Durable Medical Equipment Market By Product (Monitoring and Therapeutic Devices, Bathroom Safety Devices, Medical Furniture, Personal Mobility Devices), End-User (Healthcare, Nursing Homes, Hospitals) & Region for 2024 2031
Report ID: 144489|No. of Pages: 202
Durable Medical Equipment Market By Product (Monitoring and Therapeutic Devices, Bathroom Safety Devices, Medical Furniture, Personal Mobility Devices), End-User (Healthcare, Nursing Homes, Hospitals) & Region for 2024 2031
Durable Medical Equipment Market Valuation – 2024-2031
The aging population and the rising prevalence of chronic diseases like diabetes, cardiovascular disease, and respiratory infections. As the world’s population ages, there is a greater demand for home healthcare services that rely significantly on DME such as mobility aids, oxygen equipment, and monitoring devices is surpassing USD 195.17 Billion in 2024 and reaching USD 295.02 Billion by 2031.
Furthermore, advances in medical technology have resulted in more sophisticated and portable gadgets, making it easier for patients to manage their health conditions at home. Government policies, such as attractive reimbursement frameworks and investments in healthcare infrastructure, are also driving up the adoption of durable medical equipment, particularly in emerging nations. Furthermore, the COVID-19 epidemic has raised awareness and demand for in-home medical care is expected to grow at a CAGR of about 5.30% from 2024 to 2031.
Durable Medical Equipment Market: Definition/ Overview
Durable medical equipment (DME) is defined as medical devices that are intended for long-term, repetitive use by patients for therapeutic purposes or to improve their quality of life. Mobility aids (wheelchairs, walkers), breathing apparatus (oxygen concentrators), hospital beds, and monitoring systems are among the items on the list. DME is commonly utilized in hospitals, clinics, and, increasingly, in home healthcare settings to help patients with chronic diseases, impairments, or post-surgical recovery. The future scope of DME is expanding as technological improvements increase device portability, smart monitoring capabilities, and patient comfort, fueled by an aging population and rising demand for home-based healthcare options.
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Will Rising Adoption of Medical Technology Drive the Durable Medical Equipment Market?
The durable medical equipment (DME) industry is expanding rapidly, driven by increased adoption of innovative medical technology. According to Verified Market Research, the global DME market was valued at USD 188.0 Billion in 2023 and is predicted to increase at a 5.9% compound annual growth rate (CAGR) between 2024 and 2031. An aging population, increased prevalence of chronic diseases, and technical advances in medical technology all contribute to this growth. In March 2024, Medtronic, a renowned medical technology company, announced the debut of its new AI-powered continuous glucose monitoring system, with the goal of revolutionizing diabetes management and contributing to the growth of the DME market.
In February 2024, The Centers for Medicare and Medicaid Services (CMS) announced a new policy that would increase coverage for home oxygen therapy equipment, possibly benefiting millions of people with respiratory disorders. This change is expected to enhance the demand for respiratory DME. Furthermore, emerging markets are demonstrating tremendous development potential. For instance, in April 2024, the Indian government announced plans to create 100 new medical device parks across the country, with the goal of increasing domestic medical equipment production and decreasing import dependency. These advancements, together with the ongoing digital transformation of healthcare, are projected to boost the DME market in the next years.
Will Rising Reimbursement Issues and Healthcare Policies Hinder the Growth of the Durable Medical Equipment Market?
Rising reimbursement concerns and complex healthcare legislation may impede the growth of the durable medical equipment (DME) industry. Reimbursement issues arise from inconsistent and frequently restrictive policies that differ by country and area, potentially limiting patient access to DME. For example, in some countries, healthcare systems and insurance companies may not fully cover the costs of necessary equipment such as wheelchairs, oxygen concentrators, or home monitoring devices, requiring patients to pay out-of-pocket. This reduces the purchasing power of both consumers and healthcare providers, hence influencing market demand. In the United States, for example, Medicare funding for DME is subject to tight guidelines. Changes in reimbursement rates under competitive bidding procedures have led to reduced supplier participation, limiting the supply of DME devices.
