Global Durable Medical Equipment Market Size, Share, Growth Analysis, By Product, By End-use, By Region - Industry Forecast 2024-2031

Global Durable Medical Equipment Market size was valued at USD 207.99 billion in 2022 and is poised to grow from USD 220.26 billion in 2023 to USD 348.42 billion by 2031, growing at a CAGR of 5.90% during the forecast period (2024-2031).

Durable medical equipment (DME) encompasses a range of devices aimed at aiding patients in their daily activities, typically supported by healthcare insurance within certain parameters. This category includes power scooters, oxygen equipment, walkers, wheelchairs, hospital beds, catheters, support braces, and replacement CPAP masks. Market growth in the forecast period is anticipated due to increased prevalence of various medical conditions such as cancer, cardiac disorders, neurological issues, and gynecological complications, along with improved coverage and reimbursement policies for DME. Additionally, the expanding elderly care sector, driven by global demographic shifts, is poised to significantly boost the DME market. However, obstacles such as stringent regulatory requirements in developed nations and a shortage of skilled personnel to operate DME may hinder industry growth, compounded by the substantial costs associated with these medical devices.

Top-down and bottom-up approaches were used to estimate and validate the size of the Global Durable Medical Equipment Market and to estimate the size of various other dependent submarkets. The research methodology used to estimate the market size includes the following details: The key players in the market were identified through secondary research, and their market shares in the respective regions were determined through primary and secondary research. This entire procedure includes the study of the annual and financial reports of the top market players and extensive interviews for key insights from industry leaders such as CEOs, VPs, directors, and marketing executives. All percentage shares split, and breakdowns were determined using secondary sources and verified through Primary sources. All possible parameters that affect the markets covered in this research study have been accounted for, viewed in extensive detail, verified through primary research, and analyzed to get the final quantitative and qualitative data.

Global Durable Medical Equipment Market Segmental Analysis

The global durable medical equipment market is segmented based on the product, end-use, and region. Based on product, the market is segmented into personal mobility devices, bathroom safety devices and medical furniture, monitoring and therapeutic devices, and others. In terms of end-use, the market is segmented into hospitals, home healthcare, nursing homes, and others. Based on region, the market is categorized into North America, Europe, Asia-Pacific, Latin America, and MEA.

Drivers of the Global Durable Medical Equipment Market

The anticipated surge in the durable medical equipment market size stems primarily from the increasing demand for such equipment for home use. Additionally, the global rise in cardiovascular diseases, requiring continual patient monitoring, is projected to further drive market growth.

Restraints in the Global Durable Medical Equipment Market

During the forecast period, the growth of the industry is expected to be hindered by stringent regulatory guidelines in developed economies and a scarcity of skilled professionals to operate the equipment. Additionally, market expansion is projected to be limited by the absence of standardization and the prevalence of counterfeit products.

Market Trends of the Global Durable Medical Equipment Market

The vital signs monitor serves as a crucial aid for medical and nursing professionals to collect data on a patient's physiological state, with nurses typically assuming responsibility for this task. These vital signs encompass blood pressure (BP), heart rate (HR), respiratory rate (RR), oxygen saturation (SpO2), and core temperature, and their consistent monitoring is pivotal for identifying any clinical decline in hospitalized patients. Nurses diligently measure and record these primary vital signs 2-3 times daily to evaluate patients' well-being.