Durable Medical Equipment Market size was valued at USD 185.35 Billion in 2022 and is projected to reach USD 292.48 Billion by 2030, growing at a CAGR of 5.30% during the forecast period. This growth can be attributed to several factors, including an increasing geriatric population, rising prevalence of chronic diseases, and technological advancements in medical equipment.

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The market is also being driven by the growing demand for home healthcare services, which has led to an increase in the use of durable medical equipment by patients in their homes. Additionally, the COVID-19 pandemic has further accelerated the adoption of home healthcare services, as many patients have been reluctant to visit hospitals and clinics due to the risk of infection.

Market Dynamics

Increasing Geriatric Population: The world's population is aging rapidly, with the number of people aged 65 and over projected to double by 2050. This aging population is more susceptible to chronic diseases and conditions, which require long-term medical care and support. As a result, the demand for durable medical equipment is expected to increase significantly.

Rising Prevalence of Chronic Diseases: Chronic diseases, such as diabetes, cardiovascular diseases, and respiratory diseases, are becoming more prevalent globally. These conditions require ongoing medical care and support, including the use of durable medical equipment. As the prevalence of chronic diseases continues to rise, the demand for durable medical equipment is expected to increase.

High Cost: Durable medical equipment can be expensive, especially for patients who do not have insurance coverage. The high cost may deter some patients from purchasing or renting the equipment, leading to reduced demand.

Limited Reimbursement Policies: In some countries, the reimbursement policies for durable medical equipment are limited, which may limit the accessibility of the equipment for patients. This can also affect the profitability of manufacturers and distributors, as they may not receive adequate compensation for their products.

Supply Chain Disruptions: The COVID-19 pandemic has highlighted the vulnerability of global supply chains to disruptions. The durable medical equipment market may face similar disruptions due to factors such as natural disasters, trade restrictions, or geopolitical tensions, which could affect the availability and affordability of the equipment.

Competition from Alternative Healthcare Models: The growing trend towards alternative healthcare models, such as telemedicine and retail clinics, may pose a challenge to the durable medical equipment market. These alternative models may provide patients with more convenient and cost-effective options for accessing healthcare, reducing the demand for durable medical equipment.

Emerging Markets: The durable medical equipment market is expected to experience significant growth in emerging markets, driven by factors such as increasing healthcare spending, improving healthcare infrastructure, and rising awareness about the importance of medical equipment. These markets offer significant growth potential for manufacturers and distributors, especially those who are able to provide cost-effective and high-quality products.

Technological Innovation: Advances in technology, such as artificial intelligence, machine learning, and Internet of Things (IoT), are creating new opportunities for the durable medical equipment market. These technologies can be used to develop more sophisticated and effective medical devices, improving patient outcomes and reducing healthcare costs.

Medical Furniture segment includes equipment such as hospital beds, patient lifts, and examination tables, which are used to support patients during medical procedures. This segment is expected to grow at a significant rate due to the increasing demand for home healthcare services.

Monitoring and Therapeutic Devices segment includes equipment such as blood glucose monitors, respiratory therapy devices, and dialysis machines, which are used to monitor and manage a variety of medical conditions. This segment is expected to grow at a significant rate due to the increasing prevalence of chronic diseases.

Regional Analysis

North America is currently the largest market for durable medical equipment, followed by Europe and Asia Pacific. Key players in the market include Medtronic, Inc., Hill-Rom Holdings, Inc., Invacare Corporation, Stryker Corporation, and Sunrise Medical (US) LLC.

Asia-Pacific region is expected to experience significant growth in the coming years, driven by factors such as the increasing healthcare spending, improving healthcare infrastructure, and rising awareness about the importance of medical equipment.

Latin America region is expected to experience moderate growth in the coming years, driven by factors such as the increasing prevalence of chronic diseases, a growing elderly population, and government initiatives to improve healthcare infrastructure.

Middle East and Africa region is expected to experience moderate growth in the coming years, driven by factors such as the increasing healthcare spending, improving healthcare infrastructure, and rising awareness about the importance of medical equipment.

Competitive Analysis

In March 2021, Hill-Rom Holdings, Inc. announced that it had entered into a definitive agreement to be acquired by Baxter International Inc. for approximately $10.5 billion. The acquisition is expected to strengthen Baxter's position in the medical technology market.

In January 2021, Drive DeVilbiss Healthcare announced that it had acquired Sidhil Group Limited, a UK-based manufacturer of hospital and long-term care beds and other medical equipment. The acquisition is expected to expand Drive DeVilbiss Healthcare's product portfolio and geographic reach.

In December 2020, Stryker Corporation announced that it had acquired OrthoSensor, Inc., a company that develops sensor-assisted technologies for orthopedic surgery. The acquisition is expected to enhance Stryker's position in the orthopedic market.

In November 2020, Invacare Corporation announced that it had completed the sale of its UK and Ireland-based mobility and seating business to the Sunrise Medical Group. The sale is expected to help Invacare focus on its core medical device business.

In October 2020, Hill-Rom Holdings, Inc. announced that it had acquired contact-free continuous monitoring technology from EarlySense Ltd. The technology is expected to enhance Hill-Rom's patient monitoring solutions.

Segmentation Analysis of The Global Durable Medical Equipment Market 2022-2030

The report forecasts revenue growth at global, regional, and country matrics and analyzes the latest industry trends in each of the sub-segments ranging from 2016-2030. For this, CDI has segmented the global Durable Medical Equipment market report based on capacity, vehicle, application, and propulsion type along with regional analysis.

Product Outlook (Revenue, USD Million; 2018 - 2030)

• Personal Mobility Devices
• Wheelchairs
• Scooters
• Walker And Rollators
• Cranes And Crutches
• Door Openers
• Other Devices

Bathroom Safety Devices And Medical Furniture

• Commodes And Toilets
• Mattress & Bedding Devices
• Monitoring And Therapeutic Devices
• Blood Glucose Monitors
• Continuous Passive Motion (CPM)
• Infusion Pumps Market
• Nebulizers
• Oxygen Equipment

Continuous Positive Airway Pressure (CPAP)

• Suction Pumps
• Traction Equipment
• Others Equipment

End-use Outlook (Revenue, USD Million; 2018 - 2030)

• Hospitals
• Nursing Homes
• Home Healthcare
• Other End-user

Regional Outlook (Revenue, USD Million, 2017 - 2030)

• North America
• US
• Canada
• Mexico
• Rest of North America
• Europe
  • Germany
  • France
  • Italy
  • Spain
  • UK
  • Nordic Countries
    • Denmark
    • Finland
    • Iceland
    • Sweden
    • Norway
  • Benelux Union
    • Belgium
    • The Netherlands
    • Luxembourg
  • Rest of Europe
• Asia-Pacific
  • Japan
  • China
  • India
  • Australia
  • South Korea
  • Southeast Asia
    • Indonesia
    • Thailand
    • Malaysia
    • Singapore
    • Rest of Southeast Asia
• Rest of Asia-Pacific
• The Middle East & Africa
• Saudi Arabia
• UAE
• Egypt
• South Africa
• Rest of the Middle East & Africa
• Latin America
• Brazil
• Argentina
• Rest of Latin America