U.S. Durable Medical Equipment Market Size, Share & Trends Analysis Report By Product (Monitoring And Therapeutic Devices, Personal Mobility Devices), And Segment Forecasts, 2023 - 2030

Report Overview

The U.S. durable medical equipment market size was valued at USD 59.7 billion in 2022 and is expected to expand at a compound annual growth rate (CAGR) of 5.7% from 2023 to 2030. The COVID-19 pandemic has affected the supply chain of durable medical equipment (DME). 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.

The COVID-19 pandemic has initially disrupted the market due to the lack of accessibility of the products to the customers. The pandemic has affected the operations and financial condition of various market players. 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 durable medical equipment suppliers are facing numerous challenges in serving patients requiring respiratory support and other DME-related services. Cancer is a leading cause of death globally accounting for 10 million deaths in 2020. 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 the statistics of the Centers for Disease Control and Prevention, in 2020, 5.8 million Americans were living with Alzheimer’s disease. The rising prevalence of diseases is expected to result in an increase in demand for DME over the forecast period. 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 6.2 trillion in 2028 and account for 20% of the GDP. 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. Medicare has covered 18.4% of U.S. Americans in 2020 and in 2021, more than 26 million people enrolled in Medicare Advantage Plan.

Product Insights

The monitoring and therapeutic devices segment held the largest revenue share of over 89.3% in 2022 due to the increasing prevalence of chronic diseases requiring long-term care. In addition, increasing patient preference for at-home medical treatment or remote medical services over an in-patient setting is contributing to the segment growth. In monitoring and therapeutic devices, neuromonitoring techniques are expected to witness growth over the forecast period as they are becoming a part of standard medical practices and are routinely used during many surgical procedures.

The personal mobility devices segment is anticipated to register the fastest growth rate of 6.0% during the forecast period. The growing geriatric population and rising chronic illnesses are likely to create more need and demand for mobility products over the forecast period as these factors generally reduce 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 key companies are continuously focusing on initiatives such as mergers & acquisitions, regional expansion, and novel product development. For instance, in December 2020, Arjo completed the acquisition of AirPal, which is likely to strengthen Arjo’s Patient Handling portfolio. The market players are introducing innovative technologies and products to expand their product portfolio to capture a large share in the market. The market consists of big players as well as local distributors and suppliers. The key players are focusing on providing cost-efficient products, which can be used remotely. Some prominent players in the U.S. durable medical equipment include:

• 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

U.S. Durable Medical Equipment Market Segmentation

This report forecasts revenue growth at the country level and provides an analysis of the latest industry trends and opportunities in each of the sub-segments from 2018 to 2030. For this study, Grand View Research has segmented the U.S. durable medical equipment market report based on product and end-use:

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

  • Personal Mobility Devices

    • Wheelchairs

      • Electric Wheelchairs

      • Manual 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

    • Nebulizers

    • Oxygen Equipment

    • Continuous Positive Airway Pressure (CPAP)

    • Suction Pumps

    • Traction Equipment

    • Others Equipment

      • Insulin Pumps

      • Ostomy Bags & Accessories

      • Wound Care Products

      • Cardiology Devices

      • Vital Signs Monitor

      • Respiratory Supplies

      • Urinary Supplies

      • Diabetic Supplies

      • Incontinence Products

      • Orthopedic Braces & Support

      • Muscle Stimulators

      • Others

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

  • Hospitals

  • Specialty Clinics

  • Ambulatory Surgical Centers

  • Diagnostic Centers

  • Home Healthcare

  • Others