Durable Medical Equipment Market by Product (Monitoring & Therapeutic Devices [Nebulizers, Suction Pumps, Infusion Pumps, Blood Sugar Monitors, Traction Equipment, and Others], Personality Mobility Devices [Scooters, Door Openers, Wheelchairs, Cranes & Crutches, and Others], and Bathroom Safety Devices & Medical Furniture [Mattress & Bedding Devices and Commodes & Toilets]), End-user (Home Healthcare, Hospitals, Nursing Homes, and Others), and Region (Asia Pacific, North America, Latin America, Europe, and Middle East & Africa) - Global Industry Analysis, Growth, Share, Size, Trends, and Forecast 2023 – 2031
Durable Medical Equipment Market Outlook 2031
The global durable medical equipment market size was USD 221.1 Billion in 2022 and is likely to reach USD 331.3 Billion by 2031, expanding at a CAGR of 5.9% during, 2023–2031. The market growth is attributed to the rising geriatric population and a large number of disabled people.
Increasing geriatric population is expected to fuel the durable medical equipment (DME) market in the coming years. Elderly people have low immunity levels and frequently suffer from chronic diseases. This drives the demand for continuous monitoring of their health condition, which increases the demand for the market. The use of medical equipment that is particularly designed to facilitate daily living for elderly people increases their independence.
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According to the report published by the United Nations Department of Economic and Social Affairs, there were 727 million persons aged 65 years in 2021. This number is projected to be more than double by 2050, reaching more than 1.5 billion individuals. The share of old persons in the global population is expected to increase from 9.3% in 2020 to 16.0% in 2050.
The market report finds that the COVID-19 pandemic hindered the durable medical equipment market, due to the strict lockdown imposed by the government and the disruption of the supply chain. During the pandemic, several companies had shut down, and the manufacturing process of medical equipment also stopped, which affected the market.
However, during the pandemic, the rising demand for medical devices or products such as hospital beds, vital sign monitoring devices, and others fueled the durable medical equipment market.
Impact of Artificial Intelligence on Durable Medical Equipment Market
Artificial intelligence (AI) technologies are expected to boost the durable medical equipment market during the forecast period. AI-based DME helps healthcare professionals effectively & accurately diagnose and treat their patients as well as improve their overall care.
It is used in DME to synthesize data from several sources, automate tasks, and indicate trends. It also processes and analyzes information from wearable sensors and identifies the onset of disease or medical conditions.
AI-based DME also predicts which patients are at an increased risk of complications, disease, or negative outcomes based on their medical records. The Internet of Things (IoT) for medical devices is a system of interrelated, wireless, and connected digital devices that are used by healthcare providers to keep patients informed, manage data, reduce costs, monitor patients, and work effectively & efficiently.
Durable Medical Equipment Market Dynamics
Major Drivers
Increasing number of individuals with disabilities is expected to fuel the durable medical equipment market during the forecast period. DME improves safety for wheelchairs, commode chairs, crutches, and others, and it decreases the need for caregiver assistance.
Its sustainability improves the overall quality of life by increasing the independence of an individual with functional mobility and activities of daily living. Governments of different nations are increasing awareness of the healthcare infrastructure, as it offers improved facilities and quality-assured medical care, which increases the adoption of the market.
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In April 2022, the World Health Organization (WHO) and the Government of Canada introduced the Global Diabetes Compact, a new initiative to energize efforts to lessen the risk of diabetes across the globe. The initiative is to make sure that all individuals who are diagnosed with diabetes have access to affordable, comprehensive, equitable, and quality treatment & care.
Existing Restraints
High-cost medical equipment and lack of skilled expertise are expected to hamper the durable medical equipment market in the coming years. Medical equipment or devices such as wheelchairs, continuous positive airway pressure, and home oxygen therapy equipment are costly, which hinders the market.
Additionally, strict regulations and guidelines in developed economies are expected to restrain the market during the forecast period.
Emerging Opportunities
Increasing ongoing technological advancements are expected to create lucrative opportunities for the market players during the forecast period. The adoption of smart beds by hospitals is increasing, as they increase the workflow efficiency of the hospital staff as compared to traditional beds.
Smart beds help physicians monitor patients remotely and administer medicines based on the recorded data. Several companies are focusing on developing new technologies that help hospital staff, which increases the adoption of medical devices.
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In October 2020, Stryker launched ProCuity, the industry’s first and only completely wireless hospital bed. It is designed to help lessen patient falls at all acuity levels, expand nurse workflow safety & efficiency, and reduce hospital costs. It seamlessly connect to nurse call systems without the use of wires or cables.
