Durable Medical Equipment Market Size, Share & Trends Analysis Report By Product, By End Use (Hospitals, Nursing Homes), By Region- Global Industry Analysis, Share, Growth, Regional Outlook and Forecasts, 2023-2032

The global Durable Medical Equipment market size was exhibited at USD 206.96 billion in 2022 and is projected to hit around USD 340.67 billion by 2032, growing at a CAGR of 5.11% during the forecast period 2023 to 2032.

Key Pointers:

• In 2022, the monitoring and therapeutic devices segment held a market share of 89.4% 
• The bathroom safety device and medical furniture registered the highest growth rate of 6.11% 
• Hospitals led the end-use segment with 35.8% in 2022
• North America accounted highest market share of 35.9% in 2022.

Durable Medical Equipment Market Report Scope

The market is primarily driven by a rise in chronic diseases, such as kidney failure and cancer. Moreover, technological advancements along with a strong reimbursement scenario are likely to boost the durable medical equipment (DME) market over the forecast period.

The growing geriatric population across the globe is likely to contribute to the industry expansion. People aged 60 years or above are more prone to health issues, such as diabetes, mobility issues, Cardiovascular Diseases (CVDs), and other lifestyle problems. This creates demand for DME products. However, stringent regulatory guidelines in developed economies and a lack of skilled professionals may limit the market growth.

The COVID-19 pandemic has initially affected the market due to the shortage of supply of the product. The market players have resulted in a decline in operations, sales, and revenue during the pandemic. The outbreak has temporarily changed the customer’s spending habits due to the restrictions imposed by the government. The pandemic has resulted in rising costs of the product and post-sale services for the recovery of financial loss incurred by the market players.

The availability of technologically advanced products has also played an important role in positively impacting the growth of the market. Countries such as U.S., UK, and Germany are innovators and early adopters of advanced technologies, thus these are the most important customers for medical device markets with rapid technological innovations. Technological breakthroughs concentrating on increasing efficiency are expected to occur during the forecast period, thereby driving market growth.

Product Insights

Based on product, the market is segmented into bathroom safety devices and medical furniture, personal mobility devices, and monitoring and therapeutic devices. In 2022, the monitoring and therapeutic devices segment held a market share of 89.4% owing to the growing incidence of lifestyle-related diseases, which need vital statistics analysis, and increasing demand for wireless monitoring devices. The market is gaining prominence due to the rising number of health and fitness monitoring applications and devices globally such as wrist watches, fitness bands, and smart glasses which can monitor heart rate, oxygen, and temperature and provide critical health analysis to avoid uncertainty.

The bathroom safety device and medical furniture registered the highest growth rate of 6.11% due to the increasing prevalence of obesity and bariatric surgeries worldwide. The introduction of technologically advanced products with supreme patient comfort and portability is expected to fuel the segment growth.

End-use Insights

Based on end-use, the market has been segmented into hospitals, nursing homes, home healthcare, and others. Hospitals led the end-use segment with 35.8% in 2022 on account of a high volume of patients due to the increasing chronic diseases globally and increased financing and services capabilities of these healthcare settings.

Nursing homes are considered to provide the most extensive care that can be offered in a non-hospital setting. Along with the basic line of treatment, nursing homes also offer custodial care, which includes skilled care, such as bathing, dressing, and providing meals. The segment is anticipated to witness a lucrative share in the forecast period on account of the increasing number of these establishments across the globe. Home healthcare is expected to witness the highest growth rate over the forecast period due to the cost-saving approach for the patient to get remote healthcare services.

Regional Insights

North America accounted highest market share of 35.9% in 2022. The rapid adoption of advanced equipment in the U.S. has allowed the region to account for a larger market share. The presence of leading manufacturers and quick adoption of advanced products are projected to boost the region’s growth further. The region is continuously developing cost-efficient and advanced devices for the patients to capture a huge share of the market. In addition, the rise in the number of hospitals and the growing geriatric population are factors responsible for the regional market growth.

The Asia Pacific is expected to be the fastest-growing region during the forecast period as a result of the rise in the target population base with increasing chronic diseases, the need for medical equipment by the patients, and supportive government initiatives. Moreover, economic strides made by countries, such as China, India, and South Korea, coupled with improvements in healthcare infrastructure will contribute to the region’s growth.

Some of the prominent players in the Durable Medical Equipment Market include:

• Invacare Corporation
• ArjoHuntleigh
• Stryker Corporation
• Hill Rom, Inc.
• Drive Medical
• GF Health Products, Inc.
• Sunrise Medical
• Medline Industries
• Hill Rom, Inc.
• Carex Health Brands, Inc
• Becton, Dickinson and Company
• General Electric Company
• Medtronic PLC
• Compass Health Brands
• Getinge AB
• Resmed Inc.

Segments Covered in the Report

This report forecasts revenue growth at global, regional, and country levels and provides an analysis of the latest industry trends in each of the sub-segments from 2018 to 2032. For this study, Nova one advisor, Inc. has segmented the global Durable Medical Equipment market.

By Product 

• Personal Mobility Devices
  • Wheelchairs
  • Scooters
  • Walker And Rollators
  • Cranes And Crutches
  • Door Openers
  • Other Devices
• Bathroom Safety Devices And Medical Furniture
  • Commodes And Toilets
  • Mattress & Bedding Devices
• Monitoring And Therapeutic Devices
  • Blood Glucose Monitors
  • Continuous Passive Motion (CPM)
  • Infusion Pumps Market
  • Nebulizers
  • Oxygen Equipment
  • Continuous Positive Airway Pressure (CPAP)
  • Suction Pumps
  • Traction Equipment
  • Others Equipment

By End-use 

• Hospitals
• Nursing Homes
• Home Healthcare
• Other End-user

By Region

• North America
• Europe
• Asia-Pacific
• Latin America
• Middle East & Africa (MEA)