Durable Medical Equipment Market Size By Product (Personal Mobility Devices {Wheelchair and Scooter, Crutches and Canes, Walker}, Monitoring and Therapeutic Devices {Oxygen Equipment, Blood Glucose Analyzers, Vital Sign Monitors, Infusion Pumps, Continuous Positive Airway Pressure [CPAP] Devices Nebulizers}, Bathroom Safety Devices, Medical Furniture, Incontinent Pads, Breast Pumps, Catheters, Consumables and Accessories), By Payer (Public, Private, Out-of-Pocket), By End-use (Hospitals, Home Healthcare, Ambulatory Surgical Centers), Industry Analysis Report, Regional Outlook, Growth Potential, Price Trends, Competitive Market Share & Forecast, 2020 – 2026

Published Date: Mar 2020  |  Report ID: GMI3894  |  Authors: Sumant Ugalmugale, Rupali Swain

Report Format: PDF   |   Pages: 200   |   Base Year: 2019




Summary Table of Contents Industry Coverage Methodology

Industry trends

Durable Medical Equipment Market size was valued at USD 180 billion in 2019 and is expected to witness more than 6.1% CAGR from 2020 to 2026. Technological advancements in manufacturing of durable medical equipment (DME) will render a positive impact on the market growth. Advancement in medical technology has allowed surgeons to securely diagnose and treat patients effectively. Continuous development in the medical field have saved several patients’ lives and enhanced the quality of life. Improving quality of life is the foremost advantage of integrating new alteration into medicine.
 

Durable Medical Equipment Market
Get more details on this report - Request Free Sample PDF
 

Furthermore, medical technologies such as comfortable scanning equipment and better monitoring systems are further allowing patients to spend minimum time in recovery, thereby driving DME demand. The integration of medical equipment technology including wireless remote monitoring to meet the demand for treatments stemming from surging incidence of diseases drives the DME market growth.
 

Durable Medical Equipment Market Report Coverage
Report Coverage Details
Base Year: 2019 Market Size in 2019: USD 184.0 Billion
Historical Data for: 2015 to 2019 Forecast Period: 2020 to 2026
Forecast Period 2020 to 2026 CAGR: 6.1% 2026 Value Projection: USD 280.6 Billion
Pages: 200 Tables, Charts & Figures: 322
Geographies covered (18): U.S., Canada, Germany, UK, France, Italy, Spain, China, Japan, India, Australia, Singapore, Brazil, Mexico, South Africa, Saudi Arabia, UAE, Turkey
Segments covered: Product, Payer, End-use and Region
Companies covered (10): Medline Industries, Intco Medical, Getinge, Stryker, Cardinal Health, GF Health Products, Hill-Rom Services, Invacare, Compass Health Brands and Sunrise Medical
Growth Drivers:
  • Rising patient preference for home-based care
  • Increasing prevalence of chronic diseases across the globe
  • Growing geriatric population base throughout the globe
  • Technological advancements
Pitfalls & Challenges:
  • Lack of skilled professionals

Get more details on this report - Request Free Sample PDF
 

Increasing usage of durable medical equipment among elderly population base upsurges the business progression

Increasing elderly population base across the globe is regarded as the major factor contributing in driving the durable medical equipment market growth. The number of older population’s aged 80 years and above is projected to grow at a much faster rate than the younger population. According to WHO, by 2020, the number of individuals aged 60 years and above will outnumber children younger than five years. Additionally, proportion of the world’s population over 60 years will double from 12% to 22% between 2015 to 2050. Thus, growing geriatric base will significantly propel DME market growth over the analysis period.
 

Furthermore, elderly population base is more prone to falls and injury as compared to other age groups. For instance, according to the WHO, nearly 28%-35% of people aged 65 and over fall, whereas, the percentage has increased to 32%-42% for people aged over 70 years. Similarly, the fall injuries such as spinal cord injuries, fractures have highly increased in the last three decades. Therefore, durable medical equipment is used by the geriatric population for their activities of daily living (ADLs), that further drives the market demand. However, lack of skilled professionals may hinder the market growth.
 

Durable Medical Equipment Market 2019& 2026

Get more details on this report - Request Free Sample PDF
 

Growing usage of monitoring devices in healthcare industry will provide lucrative growth opportunities

The monitoring and therapeutic devices segment accounted for around USD 22 billion in 2019, owing to rising usage of these devices among elderly population, that effectively manage patient health, thus favouring market progression.
 

Monitoring and therapeutic devices are further divided into vital sign monitors, infusion pumps, blood glucose analyzers, CPAP devices and nebulizers among others that enhances the overall market expansion. Several conditions including cancer, diabetes and hyperglycaemia are monitored by these devices. Hence, above mentioned factors prove beneficial for the durable medical equipment industry growth.
 

Public payers cover maximum coverage for durable medical equipment used for home care settings

The public segment accounted for over 37% revenue share in 2019. Medicare covers durable medical equipment that specifically serves a medical purpose. These devices are able to withstand repeated use and are appropriate for the usage in-home care settings that surge market progression. Moreover, public payers also offer Medicare advantage plans with additional benefits on durable medical equipment. Additionally, blood sugar monitors, hospital beds, infusion pumps, lancet, oxygen equipment, patient lifts, wheelchairs and commode chairs among others are widely covered under public payer segment.
 

