Durable Medical Equipment Market Size was valued at USD 209.07 billion in 2023. The durable medical equipment industry is projected to grow from USD 218.90 Billion in 2024 to USD 304 billion by 2032, exhibiting a compound annual growth rate (CAGR) of 4.19% during the forecast period (2024 - 2032). A growing global old population has led to an increase in elderly care facilities, and better coverage and reimbursement rules for durable medical equipment are the key market drivers enhancing the market growth.
Source: Secondary Research, Primary Research, MRFR Database and Analyst Review
In April 2024, the United States Food and Drug Administration (FDA) initiated a new program aimed at promoting the advancement of home healthcare models and solutions that enhance health equity. The initiative, known as "Home as a Health Care Hub," aims to transform the home environment into an essential component of the healthcare system. Its main objective is to promote health equity for all individuals in the United States. Healthcare provider organizations are increasingly utilizing the home as a clinical care site. However, the successful transition of care from healthcare facilities requires the development of new protocols and devices. Many equipment now employed in home-based healthcare settings are not specifically developed for these settings, indicating a shortage of medical-grade devices intended for integrated home healthcare models. The FDA's Center for Devices and Radiological Health (CDRH) will collaborate with patient groups, healthcare providers, and medical device makers to establish the Home as a Health Care Hub. The purpose of the hub is to function as a laboratory where these individuals involved can engage in discussions and create prototypes and gadgets specifically designed for use at home, with the goal of promoting health equity in a faster manner. The center intends to utilize the hub as a means to assist medical device inventors and providers in exploring novel device designs and prospects for expanding treatment alternatives. Additionally, it aims to facilitate talks regarding value-based care models. The primary objective of the center is to facilitate the participation of underrepresented communities in clinical trials and other research opportunities by means of the hub.
The growth in the number of individuals with disabilities can contribute to the growth of the durable medical equipment (DME) market in several ways. DME refers to a wide range of medical devices and equipment that are designed to aid individuals with disabilities or medical conditions in performing daily activities or receiving medical treatment.
One way in which the growth in the number of individuals with disabilities can help to drive the DME market is by increasing the demand for these types of products. As more people require DME to assist with their daily activities or medical needs, the market for these products will naturally expand to meet that demand.
Additionally, according to the Centers for Disease Control and Prevention (CDC) estimates that approximately 61 million adults in the United States, or about 26% of the population, have a disability. This number is expected to grow as the population ages and the prevalence of chronic diseases increases. Additionally, the National Institutes of Health (NIH) reports that the number of people with disabilities worldwide is increasing, particularly in low- and middle-income countries. Therefore, such disabilities condition has enhanced the durable medical equipment market CAGR across the globe in the recent years.
Overall, while growth in the number of individuals with disabilities is not a positive trend in and of itself, it highlights the importance of continued investment and innovation in the DME market to ensure that people with disabilities have access to the tools and equipment they need to live full and independent lives is another factor driving the growth of the durable medical equipment revenue.
The global durable medical equipment segmentation, based on device type, includes personal mobility devices, medical furniture, monitoring and therapeutic devices, and bathroom safety devices. Due to the growing rise in chronic diseases among individuals throughout the world that require long-term treatments, the monitoring and therapeutic devices sector will dominate the durable medical equipment market with the biggest revenue share over the projected period. Additionally, it is predicted that the market for durable medical equipment would expand due to patients' preferences for receiving care at home. For Instance, In 2020, there were 727 million individuals worldwide who were 65 or older, according to the World Ageing Population study. By 2050, its population is anticipated to approach 1.5 billion. By 2050, there are projected to be 16.0% more senior persons in the world's population, up from 9.3% in 2020.
Due to the rising rates of obesity and bariatric operations throughout the world, the bathroom safety device and medical furnishings saw the greatest growth rate of 6.9% of global durable medical equipment revenue. The launch of highly portable, technologically sophisticated goods that provide the best patient comfort is anticipated to drive category expansion.
January 2021: Healthcare technology startup Mindray has expanded its VS Series product range to include the VS 9 and VS 8 vital signs monitors. The latest vital signs monitors, which are only accessible in a few places like Europe, Australia, and others, will improve the capabilities of spot-check patient monitoring.
