U.S. Durable Medical Equipment Market Size, Market Research and Industry Forecast Report, 2027 (Includes Business Impact of COVID-19)

                                          
Industry Insights, Market Size, CAGR, High-Level Analysis: U.S. Durable Medical Equipment Market


The U.S. durable medical equipment market size was valued at USD 49.9 billion in 2019 and is expected to register a CAGR of 6.0% over the forecast period. Increase in prevalence of chronic disease, rapid technological advancements and rising aging population are the leading factors propelling the overall demand for durable medical equipment (DME) in the country. Rising product approvals are projected to further fuel the product demand.
Durable medical equipment are the medical devices used for improving the quality of the life of the patients. Some of the common DME include wheelchairs, blood sugar monitors, and nebulizers. The expansion of competitive bidding is expected to control the reimbursement rate of the products, which is likely to drive retail sales of several products in the forthcoming years.

Rising incidence of chronic diseases such as cancer, multiple sclerosis, and rheumatoid arthritis, is anticipated to drive the demand for DME. As per the National Cancer Institute Report 2018, approximately 1.7 million people in U.S. were diagnosed with cancer. Moreover, around 70.0% rise is expected in new cases of cancer over the next couple of years. Such significant rise in the disease occurrence is anticipated to drive the product demand. Neurological disorders, such as epilepsy and Alzheimers and Parkinsons diseases are also expected to witness a surge in occurrence over the forecast period. As per a survey carried out by the American Neurological Association in 2017, around 5.3 million people in U.S. were suffering from Alzheimers.
Increasing geriatric population is one of the important factors driving the growth of the U.S. durable medical equipment market. As per a survey carried out by the Population Reference Bureau in 2019, over 52 million people in U.S. were aged 65 years and above. This number is anticipated to increase to 95 million by 2050. Geriatric population present a greater exposure to chronic conditions, such as cancer, diabetes, and other lifestyle chronic disorders. Hence, demand for DME is expected to increase in near future.
Product
Type Insights of U.S. Durable Medical Equipment Market

On the basis of product type, the U.S. market for durable medical equipment is segmented into personal mobility devices, bathroom safety devices and medical furniture, and monitoring and therapeutic devices. Monitoring and therapeutic devices accounted for the largest market share in 2019 due to their ease of use, convenience and patient preference for the equipment.

Based on bathroom safety devices and medical furniture, the market is sub-segmented into commodes and toilets and mattress and bedding devices. The monitoring and therapeutic devices are sub segmented into blood sugar monitors, Continuous Passive Motion (CPM), infusion pumps, nebulizers, oxygen equipment, Continuous Positive Airway Pressure (CPAP), suction pumps, traction equipment, and others. Monitoring and therapeutic devices is held around 90.0% market share in 2019. These equipment are most widely used for long-term care in case of cancer, neurological disorders, and cardiovascular and other such chronic diseases.

The others segment is expected to account for the major market share during the forecast period due to increasing demand for wireless monitoring devices and prevalence of lifestyle-related diseases that require routine examination of vital statistics. Whereas personal mobility devices are projected to register the fastest CAGR of 6.3% over the forecast period. Technological advancement in durable medical equipment is likely to aid the segment growth. These devices include wheelchair, scooters, walkers and rollators, canes and crutches, and door openers. Wheelchair is expected to dominate this segment due to its increasing demand and high usage rate. It is estimated that around 3.3 million patients in U.S. use wheelchairs for day-to-day mobility needs.

Advancements in medical devices technologies, advanced healthcare infrastructure, and high demand for quality products are some of the factors anticipated to boost the demand for DME equipment in U.S. According to a survey carried out by the National Center for Biotechnology Information (NCBI) in 2018, around 133 million people in the country suffer from at least one chronic disease. Hence, the DME market is expected to witness significant growth during the forecast period.

Market Share Insights of U.S. Durable Medical Equipment Market

The U.S. DME market is highly competitive. Some of the players operating in the 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.

Key parameters affecting the competitive nature are rapid adoption of advanced devices for improved healthcare. Also, the major players often undertake mergers and acquisitions along with new product launches in order to retain share and diversify the product portfolio. In February 2017, Hill-Rom acquired Mortara Instrument, Inc., a Wisconsin-based medical device manufacturer, to increase its product portfolio and revenue growth.

Segmentations, Sub Segmentations, CAGR, & High-Level Analysis overview of U.S. Durable Medical Equipment Market Research Report

This report forecasts revenue growth at country levels and provides an analysis of the latest industry trends in each of the sub-segments from 2019 to 2030. For the purpose of this study, this market research report has segmented the U.S. durable medical equipment market report on the basis of product:

Product Type Outlook (Revenue, USD Million, 2019 - 2030)

  
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