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What Is The Predicted Market Size Of The Durable Medical Equipment Industry By 2029?

The market for durable medical equipment has experienced robust growth in the past few years. It is projected to expand from a size of $216.92 billion in 2024 to $229.95 billion in 2025, recording a compound annual growth rate (CAGR) of 6.0%. Factors that have contributed to the growth during the historic period include prevalence of chronic diseases, reimbursement policies, enhanced awareness and education, development of healthcare infrastructure, government initiatives, global disease outbreaks, as well as patient empowerment.

The market for durable medical equipment is projected to witness significant expansion in coming years. Its value is predicted to escalate to $311.53 billion by 2029, with a compound annual growth rate (CAGR) of 7.9%. This anticipated growth is considered to be a result of several factors including the growth of telehealth, value-focused healthcare, rising costs of health services, worldwide health issues, concerns about data safety, and emphasis on preventive healthcare and regulatory changes. Noteworthy trends during the forecast period are expected to be swift advancements in technology, lightweight and user-friendly solutions, focus on preventive healthcare, customization in healthcare solutions, and the shift towards home healthcare.

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Which Factors Are Steering Growth In The Durable Medical Equipment Market?

The escalating number of elderly people is anticipated to boost the expansion of the durable medical equipment market in the future. An aging population is a term that refers to a surge in the quantity of older individuals resulting from alterations in the age distribution of a population. Aging-associated diseases are most commonly observed in this aging population that necessitates the long-term use of durable medical equipment like blood glucose analyzers, vital sign monitors, infusion pumps, nebulizers, among others. Consequently, the burgeoning aging population drives the durable medical equipment market’s growth. For example, the United Nations, an intergovernmental organization based in the US aimed at maintaining global peace and security, projected in January 2023 that the world population aged 65 years or older would rise from 761 million in 2021 to 1.6 billion in 2050. Thus, the growth of the durable medical equipment market is fueled by the increasing number of aged individuals.

Which Segment Accounts For The Largest Share In The Durable Medical Equipment Market?

The durable medical equipmentmarket 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

Which Long-Term Trends Will Play A Crucial Role In The Durable Medical Equipment Market?

The surge in technological innovation is a notable trend gaining traction in the durable medical equipment market. Prominent corporations in this market are embracing cutting-edge technologies to fortify their market standing. For example, in March 2023, Dexcom, an American firm specializing in the development, manufacturing, production, and distribution of continuous glucose monitoring systems, introduced the Dexcom G6 CGM System for all qualified patients suffering from type 1 and type 2 diabetes in Canada. The system uses a small wearable sensor and transmitter to continually measure and wirelessly transmit glucose levels to a smart device.

Who Are The Dominant Players In The Durable Medical Equipment Market Today?

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

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What Regional Factors Are Accelerating 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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