Durable Medical Equipment Market Size, Share and Growth Analysis (By Product: Personal Mobility Devices, Monitoring and Therapeutic Devices, Bathroom Safety Devices, Medical Furniture, Incontinent Pads, Breast Pumps, Catheters, Consumables and Accessories, Others; By End Use: Hospitals, Home Healthcare, Ambulatory Surgical Centers, Others) - Global Industry Analysis, Trends, Regional Outlook, and Forecast 2023 - 2032
The durable medical equipment market was valued at USD 184 billion in 2022 and is expected to hit around USD 321.81 billion by 2032 with a CAGR of 5.8% during the forecast period 2023 to 2032.
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The U.S. durable medical equipment market size was valued at USD 37.35 billion in 2022 and is estimated to reach around USD 65.95 billion by 2032, growing at a CAGR of 5.90% from 2023 to 2032.
North America leads the market in durable medical equipment. The U.S. is the largest contributor to the revenue of the North American market. The primary factors for the largest growth of the durable medical equipment market in the North American market is the rise in elderly population and the rapid growthof chronic disease among the people of North America. Furthermore, the major market players in North America are continuously innovating new products for the wellbeing of the patients. Also, the unexpected emergence of COVID-19 pandemic outbreak has generated huge demand for the durable medical equipment in the market.
Asia-Pacific region is also expected to contribute significantly towards the market share of durable medical equipment owing to the rapid increase in chronic diseases such as diabetics, hypertension, high blood pressures and many others especially in the developing countries such as in China, India and Japan. Also, the increase in the disposable income of the customers and the desire to avail medical facilities at home has fostered the growth of the durable medical equipment market.
The surge in demand for the durable medical equipment’s to be used residentially is the primary factor that is expected to drive the growth of the Durable Medical Equipment Market. Furthermore, the increasing cardiovascular disease across the globe where constant body monitoring is required by the patients is anticipated to fuel the growth of the Durable Medical Equipment Market.
During the COVID-19 outbreak, the demand for the Durable Medical Equipment’s increased in the local hospitals and the healthcare facilities. To meet this demand the manufacturers of the Durable medical equipment’s fastened the production process for these equipment’s and this attribute is expected to boost the growth of the Durable Medical Equipment Market. Additionally, the surge in chronic diseases such as cancer, diabetics, cardiac disorders, neurological conditions and others across the world is yet another factor that is anticipated to fuel the growth of the Durable Medical Equipment Market.
With rapid technological developments, the Durable medical equipment manufacturing companies are innovating new equipment’s that can accurately measure different body parameters. This factor is expected to drive the growth of the Durable Medical Equipment Market. Furthermore, increasing demand for therapeutic and monitoring devices across the globe is expected to boost the growth of the Durable Medical Equipment Market.
The surge in older population across the globe is a major factor that is fueling the growth of the Durable Medical Equipment Market. The older generation people usually suffer from chronic diseases that need constant monitoring of their health condition and this boost the demand for the Durable Medical Equipment’s in the Market. Also, the development of technologically advanced durable medical equipment’s such as wheelchairs, crutches, ventilators, nebulizers, oxygen monitors and many othersthat provides comfort to the patients is anticipated to drive the growth of the Durable Medical Equipment Market.
Report Highlights | Details |
Market Size in 2023 | USD 193.75 Billion |
Market Size by 2032 | USD 321.81 Billion |
Growth Rate from 2023 to 2032 | CAGR of 5.8% |
Base Year | 2022 |
Forecast Period | 2023 to 2032 |
Segments Covered | Product, End User |
Regional Scope | North America, APAC, Europe, Latin America, MEAN, Rest of the World |
Companies Mentioned | ArjoHuntleigh, Becton, Dickinson and Company, General Electric Company, GF Health Products Inc., Hill-Rom Services Inc., Invacare Corporation, Koninklijke Philips NV, Medical Device Depot Inc., Medline Industries Inc., Medtronic PLC |
Based on Product, the durable medical equipment Market is divided into personal mobility devices, monitoring and therapeutic devices, bathroom safety devices, medical furniture, incontinent pads, breast pumps, catheters, consumables and accessories and others. The monitoring and therapeutic devices sector will lead the durable medical equipment market with highest revenue share during the forecast period owing to the rapid increase of chronic disease among the people all over the world that requires long term treatments. Additionally, the preference of patients to be treated at home is estimated to drive the growth of the durable medical equipment market.
The personal mobility devices such as wheelchair, scooter, crutches, canes and others is also expected to experience significant growth in the upcoming years due to the rapid increase in geriatric population across the world. The increase in elderly population will generate more demand for the mobility products and therefore will contribute significantly towards the growth of the durable medical equipment market.
