spread globally and rising financing and service capabilities of these healthcare settings.
Nursing homes are thought to deliver the most comprehensive care available in a non-hospital setting. Nursing homes provide custodial care, which includes nursing services such as bathing, dressing, and meal preparation, in addition to the basic line of treatment.
Home healthcare is predicted to expand at the fastest pace during the forecast period due to the patient-friendly approach to receiving remote healthcare services.

Global Durable Medical Equipment Market By End Use, 2022 (%)

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Durable Medical Equipment Market Regional Insights

The market in North America held the largest market share of 34.9% in 2022, and is likely to maintain its dominant position during the anticipated period. This is accountable to the rapid adoption of advanced equipment in the United States, the region now accounts for a larger share of the market. The region's growth is expected to be boosted mostly by the presence of leading manufacturers and the rapid adoption of advanced products. In order to secure a large share of the market, the region is constantly developing cost-effective and advanced devices for patients.

Owing to the continuous increase in chronic diseases such as diabetics, hypertension, high blood pressures, and others, the Asia-Pacific  is expected to contribute positively to the market share of durable medical equipment, particularly in developing countries such as China, India, and Japan. Furthermore, the rise in customer standard of living, and the willingness to access medical services at home has encouraged the expansion of the durable medical equipment market. According to the Asian Development Bank, the number of elderly people in the Asia Pacific region will reach 1.3 billion by 2050, implying that one in every four people will be over the age of 60. The elderly population's limited mobility has necessitated the implementation of personal mobility devices, which has also provided growth impetus to the region's durable medical equipment market.

Global Durable Medical Equipment Market By Geography, 2022-2030
  • Largest
  • Fastest

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Durable Medical Equipment Market Dynamics

Durable Medical Equipment Market Driver

Increase in Prevalence of Cardiovascular Diseases

  • The major reason anticipated to propel the expansion of  durable medical equipment market size is rising need for durable medical equipment to be used at home. 
  • Furthermore, the growing prevalence of cardiovascular disease around the world, which necessitates constant body monitoring by patients, is expected to fuel the growth of the durable medical equipment market size.

Durable Medical Equipment Market Restraint 

Lack of Skilled Professionals

  • Stringent regulatory guidelines in developed economies, as well as a shortage of skilled professionals to operate this equipment, are considered to be impeding industry growth during the forecast period.
  • Lack of standardization and the presence of counterfeit products are projected to limit the market expansion

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Durable Medical Equipment Market Competitive Landscape

The global durable medical equipment market is highly competitive in nature. To maintain a competitive edge, the major industry participants are implementing various growth strategies. Innovations, mergers, and acquisitions, collaborations and partnerships are adopted by some players to thrive in the competitive market. In order to provide industries with the most effective and economical solutions, the major market players are also investing heavily for R&D.

Durable Medical Equipment Market Top Player's Company Profiles  

  • Invacare Corporation
  • Drive Medical
  • Hill-Rom Holdings, Inc.
  • Stryker Corporation
  • ArjoHuntleigh
  • Medline Industries, Inc.
  • Permobil AB
  • Sunrise Medical LLC
  • GF Health Products, Inc.
  • Pride Mobility Products Corporation
  • Medtronic plc
  • Otto Bock Healthcare
  • DJO Global, Inc.
  • ResMed Inc.
  • Becton, Dickinson and Company (BD)
  • 3M Health Care
  • Smith & Nephew plc
  • Baxter International Inc.
  • Teleflex Incorporated
  • Zimmer Biomet Holdings, Inc.

Durable Medical Equipment Market Recent Developments

  • In March 2022, DexCom Inc. has received the CE Mark (Conformité Européenne) for the Dexcom G7 Continuous Glucose Monitoring (CGM) System, which is intended for individuals who are diabetic aged two years and older, including pregnant women, in Europe.
  • In January 2022, ASPIRE introduced the ASPIRE SOCIALITE WHEELCHAIR in Australia. The Aspire Socialite is an ultra-lightweight transport chair with a safe working load capacity of 115kg that can accommodate a wide range of users.
  • In December 2021, Hillrom was successfully acquired by Baxter. The acquisition is likely to improve care outcomes by increasing efficiencies across care settings.

Durable Medical Equipment Key Market Trends

  • The vital signs monitor is a tool that assists medical and nursing staff in gathering information about the patient's physiologic condition. Nurses are usually in charge of monitoring these vital signs, which include blood pressure (BP), heart rate (HR), respiratory rate (RR), oxygen saturation (SpO 2), and core temperature. Consistent vital sign monitoring is essential for detecting clinical deterioration in hospital patients. It is primarily monitored by nurses, who measure and document all patients' primary vital signs 2-3 times a day to assess their condition.

