U.S. Durable Medical Equipment Market Size, Share & Trends Analysis Report By Product Type (Bathroom Safety Devices & Medical Furniture, Monitoring & Therapeutic Devices, Personal Mobility Devices), And Segment Forecasts, 2021 - 2028

Report Overview

The U.S. durable medical equipment market size was valued at USD 52.9 billion in 2020 and is expected to grow at a compound annual growth rate (CAGR) of 5.8% over the forecast period. The market is majorly driven by the rising product demand due to the growing geriatric population that is susceptible to various chronic diseases, such as cancer, diabetes, Cardiovascular Diseases (CVDs), neurological disorders, and mobility disorders. However, the COVID-19 pandemic has disrupted the overall industry. The Durable Medical Equipment (DME) suppliers are facing numerous challenges in serving patients requiring respiratory support and other DME-related services. As per the National Cancer Institute Report 2018, approximately 1.7 million people in the U.S. were diagnosed with cancer.

It is predicted that there will be a 70.0% rise in the new cases of cancer over the next couple of years (about 1.1 million people). The rising prevalence of neurological diseases, such as Alzheimer’s, Parkinson’s, and Epilepsy, is also expected to fuel the product demand. As per a survey carried out by the American Neurological Association in 2017, around 5.3 million people in the U.S. were suffering from Alzheimer’s. In addition, an increase in healthcare spending across the country is expected to boost market growth.

The demographic shifts underlie the projected growth in the U.S. healthcare expenditure from USD 3.5 trillion in 2017 to USD 6.0 trillion in 2027, representing an average annual growth of 5.5%. The anticipated growth in the annual spending for Medicare (7.9%) is projected to contribute significantly to the increase in the national health expenditure over the forecast period. Since its inception, Medicare has accounted for an increasing proportion of the total healthcare expenditure. It provides healthcare benefits to an estimated 60 million older and disabled patients; in 2018, it accounted for 15% of the federal budget.

The presence of such a reimbursement skeleton maintains a steady revenue for the industry. The DME suppliers have encountered interruptions in the supply chain, such as significant delays and order cancellations, as a result of public health and economic emergencies related to the COVID-19 pandemic. The manufacturers and distributors have levied surcharges and passed along hikes in their costs in response to the pandemic. Not only is this hampering the production, but certain companies are also losing their goodwill.

COVID19 impact: A 5.4% decrease in 2020 was observed

This is highlighted in a U.S. Department of Health and Human Services’ Office of Inspector General (OIG) report findings echoed in a recent survey of more than 500 DME companies that stated occurrence of supply chain interruptions for items, such as oxygen equipment (81%), CPAPs and RADs (53%), and nebulizers (49%). Around 74% of suppliers reported delays of two months or more for such equipment while 67% reported increased costs during the pandemic.

Product Type Insights

The monitoring & therapeutic devices segment led the market and accounted for a revenue share of more than 89% in 2020. The segment is also anticipated to remain dominant over the forecast period due to the increasing prevalence of chronic diseases requiring long-term care. In addition, increasing patient preference for at-home medical treatment over an in-patient setting is contributing to the segment growth.

Based on product type, the market is segmented into personal mobility devices, bathroom safety devices & medical furniture, and monitoring & therapeutic devices. The personal mobility devices segment is anticipated to witness the fastest growth rate of over 6% during the forecast period. The increasing geriatric population is likely to create more demand for mobility products over the forecast period as aging generally reduces the ability to move and perform physical tasks to maintain independent functioning. Moreover, aged people are more prone to falls, which can cause fatal or non-fatal injuries.

Key Companies & Market Share Insights

The market is highly competitive with the presence of several well-established companies in the country. Key parameters affecting the competitive nature of the market are the rapid adoption of advanced devices for improved healthcare. Also, to retain the market shares and diversify the product portfolios, major players are often undertaking strategies, such as mergers & acquisitions and new product launches. For example, in July 2020, Invacare Corp. along with Alber, an international leader in power-assist solutions, launched SMOOV one in the U.S.

It is an innovative & power-assist solution that aids manual wheelchair users. As the COVID-19 situation is becoming worse, market players are trying their best to provide a medical solution to people in need. The demand for respiratory products has increased drastically during the pandemic. Hence, companies, like Invacare Corp., are increasing their production capacity to meet the demand. Some of the key players in the U.S. durable medical equipment (DME) market are:

• Invacare Corp.

• Sunrise Medical

• Arjo

• Medline Industries, Inc.

• GF Healthcare Products, Inc.

• Carex Health Brands, Inc.

• Cardinal Health

• Drive DeVilbiss Healthcare

• NOVA Medical Products

• Kaye Products, Inc.

U.S. Durable Medical Equipment Market Report Scope

Segments Covered in the Report

This report forecasts revenue growth at country levels and provides an analysis of the latest industry trends in each of the sub-segments from 2016 to 2028. For the purpose of this study, Grand View Research has segmented the U.S. durable medical equipment market report on the basis of product type:

• Product Type Outlook (Volume, K Units; Revenue, USD Million, 2016 - 2028)

  • Personal Mobility Devices

    • Wheelchairs

      • Electric

      • Manual

    • Scooters

    • Walker & Rollators

    • Canes & Crutches

    • Door Openers

    • Others

  • Bathroom Safety Devices & Medical Furniture

    • Commodes & Toilets

    • Mattress & Bedding Devices

  • Monitoring & Therapeutic Devices

    • Blood Sugar Monitors

    • Continuous Passive Motion (CPM)

    • Infusion Pumps

    • Nebulizers

    • Oxygen Equipment

    • Continuous Positive Airway Pressure (CPAP)

    • Suction Pumps

    • Traction Equipment

    • Others

      • Insulin Pumps

      • Ostomy Bags & Accessories

      • Wound Care Products

      • Cardiology Devices

      • Vital Signs Monitors

      • Respiratory Supplies (APAP/BiPAPA)

      • Urinary Supplies

      • Diabetic Supplies

      • Incontinence Products

      • Orthopedic Braces & Support System

      • Muscle Stimulators

      • Others