Durable Medical Equipment Market

Durable Medical Equipment Market Outlook (2022-2026)

Global durable medical equipment sales are currently valued at around US$ 207 billion and are predicted to expand at a high-value CAGR of 7% through 2026. As a result, the durable medical equipment (DME) market is expected to reach US$ 271 billion by the end of 2026.

Revenue from the sales of personal mobility devices is expected to reach a market valuation of US$ 33 billion by 2026.

Report Attributes	Details
Durable Medical Equipment Market Size (2022E)	US$ 207 Billion
Forecasted Market Value (2026F)	US$ 271 Billion
Global Market Growth Rate (2022-2026)	7% CAGR
U.S. Market Value (2022)	US$ 78 Billion
China Market Value (2026)	US$ 28 Billion
Key Companies Profiled	Invacare Corporation Sunrise Medical Arjohuntleigh Hill-Rom Stryker Medline Industries, Inc. Medical Device Depot, Inc. GF Health Products Inc. Carex Health Brands Baxter International, Inc. Becton, Dickinson, and Company Joerns Healthcare LLC

Durable Medical Equipment Sales Analysis (2017-2021) Vs. Market Forecasts (2022-2026)

Medical supplies that can sustain repeated usage are said to be durable. A group of medical devices called durable medical equipment is designed to provide patients with day-to-day activities assistance.

Patients can get assistance from durable medical equipment manufacturers in comprehending how it works. According to specified criteria, the majority of durable medical equipment is covered by healthcare insurance.

Monitoring & therapeutic devices, personal mobility devices, bathroom safety devices, medical furniture, incontinent pads, breast pumps, catheters, and consumables & accessories are some of the products of durable medical equipment.

Due to lockdowns imposed by respective governments, the COVID-19 pandemic interrupted the durable medical equipment supply chain. Nebulizers, CPAP machines, and RADs are just a few of the products whose supply chains were disrupted.

Adult incontinence is a recognised health issue, in addition to ageing, other health issues such as posttraumatic stress disorder (PTSD), obesity, and childbirth, which are important contributors to incontinence. Given the emphasis on sustainability and enhancing patient care, reusable incontinence solutions are in high demand.

Currently, personal mobility devices hold 40%-50% market share of assistive equipment for the aged and disabled worldwide. Demand for personal mobility devices is expected to rise among the senior population as a result of the rising number of age-related health issues.

Demand for community home medical equipment has expanded as a result of the development of technology for self-health management to lessen the financial burden on traditional healthcare systems. Chronically ill people utilize home medical equipment to manage their health, accept aid from others in managing their health, or help others.

Rise in the sales of pediatric durable medical equipment has been related to the rising incidence of chronic diseases in the pediatric population, including anaemia, asthma, diphtheria, chickenpox, leukaemia, measles, whooping cough, mumps, tuberculosis, pneumonia, and Lyme disease.

During the projection period, rising prevalence of cancer, cardiac illnesses, neurological diseases, and gynaecological difficulties is likely to fuel the demand for DME.

Expanding at a CAGR of 7%, the global durable medical systems market is projected to reach US$ 271 billion by 2026, says Fact.MR, a market research and competitive intelligence provider.

What Market Trends are Boosting Demand for Durable Medical Equipment?

“Technological Innovations in Durable Medical Equipment Driving Product Sales Growth”

Durable medical equipment manufacturing technological developments will have a beneficial impact on the market expansion. The development of medical technology has made it possible for surgeons to safely diagnose and efficiently treat patients.

Numerous patients' lives have been saved due to ongoing medical advancements, which have also improved their quality of life. The main benefit of implementing new changes in medicine is increased quality of life.

Furthermore, medical innovations such as comfortable scanning equipment and improved monitoring systems are reducing the amount of time patients need to recover, which is fueling the demand durable medical devices.

The market is growing as a result of the integration of medical equipment technologies, including wireless remote monitoring, to fulfil the need for treatments brought on by the rising prevalence of diseases.

“High Usage of Durable Medical Equipment by Senior Population”

The main driver fueling the industry's growth is viewed as the rising older population base around the world. It is predicted that the senior population, defined as those 80 years of age and older, will increase significantly more than the young generation.

• WHO predicts that by 2020, people 60 years of age and older will outnumber youngsters under the age of five. In addition, the percentage of people over 60 will jump from 12% to 22% between 2015 and 2050.

As a result, the expanding geriatric population will strongly support durable medical equipment industry growth during the projection period.

Compared to other age groups, the senior population base is more vulnerable to falls and injuries.

• For instance, WHO estimates that between 28% and 35% of people over 65 experience fall injuries, whereas, this number rises to 32% to 42% for those over 70. Similar to this, the number of fractures and spinal cord injuries caused by falls has significantly increased over the past three decades.

As a result, the senior population uses durable medical equipment for their activities of daily living (ADLs), which is strengthening industry development.

What is Hampering Sales of Durable Medical Devices?

