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Add to CartGlobal Durable Medical Equipment (DME) Market Growth, Share, Size, Trends and Forecast (2024 - 2030)
By Product;
Personal Mobility Devices - Wheelchairs, Scooters, Walker and rollators, Cranes and crustches, Door openers and Other devices, Bathroom safety devices and medical furniture - Commodes and toilets and Mattresses & Bedding devices, Monitoring and therapeutic devices - Blood sugar monitors, Continuous passive motion (CPM), Infusion pumps market, Nebulizers, Oxygen equipment, Continuous Positive Airway Pressure (CPAP), Suction pumps, Traction equipment and Other equipment.By End Users;
Hospitals, Nursing Homes, Home Healthcare and Others.By Geography;
North America, Europe, Asia Pacific, Middle East and Africa and Latin America - Report Timeline (2020 - 2030).Introduction
Global Durable Medical Equipment (DME) Market (USD Million), 2020 - 2030
In the year 2023, the Global Durable Medical Equipment (DME) Market was valued at USD 158,756.49 million. The size of this market is expected to increase to USD 251,611.37 million by the year 2030, while growing at a Compounded Annual Growth Rate (CAGR) of 6.8%.
The COVID-19 pandemic had a profound impact on the durable medical equipment (DME) market, with increased demand stemming from the need to expand healthcare capacity and ensure effective patient monitoring. Individuals with chronic conditions or physical disabilities faced challenges in adhering to COVID-19 guidelines due to their reliance on home helpers or caregivers. Consequently, there was a surge in demand for DME to support patient care, including items like hospital beds and stretchers. Manufacturers, including those from non-medical sectors, pivoted to produce essential medical equipment to meet the growing demand, highlighting the market's adaptability and responsiveness to public health emergencies.
The growing focus on home care settings and the rising awareness of enhancing patient comfort are driving factors for the global DME market. With an estimated one billion individuals worldwide experiencing disabilities, there is a significant demand for DME to improve quality of life and facilitate medical care for those with functional challenges. This trend is expected to further boost market growth, as the prevalence of disabilities continues to rise, necessitating greater utilization of DME.
Technological advancements play a crucial role in shaping the trajectory of the DME market. Continuous innovation by manufacturers leads to the development of more advanced and efficient DME solutions, such as motorized wheelchairs and intelligent hospital beds. These advancements not only enhance patient care but also improve workflow efficiencies for healthcare providers, driving market expansion. Additionally, the increasing number of medical device startups and their focus on developing therapeutic and monitoring devices contribute to market growth by introducing new and innovative products to meet evolving healthcare needs.
Despite the promising growth prospects, challenges such as high costs, pricing issues, and reimbursement concerns pose barriers to market expansion. The affordability and accessibility of DME remain critical considerations, particularly in regions with limited healthcare resources and insurance coverage. Addressing these challenges will be essential for unlocking the full potential of the DME market and ensuring equitable access to essential medical equipment for all individuals in need.
Global Durable Medical Equipment (DME) Market Report Snapshot
| Parameters | Description |
|---|---|
| Market | Global Durable Medical Equipment (DME) Market |
| Study Period | 2020 - 2030 |
| Base Year (for Durable Medical Equipment (DME) Market Size Estimates) | 2023 |
| Drivers |
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| Restraints |
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| Opportunities |
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Segment Analysis
This report extensively covers different segments of Global Durable Medical Equipment (DME) Market and provides an in depth analysis (including revenue analysis for both historic and forecast periods) for all the market segments. In this report, the analysis for every market segment is substantiated with relevant data points and, insights that are generated from analysis of these data points (data trends and patterns). Cancer and other diseases like diabetes, rheumatoid arthritis, and multiple sclerosis are becoming more common. This is expected to make boundless assistive technology proud to offer the world's best assistive technology products, service, and support.
North America's durable medical equipment market held maximum revenue share in 2019 and will witness more than 4% CAGR during the analysis period. Rising geriatric population coupled with increasing prevalence of disabilities are the foremost factors driving durable medical equipment business demand in this trends in durable medical equipment region.
Global Durable Medical Equipment (DME) Segment Analysis
In this report, the Global Durable Medical Equipment (DME) Market has been segmented by Product, End Users and Geography.
Global Durable Medical Equipment (DME) Market, Segmentation by Product
The Global Durable Medical Equipment (DME) Market has been segmented by Product into Personal Mobility Devices, Bathroom safety devices and medical furniture and Monitoring and therapeutic devices.
The monitoring and therapeutic devices segment emerged as the market leader, capturing a significant 89.35% share of the total revenue in 2023. This dominance is primarily attributed to the escalating incidence of lifestyle-related diseases, which necessitate continuous vital statistics analysis and monitoring. Furthermore, the surging demand for wireless monitoring devices has propelled the market forward. The increasing adoption of health and fitness monitoring applications and devices globally, including wristwatches, fitness bands, and smart glasses, further contributes to the segment's prominence. These devices offer the capability to monitor vital signs such as heart rate, oxygen levels, and temperature, providing users with critical health insights to proactively manage their well-being and avoid health uncertainties.
The bathroom safety device and medical furniture segment are anticipated to experience significant growth during the analysis period. This growth trajectory is fueled by the rising prevalence of obesity and the increasing number of bariatric surgeries worldwide. The introduction of technologically advanced products, coupled with a focus on supreme patient comfort and portability, is expected to drive growth within this segment. Manufacturers are innovating and developing products that cater to the unique needs of individuals with obesity and those undergoing bariatric procedures, enhancing their mobility, safety, and overall quality of life. As a result, the segment is poised for considerable expansion as it addresses the evolving healthcare needs and preferences of a growing patient population.
Global Durable Medical Equipment (DME) Market, Segmentation by End Users
The Global Durable Medical Equipment (DME) Market has been segmented by End Users into Hospitals, Nursing Homes, Home Healthcare and Others .
The hospitals segment dominated the durable medical equipment (DME) market in 2023, driven by the high volume of patients seeking treatment for chronic diseases worldwide. Hospitals are at the forefront of managing these conditions, offering access to advanced medical technology and a skilled healthcare workforce. Additionally, hospitals are increasingly focusing on initiatives to address issues such as accidental catheter dislodgment, as evidenced by Sanford Health's launch of a clinical study for a device aimed at reducing such incidents. These efforts contribute to the growth of the hospitals segment by enhancing patient care and safety, further solidifying its dominant position in the market. Nursing homes play a crucial role in providing comprehensive care outside of hospital settings. Apart from offering basic medical treatment, nursing homes provide custodial care, including skilled assistance with daily activities such as bathing, dressing, and meal provision. As the number of nursing homes continues to increase globally, driven by the aging population and the rising prevalence of chronic illnesses, this segment is expected to witness significant growth over the forecast period. The emphasis on delivering holistic care in nursing home settings contributes to their attractiveness as a healthcare option, thereby boosting their share in the DME market.
Home healthcare is poised to experience the highest growth rate among the segments over the forecast period. The increasing adoption of remote healthcare services allows patients to receive medical care from the comfort of their homes, resulting in cost savings and convenience. This trend is particularly advantageous for individuals with chronic conditions or mobility limitations who may find it challenging to visit healthcare facilities regularly. The rising demand for home healthcare services underscores the importance of DME in supporting remote patient monitoring and treatment, driving the growth of this segment in the market.
Global Durable Medical Equipment (DME) Market, Segmentation by Geography
In this report, the Global Durable Medical Equipment (DME) Market has been segmented by Geography into five regions; North America, Europe, Asia Pacific, Middle East and Africa and Latin America.
Global Durable Medical Equipment (DME) Market Share (%), by Geographical Region, 2023
North America dominated the durable medical equipment (DME) market in 2023, capturing the highest market share. The rapid adoption of advanced equipment in the United States has played a significant role in driving the region's market share. With the presence of leading manufacturers and a swift uptake of advanced products, North America is poised for further growth. The region continuously focuses on developing cost-efficient and advanced devices to cater to patient needs, further solidifying its position in the market. Factors such as the increasing number of hospitals and the growing geriatric population also contribute to the region's market growth.
The United States presents significant opportunities for market expansion in the DME sector. Strategies focusing on capturing revenue synergies through integration, geographic diversification, channel expansion, and enhanced product utilization are gaining traction. For example, the launch of SpinKids by Numotion in October 2023 targets the pediatric market, showcasing a strategic addition to broaden capabilities and serve a wider customer base. Such initiatives not only drive growth but also foster innovation and improve accessibility to medical equipment for patients in need.
Asia Pacific is expected to witness the fastest growth in the DME market during the forecast period. Factors such as the rising target population base with increasing chronic diseases, the growing need for medical equipment, and supportive government initiatives contribute to the region's growth trajectory. Additionally, economic advancements in countries like China, India, and South Korea, coupled with improvements in healthcare infrastructure, are expected to further propel market expansion in the Asia Pacific region.
Market Trends
This report provides an in depth analysis of various factors that impact the dynamics of Global Durable Medical Equipment (DME) Market. These factors include; Market Drivers, Restraints and Opportunities Analysis.
Drivers, Restraints and Opportunities
Drivers:
- Advancements in Healthcare Technology
- Growing Prevalence of Chronic Diseases
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Government Initiatives and Healthcare Reforms: Government initiatives and healthcare reforms play a crucial role in fostering growth within the durable medical equipment (DME) market by enhancing access to healthcare services and improving patient outcomes. Programs like Medicare and Medicaid in the United States, along with similar initiatives worldwide, provide reimbursement for DME expenses, making essential medical equipment more financially accessible to patients. This reimbursement framework not only alleviates financial burdens for individuals but also incentivizes healthcare providers to prescribe and utilize DME as part of patient care plans.
Government initiatives aimed at promoting home-based care, telehealth, and aging-in-place further stimulate the adoption of DME. As healthcare systems strive to deliver more cost-effective and patient-centered care, there is an increasing emphasis on enabling patients to receive medical services in their own homes whenever possible. DME such as home oxygen therapy equipment, mobility aids, and remote monitoring devices facilitate this shift towards home-based care by empowering patients to manage their health conditions outside of traditional healthcare settings. By supporting and regulating the use of DME through policy frameworks, governments contribute to expanding market reach and improving affordability, thereby driving sustained growth in the DME market.
Restraints:
- Regulatory Compliance and Certification Requirements
- Limited Reimbursement Policies and Insurance Coverage
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Product Complexity and Technological Barriers: The complexity of durable medical equipment (DME) products and technological barriers present significant challenges for market adoption and utilization. Advanced medical devices often incorporate intricate features and functionalities, requiring specialized training for healthcare professionals and patients alike. Healthcare providers must invest time and resources in training staff members to effectively operate and maintain these sophisticated devices, which can lead to delays in adoption and usage.
Technological advancements in DME, such as smart sensors, remote monitoring capabilities, and connectivity features, introduce additional complexities. Issues related to data privacy, cybersecurity, and interoperability must be addressed to ensure the safe and effective use of these devices. Healthcare facilities and providers may encounter challenges in integrating complex DME systems into existing infrastructure and workflows, further complicating adoption efforts. As a result, the full potential of innovative medical technologies may not be realized without addressing these product complexities and technological barriers.
Efforts to streamline product design, enhance user interface accessibility, and provide comprehensive training and support services can help mitigate these challenges. By prioritizing user-friendly designs, interoperability standards, and robust cybersecurity measures, manufacturers and healthcare stakeholders can improve market acceptance and facilitate broader access to advanced DME solutions. Additionally, ongoing education and training programs for healthcare professionals and patients can promote confidence in utilizing complex medical devices, ultimately benefiting patient care outcomes.
Opportunities:
- Market Expansion
- Focus on Aging Population
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Innovation in Home Healthcare: The shift towards home-based healthcare signifies a significant opportunity for innovation within the durable medical equipment (DME) sector. With healthcare delivery models increasingly emphasizing home care and remote monitoring, there arises a crucial need for DME solutions tailored to facilitate effective care delivery outside of traditional healthcare settings. This transition opens doors for the development of a wide range of innovative products and services aimed at enhancing patient outcomes and improving the overall healthcare experience.
Telemedicine equipment, for instance, plays a pivotal role in enabling remote consultations and virtual healthcare delivery. DME companies can innovate in this space by designing user-friendly telemedicine platforms and devices that facilitate seamless communication between patients and healthcare providers. Additionally, the integration of telemedicine capabilities into existing DME products, such as home medical devices and monitoring systems, can further enhance the accessibility and effectiveness of home-based care.
