U.S. Durable Medical Equipment Market Size, Share & Trends Report

U.S. Durable Medical Equipment Market Size, Share & Trends Analysis Report By Product (Monitoring And Therapeutic Devices, Personal Mobility Devices), End Use And Segment Forecasts, 2024 - 2030

  • Report ID: GVR-1-68038-926-5
  • Number of Pages: 300
  • Format: Electronic (PDF)
  • Historical Range: 2018 - 2023
  • Industry: Healthcare

Research Methodology

A three-pronged approach was followed for deducing the U.S. durable medical equipment market estimates and forecasts. The process has three steps: information procurement, analysis, and validation. The whole process is cyclical, and steps repeat until the estimates are validated. The three steps are explained in detail below:

Information procurement: Information procurement is one of the most extensive and important stages in our research process, and quality data is critical for accurate analysis. We followed a multi-channel data collection process for U.S. durable medical equipment market to gather the most reliable and current information possible.

  • We buy access to paid databases such as Hoover’s and Factiva for company financials, industry information, white papers, industry journals, SME journals, and more.
  • We tap into Grand View’s proprietary database of data points and insights from active and archived monitoring and reporting.
  • We conduct primary research with industry experts through questionnaires and one-on-one phone interviews.
  • We pull from reliable secondary sources such as white papers and government statistics, published by organizations like WHO, NGOs, World Bank, etc., Key Opinion Leaders (KoL) publications, company filings, investor documents, and more.
  • We purchase and review investor analyst reports, broker reports, academic commentary, government quotes, and wealth management publications for insightful third-party perspectives.

Analysis: We mine the data collected to establish baselines for forecasting, identify trends and opportunities, gain insight into consumer demographics and drivers, and so much more. We utilized different methods of U.S. durable medical equipment market data depending on the type of information we’re trying to uncover in our research.

  • Market Research Efforts: Bottom-up Approach for estimating and forecasting demand size and opportunity, top-down Approach for new product forecasting and penetration, and combined approach of both Bottom-up and Top-down for full coverage analysis.

  • Value-Chain-Based Sizing & Forecasting: Supply-side estimates for understanding potential revenue through competitive benchmarking, forecasting, and penetration modeling.

  • Demand-side estimates for identifying parent and ancillary markets, segment modeling, and heuristic forecasting.

  • Qualitative Functional Deployment (QFD) Modelling for market share assessment.

Market formulation and validation: We mine the data collected to establish baselines for forecasting, identify trends and opportunities, gain insight into consumer demographics and drivers, and so much more. We utilize different methods of data analysis depending on the type of information we’re trying to uncover in our research.

  • Market Formulation: This step involves the finalization of market numbers. This step on an internal level is designed to manage outputs from the Data Analysis step.

  • Data Normalization: The final market estimates and forecasts are then aligned and sent to industry experts, in-panel quality control managers for validation.

  • This step also entails the finalization of the report scope and data representation pattern.

  • Validation: The process entails multiple levels of validation. All these steps run in parallel, and the study is forwarded for publishing only if all three levels render validated results.

U.S. Durable Medical Equipment Market Categorization:

The U.S. durable medical equipment market was categorized into two segments, namely product (Personal Mobility Devices, Bathroom Safety Devices and Medical Furniture, Monitoring and Therapeutic Devices), and end-use (Hospitals, Specialty Clinics, Ambulatory Surgical Centers, Diagnostic Centers, Home Healthcare).

Segment Market Methodology:

The U.S. durable medical equipment market was segmented into product, and end-use. The demand at a segment level was deduced using a funnel method. Concepts like the TAM, SAM, SOM, etc., were put into practice to understand the demand. We at GVR deploy three methods to deduce market estimates and determine forecasts. These methods are explained below:

Market research approaches: Bottom-up

  • Demand estimation of each product across countries/regions summed up to from the total market.

  • Variable analysis for demand forecast.

  • Demand estimation via analyzing paid database, and company financials either via annual reports or paid database.

  • Primary interviews for data revalidation and insight collection.

Market research approaches: Top-down

  • Used extensively for new product forecasting or analyzing penetration levels.

  • Tool used invoice product flow and penetration models Use of regression multi-variant analysis for forecasting Involves extensive use of paid and public databases.

  • Primary interviews and vendor-based primary research for variable impact analysis.

Market research approaches: Combined

  • This is the most common method. We apply concepts from both the top-down and bottom-up approaches to arrive at a viable conclusion.