On the basis on end-use, the market is categorized into hospitals, home healthcare, ambulatory surgical centers and others. The durable medical equipment used in the hospital and other healthcare center holds a significant share in the end use segment. The accuracy and precision with which these equipment’s monitor the patient’s health condition amplifies the demand for the need of durable medical equipment in the market. Also, the ambulance is equipped with durable medical equipment in order to monitor the patient health condition and to provide preliminary treatment based on the health condition of the patient.
During the COVID-19 pandemic outbreak many people preferred to monitor their health condition at home and this factor increased the demand of the durable medical equipment in the market.
The global Durable Medical Equipment Market is characterized by the presence of various small and big players. The major market player includes ArjoHuntleigh, Becton, Dickinson and Company, General Electric Company, GF Health Products Inc., Hill-Rom Services Inc., Invacare Corporation, Koninklijke Philips NV, Medical Device Depot Inc., Medline Industries Inc., Medtronic PLC, Omron Corporation, Siemens Healthineers AG (Siemens AG) and Stryker Corporation. As the market is competitive in nature, the players are indulged in rapid adoption of advanced technologies to improve the healthcare facility and in raising their competitive share by means of strategic initiatives like mergers, new product and acquisitions.
Segments Covered in the Report
By Product
By End-use
By Geography
Chapter 1. Introduction
1.1. Research Objective
1.2. Scope of the Study
1.3. Definition
Chapter 2. Research Methodology
2.1. Research Approach
2.2. Data Sources
2.3. Assumptions & Limitations
Chapter 3. Executive Summary
3.1. Market Snapshot
Chapter 4. Market Variables and Scope
4.1. Introduction
4.2. Market Classification and Scope
4.3. Industry Value Chain Analysis
4.3.1. Raw Material Procurement Analysis
4.3.2. Sales and Distribution Channel Analysis
4.3.3. Downstream Buyer Analysis
Chapter 5. Market Dynamics Analysis and Trends
5.1. Market Dynamics
5.1.1. Market Drivers
5.1.2. Market Restraints
5.1.3. Market Opportunities
5.2. Porter’s Five Forces Analysis
5.2.1. Bargaining power of suppliers
5.2.2. Bargaining power of buyers
5.2.3. Threat of substitute
5.2.4. Threat of new entrants
5.2.5. Degree of competition
Chapter 6. Competitive Landscape
6.1.1. Company Market Share/Positioning Analysis
6.1.2. Key Strategies Adopted by Players
6.1.3. Vendor Landscape
6.1.3.1. List of Suppliers
6.1.3.2. List of Buyers
Chapter 7. Global Durable Medical Equipment Market, By Product
7.1. Durable Medical Equipment Market, by Product Type, 2023-2032
7.1.1. Personal Mobility Devices
7.1.1.1. Market Revenue and Forecast (2021-2032)
7.1.2. Monitoring and Therapeutic Devices
7.1.2.1. Market Revenue and Forecast (2021-2032)
7.1.3. Bathroom Safety Devices
7.1.3.1. Market Revenue and Forecast (2021-2032)
7.1.4. Medical Furniture
7.1.4.1. Market Revenue and Forecast (2021-2032)
7.1.5. Incontinent Pads
7.1.5.1. Market Revenue and Forecast (2021-2032)
7.1.6. Breast Pumps
7.1.6.1. Market Revenue and Forecast (2021-2032)
7.1.7. Catheters
7.1.7.1. Market Revenue and Forecast (2021-2032)
7.1.8. Consumables and Accessories
7.1.8.1. Market Revenue and Forecast (2021-2032)
7.1.9. Others
7.1.9.1. Market Revenue and Forecast (2021-2032)
Chapter 8. Global Durable Medical Equipment Market, By End-use
8.1. Durable Medical Equipment Market, by End-use, 2023-2032
8.1.1. Hospitals
8.1.1.1. Market Revenue and Forecast (2021-2032)
8.1.2. Home Healthcare
8.1.2.1. Market Revenue and Forecast (2021-2032)
8.1.3. Ambulatory Surgical Centers
8.1.3.1. Market Revenue and Forecast (2021-2032)
8.1.4. Others
8.1.4.1. Market Revenue and Forecast (2021-2032)
Chapter 9. Global Durable Medical Equipment Market, Regional Estimates and Trend Forecast