Furthermore, changing healthcare policies can cause uncertainty for DME producers, especially in terms of pricing, distribution, and compliance. Companies struggle to bring products to market efficiently due to regulatory difficulties, such as the requirement to comply with varied standards across countries. The constant adjustment of healthcare legislation, particularly in emerging nations with growing healthcare systems, adds to the uncertainty, making it difficult for businesses to estimate demand and adjust their strategy. These concerns, together with government efforts to lower costs, may reduce profit margins for manufacturers and distributors, reducing innovation and impeding total DME market growth.
Category-Wise Acumens
Will Rising Usage of Personal Mobility Devices Drive the Durable Medical Equipment Market?
The growing use of personal mobility devices is predicted to considerably impact the durable medical equipment (DME) market. Personal mobility aids, such as wheelchairs, scooters, walkers, and canes, are in high demand as the population ages and mobility-related illnesses such as arthritis, osteoporosis, and fall accidents become more common. As more people want freedom and a higher quality of life, particularly in home care settings, these gadgets become increasingly important. The trend toward home healthcare, aided by technical improvements such as lightweight materials and electric-powered mobility equipment, is boosting this need.
In July 2023, the United States government announced an extension of Medicare coverage for personal mobility devices, allowing more people, particularly seniors and those with impairments, to obtain mobility aids at a cheaper price. This policy change is projected to dramatically increase the use of such gadgets. Furthermore, in October 2023, the United Kingdom government started a scheme to boost low-income and older people’s access to mobility devices through grants and subsidies, driving up demand for personal mobility equipment. These advancements are expected to accelerate the expansion of the DME market in the future years.
Meanwhile, the monitoring and therapeutic equipment industry is expanding at a rapid pace as home healthcare becomes more popular and remote patient monitoring technology advances. Blood glucose monitors, oxygen concentrators, and CPAP devices are increasingly being used for chronic illness management, resulting in substantial development in this market as patients prefer home-based care options.
Will Rising Sales through Hospitals Fuel the Durable Medical Equipment Market?
Rising sales through hospitals are predicted to significantly boost the durable medical equipment (DME) market. Hospitals, as important healthcare providers, require a diverse range of durable medical equipment, including monitoring devices, mobility aids, and therapy tools, to assure optimal care for both inpatients and outpatients. The rising number of operations and hospital admissions, as well as the growing frequency of chronic diseases such as cardiovascular disorders, diabetes, and respiratory conditions, have increased the demand for DME in hospitals. This tendency is bolstered by the demand for improved technology to match modern healthcare standards, such as better patient monitoring systems, ICU beds, and mobility aids, all of which contribute to better treatment outcomes and patient comfort.
In September 2023, the Indian government announced a healthcare infrastructure plan aimed at renovating hospitals across the country, including the purchase of innovative durable medical equipment to improve patient care. Furthermore, in June 2023, the United States government passed legislation to enhance financing for hospital equipment upgrades, with a special emphasis on expanding the availability of mobility and monitoring devices in public institutions. These legislative changes are likely to drive additional increase in the hospital sector’s demand for DME, benefiting the entire market.
However, the fastest-growing area is home healthcare, which is being driven by an increased desire for home-based care, particularly among the elderly and those with chronic diseases. The growing trend towards decentralized healthcare, aided by advances in remote monitoring technologies and more reimbursement support for home-based medical equipment, is driving up demand in this market.
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Country/Region-wise
Will Advanced Healthcare Infrastructure in North America Drive the Durable Medical Equipment Market?
The advanced healthcare infrastructure in North America is an important driver of the durable medical equipment (DME) market. In April 2024, ResMed, a leading DME manufacturer, announced the debut of its next-generation CPAP device with sophisticated connection features, demonstrating the region’s dedication to integrate cutting-edge technology into DME products.
In May 2024, the Canadian government announced a USD 500 Million investment plan to modernize healthcare infrastructure, with a large chunk earmarked for medical equipment upgrades in hospitals and long-term care facilities. These improvements, combined with a growing emphasis on value-based care and patient outcomes, are projected to boost the North American DME industry. In February 2024, US health insurance reported a 15% reduction in hospital readmissions among patients utilizing linked DME devices, indicating the potential of advanced medical equipment in improving healthcare delivery and outcomes.
