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Durable Medical Equipment Market Size, Share and Analysis By Product Type (Personal Mobility Devices [Wheelchairs, Walkers, Scooters, Door Openers, Canes & Crutches, Others], Medical Furniture [Medical Beds, Stretchers, Mattress, Lift Chairs, Others], Bathroom Safety Devices [Commodes, Toilet Rails/ Frames, Others], Monitoring & Therapeutic Devices [Blood Glucose Monitors, Oxygen Equipment, Vital Sign Monitors, Infusion Pumps, Others]), By End-User (Hospitals, Long Term Care Settings, Homecare Settings, Others) and Regional Forecast, 2024-2032

Region :Global | Report ID: FBI106932 | Status : Ongoing

 

KEY MARKET INSIGHTS

Broadly, medical products are classified into two main types: durable medical equipment (DME) and disposable medical supplies. According to the U.S. Centers for Medicare and Medicaid Services, a medical device should be durable in nature (capable to withstand repeated use), appropriate for usage in homecare settings, and should have an expected lifetime of a minimum of 3 years to be categorized under the category of durable medical equipment. Both the DME and disposable medical supplies are used for providing medical care to a large target population comprising the elderly, ill, disabled people, and others. At present, the market for this equipment is witnessing lucrative growth owing to the rise in the burden of the geriatric population across the globe who are susceptible to developing various chronic and lifestyle-associated disorders. For instance, as per the World Population Ageing Highlights published in the year 2020, approximately 727 million people aged 65 years and above, worldwide which was projected to double by 2050 to reach over 1.5 billion people.


Furthermore, the rise in various chronic disorders such as diabetes, respiratory disorders, and cancer, among others is also anticipated to bolster the market growth for durable medical equipment. This is because these pieces of equipment are used for the proper care and management of these diseases.   


  • For instance, according to the statistics published by the International Diabetes Federation in 2021, an estimated 537 million adults between 20 and 79 years old were living with diabetes. In addition, the organization projected the number of people living with diabetes to increase to 643 million and 783 million by the years 2030 and 2045, respectively. 

  • For adequate and proper management of diabetes companies are launching advanced glucose monitoring products, which are considered as durable medical equipment. Recently, in July 2021, Terumo Corporation launched the continuous glucose monitoring (CGM) system, Dexcom G6 in Japan.


Moreover, the governments of different nations along with global organizations are raising awareness & strengthening the healthcare infrastructure to offer improved facilities and quality-assured medical care, which is likely to increase the adoption of durable medical equipment.


  • In April 2021, the World Health Organization (WHO) in collaboration with the Government of Canada launched the Global Diabetes Compact, an initiative to minimize the risk of diabetes across the globe and to ensure comprehensive, equitable, affordable, and quality treatment care for the population diagnosed with diabetes.


Similar trends and initiatives for the management of other chronic diseases are anticipated to augment the demand for this durable medical equipment in the current and upcoming years.

The ongoing technological advancement in durable medical equipment is also one of the potential factors expected to increase the demand for durable medical equipment among the population. One such example is the rise in the adoption of smart hospital beds by hospitals instead the traditional beds. Smart beds are intelligently designed to reduce in-hospital patient fall and increase the workflow efficiency of the healthcare staff as compared to traditional beds. The shift in focus of the key players for developing such advanced smart hospital beds might increase the adoption of these devices. For instance, on October 19, 2020, Stryker launched the first and only wireless hospital bed “ProCuity”. Thus, the integration of smart technologies such as IoMT (internet of Medical Things), Artificial Intelligence (AI), 3D printing, nanotechnology, and various new technologies in the durable medical equipment product arena augment the market growth.

Impact of COVID-19 on the Durable Medical Equipment Market


The COVID-19 pandemic had an adverse impact on various healthcare sectors during the initial phases due to the implementation of various regulatory guidelines, lockdown norms, and disruption in the demand and supply chain. The above precautionary measures implemented by the governing bodies of various countries across the globe had also sluggish the market for durable medical equipment market. Most of the segments of the DME market have observed slow growth. However, the pandemic has created opportunities for some segments of the DME market such as vital sign monitoring devices, and hospital beds, among others during the initial phases.

For instance, as per the FDA, due to the COVID-19 public health emergency, there was an increased demand for hospital beds, mattresses, ventilators, and stretchers. To meet the requirement manufacturers from different industries manufactured the essential medical commodities.