Scope of Durable Medical Equipment Market Report
The market report includes an assessment of the market trends, market segments, and regional markets. Overview and dynamics have also been included in the report.
Attributes |
Details |
Report Title |
Durable Medical Equipment Market - Global Industry Analysis, Growth, Share, Size, Trends, and Forecast |
Base Year |
2022 |
Historic Data |
2016–2021 |
Forecast Period |
2023–2031 |
Segmentation |
Product (Monitoring & Therapeutic Devices [Nebulizers, Suction Pumps, Infusion Pumps, Blood Sugar Monitors, Traction Equipment, and Others], Personality Mobility Devices [Scooters, Door Openers, Wheelchairs, Cranes & Crutches, and Others], and Bathroom Safety Devices & Medical Furniture [Mattress & Bedding Devices and Commodes & Toilets]), and End-user (Home Healthcare, Hospitals, Nursing Homes, and Others) |
Regional Scope |
Asia Pacific, North America, Latin America, Europe, and Middle East & Africa |
Report Coverage |
Company Share, Market Analysis and Size, Competitive Landscape, Growth Factors, Market Trends, and Revenue Forecast |
Key Players Covered in the Report |
Arjo; BD; Carex; Compass Health Brands; Getinge; GF Health Products, Inc.; Humana; Invacare Corporation; Medical Depot, Inc; Medtronic; ResMed; Stryker; and Sunrise Medical |
Durable Medical Equipment Market Segment Insights
Product Segment Analysis
Based on product, the durable medical equipment market is divided into monitoring & therapeutic devices, personality mobility devices, and bathroom safety devices & medical furniture. The monitoring & therapeutic devices segment is further divided into nebulizers, suction pumps, infusion pumps, blood sugar monitors, traction equipment, and others.
The personality mobility devices segment is further divided into scooters, door openers, wheelchairs, cranes & crutches, and others. The bathroom safety devices & medical furniture segment is further divided into mattress & bedding devices and commodes & toilets.
The monitoring & therapeutic devices segment is expected to expand at a significant pace during the projection period, owing to the increasing incidence of chronic diseases among individuals. The segment growth is further attributed to the high demand for wireless monitoring devices and the increasing prevalence of lifestyle-related diseases, which need crucial statistics analysis.
A large number of fitness and health monitoring devices and applications such as fitness brands, wristwatches, and smart glasses monitor heart rate, temperature, and oxygen as well as provide vital health analysis to avoid uncertainty. This, in turn, is expected to increase the demand for monitoring & therapeutic devices in the market in the coming years.
The bathroom safety devices & medical furniture segment is anticipated to hold a key share of the market in the coming years, due to the rising incidence of bariatric and obesity surgeries across the globe. The usage of bathroom safety devices or products are rising, owing to the increasing aging population.
Cardinal Health bath accessories and safety products such as wheelchairs, walkers, power scooters, and other bathroom essentials are designed to maintain the comfort and safety of the patients.
End-user Segment Analysis
On the basis of end-user, the durable medical equipment market is segmented into home healthcare, hospitals, nursing homes, and others. The hospitals segment is expected to register a robust growth rate during the forecast period, owing to the rising number of ventilators, hospital beds, and other devices.
The segment growth is further attributed to the increasing prevalence of chronic diseases and injuries as well as the high demand for medical devices in hospitals.
DME refers to a variety of medical equipment to meet all types of medical needs, including hospital beds, nebulizers, catheters, wheelchairs, CPAP/BiPAP machines, and blood glucose monitors. This, in turn, is likely to increase the demand for medical devices in hospitals which increases the demand for the market.
Regional Analysis
In terms of region, the global durable medical equipment market is classified as Asia Pacific, North America, Latin America, Europe, and Middle East & Africa. North America is expected to dominate the global market during the projection period, due to the increasing prevalence of chronic diseases and the growing number of aged people.
The regional market is further attributed to the increasing adoption of advanced equipment and the approvals & launches of new medical devices in countries such as the US.
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In February 2022, Cheelcare launched Curio, which is a first-of-its-kind powerchair for youth and young adults. It is a complex rehabilitation powerchair built on the Proprietary platform of the company. It utilizes a patented design to provide a wide range of movement and position. Its four legs work independently to allow the wheelchair to elevate, roll, and tilt.
