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Durable Medical Equipment - Global Market Trajectory & Analytics

  • ID: 5141557
  • Report
  • April 2022
  • Region: Global
  • 1294 Pages
  • Global Industry Analysts, Inc

FEATURED COMPANIES

  • Hill-Rom Holdings, Inc.
  • Invacare Corporation
  • Medline Industries, Inc.
  • Medtronic PLC
  • Resmed Inc.
  • Stryker Corporation

Global Durable Medical Equipment Market to Reach US$273.5 Billion by the Year 2026


Durable Medical Equipment (DME) represents the non-disposable medical equipment that are extensively used in hospitals, clinics as well as in home care settings for aiding patients lead better lives despite their ailments. A few products also aid in the diagnosis and treatment of illnesses and injuries and support disabled body parts and prevent such conditions from worsening. Increasing prevalence of various diseases and conditions that necessitate use of the DME constitutes the major growth promoting factor for the market. Prevalence of cardiac disorders, ophthalmic ailments, gynecological complications, neurological conditions and cancers among several other diseases is increasing in countries across the world, contributing towards DME market growth at the global level. The number of geriatric patients is also increasing in countries across the world. This constitutes another important market growth promoting factor. By 2050, around 80 percent of the elderly population would be residing in middle- and low-income countries. Demand for products would be high from both home healthcare facilities and PoC treatment facilities. Centers that take care of the elderly are also increasing in number owing to growing proportion of the aged in populations of countries. Another important market growth promoting factor is the rapid technological advancement in the area. Sophisticated products with better features are brought to the market on a regular basis by major companies as well as innovative start-ups. The latest DME are incorporating advanced technologies like AI for ensuring enhanced patient comfort, which is another prominent market growth inducing factor. Demand for the products surged in the recent years, also due to the pandemic. The COVID-19 pandemic and rise in the number of hospitals led to demand surge for various DME products. Another major trend, influencing market growth positively, is the increasing prominence of home care settings in managing various medical conditions.

Amid the COVID-19 crisis, the global market for Durable Medical Equipment estimated at US$207.1 Billion in the year 2022, is projected to reach a revised size of US$273.5 Billion by 2026, growing at a CAGR of 6.8% over the analysis period. Monitoring & Therapeutic Devices, one of the segments analyzed in the report, is projected to grow at a 6.8% CAGR to reach US$235.7 Billion by the end of the analysis period. After a thorough analysis of the business implications of the pandemic and its induced economic crisis, growth in the Personal Mobility Devices segment is readjusted to a revised 7.6% CAGR for the next 7-year period. This segment currently accounts for a 11.5% share of the global Durable Medical Equipment market. The DME category of therapeutic and monitoring devices in particular holds immense promise for future growth of the overall market. There are again various types of these devices including infusion pumps, vital sign monitors, CPAP devices, nebulizers and blood glucose analyzers among others. Growing prevalence of lifestyle diseases requiring routine analysis of vitals of patients creates strong demand growth scenario for these monitoring devices. Cancer, hyperglycemia and diabetes cases are monitored using these devices.



The U.S. Market is Estimated at $77.9 Billion in 2022, While China is Forecast to Reach $27.6 Billion by 2026


The Durable Medical Equipment market in the U.S. is estimated at US$77.9 Billion in the year 2022. The country currently accounts for a 37.76% share in the global market. China, the world's second largest economy, is forecast to reach an estimated market size of US$27.6 Billion in the year 2026 trailing a CAGR of 9.8% through the analysis period. Among the other noteworthy geographic markets are Japan and Canada, each forecast to grow at 5% and 6.7% respectively over the analysis period. Within Europe, Germany is forecast to grow at approximately 6% CAGR while Rest of European market (as defined in the study) will reach US$14.4 Billion by the close of the analysis period. North America dominates the global market for DME. Incidences of cancer, rheumatoid arthritis and multiple sclerosis among other chronic diseases is rising rapidly in the US, the largest market in the region. Companies offering DME to the US market remain focused on developing innovative products to meet consumer demands. Europe constitutes the second largest regional market for DME driven by the factor of increasing geriatric population and number of surgeries. The market in Asia-Pacific however, is anticipated to report the highest growth over the coming years driven by increased investments in healthcare sector development, especially in emerging countries of the region.