Will Growing Awareness of Home Healthcare Solutions in Asia Pacific Propel the Durable Medical Equipment Market?
The increasing awareness of home healthcare solutions in Asia Pacific is driving the durable medical equipment (DME) industry forward. In March 2024, Philips Healthcare introduced a new line of portable oxygen concentrators intended exclusively for the Asian market, meeting the region’s distinct patient demands. This move demonstrates the growing relevance of home healthcare solutions in the Asia Pacific DME industry.
In April 2024, the Japanese government unveiled a comprehensive plan to assist home-based care, which included DME subsidies and home caregiver training programs. This strategy is expected to dramatically increase the use of home healthcare devices. Similarly, in February 2024, Singapore’s Health Ministry issued rules for telemedicine and remote patient monitoring, supporting the adoption of linked DME devices. These developments are supported by current market trends. For instance, in May 2024, HomeHealth Tech, an Indian DME startup, raised $50 million to extend its rental and subscription-based business for home medical equipment throughout major Asian cities. These business model improvements, together with government assistance and increased consumer awareness, are expected to fuel significant growth in the Asia Pacific DME market.
Competitive Landscape
The competitive landscape of the durable medical equipment (DME) market is characterized by a mix of established companies, regional manufacturers, and new entrants focusing on innovation and cost-effective solutions. Market competition is intensified by advancements in technology, such as the integration of IoT and AI in medical devices, which improve patient monitoring and device efficiency. Regional players often compete through localized distribution networks and pricing strategies, while startups and smaller firms focus on niche segments like home healthcare and mobility aids, catering to the growing demand for in-home medical care. Additionally, regulatory compliance and reimbursement policies significantly influence market dynamics.
Some of the prominent players operating in the durable medical equipment market include:
- Standing Steel Limited
- Carex Health Brands
- GF Health Products,
- Medical Device Depot,
- Medline Industries,
- Stryker Corporation
- Hill-Rom
- Arj Huntleigh
- Sunrise Medical
- Invacare Corporation.
Latest Developments
- In June 2023, ResMed bought Outset Medical to extend its range of DME for renal care, specifically home dialysis equipment. This acquisition is expected to boost ResMed’s position in the home healthcare sector.
- In July 2023, Stryker unveiled a new range of smart patient beds integrated with sensors for real-time patient monitoring in hospitals. These beds are intended to improve patient safety and care, hence enhancing the company’s position in the hospital DME market.
- In September 2023, DeVilbiss introduced an ultra-lightweight, folding wheelchair intended for easy transportation. This innovation is aimed at both individual users and healthcare facilities that seek portable, space-saving mobility solutions.
Report Scope
| REPORT ATTRIBUTES | DETAILS |
|---|---|
| Study Period | 2021-2031 |
| Growth Rate | CAGR of ~5.30% from 2024 to 2031 |
| Base Year for Valuation | 2024 |
| Historical Period | 2021-2023 |
| Forecast Period | 2024-2031 |
| Quantitative Units | Value in USD Billion |
| Report Coverage | Historical and Forecast Revenue Forecast, Historical and Forecast Volume, Growth Factors, Trends, Competitive Landscape, Key Players, Segmentation Analysis |
| Segments Covered |
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| Regions Covered |
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| Key Players | Standing Steel Limited, Carex Health Brands, GF Health Products Inc., Medical Device Depot Inc., Medline Industries Inc., Stryker Corporation, Hill-Rom, Arj Huntleigh, Sunrise Medical, Invacare Corporation. |
| Customization | Report customization along with purchase available upon request |
Durable Medical Equipment Market, By Category
Product:
- Monitoring and Therapeutic Devices
- Bathroom Safety Devices
- Medical Furniture
- Personal Mobility Devices
End-User:
- Healthcare
- Nursing Homes
- Hospitals
Region:
- North America
- Europe
- Asia-Pacific
- Latin America
- Middle East & Africa
Research Methodology of Verified Market Research:
