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.
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.
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.
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
Report Attribute |
Details |
Market Size value in 2021 |
USD 56.1 billion |
Revenue forecast in 2028 |
USD 84.3 billion |
Growth Rate |
CAGR of 6.0% from 2021 to 2028 |
Base year for estimation |
2020 |
Historical data |
2016 - 2019 |
Forecast period |
2021 - 2028 |
Quantitative units |
Revenue in USD Million and CAGR from 2021 to 2028 |
Report coverage |
Revenue forecast, company ranking, competitive landscape, growth factors, and trends |
Segments covered |
Products |
Country scope |
U.S. |
Key companies profiled |
Invacare Corporation; Sunrise Medical; ArjoHuntleigh; Hill-Rom; Stryker |
Customization scope |
Free report customization (equivalent to 8 analysts working days) with purchase. Addition or alteration to country, regional & segment scope. |
Pricing and purchase options |
Avail customized purchase options to meet your exact research needs. Explore purchase options |
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
b. The U.S. DME market size was established at USD 52.9 billion in 2020 and is expected to reach USD 56.1 billion in 2021.
b. The U.S. DME market is expected to grow at a compound annual growth rate of 6.0% from 2021 to 2028 to reach USD 84.3 billion by 2028.
b. The monitoring and therapeutic devices segment dominated the U.S. DME market with a share of 89% in 2019. This is attributable to their ease of use, convenience, and patient preference for the equipment.
b. Some key players operating in the U.S. DME 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; and Joerns Healthcare LLC.
b. Key factors that are driving the market growth include an increase in the prevalence of chronic disease, rapid technological advancements, and a rising aging population.
This report has a service guarantee. We stand by our report quality.
We are in compliance with GDPR & CCPR norms. All interactions are confidential.
Design an exclusive study to serve your research needs.
Get your queries resolved from an industry expert.
"The quality of research they have done for us has been excellent..."
With Covid-19 infections rising globally, the apprehension regarding a shortage of essential life-saving devices and other essential medical supplies in order to prevent the spread of this pandemic and provide optimum care to the infected also widens. In addition, till a pharmacological treatment is developed, ventilators act as a vital treatment preference for the COVID-19 patients, who may require critical care. Moreover, there is an urgent need for a rapid acceleration in the manufacturing process for a wide range of test-kits (antibody tests, self-administered, and others). The report will account for Covid19 as a key market contributor.