U.S. Durable Medical Equipment Market Size, Share & Trends Analysis Report By Product Type (Personal Mobility Devices, Bathroom Safety Devices & Medical Furniture, Monitoring & Therapeutic 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. It is expected to expand at a compound annual growth rate (CAGR) of 6.0% over the forecast period. The market is majorly driven by rising demand for Durable Medical Equipment (DME) due to the growing geriatric population susceptible to various chronic diseases such as cancer, diabetes, cardiovascular diseases, neurological disorders, and mobility disorders. 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. This factor is expected to drive market growth.

An increase in healthcare spending across the country is expected to boost the 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 accounted for an increasing proportion of the total healthcare expenditure. It provides healthcare benefits to an estimated 60 million elderly and disabled people, constituting almost 15% of the federal budget in 2018. The presence of such a reimbursement skeleton maintains a steady revenue for the industry.

However, the COVID-19 pandemic has disrupted the industry as a whole. The DME suppliers are facing mounting challenges in serving patients requiring respiratory support and other durable medical equipment. The DME suppliers have encountered interruptions in the supply chain such as significant delays and order cancellations in receiving their equipment and supplies, as a result of public health and economic emergencies related to COVID-19. The manufacturers and distributors have levied surcharges and passed along increases in their costs in response to the pandemic. Not only is this hampering the production, but certain companies are also losing on 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 with 67% reported increased costs during the pandemic.

Product Type Insights

The monitoring and therapeutic devices segment led the market and accounted for more than 87.0% share of the global revenue in 2020. The segment is also anticipated to remain dominant over the forecast period. This is mainly due to the increasing prevalence of chronic diseases that require long-term care. Besides, increasing patient preference for medical treatment in the home rather than an in-patient setting is contributing to market growth.

Based on product type, the U.S. durable medical equipment market is segmented into personal mobility devices, bathroom safety devices and medical furniture, and monitoring and therapeutic devices. The personal mobility devices segment is anticipated to witness the fastest CAGR of 6.3% over the forecast period. Aging generally reduces the ability to move and perform physical tasks to maintain independent functioning. The increasing geriatric population is likely to create more demand for mobility products over the forecast period. Moreover, they are more prone to falls, which can cause fatal or non-fatal injuries. The elderly population is a key target for personal mobility devices, supporting market growth.

Key Players & Market Share Insights

The market is highly competitive. Key parameters affecting competitive nature are rapid adoption of advanced devices for improved healthcare. Also, to retain share and diversify the product portfolio, major players are often undertaking mergers and acquisitions along with new product launches. In July 2020, Invacare Corporation along with Alber, an international leader in power-assist solutions launched SMOOV one in the U.S. It is an innovative and power-assist solution that aids users of manual wheelchairs.

As the COVID-19 situation is becoming worse, market players are trying their best to provide a medical solution to people in need up until the third quarter of 2020. Demand for respiratory products has increased dramatically during the pandemic. Hence, players are increasing production, for instance, Invacare Corporation, to meet the demand of the products. Some of the prominent players operating in the U.S. durable medical equipment market include:

• Invacare Corporation

• Sunrise Medical

• ArjoHuntleigh

• Hill-Rom

• Stryker

• Medline Industries, Inc.

• Medical Device Depot, Inc.

• GF HEALTH PRODUCTS INC.

• Carex Health Brands

• Baxter International, Inc.

• Becton, Dickinson and Company

• Joerns Healthcare LLC

U.S. Durable Medical Equipment Market Report Scope

Segments Covered in the Report

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

• Product Type Outlook (Revenue, USD Million, 2016 - 2028)

  • Personal Mobility Devices

    • Wheelchairs

    • Scooters

    • Walker and Rollators

    • Canes and Crutches

    • Door Openers

    • Other devices

  • Bathroom Safety Devices and Medical Furniture

    • Commodes and Toilets

    • Mattress & Bedding Devices

  • Monitoring and 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 and accessories

      • Wound care products

      • Cardiology Devices

      • Vital Signs Monitor

      • Respiratory supplies

      • Urinary supplies

      • Diabetic supplies

      • Incontinence products

      • Orthopedic braces and support

      • Muscle stimulators

      • Others