U.S. Durable Medical Equipment Market Size Estimated to Reach USD 109.12 Billion By 2032, at 6.3% CAGR Growth: Polaris Market Research

NEW YORK, Aug. 25, 2023 /PRNewswire/ -- A latest research report [115+] pages with 360-Degree visibility, titled "U.S. Durable Medical Equipment Market Share, Size, Trends, Industry Analysis Report, By Product (Personal Mobility Devices, Bathroom Safety Devices & Medical Furniture, and Monitoring & Therapeutic Devices); By End User; Segment Forecast, 2023 - 2032" published by Polaris Market Research in its research repository.

"According to research report, the U.S. durable medical equipment market size/share was valued at USD 59.13 billion in 2022 and is expected to touch USD 109.12 Billion By 2032, growing at a CAGR of 6.3% during the forecast period."

U.S. Durable Medical Equipment Market: Report Overview

Durable medical equipment (DME) is medical equipment ordered by a healthcare provider for everyday or extended use. DME includes nebulizers, oxygen tents, CPAP/BiPAP machines, catheters, hospital beds, wheelchairs, blood glucose monitors. DME allows patients with a debilitating medical condition, injury, or diseases to obtain a higher quality of life while living at home. Many health insurance plans provide coverage for durable medical equipment so that it need not be paid for out of pocket

DME may be ordered by a healthcare provider to aid a patient's temporary disability or to provide long-term patient care, for example, a mechanical ventilator for a patient with advanced lung disease. However, bandages, face masks, and rubber gloves are examples of consumable medical items that are not regarded as DME under Medicare. The growing healthcare industry is prominently driving the U.S. durable medical equipment market size growth.

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(The sample of this report is readily available on request. The report sample contains a brief introduction to the research report, Table of Contents, Graphical introduction of regional analysis, Top players in the market with their revenue analysis and our research methodology.)

Our Sample Report May Includes:

2032 Updated Report Introduction, Overview, and In-depth industry analysis.

115+ Pages Research Report (Inclusion of Updated Research).

Provide Chapter-wise guidance on Request.

2023 Updated Regional Analysis with Graphical Representation of Size, Share & Trends.

Includes Updated List of table & figures.

Updated Report Includes Top Market Players with their Business Strategy, Sales Volume, and Revenue Analysis.

Some of the Top Market Players Covered Are:

Invacare Corporation

Sunrise Medical

ArjoHuntleigh

Hill Rom Inc

Stryker Corporation

Medline Industries Inc.

Drive Medical

GF Health Products Inc.

Carex Health Brands Inc

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U.S. Durable Medical Equipment Market: Report Scope

Report Attribute

Details

Revenue forecast in 2032

USD 109.12 Billion

Market size value in 2023

USD 62.70 Billion

Expected CAGR Growth

6.3% from 2023 – 2032

Base Year

2022

Forecast Year

2023 - 2032

Top Market Players

Invacare Corporation, Sunrise Medical, ArjoHuntleigh, Hill Rom, Inc, Stryker Corporation, Medline Industries Inc., Drive Medical, GF Health Products Inc., and Carex Health Brands, Inc.

Segments Covered

By Return Type, By Service, By End User, By Region

Customization Options

Customized purchase options are available to meet any research needs. Explore customized purchase options

Prominent Growth Driving Factors

Aging population: Rising elderly population in the U.S. is one of the key factor propelling the market growth, as elderly individuals are more likely to require durable medical equipment to manage their healthcare demands.

Prevalence of chronic diseases: Growing prevalence of chronic illnesses like cardiovascular diseases, respiratory disorders, and diabetes are supporting the U.S. durable medical equipment market demand.

Technological developments: Rising technological innovations in medical device technology have led to the advancement of more cutting-edge and efficient DME products, which is fueling the market growth. These developments involve remote monitoring capabilities, enhanced user interfaces, and wireless connectivity.

Advanced DME products: The industry is further witnessing significant growth due to the availability of technologically sophisticated DME products that helps manage and treat chronic illnesses. factors such as the affordability and convenience of home healthcare as well as the aim to decrease readmissions and hospital stays are contributing the U.S. durable medical equipment market growth.