Regional Market Methodology:

The U.S. durable medical equipment market was analyzed at a regional level. These region are further divided into one country, namely, the U.S.

All three above-mentioned market research methodologies were applied to arrive at regional-level conclusions. The regions were then summed up to form the global market.

U.S. durable medical equipment market companies & financials:

The U.S. durable medical equipment market was analyzed via companies operating in the sector. Analyzing these companies and cross-referencing them to the demand equation helped us validate our assumptions and conclusions. Key market players analyzed include:

  • Invacare Corp. - Invacare was established in 1885 and headquartered in the U.S. The company employs 3,400 people across the globe. Invacare Corporation has core competencies in long-term and home-care medical products. It distributes and manufactures nonacute medical equipment and respiratory products. It has a distribution network in 80 locations worldwide. Various acquisitions and product development initiatives have helped the company boost its market share. The company has gained popularity by introducing innovative products such as motorized wheelchairs with computerized controls.

  • Sunrise Medical - The company was founded in 1978 in the UK. Sunrise Medical develops, designs, and distributes customized and standard positioning and seating systems, mobility aids, mobility scooters, powered wheelchairs, and manual wheelchairs. The company has production facilities in China, Poland, the Netherlands, the U.S., Germany, Mexico, and the UK. Its essential products are marketed under proprietary Lomax, Coopers, JAY, Sterling, Breezy, Zippie, and QUICKIE brands. Its products are sold through a network of homecare medical product distributors or dealers in more than 130 countries.

  • ArjoHuntleigh - The company is based in Sweden and formed in 1957. ArjoHuntleigh employs more than 6,000 employees. Arjo is a subsidiary of Getinge Group, a Swedish medical technology company founded in 1904. It is involved in the extended patient care devices segment. The company offers products across various segments, including patient transfer solutions, therapeutic support systems, medical beds, hygiene systems, vascular therapy, disinfectant products, clinical couches, & diagnostic products. Moreover, the company also offers assessment services, rentals, technical services, and architectural services.

  •  Medline Industries, Inc. - Medline Industries was established in 1966 and headquartered in the U.S. The company has a worldwide employee strength of more than 28,000. Medline Industries, Inc. supplies and manufactures healthcare products. The company has 42 distribution centers across North America, with 550,000 products in its portfolio, including exam gloves, durable medical equipment, incontinence products, surgical procedure tray kits, and drapes & gowns. The company operates in more than 90 countries and across 43 U.S. distribution centers. It also provides business solutions in quality management, staff management, recruitment, readmissions, and capital planning & services.

  • GF Healthcare Products, Inc. - GF Healthcare Products, Inc. is a leader in medical product manufacturing. The company was established in 1946 in the U.S.  Some of its brands are Lumiscope Consumer Diagnostics, Intensa Medical and Laboratory Furniture, Grafco Medical-Surgical Products, Labtron Diagnostic Equipment, John Bunn Respiratory Products, Hausted Surgical Stretchers & Chairs, Basic American Medical Products Beds & Furnishings, Lumex Patient Aids & Healthcare Seating, and Everest & Jennings Wheelchair. Its manufacturing sites are located in various states of the U.S.

  • Carex Health Brands, Inc. - Carex Health Brands, Inc. is one of the leaders in self-care and at-home medical products. The company provides services to regional, national, and independent drug, food, mass retailers, medical dealers, distributors, and wholesalers. The company's product portfolio includes bathroom safety, mobility, personal care, medication organizers, enablers and aids for daily living, pain management, bright light therapy products, self-care products, and at-home care and patient room equipment. The company is a wholly-owned subsidiary of Compass Health Brands.

  • Joerns Healthcare, LLC  - Joerns Healthcare, LLC was established in the US in the year 1889 and provides healthcare equipment and services. The Company offers bed frames, respiratory, mattresses, lifts, and durable medical equipment and is a premier supplier and service provider in post-acute care. Joerns Healthcare has a nationwide network of service centers and a service fleet with over 130 sites.

  • Stryker - Stryker was formed in 1941 and employs around 46000 employees. The company offers products and services related to medical, surgical, orthopedics, spine, and neurotechnology fields. Its product offerings include patient handling equipment, Emergency Medical Services (EMS) & evacuation equipment; powered surgical instruments & joint replacement solutions, trauma products; micro & spine implant systems: orthobiologics & endoscopic products; and surgical navigation systems. The company has a presence across more than 100 countries around the world.