The market in Asia Pacific is anticipated to expand at a rapid pace in the coming years, owing to the increasing investments in the healthcare infrastructure. The regional market growth is further attributed to the increasing prevalence of chronic diseases such as hypertension, high blood pressure, and other health disorders; the rising disposable income of the customers; and the desire to vital medical facilities at home.
- According to the Department of Biotechnology, chronic diseases are increasing worldwide, accounting for 73% of deaths. In India, chronic diseases account for 53%. India has the highest number of people suffering from diabetes across the globe, with approximately 77 million people suffering from diabetes and an estimated 134 million by 2045.
2. Assumptions and Acronyms Used
3. Research Methodology
4. Durable Medical Equipment Market Overview
4.1. Introduction
4.1.1. Market Taxonomy
4.1.2. Market Definition
4.2. Macro-Economic Factors
4.2.1. Industry Outlook
4.3. Durable Medical Equipment Market Dynamics
4.3.1. Market Drivers
4.3.2. Market Restraints
4.3.3. Opportunity
4.3.4. Market Trends
4.4. Durable Medical Equipment Market - Supply Chain
4.5. Global Durable Medical Equipment Market Forecast
4.5.1. Durable Medical Equipment Market Size (US$ Mn) and Y-o-Y Growth
4.5.2. Durable Medical Equipment Market Size (000’ Units) and Y-o-Y Growth
4.5.3. Durable Medical Equipment Market Absolute $ Opportunity
5. Global Durable Medical Equipment Market Analysis and Forecast by End Users
5.1. Market Trends
5.2. Introduction
5.2.1. Basis Point Share (BPS) Analysis by End Users
5.2.2. Y-o-Y Growth Projections by End Users
5.3. Durable Medical Equipment Market Size and Volume Forecast by End Users
5.3.1. Home Healthcare
5.3.2. Hospitals
5.3.3. Nursing Homes
5.3.4. Others
5.4. Absolute $ Opportunity Assessment by End Users
5.5. Market Attractiveness/Growth Potential Analysis by End Users
6. Global Durable Medical Equipment Market Analysis and Forecast by Region
6.1. Market Trends
6.2. Introduction
6.2.1. Basis Point Share (BPS) Analysis by Region
6.2.2. Y-o-Y Growth Projections by Region
6.3. Durable Medical Equipment Market Size and Volume Forecast by Region
6.3.1. North America
6.3.2. Latin America
6.3.3. Europe
6.3.4. Asia Pacific
6.3.5. Middle East and Africa (MEA)
6.4. Absolute $ Opportunity Assessment by Region
6.5. Market Attractiveness/Growth Potential Analysis by Region
6.6. Global Durable Medical Equipment Demand Share Forecast, 2019-2026
7. North America Durable Medical Equipment Market Analysis and Forecast
7.1. Introduction
7.1.1. Basis Point Share (BPS) Analysis by Country
7.1.2. Y-o-Y Growth Projections by Country
7.2. North America Durable Medical Equipment Market Size and Volume Forecast by Country
7.2.1. U.S.
7.2.2. Canada
7.3. Absolute $ Opportunity Assessment by Country
7.4. North America Durable Medical Equipment Market Size and Volume Forecast by End Users
7.4.1. Home Healthcare
7.4.2. Hospitals
7.4.3. Nursing Homes
7.4.4. Others
7.5. Basis Point Share (BPS) Analysis by End Users
7.6. Y-o-Y Growth Projections by End Users
7.7. Market Attractiveness/Growth Potential Analysis
7.7.1. By Country
7.7.2. By Product Type
7.7.3. By Application
7.8. North America Durable Medical Equipment Demand Share Forecast, 2019-2026
8. Latin America Durable Medical Equipment Market Analysis and Forecast
8.1. Introduction
8.1.1. Basis Point Share (BPS) Analysis by Country
8.1.2. Y-o-Y Growth Projections by Country
8.1.3. Latin America Average Pricing Analysis
8.2. Latin America Durable Medical Equipment Market Size and Volume Forecast by Country
8.2.1. Brazil
8.2.2. Mexico
8.2.3. Rest of Latin America
8.3. Absolute $ Opportunity Assessment by Country
8.4. Latin America Durable Medical Equipment Market Size and Volume Forecast by End Users
