Durable Medical Equipment Market with COVID-19 Impact Analysis, By Product (Personal Mobility Devices, Bathroom Safety Devices And Medical Furniture, and Monitoring And Therapeutic Devices), By End-use, and By Region Industry Analysis, Market Size, Market Share & Forecast from 2022-2028
REPORT HIGHLIGHT
The Durable Medical Equipment Market size was valued at USD 198,005.8 Million in 2021, expanding at a CAGR of 6.6% from 2022 to 2028.
Any medical device used at home to improve quality of life is considered durable medical equipment (DME), and it is a benefit that is now covered by the majority of insurance policies. DME consists of home-use wheelchairs, hospital beds, oxygen tents, nebulizers, catheters, and iron lungs.
Market Dynamics:
One of the primary factors considerably influencing the market growth is the rising incidence of cancer, cardiac disorders, neurological issues, ophthalmic illnesses, and gynaecological complications worldwide. The market is expanding as a result of the growing elderly population, who are more likely to have disabilities, as well as the rise in elderly care facilities. Additionally, DME is rapidly expanding in popularity because to its widespread use in post-operative long-term care.
Another aspect driving growth is the release of a variety of technologically improved goods that guarantee patient comfort and portability, as well as the incorporation of AI technology into medical equipment. In addition, the coronavirus disease (COVID-19) outbreak has caused a surge in demand for DME as hospitals and healthcare systems around the world look to increase their capacity for patient treatment. The emergence of more skilled professionals, expanding hospital enrollment, increased spending on healthcare infrastructure, and stronger DME product coverage and reimbursement policies are all anticipated to have a significant impact on the market in the years to come.
COVID-19 Impact:
The market for durable medical equipment was significantly impacted by the COVID-19 epidemic. Many people with long-term illnesses or physical limitations were unable to adhere to the protocols and recommendations intended to stop the spread of COVID-19. For instance, a person with a disability was unable to live completely alone because they required assistance from family members or other caretakers. Due to the COVID-19 public health emergency, there was a rise in the need for durable medical equipment for patient monitoring and expanding the capacity of local hospitals and healthcare systems through temporary expansion sites. Manufacturers from diverse sectors of the economy that are not typically linked with the production of medical devices were looking for resources to help them produce and market these items in order to address this requirement. For instance, in May 2020, the Railway Board of India issued necessary instructions to the General Managers of the production units to explore the feasibility of manufacturing items like simple hospital beds (without mattresses) and stretchers.
Segment Analysis:
Based on product, the global market is segmented into personal mobility devices, bathroom safety devices and medical furniture, monitoring and therapeutic devices, and others. The monitoring and therapeutic devices segment held the largest market share in 2021 and is expected to show its dominance during the forecast period. The growth in the segment is attributed to the growing incidence of lifestyle-related diseases, which need vital statistics analysis, and increasing demand for wireless monitoring devices.
Based on end-use, the market is bifurcated into hospitals, nursing homes, home healthcare, and others. The hospitals segment is expected to dominate the market during the forecast period due to the increasing chronic diseases globally and increased financing and services capabilities of these healthcare settings.
Geography Insights:
In 2021, North America had the most market share, and it is anticipated that it would continue to rule the market during the study period. The United States has quickly embraced new technology, which has increased its market share. The presence of top manufacturers and the rapid uptake of cutting-edge products are expected to accelerate the region's growth. To win a sizable industry share, the US market is constantly creating high-tech, low-cost medical gadgets for patients. Additionally, factors contributing to the regional growth include the rising number of hospitals coupled with the ageing population.
Recent Development:
- In March 2022, the Dexcom G7 Continuous Glucose Monitoring System for people with diabetes in European region, aged two and older, including pregnant women, has been given the CE Mark (Conformité Européenne) by DexCom Inc.
- In January 2022, ASPIRE introduced the ASPIRE SOCIALITE WHEELCHAIR in Australia market. A wide spectrum of users can use the Aspire Socialite, an ultra-lightweight transport chair with a safe operating load capacity of 115kg.