“Less Adoption of Digital Durable Medical Products, Lack of Skilled Personnel, & High Product Cost”

Due to the low usage of software and computer aids among the elderly and disabled population, highly digital durable medical products have seen low acceptance. In emerging nations such as Brazil and India, more than 60% of the population resides in villages. Some of them have no idea what the new cutting-edge products are.

Lack of technical knowledge on selling the proper mobility gadget to the user and educating them regarding its proper use are some barriers in emerging nations that market participants can exploit.

The industry may also be hampered by a lack of adequate training for caregivers to handle patients with technologies and equipment. However, a shortage of qualified workers and the high cost of some equipment may hamper the sales growth of the durable equipment market.

Which Regions Should Durable Medical Equipment Providers Invest In?

“Availability of Advanced Durable Medical Equipment Due to Rapid Adoption of New Technologies in North America”

North America is expected to remain a dominant region in the durable medical equipment market during the next four years. The region currently represents a higher market share due to the rapid adoption of new technology.

The presence of top manufacturers and the rapid uptake of cutting-edge products are expected to accelerate the region's market growth. To win a substantial market share, the region is constantly creating high-tech, low-cost medical gadgets for patients. Furthermore, factors contributing to the regional market growth include the increase in hospitals and the rapidly increasing ageing population.

Due to the rise in the target population base with rising chronic diseases, the need for medical equipment by patients, and supportive respective government initiatives, the Asia Pacific market is anticipated to see the quickest growth throughout the projection period.

Furthermore, the development of the region's market will be aided by economic advancements achieved by nations such as India, China, and South Korea as well as improvements to the regional healthcare infrastructure.

The general public's increased knowledge of this medical condition and their desire and ability to pay for such durable medical products are driving the Europe market for durable medical equipment.

Rising prevalence of geriatrics, neurological illnesses, and the tendency toward home health care is driving up the demand for incontinence pads in the Europe region.

Country-wise Analysis

How is the Market for Personal Mobility Devices Progressing in the U.S.?

“Rising Joint Pain Cases Driving Demand for Personal Mobility Systems”

The market for personal mobility devices in North America is mostly driven by the United States. The widespread usage of personal mobility aids is the consequence of a mix of encouraging government initiatives that lessen the burden of the expensive gadgets' high price as well as growing reimbursement laws.

The need for personal mobility aids has grown in the United States of America as a result of the ageing population, which is more prone to mobility issues such as osteoporosis and rheumatoid arthritis.

How is Demand for Durable Medical Products Evolving in India?

“Rising Awareness of Disposable Incontinence Pads & Easy Online Availability Driving Sales in Urban Areas”

Adult diapers and other incontinence supplies are expensive, and India frequently offers little to no government support or subsidies. India's economy is increasing quickly because of its growing middle class, expanding population, and laws that encourage the market and industry. As a result, urban consumer patterns and habits are changing.

The market for incontinence products in India has been hampered by affordability and disposal difficulties. It has been difficult for the industry to convince people to use disposable products because cloth diapers are still quite popular in rural areas.

However, the rising awareness is increasing the online sales of these products, which is positively impacting a change in pattern in the urban market.

Category-wise Analysis

Why is Demand for Personal Mobility Devices So High?

“Rising Traffic Accidents, Orthopedic Pains, & Technological Advancements Supporting Personal Mobility Device Sales”

The personal mobility devices segment is expected to account for US$ 33 billion by the year 2026.

The global market for personal mobility devices is expanding rapidly, driven by the steadily rising number of people with disabilities and the rising number of trauma and accident cases. The market for personal mobility devices is developing as a result of an ageing world population that is more vulnerable to different chronic conditions that limit mobility.

Focusing on the development of novel and cutting-edge products also contributes to growth. The need for personal mobility devices is anticipated to increase as more people, for example, suffer from arthritis.

The market is further supported by the implementation of programs to help persons with disabilities and the favourable reimbursement situation in nations such as the United States.

Competitive Landscape

There are many significant competitors in the highly competitive global market for durable medical equipment. Due to the aggressive competitive strategies used by the top durable medical equipment companies currently operating in the market for durable medical equipment, there is fierce competition among them.

Competition is getting more intense as a result of the leading durable medical equipment manufacturers focusing on product developments and advancements in DME.

• In Australia, ASPIRE introduced the ASPIRE SOCIALITE WHEELCHAIR in January 2022. Aspire Socialite was an extremely lightweight transport chair with a safe working load limit of 115kg that catered to a wide range of users.
• A first-in-the-nation 'automated real-time hospital bed and resource tracking tool' was offered in the United States in October 2021, thanks to a partnership between GE Healthcare & Apprise Health Insights.

Key Segments in Durable Medical Equipment Industry Research

• By Product :

  • Monitoring & Therapeutic Devices
  • Personal Mobility Devices
  • Bathroom Safety Devices
  • Medical Furniture
  • Incontinent Pads
  • Breast Pumps
  • Catheters
  • Consumables & Accessories
  • Others

• By End User :

  • Hospitals
  • Nursing Homes
  • Home Healthcare
  • Ambulatory Surgical Centers
  • Others

• By Region :

  • North America
  • Latin America
  • Europe
  • East Asia
  • South Asia & Oceania
  • MEA