Durable Medical Equipment Market SkyQuest Analysis

SkyQuest’s ABIRAW (Advanced Business Intelligence, Research & Analysis Wing) is our Business Information Services team that Collects, Collates, Correlates, and Analyses the Data collected utilizing Primary Exploratory Research backed by the robust Secondary Desk research.

According to our global durable medical equipment market analysis, Asia Pacific region is growing at the fastest CAGR due to the increasing use of advanced medical equipment in healthcare facilities such as hospitals, home care settings, and others is increasing demand for surgical and outpatient services, as is the growing availability of improved healthcare reimbursement plans and policies, as well as favorable government support on infrastructure advancement, resulting in driving the global durable medical equipment market growth over the forecast timeline. However, reimbursement issues related to healthcare policies in many developing economies around the world may impede the global durable medical equipment market's growth during the forecast period.

Report Metric Details
Market size value in 2023 USD 207.99 billion
Market size value in 2031 USD 348.42 billion
Growth Rate 5.90%
Forecast period 2024-2031
Forecast Unit (Value) USD Billion
Segments covered
  • Product
    • Personal mobility devices, bathroom safety devices and medical furniture, monitoring and therapeutic devices, and others
  • End-use
    • Hospitals, home healthcare, nursing homes, and others
  • Region
    • North America, Europe, Asia-Pacific, Latin America, and MEA
Regions covered North America (US, Canada), Europe (Germany, France, United Kingdom, Italy, Spain, Rest of Europe), Asia Pacific (China, India, Japan, Rest of Asia-Pacific), Latin America (Brazil, Rest of Latin America), Middle East & Africa (South Africa, GCC Countries, Rest of MEA)
Companies covered
  • Invacare Corporation
  • Drive Medical
  • Hill-Rom Holdings, Inc.
  • Stryker Corporation
  • ArjoHuntleigh
  • Medline Industries, Inc.
  • Permobil AB
  • Sunrise Medical LLC
  • GF Health Products, Inc.
  • Pride Mobility Products Corporation
  • Medtronic plc
  • Otto Bock Healthcare
  • DJO Global, Inc.
  • ResMed Inc.
  • Becton, Dickinson and Company (BD)
  • 3M Health Care
  • Smith & Nephew plc
  • Baxter International Inc.
  • Teleflex Incorporated
  • Zimmer Biomet Holdings, Inc.
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Table Of Content

Executive Summary

Market overview

  • Exhibit: Executive Summary – Chart on Market Overview
  • Exhibit: Executive Summary – Data Table on Market Overview
  • Exhibit: Executive Summary – Chart on Durable Medical Equipment Market Characteristics
  • Exhibit: Executive Summary – Chart on Market by Geography
  • Exhibit: Executive Summary – Chart on Market Segmentation
  • Exhibit: Executive Summary – Chart on Incremental Growth
  • Exhibit: Executive Summary – Data Table on Incremental Growth
  • Exhibit: Executive Summary – Chart on Vendor Market Positioning

Parent Market Analysis

Market overview

Market size

  • Market Dynamics
    • Exhibit: Impact analysis of DROC, 2021
      • Drivers
      • Opportunities
      • Restraints
      • Challenges
  • SWOT Analysis

KEY MARKET INSIGHTS

  • Technology Analysis
    • (Exhibit: Data Table: Name of technology and details)
  • Pricing Analysis
    • (Exhibit: Data Table: Name of technology and pricing details)
  • Supply Chain Analysis
    • (Exhibit: Detailed Supply Chain Presentation)
  • Value Chain Analysis
    • (Exhibit: Detailed Value Chain Presentation)
  • Ecosystem Of the Market
    • Exhibit: Parent Market Ecosystem Market Analysis
    • Exhibit: Market Characteristics of Parent Market
  • IP Analysis
    • (Exhibit: Data Table: Name of product/technology, patents filed, inventor/company name, acquiring firm)
  • Trade Analysis
    • (Exhibit: Data Table: Import and Export data details)
  • Startup Analysis
    • (Exhibit: Data Table: Emerging startups details)
  • Raw Material Analysis
    • (Exhibit: Data Table: Mapping of key raw materials)
  • Innovation Matrix
    • (Exhibit: Positioning Matrix: Mapping of new and existing technologies)
  • Pipeline product Analysis
    • (Exhibit: Data Table: Name of companies and pipeline products, regional mapping)
  • Macroeconomic Indicators

COVID IMPACT

  • Introduction
  • Impact On Economy—scenario Assessment
    • Exhibit: Data on GDP - Year-over-year growth 2016-2022 (%)
  • Revised Market Size
    • Exhibit: Data Table on Durable Medical Equipment Market size and forecast 2021-2027 ($ million)
  • Impact Of COVID On Key Segments
    • Exhibit: Data Table on Segment Market size and forecast 2021-2027 ($ million)
  • COVID Strategies By Company
    • Exhibit: Analysis on key strategies adopted by companies

