Durable Medical Equipment Market | Contrive Datum Insights

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.
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This growth can be attributed to several factors, including an increasing geriatric population, rising prevalence of chronic diseases, and technological advancements in medical equipment.

The global durable medical equipment market refers to the market for medical equipment that is designed to withstand repeated use and is intended for long-term use by patients in home settings or healthcare facilities. Examples of durable medical equipment include mobility aids such as wheelchairs and walkers, hospital beds, oxygen equipment, and diabetic supplies.

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.

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.

Market Dynamics

Driving Factors

There are several driving factors behind the growth of the global durable medical equipment market, including:

Technological Advancements: Advances in technology have led to the development of more sophisticated and effective medical equipment. This includes the development of new materials, sensors, and electronics, which have improved the functionality and durability of medical devices. These technological advancements have made durable medical equipment more efficient, reliable, and cost-effective, leading to an increase in demand.

Growing Demand for Home Healthcare Services: There is a growing trend towards providing healthcare services in patients' homes, rather than in hospitals and clinics. This is driven by factors such as increasing healthcare costs, the desire for greater comfort and convenience, and the need to reduce the risk of infection. The demand for durable medical equipment has increased as a result of this trend, as patients require equipment such as home hospital beds, oxygen equipment, and mobility aids in their homes.

COVID-19 Pandemic: The COVID-19 pandemic has had a significant impact on the global healthcare industry, accelerating the adoption of home healthcare services and the use of durable medical equipment. With hospitals and clinics overwhelmed by the pandemic, many patients have been forced to seek medical care at home, leading to a surge in demand for durable medical equipment. The pandemic has also highlighted the importance of having an adequate supply of medical equipment to respond to public health emergencies, further driving the demand for durable medical equipment.

Restraining Factors

There are several factors that may restrain the growth of the global durable medical equipment market, including:

Regulatory Challenges: The development and sale of durable medical equipment is subject to strict regulatory requirements and approvals, which can be time-consuming and costly. The regulatory challenges may hinder the entry of new players into the market, leading to reduced competition and innovation.

Technological Limitations: While technological advancements have contributed to the growth of the durable medical equipment market, there are still limitations to the technology available. For example, some devices may be bulky or heavy, making them difficult for patients to use or transport. Other devices may be complex or require frequent maintenance, which may limit their usefulness for patients.

Environmental Concerns: The production and disposal of durable medical equipment can have environmental impacts, such as the use of non-biodegradable materials and the release of toxic substances. As environmental concerns become increasingly important, manufacturers may face pressure to develop more sustainable products and practices, which could increase their costs and affect profitability.

Challenges Factors

In addition to the restraining factors mentioned earlier, there are several challenges that the global durable medical equipment market may face, including:

Rapid Technological Advancements: While technological advancements have contributed to the growth of the durable medical equipment market, they may also pose a challenge to manufacturers and distributors. Rapid technological advancements may require significant investments in research and development to keep up with competitors, which could increase costs and affect profitability.

Changing Regulations: The regulatory landscape for durable medical equipment is constantly evolving, with new regulations and policies being introduced at the national and international levels. Manufacturers and distributors may face challenges in keeping up with these changes and ensuring compliance, which could affect their ability to market and sell their products.

Limited Access in Developing Countries: In developing countries, access to durable medical equipment may be limited due to factors such as inadequate healthcare infrastructure, limited funding, and a lack of trained healthcare professionals. This may limit the growth potential of the global durable medical equipment market in these regions.

Opportunity Factors

There are several opportunities for the global durable medical equipment market, including:

Home Healthcare Services: The growing trend towards home healthcare services is creating new opportunities for the durable medical equipment market. Patients are increasingly seeking medical care in the comfort of their own homes, which has led to an increase in demand for home medical equipment such as home hospital beds, oxygen equipment, and mobility aids.

Aging Population: The aging population represents a significant opportunity for the durable medical equipment market. As the number of elderly individuals increases, so too does the demand for medical equipment to support their healthcare needs. This includes equipment such as mobility aids, hearing aids, and home healthcare devices.

Public Health Emergencies: Public health emergencies, such as the COVID-19 pandemic, have highlighted the importance of having an adequate supply of medical equipment. Governments and healthcare organizations may increase their investments in medical equipment to ensure preparedness for future emergencies, creating new opportunities for the durable medical equipment market.

