IMARC Group's report titled "Durable Medical Equipment (DME) Market Report by Product (Personal Mobility Devices, Bathroom Safety Devices and Medical Furniture, Monitoring and Therapeutic Devices), End Use (Hospital, Nursing Homes, Home Healthcare, and Others), and Region 2024-2032", The global durable medical equipment (DME) market size reached US$ 217.0 Billion in 2023. Looking forward, IMARC Group expects the market to reach US$ 356.2 Billion by 2032, exhibiting a growth rate (CAGR) of 5.5% during 2024-2032.
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Factors Affecting the Growth of the Durable Medical Equipment (DME) Industry:
- Aging Population:
The escalating demand for durable medical equipment (DME) among the geriatric population is propelling the market growth. As people age, they are more likely to suffer from mobility issues, sensory impairments, and various age-related health conditions that necessitate the use of DME, such as walkers, wheelchairs, hospital beds, and hearing aids. This demographic trend is especially crucial in developed countries with higher life expectancy. Furthermore, there is a rise in the demand for products that can improve quality of life, enhance independence, and assist in day-to-day activities.
- Rising Incidences of Chronic Illness:
The increasing prevalence of chronic diseases, such as diabetes, heart disease, and respiratory, due to various factors like lifestyle changes and population aging is impelling the market growth. These disorders often require continuous medical intervention and support, leading to sustained demand for DME like glucose monitors, blood pressure cuffs, and oxygen concentrators. The management of these diseases frequently depends on the availability and effectiveness of DME, making it a crucial component of healthcare strategies. Furthermore, there is a rise in the need for robust and user-friendly DME that can support chronic disease management outside traditional healthcare settings.
- Technological Advancements:
Innovations assist in the introduction of more sophisticated, effective, and user-friendly products. Advancements, such as wireless monitoring devices, wearable health technology, and telemedicine-compatible equipment, are improving patient care. These technologies not only enhance the functionality of traditional DME but also improve patient engagement and compliance with treatment protocols. In addition, the integration of smart technologies and the Internet of Things (IoT) into DME facilitates real time health monitoring and data analysis and improve outcomes, which is bolstering the market growth.
Leading Companies Operating in the Global Durable Medical Equipment (DME) Industry:
- 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
- Omron Corporation
- Siemens Healthineers AG (Siemens AG)
- Stryker Corporation.
Durable Medical Equipment (DME) Market Report Segmentation:
By Product:
- Personal Mobility Devices
- Wheelchairs
- Scooters
- Walker and Rollators
- Cranes and Crutches
- Door Openers
- Others
- Bathroom Safety Devices and Medical Furniture
- Commodes and Toilets
- Mattress and 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
Personal mobility devices represent the largest segment as they are designed to aid individuals who have mobility issues due to various conditions, such as injuries, disabilities, or age-related impairments.
By End Use:
- Hospital
- Nursing Homes
- Home Healthcare
- Others
Hospital holds the biggest market share due to the comprehensive care requirements among the population.
Regional Insights:
- North America (United States, Canada)
- Asia Pacific (China, Japan, India, South Korea, Australia, Indonesia, Others)
- Europe (Germany, France, United Kingdom, Italy, Spain, Russia, Others)
- Latin America (Brazil, Mexico, Others)
- Middle East and Africa
North America enjoys the leading position in the durable medical equipment (DME) market on account of a well-established healthcare infrastructure, high healthcare expenditure, favorable reimbursement policies, and a large aging population with chronic health conditions.
Global Durable Medical Equipment (DME) Market Trends:
Governing agencies of various countries are implementing policies that play a pivotal role in the accessibility and affordability of DME. In many regions, health policies that include coverage for DME under insurance programs and Medicare benefit in reducing the financial burden on patients. Furthermore, governing authorities are undertaking regulations that promote the safety and efficacy of DME. Subsidies, tax benefits, and funding for research and development (R&D) activities in the medical equipment sector also contribute to the expansion of the DME market.
In addition, the growing demand for home healthcare as a cost-effective alternative to hospital care, especially for long-term treatments, is positively influencing the market.
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