Personal Mobility Devices Segment to Reach $32.9 Billion by 2026


Personal mobility devices market worldwide is witnessing healthy growth led by the consistent rise in number of disabilities, and increasing number of trauma and accident cases. An aging global population prone to various chronic diseases that restrict mobility is also leading to growth in the personal mobility devices market. Also fueling growth is the focus on new and advanced product development. The growing number of people affected by arthritis for instance is expected to drive need for personal mobility devices. The market is also favored by positive reimbursement scenario in countries such as the US and the adoption of schemes to provide assistance to people with disabilities. In the Personal Mobility Devices segment, USA, Canada, Japan, China and Europe will drive the 7.6% CAGR estimated for this segment. These regional markets accounting for a combined market size of US$18.2 Billion will reach a projected size of US$29.9 Billion by the close of the analysis period. China will remain among the fastest growing in this cluster of regional markets. Led by countries such as Australia, India, and South Korea, the market in Asia-Pacific is forecast to reach US$2.5 Billion by the year 2026, while Latin America will expand at a 8.9% CAGR through the analysis period.

Select Competitors (Total 537 Featured) -

  • Baxter International, Inc.
  • Becton, Dickinson and Company
  • Drive DeVilbiss Healthcare
  • Hill-Rom Holdings, Inc.
  • Invacare Corporation
  • Medline Industries, Inc.
  • Medtronic PLC
  • Resmed Inc.
  • Stryker Corporation
  • Sunrise Medical (US) LLC

What's New for 2022?

  • Global competitiveness and key competitor percentage market shares
  • Market presence across multiple geographies - Strong/Active/Niche/Trivial
  • Online interactive peer-to-peer collaborative bespoke updates
  • Access to the publisher's digital archives and Research Platform
  • Complimentary updates for one year
Frequently Asked Questions about the Global Market for Durable Medical Equipment

What is the estimated value of the Global Market for Durable Medical Equipment?

The Global Market for Durable Medical Equipment was estimated to be valued at $207.1 Billion in 2022.

What is the growth rate of the Global Market for Durable Medical Equipment?

The growth rate of the Global Market for Durable Medical Equipment is 7.2%, with an estimated value of $273.5 Billion by 2026.

What is the forecasted size of the Global Market for Durable Medical Equipment?

The Global Market for Durable Medical Equipment is estimated to be worth $273.5 Billion by 2026.

Who are the key companies in the Global Market for Durable Medical Equipment?

Key companies in the Global Market for Durable Medical Equipment include Baxter International, Inc., Becton, Dickinson and Company, Drive DeVilbiss Healthcare, Hill, Rom Holdings, Inc., Invacare Corporation, Medline Industries, Inc., Medtronic PLC and Stryker Corporation.
Note: Product cover images may vary from those shown

FEATURED COMPANIES

  • Hill-Rom Holdings, Inc.
  • Invacare Corporation
  • Medline Industries, Inc.
  • Medtronic PLC
  • Resmed Inc.
  • Stryker Corporation

I. METHODOLOGY


II. EXECUTIVE SUMMARY

1. MARKET OVERVIEW

  • Impact of Covid-19 and a Looming Global Recession
  • Year 2021 and Beyond
  • EXHIBIT 1: World Economic Growth Projections (Real GDP, Annual % Change) for 2020 through 2023
  • COVID-19 Impact on Durable Medical Equipment (DME)
  • Competition
  • EXHIBIT 2: Durable Medical Equipment - Global Key Competitors Percentage Market Share in 2022 (E)
  • Competitive Market Presence - Strong/Active/Niche/Trivial for 475 Players Worldwide in 2022 (E)
  • A Prelude to Durable Medical Equipment (DME)
  • Global Market Prospects and Outlook
  • Durable Medical Equipment Market Set to Witness Significant Growth
  • Developed Regions Dominate, Developing to Drive Market Growth
  • Recent Market Activity
  • WORLD BRANDS

