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

Industry trends

Durable Medical Equipment Market size was valued at around USD 180 billion in 2019 and is expected to grow at over 6.1% CAGR from 2020 to 2026.
 

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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. 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 industry 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 market expansion.
 

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

Rising elderly population base across the globe is regarded as the major factor contributing in fuelling the industry 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 the industry expansion during the forecast period.
 

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 boosts the industry progression. However, lack of skilled professionals may hinder the market demand.
 

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 led by the rising usage of these devices among elderly population, that effectively manage patient health, thus favouring the industry demand.
 

Monitoring and therapeutic devices are further divided into vital sign monitors, infusion pumps, blood glucose analyzers, CPAP devices and nebulizers among others that augment the overall market revenue. Several conditions including cancer, diabetes and hyperglycaemia are monitored by these devices.
 

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

The public segment captured 37% of the durable medical equipment market 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 foster the market value. 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.
 

Increasing expenditure in healthcare infrastructure and facilities is poised to rapidly grow number of hospitals

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The hospital segment exceeded USD 62 billion in 2019. Growing number of patients requiring critical care in hospitals coupled with availability of secured healthcare infrastructure favours the market growth. In addition, presence of skilled professionals along with advanced equipment including sling lifts and transfer chairs used in hospital settings boosts the market expansion.
 

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

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North America durable medical equipment market is estimated to register growth of 4% by 2026 owing to the rising geriatric population coupled with increasing prevalence of disabilities. 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 progression. Moreover, numerous government initiatives and existence of government agencies in this region will propel the regional expansion.
 

Innovative product launches by prominent industry leaders to sustain market competition

Some of the eminent companies operating in the market 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 industry 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:

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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

Market, By Payer

• Public
• Private
• Out-of-pocket

Market, 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