8.4.1. Home Healthcare
8.4.2. Hospitals
8.4.3. Nursing Homes
8.4.4. Others
8.5. Basis Point Share (BPS) Analysis by End Users
8.6. Y-o-Y Growth Projections by End Users
8.7. Market Attractiveness/Growth Potential Analysis
8.7.1. By Country
8.7.2. By Product Type
8.7.3. By Application
8.8. Latin America Durable Medical Equipment Demand Share Forecast, 2019-2026
9. Europe Durable Medical Equipment Market Analysis and Forecast
9.1. Introduction
9.1.1. Basis Point Share (BPS) Analysis by Country
9.1.2. Y-o-Y Growth Projections by Country
9.1.3. Europe Average Pricing Analysis
9.2. Europe Durable Medical Equipment Market Size and Volume Forecast by Country
9.2.1. Germany
9.2.2. France
9.2.3. Italy
9.2.4. U.K.
9.2.5. Spain
9.2.6. Russia
9.2.7. Rest of Europe
9.3. Absolute $ Opportunity Assessment by Country
9.4. Europe Durable Medical Equipment Market Size and Volume Forecast by End Users
9.4.1. Home Healthcare
9.4.2. Hospitals
9.4.3. Nursing Homes
9.4.4. Others
9.5. Basis Point Share (BPS) Analysis by End Users
9.6. Y-o-Y Growth Projections by End Users
9.7. Market Attractiveness/Growth Potential Analysis
9.7.1. By Country
9.7.2. By Product Type
9.7.3. By Application
9.8. Europe Durable Medical Equipment Demand Share Forecast, 2019-2026
10. Asia Pacific Durable Medical Equipment Market Analysis and Forecast
10.1. Introduction
10.1.1. Basis Point Share (BPS) Analysis by Country
10.1.2. Y-o-Y Growth Projections by Country
10.1.3. Asia Pacific Average Pricing Analysis
10.2. Asia Pacific Durable Medical Equipment Market Size and Volume Forecast by Country
10.2.1. China
10.2.2. Japan
10.2.3. South Korea
10.2.4. India
10.2.5. Australia
10.2.6. Rest of Asia Pacific (APAC)
10.3. Absolute $ Opportunity Assessment by Country
10.4. Asia Pacific Durable Medical Equipment Market Size and Volume Forecast by End Users
10.4.1. Home Healthcare
10.4.2. Hospitals
10.4.3. Nursing Homes
10.4.4. Others
10.5. Basis Point Share (BPS) Analysis by End Users
10.6. Y-o-Y Growth Projections by End Users
10.7. Market Attractiveness/Growth Potential Analysis
10.7.1. By Country
10.7.2. By Product Type
10.7.3. By Application
10.8. Asia Pacific Durable Medical Equipment Demand Share Forecast, 2019-2026
11. Middle East & Africa Durable Medical Equipment Market Analysis and Forecast
11.1. Introduction
11.1.1. Basis Point Share (BPS) Analysis by Country
11.1.2. Y-o-Y Growth Projections by Country
11.1.3. Middle East & Africa Average Pricing Analysis
11.2. Middle East & Africa Durable Medical Equipment Market Size and Volume Forecast by Country
11.2.1. Saudi Arabia
11.2.2. South Africa
11.2.3. UAE
11.2.4. Rest of Middle East & Africa (MEA)
11.3. Absolute $ Opportunity Assessment by Country
11.4. Middle East & Africa Durable Medical Equipment Market Size and Volume Forecast by End Users
11.4.1. Home Healthcare
11.4.2. Hospitals
11.4.3. Nursing Homes
11.4.4. Others
11.5. Basis Point Share (BPS) Analysis by End Users
11.6. Y-o-Y Growth Projections by End Users
11.7. Market Attractiveness/Growth Potential Analysis
11.7.1. By Country
11.7.2. By Product Type
11.7.3. By Application
11.8. Middle East & Africa Durable Medical Equipment Demand Share Forecast, 2019-2026
12. Competition Landscape
12.1. Global Durable Medical Equipment Market: Market Share Analysis
12.2. Durable Medical Equipment Distributors and Customers
12.3. Durable Medical Equipment Market: Competitive Dashboard
12.4. Company Profiles (Details: Overview, Financials, Developments, Strategy)
12.4.1. Arjo
12.4.2. BD
12.4.3. Carex
12.4.4. Compass Health Brands
12.4.5. Getinge
12.4.6. GF Health Products, Inc.
12.4.7. Humana
12.4.8. Invacare Corporation
12.4.9. Medical Depot, Inc
12.4.10. Medtronic
12.4.11. ResMed
12.4.12. Stryker
12.4.13. Sunrise Medical