2. FOCUS ON SELECT PLAYERS

3. MARKET TRENDS & DRIVERS

  • Rise in Aging Population Drives Demand for Durable Medical Equipment
  • EXHIBIT 3: Global Aging Population Statistics for the 65+ Age Group in Million by Geographic Region for the Years 2019, 2025, 2035 and 2050
  • EXHIBIT 4: Elderly Population (65+ Years) as a % of Total Population by Developed, Less Developed and Least Developed Regions: 2019 & 2030
  • EXHIBIT 5: Life Expectancy at Birth in Years of People in Select Countries for 2020E
  • Alarming Levels of Diabetes Incidence Worldwide Drives Demand for Blood Glucose Monitors Market
  • EXHIBIT 6: World Diabetes and Population Statistics (2019, 2030 & 2045)
  • EXHIBIT 7: Global Prevalence of Diabetes: Number of Adults Diagnosed with Diabetes (in Million) by Gender for 2019, 2030 and 2045
  • EXHIBIT 8: World Diabetes Prevalence (2000-2045)
  • Diabetes Emerges as One of the Leading Causes of Mortality
  • EXHIBIT 9: Diabetes-Related Deaths as % of Total Deaths in Below 60 Years Population by Region: 2019
  • High Prevalence of Respiratory Diseases to Drive Growth of Oxygen Equipment and Nebulizers Market
  • EXHIBIT 10: Global Prevalence of COPD by Age Group: Percentage of Men and Women Affected by the Condition
  • EXHIBIT 11: Global Household COPD Prevalence by Age Group and by Region: In Percentage
  • EXHIBIT 12: Prevalence Percentage of COPD, Asthma, and Allergic Rhinitis for Select Countries: 2016
  • EXHIBIT 13: Chronic Disease Management in Developed Countries (2019): Percentage Distribution of Patient Population by Chronic Disease Type in the US, Germany, and UK
  • Personal Mobility Devices: Need for Mobility Drives Market Growth
  • EXHIBIT 14: Global Personal Mobility Devices Market Breakdown (in %) by Product Type: 2021
  • Favorable Trends in the Personal Mobility Devices Market Strengthen Market Prospects
  • Wheelchairs: Meeting Mobility Needs of the Elderly & Disabled for Personal, Social, and Professional Fulfillment
  • EXHIBIT 15: Global Wheelchairs Market Breakdown by Region/Country (in %): 2021
  • Powered Wheelchairs: Superior Attributes over Manual Wheelchairs Drive Demand
  • High-tech Wheelchairs for Spinal Cord Injury Patients
  • Rising Incidence of Neurological Conditions Drives Market Growth
  • EXHIBIT 16: Annual Incidence of Adult-Onset Neurologic Disorders in the US
  • Technologically Advancements Drive Durable Medical Equipment Market
  • AI & IoT: Inescapable Trends for Durable Medical & Remote Monitoring Equipment
  • Connected Devices: Bright Future of Home Patient Care
  • Advances Crystalizing Value Proposition of Durable Medical Equipment
  • Connected Durable Medical Equipment
  • Reimbursement Remains Key Determinant of Health of Durable Medical Equipment
  • Coverage under Medicare

4. GLOBAL MARKET PERSPECTIVE


III. MARKET ANALYSIS

UNITED STATES

  • Durable Medical Equipment Market Presence - Strong/Active/Niche/Trivial - Key Competitors in the United States for 2022 (E)
  • Market Analytics

CANADA


JAPAN


CHINA

EUROPE

  • Durable Medical Equipment Market Presence - Strong/Active/Niche/Trivial - Key Competitors in Europe for 2022 (E)
  • Market Analytics

FRANCE


GERMANY


ITALY


UNITED KINGDOM


SPAIN


RUSSIA


REST OF EUROPE


ASIA-PACIFIC


AUSTRALIA


INDIA


SOUTH KOREA


REST OF ASIA-PACIFIC


LATIN AMERICA


ARGENTINA


BRAZIL


MEXICO


REST OF LATIN AMERICA


MIDDLE EAST


IRAN


ISRAEL


SAUDI ARABIA


UNITED ARAB EMIRATES


REST OF MIDDLE EAST


AFRICA

IV. COMPETITION

  • Total Companies Profiled: 537
Note: Product cover images may vary from those shown

A selection of companies mentioned in this report includes:

  • Baxter International, Inc.
  • Becton, Dickinson and Company
  • Drive DeVilbiss Healthcare
  • Hill-Rom Holdings, Inc.
  • Invacare Corporation
  • Medline Industries, Inc.
  • Medtronic PLC
  • Resmed Inc.
  • Stryker Corporation
  • Sunrise Medical (US) LLC
Note: Product cover images may vary from those shown