North America Durable Medical Equipment Market Share Analysis Report, 2023-2032
The North America durable medical equipment market size was exhibited at USD 73.24 billion in 2022 and is projected to hit around USD 129.93 billion by 2032, growing at a CAGR of 5.9% during the forecast period 2023 to 2032.
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Key Takeaways:
North America Durable Medical Equipment Market Report Scope
| Report Attribute | Details |
| Market Size in 2023 | USD 77.56 Billion |
| Market Size by 2032 | USD 129.93 Billion |
| Growth Rate From 2023 to 2032 | CAGR of 5.9% |
| Base Year | 2022 |
| Forecast Period | 2023 to 2032 |
| Segments Covered | Product, End-use, Region |
| Market Analysis (Terms Used) | Value (US$ Million/Billion) or (Volume/Units) |
| Report Coverage | Revenue forecast, company ranking, competitive landscape, growth factors, and trends |
| Key Companies Profiled | Invacare Corp.; Sunrise Medical; Arjo; Medline Industries, Inc.; GF Healthcare Products, Inc.; Carex Health Brands, Inc.; Cardinal Health; Drive DeVilbiss Healthcare; NOVA Medical Products; Kaye Products, Inc. |
The COVID-19 pandemic has affected the logistics and supply chain of the Durable Medical Equipment (DME). The market is majorly driven by the rising product demand due to the rising need for the product and the growing geriatric population that is prone to various chronic diseases, such as cancer, cardiovascular disorders, neurological disorders, and mobility disorders.
Durable medical equipment plays a major part in long-term remote care after surgery at home or any other healthcare setting. This is also estimated to propel market growth. Additionally, the stringent regulatory guidelines in developed countries and the lack of skilled professionals for this equipment are said to hinder the industry growth.
The rising chronic diseases and need for healthcare services have affected U.S. healthcare expenditure from USD 3.5 trillion in 2017 to USD 6.2 trillion in 2028 and account for 20% of the GDP. The anticipated growth in the annual spending for Medicare (7.9%) is projected to contribute significantly to the increase in the national health expenditure over the forecast period.
The COVID-19 pandemic negatively impacted the durable medical equipment market initially due to the lack of accessibility of the products to the customers. The pandemic has affected the operations and financial condition of various market players. The DME suppliers have faced interruptions in the logistics, such as significant delays and order cancellations, as a result of public health and economic emergencies related to the COVID-19 pandemic.
The rising chronic diseases have directed resulted in an increasing demand for DME. Cancer is one of the leading causes of death in the region. An estimated 608,570 Americans will die from cancer in 2021. As per the National Cancer Institute Report 2018, approximately 1.7 million people in the U.S. were diagnosed with cancer. Diabetes is another serious chronic disease that is responsible for market growth. In the U.S., 1 out of 10 people have diabetes and 11.3% of the U.S. population is living with diabetes.
The durable medical equipment users can avail reimbursement and coverage for the products are also likely to boost the growth of the market. Durable medical equipment is covered under Medicare. Medicare Part-B beneficiaries pay 20% of the approved cost of the product and the remaining 80% is paid by Medicare.
Product Insights
The monitoring and therapeutic devices held the largest market share of 91.4% in 2022 due to the increasing demand for health monitoring devices such as wristwatches or fitness bands. Increasing patient preference for at-home medical treatment or remote medical services over an in-patient setting is contributing to the segment growth. The other product segments include bathroom safety devices, personal mobility devices, and medical furniture.
The bathroom safety devices and medical furniture segment is anticipated to witness the fastest CAGR of over 6.9% during the forecast period. The increasing geriatric population, chronic illness, and the requirement for the medical furniture such as medical beds, transport chairs, etc. are likely to create more need & demand for mobility products over the forecast period as these factors generally reduce the ability to move and perform physical tasks to maintain independent functioning.
End-use Insights
The end-use segment consists of hospitals, nursing homes, home healthcare, and other end-users. Hospitals led the end-use segment with 36.2% in 2022 on account of the rising number of patient admission due to the increasing chronic diseases and healthcare needs. There is a rise in the hospital’s financing and services capabilities to provide better care to the patients.
Nursing homes are considered to provide the most extensive care that can be offered in a non-hospital setting. Nursing homes also provide custodial care, which includes skilled care like providing food, dressing, etc. Factors, such as the increasing number of these establishments across the region are expected to boost the market over the forecast period.
Home healthcare is expected to witness the highest growth rate of 6.5% over the forecast period due to the cost-saving approach for the patient to get remote healthcare services and the rising demand for remote equipment for homecare use.
Regional Insights
The U.S. accounted highest market share of 84.2% 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 country is continuously developing cost-efficient and advanced devices for 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.
Canada is expected to be the fastest-growing country during the forecast period as a result of the rapid development of advanced DME products, rising target population base with increasing chronic diseases, the need for medical equipment by the patients, and supportive reimbursement policies.
Key Companies & Market Share Insights
Some of the major market players include Invacare Corp., Sunrise Medical, Arjo, Medline Industries, Inc., GF Healthcare Products, Inc., Carex Health Brands, Inc., Cardinal Health, Drive DeVilbiss Healthcare, NOVA Medical Products, Kaye Products, Inc. These companies are continuously focusing on initiatives such as mergers & acquisitions, regional expansion, and novel product development. For instance, in August 2020, Sunrise Medical completed the acquisition of Leckey and Firefly which is likely to extend the company’s existing pediatric mobility portfolio. Some prominent players in the North America durable medical equipment market include:
Segments Covered in the Report
This report forecasts revenue growth at 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 North America Durable Medical Equipment market.
By Product
By End-use
By Regional
Chapter 1. Executive Summary
1.1. Market Outlook
1.2. Segment Outlook
1.3. Competitive Insights
1.4. North America Durable Medical Equipment Market Snapshot
1.5. North America Durable Medical Equipment Market Segment Snapshot
1.6. North America Durable Medical Equipment Market Competitive Landscape Snapshot
Chapter 2 Research Methodology
2.1 Country-wise Market: Base Estimates
2.2 Global Market: CAGR Calculation
2.3 Region-based Segment Share Calculation
2.4 Research Scope & Assumptions
2.5 List of Data Sources
2.5.1 Data for primary interviews, by sources
2.5.2 Data for primary interviews, by region
2.6 Market Snapshot
Chapter 3 North America Durable Medical Equipment Market Variables, Trends, & Scope
3.1 Market Segmentation & Scope
3.2 Market Driver Analysis
3.2.1 Increasing prevalence of chronic diseases requiring long-term care
3.2.2 Growing geriatric population
3.2.3 Increasing penetration of home healthcare services and staff
3.3 Market Restraint Analysis
3.3.1 Performance failure and durability issues of DME
3.3.2 Lower remunerations
3.4 Key Opportunities Prioritized
3.4.1 Key opportunities prioritized, by product
3.4.2 Key opportunities prioritized, by end-use
3.5 North America Durable Medical Equipment - SWOT Analysis, by Factor (Political & Legal, Economic, and Technological)
3.6 Industry Analysis - Porter’s
Chapter 4 Durable Medical Equipment Market: Product Estimates & Trend Analysis
4.1 North America Durable Medical Equipment Market: Product Movement Analysis
4.2 Personal Mobility Devices
4.2.1 Wheelchairs
4.2.1.1 Wheelchair market, 2020 - 2032
4.2.2 Scooters
4.2.2.1 Scooters market, 2020 - 2032
4.2.3 Walker and rollators
4.2.3.1 Walker and rollators market, 2020 - 2032
4.2.4 Cranes and Crutches