August 2021: For clinical-grade spot-check measures of blood pressure and other vital signs in hospitals and clinics, the Huntleigh SC300 is the best, most inexpensive option. It has a 6" color-coded display and can last for up to 12 hours before needing to be recharged.
Based on End Users, the global durable medical equipment industry has been segmented into hospital/clinic, ambulatory surgical center, research centers, and home healthcare. The end use category is dominated by the durable medical equipment used in hospitals and other healthcare facilities. The necessity for durable medical equipment in the market is heightened by the accuracy and precision with which these devices track the patient's health. Additionally, the home healthcare is outfitted with durable medical equipment to monitor the patient's health and administer first care based on that status, home healthcare held the largest segment share in 2022. The most comprehensive care that can be delivered outside of a hospital environment is said to be found in nursing homes. Home healthcare not only provide basic care but also custodial care, which includes expert care like washing, dressing, and meal preparation. Due to the growing number of these businesses throughout the world, the market is predicted to grow at a profitable rate over the projected period.
The third fastest growing segment in the durable medical equipment industry is research centers. Research center play a role in the DME market, as manufacturers invest in innovation and new product development to improve the functionality, safety, and efficacy of their products. For instance, ongoing R&D in the DME industry has led to the creation of new and more advanced products, such as smart prosthetics, wearable medical devices, and remote patient monitoring systems.
Figure 1: GLOBAL DURABLE MEDICAL EQUIPMENT SHARE BY End-User 2023-2032 (USD Billion)
Source: Secondary Research, Primary Research, MRFR Database and Analyst Review
By Region, the study provides the market insights into North America, Europe, Asia-Pacific and Rest of the World. North America held the largest market share with 34.9%. The United States has quickly embraced new technology, which has increased its market share. The presence of top manufacturers and the rapid uptake of cutting-edge products are expected to accelerate the region's growth. To win a substantial market share, the area is constantly creating high-tech, low-cost medical gadgets for patients. In addition, the growth of the geriatric population and the expansion of hospitals are contributing factors to the expansion of the regional market.
Further, the major countries studied in the market report are: The U.S, Canada, Germany, France, UK, Italy, Spain, China, Japan, India, Australia, South Korea, and Brazil.
Figure 2: GLOBAL DURABLE MEDICAL EQUIPMENT SHARE BY REGION 2022 (%)
Source: Secondary Research, Primary Research, MRFR Database and Analyst Review
Asia Pacific durable medical equipment accounts for the second-largest market share due to the rise in the target population base with rising chronic illnesses, the demand for medical equipment by patients, and supporting government efforts, the Asia Pacific is anticipated to see the quickest growth throughout the projection period. Further, the China durable medical equipment held the largest market share, and the India durable medical equipment was the fastest growing market in the Asia Pacific region.
The Europe Durable Medical Equipment Market is expected to grow at the fastest CAGR from 2024 to 2032. This is due to DME market in Europe is expected to continue growing due to several factors, including the aging population, increasing prevalence of chronic diseases, and rising demand for home-based medical devices and equipment. Moreover, Germany durable medical equipment held the largest market share, and the France durable medical equipment was the fastest growing market in the Europe region
For instance, United States durable medical equipment Additionally, according to the Center for Disease Control and Prevention's (CDC) 2021 update, 4 in 10 individuals in the United States had two or more chronic illnesses in 2020, and 6 in 10 persons in the United States had at least one chronic disease. The expenditures of treating heart disease, cancer, chronic lung disease, stroke, Alzheimer's disease, diabetes, and chronic kidney disease would amount to almost USD 4.1 trillion in 2020, according to the same analysis. Players in the industry are also concentrating on the introduction of new goods.
Durable Medical Equipment Key Market Players & Competitive Insights
Major market players are spending a lot of money on R&D to increase their product lines, which will help the durable medical equipment grow even more. Market participants are also taking a range of strategic initiatives to grow their worldwide footprint, with key market developments such as new product launches, contractual agreements, mergers and acquisitions, increased investments, and collaboration with other organizations. Competitors in the durable medical equipment industry must offer cost-effective items to expand and survive in an increasingly competitive and rising market environment.