Recent Trends Influencing the Market

Preference for home healthcare: Patients and healthcare providers are becoming more aware of the benefits of treating medical illnesses in the privacy of the patient's own home. DME provides home healthcare by providing patients with the essential tools and equipment to manage their illnesses. This ultimately reduces healthcare costs, enhances patient outcomes, and increases patient convenience. This is one of the prominent U.S. durable medical equipment market trends accelerating the market growth.

Launch of new products: Manufacturers and suppliers of DME are constantly focusing on developing and introducing new products with improved functionality, ease of use, and enhanced patient outcomes. In addition, increasing number of partnerships between healthcare providers, insurance companies, and DME suppliers to simplify the delivery and reimbursement of DME to patients with chronic conditions is further fostering the market growth.

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Segmental Analysis

Monitoring and therapeutic devices accounted for the largest U.S. durable medical equipment market share in 2022

Based on product, monitoring and therapeutic devices category which includes a variety of devices utilized for long duration for diagnosing different diseases such as cardiovascular & neurological, and cancer dominated the market in 2022. Blood sugar monitors, Continuous Passive Motion (CPM), oxygen equipment, infusion pumps, nebulizers, Continuous Positive Airway Pressure (CPAP), suction pumps, traction equipment are some of the examples of monitoring and therapeutic devices.

Further, personal mobility devices are expected to obtain a significant revenue share during the foreseen period owing to the launch of technologically advanced products. Under personal mobility devices segment, the wheelchair category is likely to witness the largest market share due to the rising demand and high usage of powered wheelchairs. Additionally, the walkers & rollators segment is predicted to achieve revenue during the forecast period because of the surging preference among users for premium and customized rollators. Moreover, bathroom safety devices and medical segment is segmented into Commodes and Toilets and Mattress & Bedding Devices. The mattresses and bedding sub-sector is projected to capture greatest market share in the coming years owing to the growing prevalence of chronic and other conditions.

The hospital's segment accounted for a lucrative share in 2022

In terms of end-user U.S. durable medical equipment market segmentation, hospital category registered profitable share in 2022 due to the factors such as rising patient flow, advancement of healthcare infrastructure, and increasing technological developments. Further, ambulatory surgery facilities are becoming more prevalent all over the world. Ambulatory surgery centers are currently operating in over 9,280 locations across the country. In 2016, this number grew from 6100 ASCs. Demand for critical tools and equipment, particularly durable medical equipment, is primarily driven by the rise in the number of ambulatory surgery centers.

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Recent Developments

In March 2022, the FDA approved Biobeat's wearable remote patient monitoring device, enabling healthcare providers to monitor vital signs remotely. This advancement enhances patient care and promotes the adoption of remote monitoring solutions.

Browse the Detail Report "U.S. Durable Medical Equipment Market Share, Size, Trends, Industry Analysis Report, By Product (Personal Mobility Devices, Bathroom Safety Devices & Medical Furniture, and Monitoring & Therapeutic Devices); By End User; Segment Forecast, 2023 - 2032" with in-depth TOC: https://polarismarketresearch.com/industry-analysis/us-durable-medical-equipment-market

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The Report Answers Questions Such as

What is the market size and forecast of the industry?

What are the inhibiting factors and impact of key factors shaping the market during the forecast period?

Who are the key players operating in this market?

Which application/end-user or product type may seek incremental growth prospects?

What are the most significant challenges the market could face in the future?

What growth strategies are the players considering to stay in the market?

Polaris Market Research has segmented the U.S. Durable Medical Equipment market report based on product and end user:

By Product Outlook

Personal Mobility Devices

Bathroom Safety Devices & Medical Furniture

Monitoring & Therapeutic Devices

By End User Outlook

About Polaris Market Research:

Polaris Market Research is a global market research and consulting company. The company specializes in providing exceptional market intelligence and in-depth business research services for PMR's clientele spread across different enterprises. We at Polaris are obliged to serve PMR's diverse customer base present across the industries of healthcare, technology, semi-conductors and chemicals among various other industries present around the world. We strive to provide PMR's customers with updated information on innovative technologies, high growth markets, emerging business environments and latest business-centric applications, thereby helping them always to make informed decisions and leverage new opportunities. Adept with a highly competent, experienced and extremely qualified team of experts comprising SMEs, analysts and consultants, we at Polaris endeavor to deliver value-added business solutions to PMR's customers.

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