  • Baxter International, Inc - Baxter International, Inc. offers a broad portfolio of sterile intravenous solutions, acute and chronic dialysis therapies, parenteral nutrition therapies, infusion systems and devices, generic injectable pharmaceuticals, inhaled anesthetics, and surgical hemostat and sealant products. In addition, the company serves customers in more than 100 countries located on major continents like North America, Europe, APAC, Latin America, and MEA. Its primary customers are hospitals, nursing homes, kidney dialysis, and rehabilitation centers.

  •  Becton Dickinson - Becton Dickinson was established in 1897 in the U.S. The company accommodates around 65,000 employees globally. BD is a leading medical technology company that specializes in Medical Devices, Biosciences, Medical Supplies, Laboratory Instruments, Reagents, Diagnostics Products, Antibodies, Surgical and Vascular Access.

Value chain-based sizing & forecasting

Supply Side Estimates

  • Company revenue estimation via referring to annual reports, investor presentations, and Hoover’s.

  • Segment revenue determination via variable analysis and penetration modeling.

  • Competitive benchmarking to identify market leaders and their collective revenue shares.

  • Forecasting via analyzing commercialization rates, pipelines, market initiatives, distribution networks, etc.

Demand side estimates

  • Identifying parent markets and ancillary markets

  • Segment penetration analysis to obtain pertinent

  • revenue/volume

  • Heuristic forecasting with the help of subject matter experts

  • Forecasting via variable analysis

U.S. Durable Medical Equipment Market Report Objectives:

  • Understanding market dynamics (in terms of drivers, restraints, & opportunities) in the countries.

  • Understanding trends & variables in the individual countries & their impact on growth and using analytical tools to provide high-level insights into the market dynamics and the associated growth pattern.

  • Understanding market estimates and forecasts (with the base year as 2022, historic information from 2019 to 2021, and forecast from 2023 to 2030). Regional estimates & forecasts for each category are available and are summed up to form the global market estimates.

U.S. Durable Medical Equipment Market Report Assumptions:

  • The report provides market value for the base year 2022 and a yearly forecast till 2030 in terms of revenue/volume or both. The market for each of the segment outlooks has been provided on region & country basis for the above-mentioned forecast period.

  • The key industry dynamics, major technological trends, and application markets are evaluated to understand their impact on the demand for the forecast period. The growth rates were estimated using correlation, regression, and time-series analysis.

  • We have used the bottom-up approach for market sizing, analyzing key regional markets, dynamics, & trends for various products and end-users. The total market has been estimated by integrating the country markets.

  • All market estimates and forecasts have been validated through primary interviews with the key industry participants.

  • Inflation has not been accounted for to estimate and forecast the market.

  • Numbers may not add up due to rounding off.

  • Europe consists of EU-8, Central & Eastern Europe, along with the Commonwealth of Independent States (CIS).

  • Asia Pacific includes South Asia, East Asia, Southeast Asia, and Oceania (Australia & New Zealand).

  • Latin America includes Central American countries and the South American continent

  • Middle East includes Western Asia (as assigned by the UN Statistics Division) and the African continent.

Primary Research

GVR strives to procure the latest and unique information for reports directly from industry experts, which gives it a competitive edge. Quality is of utmost importance to us, therefore every year we focus on increasing our experts’ panel. Primary interviews are one of the critical steps in identifying recent market trends and scenarios. This process enables us to justify and validate our market estimates and forecasts to our clients. With more than 8,000 reports in our database, we have connected with some key opinion leaders across various domains, including healthcare, technology, consumer goods, and the chemical sector. Our process starts with identifying the right platform for a particular type of report, i.e., emails, LinkedIn, seminars, or telephonic conversation, as every report is unique and requires a differentiated approach.

We send out questionnaires to different experts from various regions/ countries, which is dependent on the following factors:

  • Report/Market scope: If the market study is global, we send questionnaires to industry experts across various regions, including North America, Europe, Asia Pacific, Latin America, and MEA.

  • Market Penetration: If the market is driven by technological advancements, population density, disease prevalence, or other factors, we identify experts and send out questionnaires based on region or country dominance.

The time to start receiving responses from industry experts varies based on how niche or well-penetrated the market is. Our reports include a detailed chapter on the KoL opinion section, which helps our clients understand the perspective of experts already in the market space.

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