9.1. North America
9.1.1. Market Revenue and Forecast, by Product (2021-2032)
9.1.2. Market Revenue and Forecast, by End-use (2021-2032)
9.1.3. U.S.
9.1.3.1. Market Revenue and Forecast, by Product (2021-2032)
9.1.3.2. Market Revenue and Forecast, by End-use (2021-2032)
9.1.4. Rest of North America
9.1.4.1. Market Revenue and Forecast, by Product (2021-2032)
9.1.4.2. Market Revenue and Forecast, by End-use (2021-2032)
9.2. Europe
9.2.1. Market Revenue and Forecast, by Product (2021-2032)
9.2.2. Market Revenue and Forecast, by End-use (2021-2032)
9.2.3. UK
9.2.3.1. Market Revenue and Forecast, by Product (2021-2032)
9.2.3.2. Market Revenue and Forecast, by End-use (2021-2032)
9.2.4. Germany
9.2.4.1. Market Revenue and Forecast, by Product (2021-2032)
9.2.4.2. Market Revenue and Forecast, by End-use (2021-2032)
9.2.5. France
9.2.5.1. Market Revenue and Forecast, by Product (2021-2032)
9.2.5.2. Market Revenue and Forecast, by End-use (2021-2032)
9.2.6. Rest of Europe
9.2.6.1. Market Revenue and Forecast, by Product (2021-2032)
9.2.6.2. Market Revenue and Forecast, by End-use (2021-2032)
9.3. APAC
9.3.1. Market Revenue and Forecast, by Product (2021-2032)
9.3.2. Market Revenue and Forecast, by End-use (2021-2032)
9.3.3. India
9.3.3.1. Market Revenue and Forecast, by Product (2021-2032)
9.3.3.2. Market Revenue and Forecast, by End-use (2021-2032)
9.3.4. China
9.3.4.1. Market Revenue and Forecast, by Product (2021-2032)
9.3.4.2. Market Revenue and Forecast, by End-use (2021-2032)
9.3.5. Japan
9.3.5.1. Market Revenue and Forecast, by Product (2021-2032)
9.3.5.2. Market Revenue and Forecast, by End-use (2021-2032)
9.3.6. Rest of APAC
9.3.6.1. Market Revenue and Forecast, by Product (2021-2032)
9.3.6.2. Market Revenue and Forecast, by End-use (2021-2032)
9.4. MEA
9.4.1. Market Revenue and Forecast, by Product (2021-2032)
9.4.2. Market Revenue and Forecast, by End-use (2021-2032)
9.4.3. GCC
9.4.3.1. Market Revenue and Forecast, by Product (2021-2032)
9.4.3.2. Market Revenue and Forecast, by End-use (2021-2032)
9.4.4. North Africa
9.4.4.1. Market Revenue and Forecast, by Product (2021-2032)
9.4.4.2. Market Revenue and Forecast, by End-use (2021-2032)
9.4.5. South Africa
9.4.5.1. Market Revenue and Forecast, by Product (2021-2032)
9.4.5.2. Market Revenue and Forecast, by End-use (2021-2032)
9.4.6. Rest of MEA
9.4.6.1. Market Revenue and Forecast, by Product (2021-2032)
9.4.6.2. Market Revenue and Forecast, by End-use (2021-2032)
9.5. Latin America
9.5.1. Market Revenue and Forecast, by Product (2021-2032)
9.5.2. Market Revenue and Forecast, by End-use (2021-2032)
9.5.3. Brazil
9.5.3.1. Market Revenue and Forecast, by Product (2021-2032)
9.5.3.2. Market Revenue and Forecast, by End-use (2021-2032)
9.5.4. Rest of LATAM
9.5.4.1. Market Revenue and Forecast, by Product (2021-2032)
9.5.4.2. Market Revenue and Forecast, by End-use (2021-2032)
Chapter 10. Company Profiles
10.1. ArjoHuntleigh
10.1.1. Company Overview
10.1.2. Product Offerings
10.1.3. Financial Performance
10.1.4. Recent Initiatives
10.2. Becton
10.2.1. Company Overview
10.2.2. Product Offerings
10.2.3. Financial Performance
10.2.4. Recent Initiatives
10.3. Dickinson and Company
10.3.1. Company Overview
10.3.2. Product Offerings
10.3.3. Financial Performance
10.3.4. Recent Initiatives
10.4. General Electric Company
10.4.1. Company Overview
10.4.2. Product Offerings
10.4.3. Financial Performance
10.4.4. Recent Initiatives
10.5. GF Health Products Inc.
10.5.1. Company Overview
10.5.2. Product Offerings
10.5.3. Financial Performance
10.5.4. Recent Initiatives
10.6. Hill-Rom Services Inc.
10.6.1. Company Overview
10.6.2. Product Offerings
10.6.3. Financial Performance
10.6.4. Recent Initiatives
10.7. Invacare Corporation
10.7.1. Company Overview
10.7.2. Product Offerings
10.7.3. Financial Performance
10.7.4. Recent Initiatives
10.8. Koninklijke Philips NV
10.8.1. Company Overview
10.8.2. Product Offerings
10.8.3. Financial Performance
10.8.4. Recent Initiatives
10.9. Medical Device Depot Inc.
10.9.1. Company Overview
10.9.2. Product Offerings
10.9.3. Financial Performance
10.9.4. Recent Initiatives
10.10. Medline Industries Inc.
10.10.1. Company Overview
10.10.2. Product Offerings
10.10.3. Financial Performance
10.10.4. Recent Initiatives
Chapter 11. Research Methodology
11.1. Primary Research
11.2. Secondary Research
11.3. Assumptions
Chapter 12. Appendix
12.1. About Us
12.2. Glossary of Terms
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