4.2.4.1 Cranes and crutches market, 2020 - 2032
4.2.5 Door Openers
4.2.5.1 Door openers market, 2020 - 2032
4.2.6 Other Devices
4.2.6.1 Other devices market, 2020 - 2032
4.3 Bathroom Safety Devices and Medical Furniture
4.3.1 Commodes and toilets
4.3.1.1 Commodes and toilets market, 2020 - 2032
4.3.2 Mattress & Bedding Devices
4.3.2.1 Mattress & bedding devices market, 2020 - 2032
4.4 Monitoring and Therapeutic Devices
4.4.1 Blood sugar monitors
4.4.1.1 Blood sugar monitors market, 2020 - 2032
4.4.2 Continuous passive motion (CPM)
4.4.2.1 Continuous passive motion (CPM) market, 2020 - 2032
4.4.3 Infusion pumps
4.4.3.1 Infusion pumps market, 2020 - 2032
4.4.4 Nebulizers
4.4.4.1 Nebulizers market, 2020 - 2032
4.4.5 Oxygen equipment
4.4.5.1 Oxygen equipment market, 2020 - 2032
4.4.6 Continuous Positive Airway Pressure (CPAP)
4.4.6.1 Continuous Positive Airway Pressure (CPAP) market, 2020 - 2032
4.4.7 Suction pumps
4.4.7.1 Suction pumps market, 2020 - 2032
4.4.8 Traction equipment
4.4.8.1 Traction equipment market, 2020 - 2032
4.4.9 Others equipment
4.4.9.1 Others equipment market, 2020 - 2032
Chapter 5 North America Durable Medical Equipment Market: End-use Estimates & Trend Analysis
5.1 North America Durable Medical Equipment Market: End-use Movement Analysis
5.2 Hospitals
5.2.1 Hospitals market, 2020 - 2032
5.3 Nursing Homes
5.3.1 Nursing homes market, 2020 - 2032
5.4 Home Healthcare
5.4.1 Home healthcare market, 2020 - 2032
5.5 Other End-user
5.5.1 Other end-user market, 2020 - 2032
Chapter 6 North America Durable Medical Equipment Market: Regional Estimates & Trend Analysis, by Product, End-use
6.1 North America Durable Medical Equipment Market Share by Region, 2023 & 2032
6.2 North America
6.2.1 U.S.
6.2.1.1 U.S. durable medical equipment market, by product, 2020 - 2032
6.2.1.2 U.S. durable medical equipment market, by end-use, 2020 - 2032
6.2.2 Canada
6.2.2.1 Canada durable medical equipment market, by product, 2020 - 2032
6.2.2.2 Canada durable medical equipment market, by end-use, 2020 - 2032
Chapter 7 Competitive Landscape
7.1 Company Profiles
7.1.1 Invacare Corp.
7.1.1.1 Company overview
7.1.1.2 Financial performance
7.1.1.3 Product benchmarking
7.1.1.4 Strategic initiatives
7.1.2 Sunrise Medical
7.1.2.1 Company overview
7.1.2.2 Financial performance
7.1.2.3 Product benchmarking
7.1.2.4 Strategic initiatives
7.1.3 Arjo
7.1.3.1 Company overview
7.1.3.2 Financial performance
7.1.3.3 Product benchmarking
7.1.3.4 Strategic initiatives
7.1.4 Medline Industries, Inc.
7.1.4.1 Company overview
7.1.4.2 Financial performance
7.1.4.3 Product benchmarking
7.1.4.4 Strategic initiatives
7.1.5 GF Healthcare Products, Inc.
7.1.5.1 Company overview
7.1.5.2 Financial performance
7.1.5.3 Product benchmarking
7.1.5.4 Strategic initiatives
7.1.6 Carex Health Brands, Inc.
7.1.6.1 Company overview
7.1.6.2 Financial performance
7.1.6.3 Product benchmarking
7.1.6.4 Strategic initiatives
7.1.7 Cardinal Health
7.1.7.1 Company overview
7.1.7.2 Financial performance
7.1.7.3 Product benchmarking
7.1.7.4 Strategic initiatives
7.1.8 Kaye Products, Inc.
7.1.8.1 Company overview
7.1.8.2 Financial performance
7.1.8.3 Product benchmarking
7.1.8.4 Strategic initiatives
7.1.9 Drive DeVilbiss Healthcare
7.1.9.1 Company overview
7.1.9.2 Financial performance
7.1.9.3 Product benchmarking
7.1.9.4 Strategic initiatives
7.1.10 NOVA Medical Products
7.1.10.1 Company overview
7.1.10.2 Financial performance
7.1.10.3 Product benchmarking
7.1.10.4 Strategic initiatives
Cross-segment Market Size and Analysis for
Mentioned Segments
Additional Company Profiles (Upto 5 With No Cost)
Additional Countries (Apart From Mentioned Countries)
Country/Region-specific Report
Go To Market Strategy
Region Specific Market DynamicsRegion Level Market Share Import Export AnalysisProduction AnalysisOthers