Durable Medical Equipment Market Analysis

Durable Medical Equipment Market Analysis

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.

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.

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.
 

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.