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Reasons to Purchase this Report
• Qualitative and quantitative analysis of the market based on segmentation involving both economic as well as non-economic factors
• Provision of market value (USD Billion) data for each segment and sub-segment
• Indicates the region and segment that is expected to witness the fastest growth as well as to dominate the market
• Analysis by geography highlighting the consumption of the product/service in the region as well as indicating the factors that are affecting the market within each region
• Competitive landscape which incorporates the market ranking of the major players, along with new service/product launches, partnerships, business expansions, and acquisitions in the past five years of companies profiled
• Extensive company profiles comprising of company overview, company insights, product benchmarking, and SWOT analysis for the major market players
• The current as well as the future market outlook of the industry with respect to recent developments which involve growth opportunities and drivers as well as challenges and restraints of both emerging as well as developed regions
• Includes in-depth analysis of the market of various perspectives through Porter’s five forces analysis
• Provides insight into the market through Value Chain
• Market dynamics scenario, along with growth opportunities of the market in the years to come
• 6-month post-sales analyst support
Customization of the Report
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Frequently Asked Questions
1 INTRODUCTION OF GLOBAL DURABLE MEDICAL EQUIPMENT MARKET
1.1 Overview of the Market
1.2 Scope of Report
1.3 Assumptions
2 EXECUTIVE SUMMARY
3 RESEARCH METHODOLOGY OF VERIFIED MARKET RESEARCH
3.1 Data Mining
3.2 Validation
3.3 Primary Interviews
3.4 List of Data Sources
4 GLOBAL DURABLE MEDICAL EQUIPMENT MARKET OUTLOOK
4.1 Overview
4.2 Market Dynamics
4.2.1 Drivers
4.2.2 Restraints
4.2.3 Opportunities
4.3 Porters Five Force Model
4.4 Value Chain Analysis
5 GLOBAL DURABLE MEDICAL EQUIPMENT MARKET, BY PRODUCT
5.1 Overview
5.2 Monitoring and Therapeutic Devices
5.3 Bathroom Safety Devices and Medical Furniture
5.4 Personal Mobility Device
6 GLOBAL DURABLE MEDICAL EQUIPMENT MARKET, BY END-USE
6.1 Overview
6.2 Home Healthcare
6.3 Nursing Homes
6.4 Hospital
6.5 Others
7 GLOBAL DURABLE MEDICAL EQUIPMENT MARKET, BY GEOGRAPHY
7.1 Overview
7.2 North America
7.2.1 U.S.
7.2.2 Canada
7.2.3 Mexico
7.3 Europe
7.3.1 Germany
7.3.2 U.K.
7.3.3 France
7.3.4 Rest of Europe
7.4 Asia Pacific
7.4.1 China
7.4.2 Japan
7.4.3 India
7.4.4 Rest of Asia Pacific
7.5 Rest of the World
7.5.1 Latin America
7.5.2 Middle East and Africa
8 GLOBAL DURABLE MEDICAL EQUIPMENT MARKET COMPETITIVE LANDSCAPE
8.1 Overview
8.2 Company Market Ranking
8.3 Key Development Strategies
9 COMPANY PROFILES
9.1 Standing Steel Limited
9.1.1 Overview
9.1.2 Financial Performance
9.1.3 Product Outlook
9.1.4 Key Developments
9.2 Carex Health Brands
9.2.1 Overview
9.2.2 Financial Performance
9.2.3 Product Outlook
9.2.4 Key Developments
9.3 GF Health Products Inc
9.3.1 Overview
9.3.2 Financial Performance
9.3.3 Product Outlook
9.3.4 Key Developments
9.4 Medical Device Depot Inc
9.4.1 Overview
9.4.2 Financial Performance
9.4.3 Product Outlook
9.4.4 Key Developments
9.5 Medline Industries Inc
9.5.1 Overview
9.5.2 Financial Performance
9.5.3 Product Outlook
9.5.4 Key Developments
9.6 Stryker Corporation
9.6.1 Overview
9.6.2 Financial Performance
9.6.3 Product Outlook
9.6.4 Key Developments
9.7 Hill-ROM
9.7.1 Overview
9.7.2 Financial Performance
9.7.3 Product Outlook
9.7.4 Key Developments
9.8 ArjoHuntleigh
9.8.1 Overview
9.8.2 Financial Performance
9.8.3 Product Outlook
9.8.4 Key Developments
9.9 Sunrise Medical
9.9.1 Overview
9.9.2 Financial Performance
9.9.3 Product Outlook
9.9.4 Key Developments
9.10 Invacare Corporation
9.10.1 Overview
9.10.2 Financial Performance
9.10.3 Product Outlook
9.10.4 Key Developments
10 Appendix
10.1 Related Research
Report Research Methodology
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Exploratory data mining
Market is filled with data. All the data is collected in raw format that undergoes a strict filtering system to ensure that only the required data is left behind. The leftover data is properly validated and its authenticity (of source) is checked before using it further. We also collect and mix the data from our previous market research reports.
