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Durable Medical Equipment Market – By Product (Personal Mobility Devices, Monitoring & Therapeutic Devices, Bathroom Safety Devices, Medical Furniture, Incontinent Pads, Breast Pumps), Payer (Public, Private), End Use – Global Forecast, 2024 – 2032
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Premium Report Details
Base Year: 2023
Companies covered: 15
Tables & Figures: 200
Countries covered: 24
Pages: 130
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Durable Medical Equipment Market Size
Durable Medical Equipment Market size was valued at around USD 236.2 billion in 2023 and is expected to grow at a CAGR of 6.1% from 2024 to 2032. The increasing prevalence of chronic diseases worldwide is a major driver of growth in the durable medical equipment (DME) market.
Chronic conditions such as diabetes, cardiovascular diseases, respiratory disorders, and musculoskeletal issues require long-term management and care, often involving the use of durable medical equipment. For instance, the International Diabetes Federation reported that, as of 2021, approximately 537 million adults aged 20-79 were living with diabetes globally. As the number of individuals with chronic conditions rises, so does the demand for healthcare mobility solutions, including durable medical equipment.
Durable medical equipment (DME) encompasses medical devices and supplies designed for long-term use, typically to manage medical conditions or support daily living activities for individuals with disabilities or chronic illnesses. These items are intended to be reusable and are often prescribed by healthcare providers.
Durable Medical Equipment Market Trends
The growth of the durable medical equipment (DME) market is significantly driven by various technological advancements and ongoing developments. These innovations enhance the functionality, usability, and efficiency of DME, meeting the growing demands for quality healthcare solutions, particularly for chronic disease management and elderly care.
Durable Medical Equipment Market Analysis
By product, the market is categorized into personal mobility devices, monitoring and therapeutic devices, bathroom safety devices, medical furniture, incontinent pads, breast pumps, catheters, consumables and accessories, and other products. The consumables and accessories segment dominated the market with a revenue of around USD 58.4 million in 2023.
By payer, the market is categorized durable medical equipment into public, private, and out-of-pocket. The public segment dominated the market with a revenue share of around 38.3% in 2023.
By end-use, the durable medical equipment market is categorized into hospitals, home healthcare, ambulatory surgical centers, and other end-users. The home healthcare segment dominated the market with a revenue share of around 33.6% 2023.
North America durable medical equipment market accounted for USD 76.4 billion in revenue in 2023 and is predicted to witness substantial market growth over the analysis timeline.
The U.S. durable medical equipment market is anticipated to reach USD 98 billion by 2032, driven by numerous factors.
The durable medical equipment market in UK is expected to experience significant and promising growth from 2024 to 2032.
Japan durable medical equipment market is anticipated to witness lucrative growth between 2024 – 2032.
Durable Medical Equipment Market Share
The durable medical equipment industry is fragmented, with various large multinationals and small to mid-sized companies competing within the market. The development and launch of novel devices with improved efficiency and cost-effectiveness are key strategies for durable medical equipment manufacturers, driving both competition and innovation in the industry. This emphasis on innovation aims to address evolving clinical needs and enhance patient outcomes, positioning companies to gain market share and meet the growing demand for advanced durable medical equipment.
Durable Medical Equipment Market Companies
Some of the eminent market participants operating in the durable medical equipment industry include:
Durable Medical Equipment Industry News:
The durable medical equipment market research report includes an in-depth coverage of the industry with estimates & forecast in terms of revenue in USD Million from 2021 to 2032 for the following segments:
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Market, By Product
Market, By Payer
Market, By End-use
The above information is provided for the following regions and countries: