Market Size of Global Durable Medical Equipment Industry
| Study Period | 2019 - 2029 |
| Market Size (2024) | USD 220.54 Billion |
| Market Size (2029) | USD 287.46 Billion |
| CAGR (2024 - 2029) | 5.44 % |
| Fastest Growing Market | Asia Pacific |
| Largest Market | North America |
Major Players
*Disclaimer: Major Players sorted in no particular order |
Need a report that reflects how COVID-19 has impacted this market and its growth?
Durable Medical Equipment Market Analysis
The Global Durable Medical Equipment Market size is estimated at USD 220.54 billion in 2024, and is expected to reach USD 287.46 billion by 2029, at a CAGR of 5.44% during the forecast period (2024-2029).
The major factors responsible for the high growth of the durable medical equipment market are the increasing prevalence of chronic and lifestyle-related disorders, technological advancements in portability, patient comfort, and utilities, and increasing demand and Funding for monitoring and therapeutic devices.
In addition, the rising focus on home care settings for managing medical conditions and illnesses in patient populations and the increasing awareness about elevating patients’ comfort are the key factors driving the global market for durable medical equipment (DME). According to the key facts updated by the WHO in March 2023, around 1.3 billion people are currently suffering from significant disabilities. This represents 16% of the global population or every 1 in 6 people. Hence, the high prevalence of disability worldwide is projected to drive the demand for personal mobility devices such as wheelchairs, walkers, crutch, and cane, among others, burgeoning the market growth.
Furthermore, the continuous technological advancements by manufacturers of DME are expected to open new opportunities for the studied market. For instance, in April 2023, Australian medical technology pioneer Control Bionics launched an autonomous driving wheelchair module at Deakin University’s new Digital Health Lab. The DROVE module was created with Deakin University’s Applied AI Institute (A2I2). This module can be retrofitted to powered wheelchairs, allowing users to move their chairs autonomously and precisely without a joystick. Moreover, in June 2022, European micro-mobility operator Dott partnered with Omni start-up to launch adapted e-scooters for wheelchair users. Hence, prominent players' rising product developments and partnerships to launch technologically advanced DMEs are projected to drive market growth during the forecast period.
Therefore, the market is expected to project significant growth over the forecast period due to the factors above. However, the high cost, pricing, and reimbursement issues hinder the expansion of the durable medical equipment market.
Durable Medical Equipment Industry Segmentation
As per the report's scope, durable medical equipment (DME) is defined as devices and products that serve medical purposes and can tolerate frequent and subsequent usage. Patients now prefer to avail themselves of post-operative and long-term care at home.
The Durable Medical Equipment Market is Segmented by Device Type, End-User, and Geography. By Device Type, the market is segmented into Personal Mobility Devices, Medical Furniture and Bathroom Safety Devices, and Monitoring and Therapeutic Devices. By End-User, the market is segmented into Hospitals/Clinics, Ambulatory Surgical Centers, and Other End-Users. By Geography, the market is segmented into North America, Europe, Asia-Pacific, Middle East and Africa, and South America. The report also covers the estimated market sizes and trends for 17 countries across major regions globally. The report offers the value (in USD) for the above segments.
| By Device Type | |||||||
| |||||||
| |||||||
|
| By End-User | |
| Hospital/Clinic | |
| Ambulatory Surgical Center | |
| Other End-Users |
| Geography | ||||||||
| ||||||||
| ||||||||
| ||||||||
| ||||||||
|
Global Durable Medical Equipment Market Size Summary
The durable medical equipment (DME) market is poised for significant growth, driven by the increasing demand for medical devices that support patient care in home and hospital settings. The COVID-19 pandemic played a pivotal role in shaping the market dynamics, as it necessitated the rapid expansion of healthcare capacity and the production of essential medical devices. This led to non-traditional manufacturers entering the medical device sector, thereby broadening the market landscape. The rising prevalence of chronic conditions and disabilities, coupled with the growing geriatric population, is expected to further propel the demand for DME. Technological advancements and the introduction of innovative products, such as motorized wheelchairs and wireless hospital beds, are also contributing to the market's expansion. However, challenges such as high costs and reimbursement issues continue to pose obstacles to market growth.