The development of remote patient monitoring devices and portable diagnostic tools represents another area of opportunity for DME companies. These technologies empower patients to actively manage their health conditions from the comfort of their homes while enabling healthcare providers to remotely monitor vital signs, track disease progression, and intervene promptly when necessary. By investing in the innovation of such home healthcare solutions, DME companies can not only meet the evolving needs of patients and healthcare providers but also position themselves as leaders in driving the advancement of home-based healthcare delivery.
Competitive Landscape Analysis
Key players in Global Durable Medical Equipment (DME) Market include
- Invacare Corporaion
- Sunrise Medical
- ArjoHuntleigh
- Hill Rom, Inc
- Stryker Corporation
- Medline Industries, Inc.
- Drive Medical
- GF Health Products Inc
- Carex Health Brands
In this report, the profile of each market player provides following information:
- Company Overview and Product Portfolio
- Key Developments
- Financial Overview
- Strategies
- Company SWOT Analysis
- Introduction
- Research Objectives and Assumptions
- Research Methodology
- Abbreviations
- Market Definition & Study Scope
- Executive Summary
- Market Snapshot, By Product
- Market Snapshot, By End Users
- Market Snapshot, By Region
- Global Durable Medical Equipment (DME) Market Dynamics
- Drivers, Restraints and Opportunities
- Drivers
- Advancements in Healthcare Technology
- Growing Prevalence of Chronic Diseases
- Government Initiatives and Healthcare Reforms
- Restraints
- Regulatory Compliance and Certification Requirements
- Limited Reimbursement Policies and Insurance Coverage
- Product Complexity and Technological Barriers
- Opportunities
- Market Expansion
- Focus on Aging Population
- Innovation in Home Healthcare
- Drivers
- Regulatory Scenario
- Pipeline Analysis/Technological Advancements
- PEST Analysis
- Political Analysis
- Economic Analysis
- Social Analysis
- Technological Analysis
- Porter's Analysis
- Bargaining Power of Suppliers
- Bargaining Power of Buyers
- Threat of Substitutes
- Threat of New Entrants
- Competitive Rivalry
- Drivers, Restraints and Opportunities
- Market Segmentation
- Global Durable Medical Equipment (DME) Market, By Product, 2020 - 2030 (USD Million)
- Personal Mobility Devices
- Wheelchairs
- Scooters
- Walker and rollators
- Cranes and crustches
- Door openers
- Others
- Bathroom safety devices and medical furniture
- Commodes and toilets
- Mattresses & Bedding devices
- Monitoring and therapeutic devices
- Blood sugar monitors
- Continuous passive motion (CPM)
- Infusion pumps market
- Nebulizers
- Oxygen equipment
- Continuous Positive Airway Pressure (CPAP)
- Suction pumps
- Traction equipment
- Others
- Wheelchairs
- Personal Mobility Devices
- Global Durable Medical Equipment (DME) Market, By End Users, 2020 - 2030 (USD Million)
- Hospitals
- Nursing Homes
- Home Healthcare
- Others
- Global Durable Medical Equipment (DME) Market, By Geography, 2020 - 2030 (USD Million)
- North America
- United States
- Canada
- Europe
- Germany
- United Kingdom
- France
- Italy
- Spain
- Nordic
- Benelux
- Rest of Europe
- Asia Pacific
- Japan
- China
- India
- Australia & New Zealand
- South Korea
- ASEAN (Association of South East Asian Countries)
- Rest of Asia Pacific
- Middle East & Africa
- GCC
- Israel
- South Africa
- Rest of Middle East & Africa
- Latin America
- Brazil
- Mexico
- Argentina
- Rest of Latin America
- North America
- Global Durable Medical Equipment (DME) Market, By Product, 2020 - 2030 (USD Million)
- Competitive Landscape
- Company Profiles
- Invacare Corporaion
- Sunrise Medical
- ArjoHuntleigh
- Hill Rom, Inc
- Stryker Corporation
- Medline Industries, Inc.
- Drive Medical
- GF Health Products Inc
- Carex Health Brands
- Company Profiles
- Analyst Views
- Future Outlook of the Market
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