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What Is the Growth Rate of the Durable Medical Equipment Market?

In recent times, the durable medical equipment market has experienced significant growth. The market, valued at $216.92 billion in 2024, is projected to reach $231.73 billion in 2025, with a Compound Annual Growth Rate (CAGR) of 6.8%. Factors contributing to the growth during the historical period include the prevalence of chronic diseases, reimbursement policies, health awareness and education, healthcare infrastructure development, governmental initiatives, global disease outbreaks, and patient empowerment.

What Growth Rate Is Forecasted for the Durable Medical Equipment Market by 2029?

Expectations are high for robust expansion in the durable medical equipment market, with predictions suggesting its growth to $316.13 billion by 2029, facilitated by a compound annual growth rate (CAGR) of 8.1%. Factors contributing to this prospective growth within the forecast period range from the proliferation of telehealth and value-based healthcare, to rising healthcare expenses, global health issues, concerns over data security, and emphasis on preventive healthcare, amidst regulatory changes. The forecast period will also see predominant trends such as swift technological progress, the adoption of lightweight and portable solutions, continued focus on preventive healthcare, customization of healthcare solutions, and growing trends in home healthcare.

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Which Key Companies Are Shaping the Future of the Durable Medical Equipment Market?

Major companies operating in the durable medical equipment market include Invacare Corporation, GF Health Products Inc., Stryker Corporation, Hill-Rom Holdings Inc., Siemens Healthcare GmbH, Koninklijke Philips NV, Sunrise Medical Inc., Drive Medical, Masimo Corporation, Becton Dickinson and Company, Getinge AB, Medtronic PLC, Nihon Kohden Corporation, Mindray Medical International Limited, ArjoHuntleigh, Permobil AB, ResMed Inc., OMRON Corporation, Medline Industries Inc., Abbott, Compass Health Brands, GE Electric Company, Pride Mobility, Baxter International Inc., Roche Diagnostic Equipment, SAMAPLAST

Which Factors Are Driving Demand in the Durable Medical Equipment Industry?

The progression of the older population is anticipated to accelerate the expansion of the durable medical equipment market. A growing aged population pertains to the augmentation in the count of elderly individuals as a result of shifts in a population’s age structure. Diseases associated with aging are frequently encountered by the elderly population that necessitate the usage of durable medical equipment like vital sign monitors, blood glucose analyzers, infusion pumps, nebulizers, and others over an extended period. Hence, the progressive older population fuels the growth of the robust medical equipment market. To illustrate, as of January 2023, the United Nations, a United States-based intergovernmental organization that ensures worldwide peace and security, projected that the global population aged 65 or older will surge from 761 million in 2021 to 1.6 billion in 2050. Thus, the burgeoning older population stimulates the expansion of the durable medical equipment market.

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How Is the Durable Medical Equipment Market Segmented by Several Divisions?

The durable medical equipment market covered in this report is segmented –

1) By Product: Personal Mobility Devices, Bathroom Safety Devices And Medical Furniture, Monitoring And Therapeutic Devices, Other Products

2) By Payer: Public, Private, Out-Of-Pocket

3) By End-Use: Hospitals, Nursing Homes, Home Healthcare, Other End-Uses

Subsegments:

1) By Personal Mobility Devices: Wheelchairs, Scooters, Walkers And Canes, Crutches

2) By Bathroom Safety Devices And Medical Furniture: Grab Bars, Shower Chairs, Commodes, Hospital Beds, Bedside Tables

3) By Monitoring And Therapeutic Devices: Blood Pressure Monitors, Glucose Monitors, Nebulizers, CPAP Machines

4) By Other Products: Orthotic Devices, Respiratory Equipment, Mobility Aids

What are the Emerging Market Trends Driving the Growth of the Durable Medical Equipment Industry?

The increasing relevance of technological innovation is a notable trend within the durable medical equipment market. Major players in this market are leveraging new technologies to solidify their market position. For example, in March 2023, Dexcom, an American company specializing in the development, production, and distribution of ongoing glucose monitoring systems, introduced the Dexcom G6 CGM system. This system, which is available to all qualifying patients with type 1 and type 2 diabetes in Canada, uses a small, wearable sensor and transmitter to continuously monitor and wirelessly transmit glucose levels to a smart device.

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Which Regions Are Driving Growth in the Durable Medical Equipment Market?

North America was the largest region in the durable medical equipment market in 2024. The regions covered in the durable medical equipment market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa

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This Report Delivers Insight On:

1. How big is the durable medical equipment market, and how is it changing globally?

2. Who are the major companies in the durable medical equipment market, and how are they performing?

3. What are the key opportunities and risks in the durable medical equipment market right now?

4. Which products or customer segments are growing the most in the durable medical equipment market?

5. What factors are helping or slowing down the growth of the durable medical equipment market?

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