MARKET DYNAMICS & OUTLOOK

  • Market Dynamics
    • Exhibit: Impact analysis of DROC, 2021
      • Drivers
      • Opportunities
      • Restraints
      • Challenges
  • Regulatory Landscape
    • Exhibit: Data Table on regulation from different region
  • SWOT Analysis
  • Porters Analysis
    • Competitive rivalry
      • Exhibit: Competitive rivalry Impact of key factors, 2021
    • Threat of substitute products
      • Exhibit: Threat of Substitute Products Impact of key factors, 2021
    • Bargaining power of buyers
      • Exhibit: buyers bargaining power Impact of key factors, 2021
    • Threat of new entrants
      • Exhibit: Threat of new entrants Impact of key factors, 2021
    • Bargaining power of suppliers
      • Exhibit: Threat of suppliers bargaining power Impact of key factors, 2021
  • Skyquest special insights on future disruptions
    • Political Impact
    • Economic impact
    • Social Impact
    • Technical Impact
    • Environmental Impact
    • Legal Impact

Market Size by Region

  • Chart on Market share by geography 2021-2027 (%)
  • Data Table on Market share by geography 2021-2027(%)
  • North America
    • Chart on Market share by country 2021-2027 (%)
    • Data Table on Market share by country 2021-2027(%)
    • USA
      • Exhibit: Chart on Market share 2021-2027 (%)
      • Exhibit: Market size and forecast 2021-2027 ($ million)
    • Canada
      • Exhibit: Chart on Market share 2021-2027 (%)
      • Exhibit: Market size and forecast 2021-2027 ($ million)
  • Europe
    • Chart on Market share by country 2021-2027 (%)
    • Data Table on Market share by country 2021-2027(%)
    • Germany
      • Exhibit: Chart on Market share 2021-2027 (%)
      • Exhibit: Market size and forecast 2021-2027 ($ million)
    • Spain
      • Exhibit: Chart on Market share 2021-2027 (%)
      • Exhibit: Market size and forecast 2021-2027 ($ million)
    • France
      • Exhibit: Chart on Market share 2021-2027 (%)
      • Exhibit: Market size and forecast 2021-2027 ($ million)
    • UK
      • Exhibit: Chart on Market share 2021-2027 (%)
      • Exhibit: Market size and forecast 2021-2027 ($ million)
    • Rest of Europe
      • Exhibit: Chart on Market share 2021-2027 (%)
      • Exhibit: Market size and forecast 2021-2027 ($ million)
  • Asia Pacific
    • Chart on Market share by country 2021-2027 (%)
    • Data Table on Market share by country 2021-2027(%)
    • China
      • Exhibit: Chart on Market share 2021-2027 (%)
      • Exhibit: Market size and forecast 2021-2027 ($ million)
    • India
      • Exhibit: Chart on Market share 2021-2027 (%)
      • Exhibit: Market size and forecast 2021-2027 ($ million)
    • Japan
      • Exhibit: Chart on Market share 2021-2027 (%)
      • Exhibit: Market size and forecast 2021-2027 ($ million)
    • South Korea
      • Exhibit: Chart on Market share 2021-2027 (%)
      • Exhibit: Market size and forecast 2021-2027 ($ million)
    • Rest of Asia Pacific
      • Exhibit: Chart on Market share 2021-2027 (%)
      • Exhibit: Market size and forecast 2021-2027 ($ million)
  • Latin America
    • Chart on Market share by country 2021-2027 (%)
    • Data Table on Market share by country 2021-2027(%)
    • Brazil
      • Exhibit: Chart on Market share 2021-2027 (%)
      • Exhibit: Market size and forecast 2021-2027 ($ million)
    • Rest of South America
      • Exhibit: Chart on Market share 2021-2027 (%)
      • Exhibit: Market size and forecast 2021-2027 ($ million)
  • Middle East & Africa (MEA)
    • Chart on Market share by country 2021-2027 (%)
    • Data Table on Market share by country 2021-2027(%)
    • GCC Countries
      • Exhibit: Chart on Market share 2021-2027 (%)
      • Exhibit: Market size and forecast 2021-2027 ($ million)
    • South Africa
      • Exhibit: Chart on Market share 2021-2027 (%)
      • Exhibit: Market size and forecast 2021-2027 ($ million)
    • Rest of MEA
      • Exhibit: Chart on Market share 2021-2027 (%)
      • Exhibit: Market size and forecast 2021-2027 ($ million)