  • As per the data published in the Hindu newspaper, in May 2020, three Indian companies got licenses to manufacture NASA’s ventilators for COVID-19 patients.


The other medical equipment segments such as personal mobility devices, bathroom safety devices, and others in the durable medical equipment market are expected to regain normalcy in the post-pandemic duration owing to the ease in various regulations and guidelines imposed during the pandemic.

Key Insights


The report will cover the following key insights:


  • Prevalence/incidence of chronic disorders, 2021.

  • Analysis of Reimbursement Scenario.

  • Number of Long Term Care facilities, Key Countries.

  • Statistics Related to Chronic Disease Care.

  • Key Industry Developments.

  • Impact of COVID-19 on Durable Medical Equipment Market.

  • Steps Taken by the Industry/Government/Companies to Overcome the Impact.

  • Key developments in the Industry in Response to COVID-19.


Analysis by Product Type


Monitoring or therapeutics devices segment accounts for the largest proportion of the global durable medical equipment market.

Shifting patient preferences for remote medical services over in hospital medical services is anticipated to spur the market. This has led the manufacturers to increase their focus on developing medical equipment, which are specific to the patient’s needs.


  • For instance, in June 2020, Abbott received FDA clearance for the integrated continuous glucose monitoring (iCGM) system, FreeStyle Libre 2, for adults and children suffering with diabetes.


Regional Analysis


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North America is expected to hold the largest market share in durable medical equipment and would continue its position in the forthcoming years. This is due to the growing approvals and launches of various durable medical equipment in the region. In May 2021, Cheelcare Canada launched Companion Plus, an improved version of the company’s front-mount Power-Assist device.

Moreover, initiatives by government agencies to provide proper reimbursement for durable medical equipment is also expected to increase their adoption among patients thereby fuelling the market. Recently, the Centers for Medicare & Medicaid Services (CMS) issued a final rule and classified non-implantable continuous glucose monitors (CGMs) as durable medical equipment (DME) regardless of whether the device has been approved by the Food and Drug Administration (FDA) to replace a blood glucose monitor for use in making diabetes treatment decisions whiwerewas effective from February 28, 2022.

Key Players Covered


The report will include the profiles of key players such as Cardinal Health, Sunrise Medical, GF HEALTH PRODUCTS, INC., Abbott, BD (Becton, Dickinson and Company), Stryker, OMRON Corporation, Invacare Corporation., Dexcom, Inc., Cheelcare Canada, and others.

Segmentation
















By Product Type


By End User


By Geography



  • Personal Mobility Devices


    • Wheelchairs

    • Walkers

    • Scooters

    • Door Openers

    • Canes & Crutches

    • Others


  • Medical Furniture


    • Medical Beds

    • Stretchers

    • Mattress

    • Lift Chairs

    • Others


  • Bathroom Safety Devices


    • Commodes

    • Toilet Rails/Frames

    • Others


  • Monitoring & Therapeutic Devices


    • Blood Glucose Monitors

    • Oxygen Equipment

    • Vital Sign Monitors

    • Infusion Pumps

    • Others





  • Hospitals

  • Long Term Care Centers

  • Home-care Settings

  • Others




  • North America (U.S. and Canada)

  • Europe (U.K., Germany, France, Spain, Italy, Scandinavia, Rest of Europe)

  • Asia Pacific (Japan, China, Australia, India, South East Asia, Rest of APAC)

  • Middle East & Africa (GCC, South Africa, and Rest of MEA)

  • Latin America (Brazil, Mexico, and Rest of LATAM  



Key Industry Developments



  • In August 2021, Invacare Corporation launched the Invacare® AVIVA® STORM RX™ power wheelchair, for rear-wheel drive power mobility. With this launch, the company extended its product portfolio.

  • In December 2020, AireHealth received FDA 510(k) approval for its connected nebulizer, VitalMed, for patients suffering with respiratory conditions. The approval of this device is expected to offer affordable treatments, early detection, and easy symptom tracking of various respiratory conditions.

  • In May 2020, Baxter received CE marking and approval from the Australia’s Therapeutic Goods Administration (TGA) for Evo IQ syringe infusion system, which has the features of smart infusion pumps. The approval of the device complements on-market large volumetric pump and provide opportunity in personalized treatment.





  • Ongoing
  • 2023
  • 2019-2022

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