North America holds a dominant position in the durable medical equipment market, with the United States being a major contributor due to its large elderly population and high prevalence of chronic diseases. The region's market growth is supported by increased manufacturing of critical medical devices in response to the COVID-19 pandemic. The competitive landscape is characterized by intense rivalry among key players, including Medtronic, GE Healthcare, and Getinge AB, who are continuously innovating and launching new products to maintain their market share. The vital signs monitor segment, in particular, is expected to experience robust growth, driven by the need for continuous patient monitoring and the development of portable, affordable devices. Overall, the DME market is anticipated to witness steady growth, supported by technological advancements, increasing healthcare demands, and strategic product launches.
Global Durable Medical Equipment Market Size - Table of Contents
-
1. MARKET DYNAMICS
-
1.1 Market Overview
-
1.2 Market Drivers
-
1.2.1 Increasing Prevalence of Chronic and Lifestyle-related Disorders
-
1.2.2 Technological Advancements in Portability, Patient Comfort, and Utilities
-
1.2.3 Increasing Demand and Funding for Monitoring and Therapeutic Devices
-
-
1.3 Market Restraints
-
1.3.1 Stringent Regulatory Requirements Related to Medical Supplies
-
1.3.2 Lack of Skilled Professionals and Shortage of Facilities
-
-
1.4 Industry Attractiveness - Porter's Five Forces Analysis
-
1.4.1 Bargaining Power of Buyers/Consumers
-
1.4.2 Bargaining Power of Suppliers
-
1.4.3 Threat of New Entrants
-
1.4.4 Threat of Substitute Products
-
1.4.5 Intensity of Competitive Rivalry
-
-
-
2. MARKET SEGMENTATION (Market Size by Value - USD)
-
2.1 By Device Type
-
2.1.1 Personal Mobility Devices
-
2.1.1.1 Wheelchair
-
2.1.1.2 Crutch and Cane
-
2.1.1.3 Walker
-
2.1.1.4 Other Personal Mobility Devices
-
-
2.1.2 Medical Furniture and Bathroom Safety Devices
-
2.1.2.1 Medical Bed and Mattress
-
2.1.2.2 Commode and Toilet
-
2.1.2.3 Other Medical Furniture and Bathroom Safety Devices
-
-
2.1.3 Monitoring and Therapeutic Devices
-
2.1.3.1 Blood Glucose Monitor
-
2.1.3.2 Oxygen Equipment
-
2.1.3.3 Vital Sign Monitor
-
2.1.3.4 Infusion Pump
-
2.1.3.5 Other Monitoring and Therapeutic Devices
-
-
-
2.2 By End-User
-
2.2.1 Hospital/Clinic
-
2.2.2 Ambulatory Surgical Center
-
2.2.3 Other End-Users
-
-
2.3 Geography
-
2.3.1 North America
-
2.3.1.1 United States
-
2.3.1.2 Canada
-
2.3.1.3 Mexico
-
-
2.3.2 Europe
-
2.3.2.1 Germany
-
2.3.2.2 United Kingdom
-
2.3.2.3 France
-
2.3.2.4 Italy
-
2.3.2.5 Spain
-
2.3.2.6 Rest of Europe
-
-
2.3.3 Asia-Pacific
-
2.3.3.1 China
-
2.3.3.2 Japan
-
2.3.3.3 India
-
2.3.3.4 Australia
-
2.3.3.5 South Korea
-
2.3.3.6 Rest of Asia-Pacific
-
-
2.3.4 Middle East and Africa
-
2.3.4.1 GCC
-
2.3.4.2 South Africa
-
2.3.4.3 Rest of Middle East and Africa
-
-
2.3.5 South America
-
2.3.5.1 Brazil
-
2.3.5.2 Argentina
-
2.3.5.3 Rest of South America
-
-
-
Global Durable Medical Equipment Market Size FAQs
How big is the Global Durable Medical Equipment Market?
The Global Durable Medical Equipment Market size is expected to reach USD 220.54 billion in 2024 and grow at a CAGR of 5.44% to reach USD 287.46 billion by 2029.
What is the current Global Durable Medical Equipment Market size?
In 2024, the Global Durable Medical Equipment Market size is expected to reach USD 220.54 billion.
