Durable Medical Equipment (DME) refers to medical devices that are ordered by a doctor for use in the home. This includes items such as wheelchairs, hospital beds, walkers, oxygen equipment and incontinence supplies. With an aging global population and rising prevalence of chronic diseases, the need for DME is growing. The global DME market allows patients to receive long-term care at home instead of hospitals or nursing homes. This reduces healthcare costs and improves patient quality of life.
The global Durable Medical Equipment Market is estimated to be valued at US$ 5,949.9 Mn in 2023 and is expected to exhibit a CAGR of 10% over the forecast period 2023 to 2030, as highlighted in a new report published by Coherent Market Insights.
Market key trends:
The development of advanced DME products integrated with sensors and connectivity solutions is one of the primary trends driving market growth. These smart medical devices can automate tasks, monitor health vitals remotely and automatically alert caregivers in case of emergencies. This allows independent living for patients and reduces burden on healthcare systems. Major DME manufacturers are focusing on developing innovative products with AI and IoT capabilities to effectively manage chronic conditions from home. This evolving healthcare infrastructure is rapidly accelerating demand in the global durable medical equipment market over the forecast period.
Segment Analysis
The global durable medical equipment market is dominated by the mobility aids segment, which accounted for a market share of 29.5% in 2024. The growing elderly population is a key factor driving the mobility aids segment as aged patients frequently require devices like wheelchairs, walkers, and scooters for mobility. Within mobility aids, power wheelchairs dominated the segment in 2024 with a share of over 50% due to the convenience and support provided for independent mobility among severely disabled patients.
Key Takeaways
The global durable medical equipment market is expected to witness high growth over the forecast period of 2023 to 2030 driven by the rising healthcare expenditure, increasing incidence of chronic diseases, growing geriatric population, and technological advancements.
Regional analysis: North America dominated the global durable medical equipment market in 2024 with a share of over 40% due to the presence of advanced healthcare infrastructure and favorable reimbursement policies for medical devices in countries like the US and Canada. The Asia Pacific region is expected to witness the fastest growth over the forecast period due to the increasing healthcare investments by governments and expanding medical tourism industry in emerging countries like India and China.
Key players operating in the durable medical equipment market are Stryker Corporation, Baxter International, Inc., Medtronic plc., Becton, Dickinson and Company, Medline Industries, Inc., Invacare Corporation, Sunrise Medical (US) LLC, ResMed, Inc., Drive DeVilbiss Healthcare, Inc. (Medical Depot Inc.), and Hill-Rom Holdings, Inc. Stryker Corporation dominated the global market in 2024 with a share of over 15% owing to its comprehensive product portfolio and strong geographic presence across major markets.
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