Global Durable Medical Equipment Market
Medical Equipment

Durable Medical Equipment Market Size, Share, And Growth Rate Analysis 2023

The Business Research Company’s global market reports are now updated with the latest market sizing information for the year 2023 and forecasted to 2032

The Business Research Company’s durable medical equipment market report forecasts the durable medical equipment market size to grow to $265.87 Billion by 2027, with a CAGR (compound annual growth rate) of more than 6%.

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Durable Medical Equipment Market Size Forecast
The global durable medical equipment market is expected to grow from $193.62 billion in 2022 to $208.10 billion in 2023 at a compound annual growth rate (CAGR) of 7.5%. The Russia-Ukraine war disrupted the chances of global economic recovery from the COVID-19 pandemic, at least in the short term. The war between these two countries has led to economic sanctions on multiple countries, a surge in commodity prices, and supply chain disruptions, causing inflation across goods and services and affecting many markets across the globe. The global durable medical equipment market size is expected to reach $265.87 billion in 2027 at a CAGR of 6.3%.

North America held the largest durable medical equipment market share.

Key Durable Medical Equipment Market Driver ­– Rise In The Aging Population
According to the United Nations, a US-based intergovernmental organisation that ensures international peace and security, the global population aged 65 and over is predicted to expand from 761 million in 2021 to 1.6 billion in 2050 in January 2023. As a result, the ageing population is propelling the expansion of the durable medical equipment market.

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Key Durable Medical Equipment Market Trend – Technological Advancement
Major companies operating in the durable medical equipment market are adopting new technologies to strengthen their position in the market. For instance, in March 2023, Dexcom, a US-based developer, manufacturer, producer, and distributor of continuous glucose monitoring systems, launched Dexcom G6 CGM System for all eligible patients with type 1 and type 2 diabetes in Canada. A small, wearable sensor and transmitter are used in this system to measure and send glucose levels wirelessly to a smart device continuously.

Durable Medical Equipment Market Segment
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

Durable Medical Equipment Market Major Players and Strategies
Major players in the durable medical equipment market are 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, and ArjoHuntleigh.

Atlas Copco, a Swedish manufacturer of industrial tools and equipment, paid an undisclosed sum to buy Shandong Meditech Medical Technology in December 2022. Atlas strengthens its product and experience through this acquisition, with the goal of increasing its presence in the healthcare market, the world’s largest oxygen market. Meditech Equipment Co. Ltd. is a medical equipment and oxygen generator manufacturer established in China.

The Durable Medical Equipment Global Market Report 2023 covers regional data on durable medical equipment market size, durable medical equipment market trends and drivers, opportunities, strategies, and durable medical equipment market competitor analysis. The countries covered in the durable medical equipment market report are Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, the UK, and the USA, and the major seven regions are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, the Middle East, and Africa.

Durable medical equipment (DME) is any medical device or supply that is required to sustain a person’s health and can be used for an extended period of time. A doctor, a qualified nurse practitioner, a physician assistant, or a clinical nurse specialist order them for a patient’s routine, long-term use.

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