KEY COMPANY PROFILES

  • Competitive Landscape
    • Total number of companies covered
      • Exhibit: companies covered in the report, 2021
    • Top companies market positioning
      • Exhibit: company positioning matrix, 2021
    • Top companies market Share
      • Exhibit: Pie chart analysis on company market share, 2021(%)

Methodology

For the Durable Medical Equipment Market, our research methodology involved a mixture of primary and secondary data sources. Key steps involved in the research process are listed below:

1. Information Procurement: This stage involved the procurement of Market data or related information via primary and secondary sources. The various secondary sources used included various company websites, annual reports, trade databases, and paid databases such as Hoover's, Bloomberg Business, Factiva, and Avention. Our team did 45 primary interactions Globally which included several stakeholders such as manufacturers, customers, key opinion leaders, etc. Overall, information procurement was one of the most extensive stages in our research process.

2. Information Analysis: This step involved triangulation of data through bottom-up and top-down approaches to estimate and validate the total size and future estimate of the Durable Medical Equipment Market.

3. Report Formulation: The final step entailed the placement of data points in appropriate Market spaces in an attempt to deduce viable conclusions.

4. Validation & Publishing: Validation is the most important step in the process. Validation & re-validation via an intricately designed process helped us finalize data points to be used for final calculations. The final Market estimates and forecasts were then aligned and sent to our panel of industry experts for validation of data. Once the validation was done the report was sent to our Quality Assurance team to ensure adherence to style guides, consistency & design.

Analyst Support

Customization Options

With the given market data, our dedicated team of analysts can offer you the following customization options are available for the Durable Medical Equipment Market:

Product Analysis: Product matrix, which offers a detailed comparison of the product portfolio of companies.

Regional Analysis: Further analysis of the Durable Medical Equipment Market for additional countries.

Competitive Analysis: Detailed analysis and profiling of additional Market players & comparative analysis of competitive products.

Go to Market Strategy: Find the high-growth channels to invest your marketing efforts and increase your customer base.

Innovation Mapping: Identify racial solutions and innovation, connected to deep ecosystems of innovators, start-ups, academics, and strategic partners.

Category Intelligence: Customized intelligence that is relevant to their supply Markets will enable them to make smarter sourcing decisions and improve their category management.

Public Company Transcript Analysis: To improve the investment performance by generating new alpha and making better-informed decisions.

Social Media Listening: To analyze the conversations and trends happening not just around your brand, but around your industry as a whole, and use those insights to make better Marketing decisions.

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FAQs

Durable Medical Equipment Market size was valued at USD 207.99 billion in 2022 and is poised to grow from USD 220.26 billion in 2023 to USD 348.42 billion by 2031, growing at a CAGR of 5.90% during the forecast period (2024-2031).

The durable medical equipment market is highly competitive in nature. To maintain a competitive edge, the major industry participants are implementing various growth strategies. Innovations, mergers, and acquisitions, collaborations and partnerships are adopted by some players to thrive in the competitive market. In order to provide industries with the most effective and economical solutions, the major market players are also investing heavily for R&D. 'Invacare Corporation', 'Drive Medical', 'Hill-Rom Holdings, Inc.', 'Stryker Corporation', 'ArjoHuntleigh', 'Medline Industries, Inc.', 'Permobil AB', 'Sunrise Medical LLC', 'GF Health Products, Inc.', 'Pride Mobility Products Corporation', 'Medtronic plc', 'Otto Bock Healthcare', 'DJO Global, Inc.', 'ResMed Inc.', 'Becton, Dickinson and Company (BD)', '3M Health Care', 'Smith & Nephew plc', 'Baxter International Inc.', 'Teleflex Incorporated', 'Zimmer Biomet Holdings, Inc.'

The major reason anticipated to propel the expansion of  durable medical equipment market size is rising need for durable medical equipment to be used at home. 

The vital signs monitor is a tool that assists medical and nursing staff in gathering information about the patient's physiologic condition. Nurses are usually in charge of monitoring these vital signs, which include blood pressure (BP), heart rate (HR), respiratory rate (RR), oxygen saturation (SpO 2), and core temperature. Consistent vital sign monitoring is essential for detecting clinical deterioration in hospital patients. It is primarily monitored by nurses, who measure and document all patients' primary vital signs 2-3 times a day to assess their condition.

The market in North America held the largest market share of 34.9% in 2022, and is likely to maintain its dominant position during the anticipated period. This is accountable to the rapid adoption of advanced equipment in the United States, the region now accounts for a larger share of the market. The region's growth is expected to be boosted mostly by the presence of leading manufacturers and the rapid adoption of advanced products. In order to secure a large share of the market, the region is constantly developing cost-effective and advanced devices for patients.

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