One of the primary business strategies adopted by manufacturers in the global durable medical equipment industry to benefit clients and expand the market sector is to manufacture locally to reduce operating costs. In recent years, durable medical equipment industry has provided medicine with some of the most significant benefits. The durable medical equipment major player such as Compass Health Brand (US), Medtronic Inc. (Ireland), GF Health Products Inc. (US), and others are working to expand the market demand by investing in research and development activities.
Medtronic Inc. (Ireland) is a global healthcare solutions company committed to improving the lives of people through medical technologies, services, and solutions. With Covidien, the company has accelerated and advanced its ability to create meaningful innovations for hospitals, health systems, and healthcare providers to deliver the best care possible to patients and their families worldwide. In August 2021, The FDA has approved the EvolutTM FX TAVR system, the newest generation of self-expanding transcatheter aortic valve replacement (TAVR) technology from Medtronic plc (NYSE: MDT), the world leader in medical technology.
Also, ASPIRE is a non-profit organization based in the United States that is dedicated to supporting the development and success of early-stage life science companies. The organization provides a range of services, including mentorship, funding, networking opportunities, and educational programs, to help biotech and medtech startups grow and succeed. In January 2022, In Australia, ASPIRE introduced the ASPIRE SOCIALITE WHEELCHAIR. A wide spectrum of users can utilize the Aspire Socialite, an ultra-lightweight transport chair with a safe operating load capability of 115kg.
Key Companies in the durable medical equipment includes
Durable Medical Equipment Industry Developments
January 2022: The Dexcom G7 Continuous Glucose Monitoring (CGM) System for persons with diabetes in Europe, aged two and older, including pregnant women, has been given the CE Mark (Conformité Européenne) by DexCom Inc.
August 2021: Siemens Healthineers has announced the local production of molecular testing kits, including COVID-19 testing (IMDX SARS-CoV2 Multiplex RTPCR), at its cutting-edge facility in Vadodara, Gujarat.
North America
Europe
Asia-Pacific
Rest of the World
Middle East
Africa
Latin America
| Report Attribute/Metric | Details |
| Market Size 2023 | USD 209.07 billion |
| Market Size 2024 | USD 218.90 billion |
| Market Size 2032 | USD 304 billion |
| Compound Annual Growth Rate (CAGR) | 4.19% (2024-2032) |
| Base Year | 2023 |
| Market Forecast Period | 2024-2032 |
| Historical Data | 2018 - 2021 |
| Market Forecast Units | Value (USD Billion) |
| Report Coverage | Revenue Forecast, Market Competitive Landscape, Growth Factors, and Trends |
| Segments Covered | Device Type, End Users, and Region |
| Geographies Covered | North America, Europe, Asia Pacific, and Rest of the World |
| Countries Covered | The U.S, Canada, Germany, France, UK, Italy, Spain, China, Japan, India, Australia, South Korea, and Brazil |
| Key Companies Profiled | Compass Health Brand (US), Getinge AB (US), GF Health Products Inc. (US), Invacare Corporation (US), Medtronic Inc. (Ireland), Sunrise Medical (UK), Koninklijke Philips NV (UK). |
| Key Market Opportunities | Growing technological innovation in the medical devices industry |
| Key Market Dynamics | Rising growing geriatric patient population Rising demand for medical equipment |
Frequently Asked Questions (FAQ) :
The global durable medical equipment size was valued at USD 209.07 Billion in 2023.
The global market is projected to grow at a CAGR of 4.19% during the forecast period, 2024-2032.
North America had the largest share in the global market
The key players in the market are Compass Health Brand (US), Getinge AB (US), GF Health Products Inc. (US), Invacare Corporation (US), Medtronic Inc. (Ireland).
The Monitoring and Therapeutic Devices durable medical equipment category dominated the market in 2023.
The Hospital/Clinic had the largest share in the global market.
Assistant Manager He holds an experience of about 7+ years in market research and business consulting, working under the spectrum of life sciences and healthcare domains. rahul conceptualizes and implements a scalable business strategy and provides strategic leadership to the clients. his expertise lies in market estimation, competitive intelligence, pipeline analysis, customer assessment, etc. in addition to the above, his other responsibility includes strategic tracking of high growth markets & advising clients on the potential areas of focus they could direct their business initiatives
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