Personalization and Customization: The trend towards personalized and customized healthcare is creating new opportunities for the durable medical equipment market. Patients are increasingly seeking medical devices that are tailored to their individual needs and preferences, creating opportunities for manufacturers to develop personalized and customized products.

Segmentation Analysis

Product Outlook

The global durable medical equipment market can be segmented by product type, which includes:

Mobility Devices segment includes devices such as wheelchairs, scooters, walkers, and crutches, which are designed to assist patients with mobility impairments. This is the largest segment of the durable medical equipment market, accounting for a significant portion of the overall revenue.

Personal Mobility Assistance segment includes devices such as stair lifts, elevators, and ramps, which are designed to assist patients with mobility impairments in accessing different levels of a building. This segment is expected to grow at a significant rate due to the increasing demand for accessible infrastructure.

Others segment includes equipment such as ostomy products, infusion pumps, and enteral feeding devices, which are used to manage a variety of medical conditions. This segment is expected to grow at a significant rate due to the increasing demand for home healthcare services.

End Use Outlook

Hospitals and Clinics segment includes hospitals, clinics, and other healthcare facilities that use durable medical equipment to provide medical care to patients. Hospitals and clinics are the largest end-user of durable medical equipment, accounting for a significant portion of the overall revenue.

Home Healthcare segment includes individuals who receive medical care in the comfort of their own homes, either through home healthcare services or by purchasing durable medical equipment for personal use. This segment is expected to grow at a significant rate due to the increasing demand for home healthcare services.

Assisted Living Facilities segment includes nursing homes, assisted living facilities, and other long-term care facilities that use durable medical equipment to support the healthcare needs of their residents. This segment is expected to grow at a significant rate due to the increasing aging population and the rising demand for long-term care services.

Others segment includes rehabilitation centers, academic and research institutes, and government organizations that use durable medical equipment for a variety of purposes. This segment is expected to grow at a moderate rate due to the increasing investments in healthcare infrastructure and research and development activities.

Regional Analysis

North America region is the largest market for durable medical equipment, driven by factors such as the presence of a large elderly population, a well-established healthcare infrastructure, and high healthcare spending.
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Europe region is also a significant market for durable medical equipment, driven by factors such as the increasing prevalence of chronic diseases, an aging population, and government initiatives to improve healthcare infrastructure.

Overall, North America and Europe are the largest markets for durable medical equipment, while the Asia-Pacific region is expected to experience significant growth in the coming years due to the increasing healthcare spending and improving healthcare infrastructure. Latin America and the Middle East and Africa regions are also expected to grow at a moderate rate due to the increasing prevalence of chronic diseases and government initiatives to improve healthcare infrastructure.

Scope Of Report:

The Global Durable Medical Equipment Market has been segmented into:

By Product

• 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

By End-use

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

By Region

• 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

Market Players 

The global durable medical equipment market is highly competitive and fragmented, with numerous players vying for market share. Some of the key companies in the market are:

• Invacare Corporation
• ArjoHuntleigh
• Stryker Corporation
• Hill Rom, Inc.
• Drive Medical
• GF Health Products, Inc.
• Sunrise Medical
• Medline Industries
• Hill Rom, Inc.
• Carex Health Brands, Inc
• Becton, Dickinson and Company
• General Electric Company
• Medtronic PLC
• Compass Health Brands
• Getinge AB
• Resmed Inc.

Invacare is a leading manufacturer of mobility and medical equipment, including power wheelchairs, homecare beds, and respiratory equipment.

Drive DeVilbiss Healthcare is a leading manufacturer of medical equipment, including mobility devices, respiratory equipment, and patient lifts. Hill-Rom is a global medical technology company that offers a wide range of medical equipment, including hospital beds, patient lifts, and monitoring devices. Sunrise Medical is a global manufacturer of mobility devices, including wheelchairs and mobility scooters, as well as other medical equipment such as patient lifts.

Stryker is a global medical technology company that offers a wide range of medical equipment, including hospital beds, patient lifts, and monitoring devices. Medline is a global manufacturer and distributor of medical products, including durable medical equipment, surgical instruments, and personal care products.

Strategic Developments

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.