U.S. Durable Medical Equipment Market Worth $92.9 Billion By 2030
U.S. Durable Medical Equipment Industry Overview
The U.S.
durable medical equipment market size was valued at USD 59.7 billion in 2022
and is expected to expand at a compound annual growth rate (CAGR) of 5.7% from
2023 to 2030. The COVID-19 pandemic has affected the supply chain of durable
medical equipment (DME). The
market is majorly driven by the rising product demand due to the growing
geriatric population that is susceptible to various chronic diseases, such as
cancer, diabetes, Cardiovascular Diseases (CVDs), neurological disorders, and
mobility disorders.
The COVID-19 pandemic has initially disrupted the market due to
the lack of accessibility of the products to the customers. The pandemic has
affected the operations and financial condition of various market players. The
DME suppliers have encountered interruptions in the supply chain, such as
significant delays and order cancellations, as a result of public health and
economic emergencies related to the COVID-19 pandemic.
The durable medical equipment suppliers are facing numerous
challenges in serving patients requiring respiratory support and other
DME-related services. Cancer is a leading cause of death globally accounting
for 10 million deaths in 2020. As per the National Cancer Institute Report 2018,
approximately 1.7 million people in the U.S. were diagnosed with cancer.
Gather more insights about the market drivers, restrains
and growth of the U.S. Durable Medical Equipment market
It is predicted that there will be a 70.0% rise in the new cases
of cancer over the next couple of years (about 1.1 million people). The rising
prevalence of neurological diseases, such as Alzheimer’s, Parkinson’s, and
Epilepsy, is also expected to fuel the product demand. As per the statistics of
the Centers for Disease Control and Prevention, in 2020, 5.8 million Americans
were living with Alzheimer’s disease. The rising prevalence of diseases is
expected to result in an increase in demand for DME over the forecast period.
In addition, an increase in healthcare spending across the country is expected
to boost market growth.
The demographic shifts underlie the projected growth in the U.S.
healthcare expenditure from USD 3.5 trillion in 2017 to USD 6.2 trillion in
2028 and account for 20% of the GDP. The anticipated growth in the annual
spending for Medicare (7.9%) is projected to contribute significantly to the
increase in the national health expenditure over the forecast period. Since its
inception, Medicare has accounted for an increasing proportion of the total
healthcare expenditure. Medicare has covered 18.4% of U.S. Americans in 2020
and in 2021, more than 26 million people enrolled in Medicare Advantage Plan.
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U.S. Durable Medical Equipment Market
Segmentation
Grand View
Research has segmented the U.S. durable medical equipment market based on
product and end-use:
U.S. Durable
Medical Equipment Product Outlook (Revenue, USD Million, 2018 - 2030)
·
Personal
Mobility Devices
o Wheelchairs
o Electric
Wheelchairs
o Manual
Wheelchairs
o Scooters
o Walker and
Rollators
o Canes and
Crutches
o Door Openers
o Other Devices
·
Bathroom Safety
Devices and Medical Furniture
o Commodes and
Toilets
o Mattress &
Bedding Devices
·
Monitoring and
Therapeutic Devices
o Blood Glucose
Monitors
o Continuous
Passive Motion (CPM)
o Infusion Pumps
o Nebulizers
o Oxygen Equipment
o Continuous
Positive Airway Pressure (CPAP)
o Suction Pumps
o Traction
Equipment
o Others Equipment
U.S. Durable
Medical Equipment End-use Outlook (Revenue, USD Million, 2018 - 2030)
·
Hospitals
·
Specialty
Clinics
·
Ambulatory
Surgical Centers
·
Diagnostic
Centers
·
Home Healthcare
·
Others
Market Share Insights
·
December
2020: Arjo completed the acquisition of AirPal, which is likely to
strengthen Arjo’s Patient Handling portfolio.
Key Companies profiled:
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.
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a free sample PDF of the U.S.
Durable Medical Equipment Market Intelligence Study, published by Grand View
Research.
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