SCOPE OF THE REPORT
The scope of this report covers the market by its major segments, which include as follows:
GLOBAL DURABLE MEDICAL EQUIPMENT MARKET KEY PLAYERS
- Stryker Corporation
- ArjoHuntleigh
- Invacare Corporation
- Hill Rom, Inc.
- Drive Medical
- GF Health Products, Inc.
- Sunrise Medical
- Medline Industries
- Hill Rom, Inc.
- Carex Health Brands, Inc
- Becton, Dickinson and Company
- General Electric Company
- Medtronic PLC
- Compass Health Brands
GLOBAL DURABLE MEDICAL EQUIPMENT MARKET, BY PRODUCT
- Personal Mobility Devices
- Bathroom Safety Devices And Medical Furniture
- Monitoring And Therapeutic Devices
- Others
GLOBAL DURABLE MEDICAL EQUIPMENT MARKET, BY END-USE
- Hospitals
- Nursing Homes
- Home Healthcare
- Others
GLOBAL DURABLE MEDICAL EQUIPMENT MARKET, BY REGION
- North America
- The U.S.
- Canada
- Europe
- Germany
- France
- Italy
- Spain
- United Kingdom
- Russia
- Netherlands
- Sweden
- Poland
- Rest of Europe
- Asia Pacific
- India
- China
- South Korea
- Japan
- Australia
- Thailand
- Indonesia
- Philippines
- Rest of APAC
- Latin America
- Brazil
- Mexico
- Argentina
- Colombia
- Rest of LATAM
- The Middle East and Africa
- Saudi Arabia
- United Arab Emirates
- Israel
- Turkey
- Algeria
- Egypt
- Rest of MEA
TABLE OF CONTENT
1. Durable Medical Equipment Market Overview
1.1. Study Scope
2. Executive Summary
2.1. Market Snippet
2.1.1. Market Snippet by Product
2.1.2. Market Snippet by End-use
2.1.3. Market Snippet by Region
2.2. Competitive Insights
3. Durable Medical Equipment Key Market Trends
3.1. Market Drivers
3.1.1. Impact Analysis of Market Drivers
3.2. Market Restraints
3.2.1. Impact Analysis of Market Restraints
3.3. Market Opportunities
3.4. Market Future Trends
4. Durable Medical Equipment Industry Study
4.1. PEST Analysis
4.2. Porter’s Five Forces Analysis
4.3. Growth Prospect Mapping
4.4. Regulatory Framework Analysis
5. Durable Medical Equipment Market: COVID-19 Impact Analysis
5.1. Pre-COVID-19 Impact Analysis
5.2. Post-COVID-19 Impact Analysis
5.2.1. Top Performing Segments
5.2.2. Marginal Growth Segments
5.2.3. Top Looser Segments
5.2.4. Marginal Loss Segments
6. Durable Medical Equipment Market Landscape
6.1. Market Share Analysis, 2021
6.2. Breakdown Data, by Key Manufacturer
6.2.1. Established Players’ Analysis
6.2.2. Emerging Players’ Analysis
7. Durable Medical Equipment Market – By Product
7.1. Overview
7.1.1. Segment Share Analysis, By Product, 2021 & 2028 (%)
7.1.2. Personal Mobility Devices
7.1.3. Bathroom Safety Devices And Medical Furniture
7.1.4. Monitoring And Therapeutic Devices
7.1.5. Others
8. Durable Medical Equipment Market – By End-use
8.1. Overview
8.1.1. Segment Share Analysis, By End-use, 2021 & 2028 (%)
8.1.2. Hospitals
8.1.3. Nursing Homes
8.1.4. Home Healthcare
8.1.5. Others
9. Durable Medical Equipment Market– By Geography
9.1. Introduction
9.1.1. Segment Share Analysis, By Geography, 2021 & 2028 (%)
9.2. North America