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For understanding the entire market landscape, we need to get details about the past and ongoing trends also. To achieve this, we collect data from different members of the market (distributors and suppliers) along with government websites.
Last piece of the ‘market research’ puzzle is done by going through the data collected from questionnaires, journals and surveys. VMR analysts also give emphasis to different industry dynamics such as market drivers, restraints and monetary trends. As a result, the final set of collected data is a combination of different forms of raw statistics. All of this data is carved into usable information by putting it through authentication procedures and by using best in-class cross-validation techniques.
Data Collection Matrix
| Perspective | Primary Research | Secondary Research |
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Econometrics and data visualization model
Our analysts offer market evaluations and forecasts using the industry-first simulation models. They utilize the BI-enabled dashboard to deliver real-time market statistics. With the help of embedded analytics, the clients can get details associated with brand analysis. They can also use the online reporting software to understand the different key performance indicators.
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The collected data includes market dynamics, technology landscape, application development and pricing trends. All of this is fed to the research model which then churns out the relevant data for market study.
Our market research experts offer both short-term (econometric models) and long-term analysis (technology market model) of the market in the same report. This way, the clients can achieve all their goals along with jumping on the emerging opportunities. Technological advancements, new product launches and money flow of the market is compared in different cases to showcase their impacts over the forecasted period.
Analysts use correlation, regression and time series analysis to deliver reliable business insights. Our experienced team of professionals diffuse the technology landscape, regulatory frameworks, economic outlook and business principles to share the details of external factors on the market under investigation.
Different demographics are analyzed individually to give appropriate details about the market. After this, all the region-wise data is joined together to serve the clients with glo-cal perspective. We ensure that all the data is accurate and all the actionable recommendations can be achieved in record time. We work with our clients in every step of the work, from exploring the market to implementing business plans. We largely focus on the following parameters for forecasting about the market under lens:
- Market drivers and restraints, along with their current and expected impact
- Raw material scenario and supply v/s price trends
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- Current capacity and expected capacity additions up to 2027
We assign different weights to the above parameters. This way, we are empowered to quantify their impact on the market’s momentum. Further, it helps us in delivering the evidence related to market growth rates.
Primary validation
The last step of the report making revolves around forecasting of the market. Exhaustive interviews of the industry experts and decision makers of the esteemed organizations are taken to validate the findings of our experts.
The assumptions that are made to obtain the statistics and data elements are cross-checked by interviewing managers over F2F discussions as well as over phone calls.
Different members of the market’s value chain such as suppliers, distributors, vendors and end consumers are also approached to deliver an unbiased market picture. All the interviews are conducted across the globe. There is no language barrier due to our experienced and multi-lingual team of professionals. Interviews have the capability to offer critical insights about the market. Current business scenarios and future market expectations escalate the quality of our five-star rated market research reports. Our highly trained team use the primary research with Key Industry Participants (KIPs) for validating the market forecasts:
- Established market players
- Raw data suppliers
- Network participants such as distributors
- End consumers
The aims of doing primary research are:
- Verifying the collected data in terms of accuracy and reliability.
- To understand the ongoing market trends and to foresee the future market growth patterns.
Industry Analysis Matrix
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