US Durable Medical Equipment Market Size
| Study Period | 2019 - 2029 |
| Base Year For Estimation | 2023 |
| Forecast Data Period | 2024 - 2029 |
| Historical Data Period | 2019 - 2022 |
| CAGR | 5.95 % |
| Market Concentration | Medium |
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?
US Durable Medical Equipment Market Analysis
The United States Durable Equipment Market is expected to register a CAGR of 5.95% during the forecast period, 2022-2027.
As a result of the COVID-19 public health emergency, there is a higher demand for durable medical equipment to extend health care capacity in local hospitals and health care systems through temporary expansion sites, as well as to ensure adequate and effective patient monitoring. Manufacturers from a range of industries that aren't normally linked with medical device production are seeking resources to produce and sell these products to the healthcare community to satisfy this demand. For instance, according to the Office of the Assistant Secretary for Preparedness and Response, since the COVID-19 pandemic began, the United States government's investments in key domestic manufacturing capabilities have significantly improved the United States posture, both in terms of quantities of Personal Protective Equipment (PPE) and Durable Medical Equipment (DME) stored in domestic industrial manufacturing capacities and in having reviewed nearly 13,500 applications for medical product approval, clearance, or authorization between March 2020 and September 2021. This has led to increased adoption of DMEs during the pandemic, driving market growth.
Further, the increasing focus on home care settings for the management of medical conditions and illnesses in patient populations, the rise in prevalence of cardiovascular and diabetes diseases, and the rising awareness about elevating patients' comfort are the key factors driving the market for durable medical equipment (DME) in the United States. For instance, according to the Center for Disease Control and Prevention (CDC) data updated in February 2021, about 659,000 people in the United States die from heart disease each year, accounting for 1 in every 4 deaths. In addition, more than 34 million Americans have diabetes, which is nearly 11% of the United States population, according to the Centers for Disease Control and Prevention (CDC), 2020. Such a high prevalence of diabetes and cardiovascular diseases will lead to increased adoption of monitoring and therapeutic devices, thereby driving market growth in the United States.
In addition, rising initiatives such as the formation of alliances among patients, prescribers, and suppliers in the durable medical equipment industry will lead to increased adoption of durable medical equipment, driving the market's growth. For instance, in September 2021, DMEscripts LLC, an independent e-prescribe firm devoted to improving the patient, prescriber, and provider experience by removing inefficiencies and lowering paperwork, was founded by industry leaders in the United States. DMEscripts intends to significantly enhance the present order-to-delivery process by enabling and speeding up the general deployment of a DME electronic ordering application. Moreover, in March 2021, Vanderbilt University Medical Center launched durable medical equipment (DME) company, Carefluent Connect, LLC, at Vanderbilt Health One Hundred Oaks. Furthermore, the company is planning to open a combined warehouse and second retail location in nearby Mount Juliet, Tennessee in the near future. Such an increase in the commercial availability of DMEs will further drive the market growth in the United States over the coming years. Therefore, owing to the abovementioned factors, the market is expected to grow over the forecast period.
However, stringent regulatory requirements related to medical supplies and higher costs are expected to hamper the market's growth.
US Durable Medical Equipment Market Trends
This section covers the major market trends shaping the US Durable Medical Equipment Market according to our research experts:
The Vital Sign Monitor Segment is Expected to Hold a Major Share During the Forecast Period.
By device type, the vital sign monitor segment is expected to hold a major share in the market and is expected to do the same over the forecast period.
The vital signs of hospitalized patients are evaluated to assess the patient's clinical state at an early stage and to detect clinical deterioration. Blood pressure (BP), heart rate (HR), respiratory rate (RR), oxygen saturation (SpO 2), and core temperature are among the vital indicators that are typically monitored. Consistent vital sign monitoring is necessary for the early diagnosis of clinical deterioration in hospitalized patients. It is mostly monitored by healthcare professionals, who measure and document all patients' key vital signs two or three times each day to check their status. Owing to the large number of patients admitted to hospitals due to several illnesses as a result of the recent COVID-19 pandemic, vital sign monitors have become a necessary tool to manage patients within healthcare settings. Thus, the companies are engaged in numerous product launches and approvals of these products, resulting in the segment's growth. For instance, the United States Food and Drug Administration authorized Phillips wearable biosensor "Philips Biosensor BX100," a novel method for vital sign measures to better treat verified and suspected COVID-19 patients in hospitals, in May 2020.
Furthermore, in March 2020, Hillrom, an American corporation, undertook initiatives to provide critical care devices to consumers and caregivers in order to satisfy the ongoing COVID-19 patient demands. The company increased the production of its devices, with the goal of more than doubling capacity in areas such as respiratory health, particularly Life2000, a non-invasive ventilator; ICU and med-surg unit smart beds; and patient monitoring and diagnostics, including the company's Connex and Spot Vital Signs monitors, among others.
Therefore, owing to the abovementioned factors, this segment is expected to drive the segment growth over the forecast period.
US Durable Medical Equipment Industry Overview
The United States durable equipment market is highly competitive owing to the large number of prominent players in the market. The factors such as rising launch of new products in the market, growth in funding for various diseases, surge in acquisitions, collaborations and partnerships among key players are expected to drive this market. Some of the key market players include Masimo, Koninklijke Philips NV, Becton, Dickinson and Company, Medtronic PLC, Pride Mobility, Nihon Kohden Corporation, and Invacare Corporation, among others.
