Durable Medical Equipment Market Size, Share, and Trends 2024 to 2034

Durable Medical Equipment Market Size and Forecast 2024 to 2034

The global durable medical equipment market size accounted for USD 206.74 billion in 2024 and is expected to be worth around USD 370.24 billion by 2034, at a CAGR of 6% from 2024 to 2034. The North America durable medical equipment market size reached USD 58.51 billion in 2023.

Durable Medical Equipment Market Key Takeaways

• North America dominated the market with the highest market share of 30% in 2023.
• Asia Pacific is observed to witness the fastest rate of growth during the forecast period.
• By Product, the monitoring and therapeutic devices segment dominated the market in 2023.
• By End-use, the hospital segment dominated the market in 2023.

U.S. Durable Medical Equipment Market Size and Growth 2024 to 2034

The U.S. durable medical equipment market size was estimated at USD 41.04 billion in 2023 and is predicted to be worth around USD 79.57 billion by 2034, at a CAGR of 6.2% from 2024 to 2034.

North America leads the market in durable medical equipment. The U.S. is the largest contributor to the revenue of the North American market. The primary factors for the largest growth of the durable medical equipment market in the North American market is the rise in elderly population and the rapid growthof chronic disease among the people of North America. Furthermore, the major market players in North America are continuously innovating new products for the wellbeing of the patients. Also, the unexpected emergence of COVID-19 pandemic outbreak has generated huge demand for the durable medical equipment in the market.

Asia-Pacific region is also expected to contribute significantly towards the market share of durable medical equipment owing to the rapid increase in chronic diseases such as diabetics, hypertension, high blood pressures and many others especially in the developing countries such as in China, India and Japan. Also, the increase in the disposable income of the customers and the desire to avail medical facilities at home has fostered the growth of the durable medical equipment market.

Durable Medical Equipment Market Growth Factors

The surge in demand for the durable medical equipment’s to be used residentially is the primary factor that is expected to drive the growth of the Durable Medical Equipment Market. Furthermore, the increasing cardiovascular disease across the globe where constant body monitoring is required by the patients is anticipated to fuel the growth of the Durable Medical Equipment Market.

During the COVID-19 outbreak, the demand for the   Durable Medical Equipment’s increased in the local hospitals and the healthcare facilities. To meet this demand the manufacturers of the Durable medical equipment’s fastened the production process for these equipment’s and this attribute is expected to boost the growth of the Durable Medical Equipment Market. Additionally, the surge in chronic diseases such as cancer, diabetics, cardiac disorders, neurological conditions and others across the world is yet another factor that is anticipated to fuel the growth of the Durable Medical Equipment Market.

With rapid technological developments, the Durable medical equipment manufacturing companies are innovating new equipment’s that can accurately measure different body parameters. This factor is expected to drive the growth of the Durable Medical Equipment Market. Furthermore, increasing demand for therapeutic and monitoring devices across the globe is expected to boost the growth of the Durable Medical Equipment Market.

The surge in older population across the globe is a major factor that is fueling the growth of the Durable Medical Equipment Market. The older generation people usually suffer from chronic diseases that need constant monitoring of their health condition and this boost the demand for the Durable Medical Equipment’s in the Market. Also, the development of technologically advanced durable medical equipment’s such as wheelchairs, crutches, ventilators, nebulizers, oxygen monitors and many othersthat provides comfort to the patients is anticipated to drive the growth of the Durable Medical Equipment Market.

Market Scope

Product Insights

Based on Product, the durable medical equipment Market is divided into personal mobility devices, monitoring and therapeutic devices, bathroom safety devices, medical furniture, incontinent pads, breast pumps, catheters, consumables and accessories and others. The monitoring and therapeutic devices sector will lead the durable medical equipment market with highest revenue share during the forecast period owing to the rapid increase of chronic disease among the people all over the world that requires long term treatments. Additionally, the preference of patients to be treated at home is estimated to drive the growth of the durable medical equipment market.

The personal mobility devices such as wheelchair, scooter, crutches, canes and others is also expected to experience significant growth in the upcoming years due to the rapid increase in geriatric population across the world. The increase in elderly population will generate more demand for the mobility products and therefore will contribute significantly towards the growth of the durable medical equipment market.

End-use Insights

On the basis on end-use, the market is categorized into hospitals, home healthcare, ambulatory surgical centers and others. The durable medical equipment used in the hospital and other healthcare center holds a significant share in the end use segment. The accuracy and precision with which these equipment’s monitor the patient’s health condition amplifies the demand for the need of durable medical equipment in the market. Also, the ambulance is equipped with durable medical equipment in order to monitor the patient health condition and to provide preliminary treatment based on the health condition of the patient.

During the COVID-19 pandemic outbreak many people preferred to monitor their health condition at home and this factor increased the demand of the durable medical equipment in the market.

Durable Medical Equipment Market Companies

• ArjoHuntleigh
• Becton Dickinson and Company
• General Electric Company
• GF Health Products Inc.
• Hill-Rom Services Inc.
• Invacare Corporation
• Koninklijke Philips NV
• Medical Device Depot Inc.
• Medline Industries Inc.
• Medtronic PLC

Recent Developments

• On 27th August, 2021 Siemens Healthineers inaugurated a manufacturing facility for molecular diagnostic kits in Vadodara, Gujarat with a production capacity of 25 million tests per annum.
• On 15th September, 2021 ArjoHuntleigha global medical technology company has been rewarded with an Innovative Technology Contract for the Provizio SEM Scanner with Vizient Inc. The Provizio SEM Scanner has unique qualities that help in the identification of pressure injury risk, which can help caregivers provide earlier interventions to reduce both patient suffering and healthcare costs.

Segments Covered in the Report

By Product

• Personal Mobility Devices
  • Wheelchair and Scooter
  • Crutches and Canes
  • Walkers
  • Others
• Monitoring and Therapeutic Devices
  • Oxygen Equipment
  • Blood Glucose Analyzers
  • Vital Sign Monitors
  • Infusion Pumps
  • Continuous Positive Airway Pressure (CPAP) Devices
  • Nebulizers
  • Others
• Bathroom Safety Devices
• Medical Furniture
• Incontinent Pads
• Breast Pumps
• Catheters
• Consumables and Accessories
• Others

By End-use

• Hospitals
• Home Healthcare
• Ambulatory Surgical Centers
• Others

By Geography

• North America
  • U.S.
  • Canada
  • Mexico
• Europe
  • U.K.
  • Germany
  • France
  • Russia
  • Italy
  • Spain
  • Rest of Europe
• Asia Pacific
  • China
  • India
  • Japan
  • South Korea
  • Rest of Asia-Pacific
• LAMEA
  • Latin America
  • Middle East
  • Africa