U.S. Durable Medical Equipment Industry Overview
The U.S. durable medical equipment market size is expected to reach USD 92.8 billion by 2030, according to a new report by Grand View Research, Inc. It is expected to expand at a CAGR of 5.7% from 2022 to 2030. The rising prevalence of chronic diseases and increasing penetration of home healthcare services and staff are the key factors driving the product demand. The demand for durable medical equipment (DME) is projected to witness a rise during the forecast period due to high adoption.
The COVID-19 pandemic has disrupted the transportation and supply chain of the durable medical equipment market due to the restrictions imposed by the government. As the demand for the equipment increases for medical purposes to fight against COVID-19, the supply of the product also increases. COVID-19 led to an increase in the demand for medical beds and therapeutic mattresses, and volumes were also high within the U.S. rental operations.
U.S. Durable Medical Equipment Market Segmentation
Grand View Research has segmented the U.S. durable medical equipment market report based on product:
Based on the Product Insights, the market is segmented into personal mobility devices, bathroom safety devices & medical furniture and monitoring & therapeutic devices
The monitoring and therapeutic devices segment held the largest revenue share of over 85.0% in 2021 due to the increasing prevalence of chronic diseases requiring long-term care.
In addition, increasing patient preference for at-home medical treatment or remote medical services over an in-patient setting is contributing to the segment growth.
In monitoring and therapeutic devices, neuromonitoring techniques are expected to witness growth over the forecast period as they are becoming a part of standard medical practices and are routinely used during many surgical procedures.
The personal mobility devices segment is anticipated to register the fastest growth rate of 6.0% during the forecast period.
The growing geriatric population and rising chronic illnesses are likely to create more need and demand for mobility products over the forecast period as these factors generally reduce the ability to move and perform physical tasks to maintain independent functioning.
Moreover, aged people are more prone to falls, which can cause fatal or non-fatal injuries.
Key Companies Profile & Market Share Insights
The key companies are continuously focusing on initiatives such as mergers & acquisitions, regional expansion, and novel product development. The market players are introducing innovative technologies and products to expand their product portfolio to capture a large share in the market. The market consists of big players as well as local distributors and suppliers. The key players are focusing on providing cost-efficient products, which can be used remotely.
Some prominent players in the U.S. durable medical equipment include:
Invacare Corp.
Sunrise Medical
Arjo
Medline Industries, Inc.
GF Healthcare Products, Inc.
Carex Health Brands, Inc.
Cardinal Health
Drive DeVilbiss Healthcare
NOVA Medical Products
Kaye Products, Inc.
Market Industry Development
December 2020: Arjo completed the acquisition of AirPal, which is likely to strengthen Arjo’s Patient Handling portfolio.
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About Grand View Research
Grand View Research, U.S.-based market research and consulting company, provides syndicated as well as customized research reports and consulting services. Registered in California and headquartered in San Francisco, the company comprises over 425 analysts and consultants, adding more than 1200 market research reports to its vast database each year. These reports offer in-depth analysis on 46 industries across 25 major countries worldwide. With the help of an interactive market intelligence platform, Grand View Research Helps Fortune 500 companies and renowned academic institutes understand the global and regional business environment and gauge the opportunities that lie ahead.