US Durable Medical Equipment Market Leaders
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Masimo
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Medtronic PLC
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Pride Mobility
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Nihon Kohden Corporation
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Koninklijke Philips NV
*Disclaimer: Major Players sorted in no particular order
US Durable Medical Equipment Market News
In March 2022, the United States Food and Drug Administration (FDA) approved Biobeat's wearable remote patient monitoring device to monitor vital signs such as respiratory rate and body temperature in addition to cuffless blood pressure, blood oxygen saturation, and pulse rate.
In February 2022, the United States Food and Drug Administration (FDA) approved Masimo's SedLine brain function monitoring for pediatric patients (1-17 years of age) and the SedLine Pediatric EEG Sensor.
US Durable Medical Equipment Market Report - Table of Contents
1. INTRODUCTION
- 1.1 Study Assumptions and Market Definition
- 1.2 Scope of the Study
2. RESEARCH METHODOLOGY
3. EXECUTIVE SUMMARY
4. MARKET DYNAMICS
- 4.1 Market Overview
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4.2 Market Drivers
- 4.2.1 Increasing Prevalence of Chronic and Lifestyle-related Disorders
- 4.2.2 Technological Advancements
- 4.2.3 Increasing Demand and Funding for Monitoring and Therapeutic Devices
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4.3 Market Restraints
- 4.3.1 Stringent Regulatory Requirements Related to Medical Supplies
- 4.3.2 High cost of DME equipment
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4.4 Porter's Five Force Analysis
- 4.4.1 Threat of New Entrants
- 4.4.2 Bargaining Power of Buyers/Consumers
- 4.4.3 Bargaining Power of Suppliers
- 4.4.4 Threat of Substitute Products
- 4.4.5 Intensity of Competitive Rivalry
5. MARKET SEGMENTATION (Market size in USD million)
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5.1 By Device Type
- 5.1.1 Personal Mobility Devices
- 5.1.1.1 Wheelchair
- 5.1.1.2 Crutch and Cane
- 5.1.1.3 Walker
- 5.1.1.4 Walker
- 5.1.2 Medical Furniture and Bathroom Safety Devices
- 5.1.2.1 Medical Bed and Mattress
- 5.1.2.2 Commode and Toilet
- 5.1.2.3 Other Medical Furniture and Bathroom Safety Devices
- 5.1.3 Monitoring and Therapeutic Devices
- 5.1.3.1 Blood Glucose Monitor
- 5.1.3.2 Oxygen Equipment Oxygen Equipment
- 5.1.3.3 Vital Sign Monitor
- 5.1.3.4 Infusion Pump
- 5.1.3.5 Other Monitoring and Therapeutic Devices
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5.2 By End User
- 5.2.1 Hospital/Clinic
- 5.2.2 Ambulatory Surgical Center
- 5.2.3 Other End Users
6. COMPETITIVE LANDSCAPE
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6.1 Company Profiles
- 6.1.1 Compass Health Brands
- 6.1.2 GE Healthcare
- 6.1.3 GF Health Products Inc.
- 6.1.4 Invacare Corporation
- 6.1.5 Masimo
- 6.1.6 Koninklijke Philips NV
- 6.1.7 Becton, Dickinson and Company
- 6.1.8 Medtronic PLC
- 6.1.9 Pride Mobility
- 6.1.10 Nihon Kohden Corporation
- *List Not Exhaustive
7. MARKET OPPORTUNITIES AND FUTURE TRENDS
US Durable Medical Equipment Industry Segmentation
As per the scope of the report, durable medical equipment (DME) are the devices, and products that serve medical purposes and that can tolerate frequent and/or subsequent usage. The patients now prefer availing post-operative and long-term care at home. Hence, the rising demand for home healthcare services opens possibilities for the DME market players to sell and cross-sell various products. The United States Durable Equipment market is Segmented by Device Type (Personal Mobility Devices, Medical Furniture and Bathroom Safety Devices, and Monitoring and Therapeutic Devices), End-User (Hospital/Clinics, Ambulatory Surgical Center, and Other End Users), and Geography (North America, Europe, Asia-Pacific, Middle-East and Africa, and South America). The report offers the value (in USD million) for the above segments.
US Durable Medical Equipment Market Research FAQs
What is the current United States Durable Medical Equipment Market size?
The United States Durable Medical Equipment Market is projected to register a CAGR of 5.95% during the forecast period (2024-2029)
Who are the key players in United States Durable Medical Equipment Market?
Masimo, Medtronic PLC, Pride Mobility, Nihon Kohden Corporation and Koninklijke Philips NV are the major companies operating in the United States Durable Medical Equipment Market.
What years does this United States Durable Medical Equipment Market cover?
The report covers the United States Durable Medical Equipment Market historical market size for years: 2019, 2020, 2021, 2022 and 2023. The report also forecasts the United States Durable Medical Equipment Market size for years: 2024, 2025, 2026, 2027, 2028 and 2029.
United States Durable Medical Equipment Industry Report
Statistics for the 2024 United States Durable Medical Equipment market share, size and revenue growth rate, created by Mordor Intelligence™ Industry Reports. United States Durable Medical Equipment analysis includes a market forecast outlook to 2029 and historical overview. Get a sample of this industry analysis as a free report PDF download.