Surging expenditure in healthcare infrastructure and facilities is expected to rapidly grow number of hospitals

The durable medical equipment market share from hospital segment accounted for around USD 62 billion in 2019. Increasing number of patients requiring critical care in hospitals coupled with availability of secured healthcare infrastructure favours market growth. Furthermore, presence of skilled professionals along with advanced equipment including sling lifts and transfer chairs used in hospital settings boosts the market growth.
 

Presence of foremost industry players in North America proves beneficial for the regional market expansion

Global Durable Medical Equipment Market By Country

Get more details on this report - Request Free Sample PDF
 

North America's durable medical equipment market held maximum revenue share in 2019 and will witness more than 4% CAGR during the analysis period. Rising geriatric population coupled with increasing prevalence of disabilities are the foremost factors driving durable medical equipment business demand in this region. According to the U.S. Census Bureau, by 2035, there will be about 78.0 million people aged above 65 years and the median age of the U.S. is expected to increase from present 38 years to 43 years by 2060.
 

The presence of major industry players in the U.S. with increasing focus on novel product launch will accelerate the U.S. market growth. Moreover, numerous government initiatives and existence of government agencies in this region will propel the regional market expansion.
 

Innovative product launches by prominent industry players to sustain market competition

Some of the eminent market players operating in the durable medical equipment industry share include Cardinal Health, Stryker, Medline Industries, Hill-Rom Services, Getinge, Invacare, Sunrise Medical, Intco Medical, Compass Health Brands and GF Health Products among others. The foremost market competitors strategically implement numerous organic and inorganic growth strategies to garner extra revenue and sustain the market competition.
 

Some of the recent industry developments:

  • In October 2017, Hill-Rom introduced Centrella Smart+ bed Solution. The system was designed to provide efficient patient safety, and to further improve patient satisfaction through superior caregiver-focused technology. Centrella Smart+ bed Solution were made available in the U.S. and Canada from November 2017.
     
  • In December 2017, Medline entered into a strategic agreement with Resource Optimization & Innovation (ROi), through ROi’s Pre-Commitment Program for delivering incontinence products. This strategy thereby enhanced the product range of the company.
     

The durable medical equipment market research report includes an in-depth coverage of the industry with estimates & forecast in terms of revenue in USD from 2015 to 2026, for the following segments:

DME Market By Product

  • Personal Mobility Devices
    • Wheelchair and Scooter
    • Crutches and Canes
    • Walkers
    • Others
  • Monitoring and Therapeutic Devices
    • Oxygen Equipment
    • Blood Glucose Analyzers
    • Vital Sign Monitors
    • Infusion Pumps
    • Continuous Positive Airway Pressure (CPAP) Devices
    • Nebulizers
    • Others
  • Bathroom Safety Devices
  • Medical Furniture
  • Incontinent Pads
  • Breast Pumps
  • Catheters
  • Consumables and Accessories
  • Others

By Payer

  • Public
  • Private
  • Out-of-pocket

By End-use

  • Hospitals
  • Home Healthcare
  • Ambulatory Surgical Centers
  • Others

The above information is provided for the following regions and countries:

  • North America
    • U.S.
    • Canada
  • Europe
    • Germany
    • UK
    • France
    • Italy
    • Spain
  • Asia Pacific
    • Japan
    • China
    • India
    • Australia
    • Singapore
  • Latin America
    • Brazil
    • Mexico
  • Middle East & Africa
    • Saudi Arabia
    • South Africa
    • UAE
    • Turkey

 

Frequently Asked Questions (FAQ) :

Growing usage of monitoring devices in healthcare industry will provide lucrative growth market opportunities for DME providers.
The monitoring and therapeutic devices segment accounted for around USD 22 billion in 2019, says a GMI report.
The North America durable medical equipment market is expected to grow at more than 4% CAGR during 2020 to 2026.
According to this report, the public segment accounted for over 37% market share in 2019.

Buy Now

Need a Discount? Get in touch with us for special pricing

Request Discount

Connect with our sales team

Premium Report Details

  • Published Date: Mar 2020
  • Pages: 200
  • Tables: 307
  • Charts / Figures: 15
  • Companies covered: 10
  • Countries covered: 18

Benefits of Association

Data Coverage & Quality

GMI reports provide the most comprehensive coverage of any focus industry, ensuring a holistic and deep understanding of the market, along with actionable and granular data. We also take pride in our commitment to quality and strive to ensure that our clients get their moneys worth.

Client Trust & Security

GMI maintains strict code of conduct as a business and is committed to ensure that the privacy and trust of our clients are always maintained. As an organization, we also strive to be fully compliant with privacy laws, PCI and information security guidelines.

Customer Service

Our customers rely on us to produce accurate, reliable and timely information. Service orientation is a key mission for us as an organization; our process is guided by the desire to ensure that our clients are provided the best possible solutions in optimal timeframe. GMI stands by its commitment to service, providing timely assistance in both pre-sales and post-sales support for our clients.

GMIPulse, our report store

We have introduced ‘GMIPulse’, which is our report store; designed to offer clients a one-stop platform for all market research and business intelligence requirements. Clients can access reports, presentations, raw data excel sheets as well as detailed company profiles. GMIPulse allows you to track relevant industries and stay informed with latest innovation, competitive and regulatory developments to help design strategic framework.

Chat with us
We use cookies to enhance your experience. By continuing to visit this site you agree to our use of cookies. More info X