9.2.1. Overview
9.2.2. Key Manufacturers in North America
9.2.3. North America Market Size and Forecast, By Country, 2017 - 2028 (US$ Million)
9.2.4. North America Market Size and Forecast, By Product, 2017 - 2028 (US$ Million)
9.2.5. North America Market Size and Forecast, By End-use, 2017 - 2028 (US$ Million)
9.2.6. U.S.
9.2.6.1. Overview
9.2.6.2. Market Analysis, Forecast, and Y-O-Y Growth Rate, 2017 - 2028, (US$ Million)
9.2.6.3. U.S. Market Size and Forecast, By Product, 2017 - 2028 (US$ Million)
9.2.6.4. U.S. Market Size and Forecast, By End-use, 2017 - 2028 (US$ Million)
9.2.7. Canada
9.2.7.1. Overview
9.2.7.2. Market Analysis, Forecast, and Y-O-Y Growth Rate, 2017 - 2028, (US$ Million)
9.2.7.3. Canada Market Size and Forecast, By Product, 2017 - 2028 (US$ Million)
9.2.7.4. Canada Market Size and Forecast, By End-use, 2017 - 2028 (US$ Million)
9.3. Europe
9.3.1. Overview
9.3.2. Key Manufacturers in Europe
9.3.3. Europe Market Size and Forecast, By Country, 2017 - 2028 (US$ Million)
9.3.4. Europe Market Size and Forecast, By Product, 2017 - 2028 (US$ Million)
9.3.5. Europe Market Size and Forecast, By End-use, 2017 - 2028 (US$ Million)
9.3.6. Germany
9.3.6.1. Overview
9.3.6.2. Market Analysis, Forecast, and Y-O-Y Growth Rate, 2017 - 2028, (US$ Million)
9.3.6.3. Germany Market Size and Forecast, By Product, 2017 - 2028 (US$ Million)
9.3.6.4. Germany Market Size and Forecast, By End-use, 2017 - 2028 (US$ Million)
9.3.7. Italy
9.3.7.1. Overview
9.3.7.2. Market Analysis, Forecast, and Y-O-Y Growth Rate, 2017 - 2028, (US$ Million)
9.3.7.3. Italy Market Size and Forecast, By Product, 2017 - 2028 (US$ Million)
9.3.7.4. Italy Market Size and Forecast, By End-use, 2017 - 2028 (US$ Million)
9.3.8. United Kingdom
9.3.8.1. Overview
9.3.8.2. Market Analysis, Forecast, and Y-O-Y Growth Rate, 2017 - 2028, (US$ Million)
9.3.8.3. United Kingdom Market Size and Forecast, By Product, 2017 - 2028 (US$ Million)
9.3.8.4. United Kingdom Market Size and Forecast, By End-use, 2017 - 2028 (US$ Million)
9.3.9. France
9.3.9.1. Overview
9.3.9.2. Market Analysis, Forecast, and Y-O-Y Growth Rate, 2017 - 2028, (US$ Million)
9.3.9.3. France Market Size and Forecast, By Product, 2017 - 2028 (US$ Million)
9.3.9.4. France Market Size and Forecast, By End-use, 2017 - 2028 (US$ Million)
9.3.10. Russia
9.3.10.1. Market Analysis, Forecast, and Y-O-Y Growth Rate, 2017 - 2028, (US$ Million)
9.3.10.2. Russia Market Size and Forecast, By Product, 2017 - 2028 (US$ Million)
9.3.10.3. Russia Market Size and Forecast, By End-use, 2017 - 2028 (US$ Million)
9.3.11. Netherlands
9.3.11.1. Market Analysis, Forecast, and Y-O-Y Growth Rate, 2017 - 2028, (US$ Million)
9.3.11.2. Netherlands Market Size and Forecast, By Product, 2017 - 2028 (US$ Million)
9.3.11.3. Netherlands Market Size and Forecast, By End-use, 2017 - 2028 (US$ Million)
9.3.12. Sweden
9.3.12.1. Market Analysis, Forecast, and Y-O-Y Growth Rate, 2017 - 2028, (US$ Million)
9.3.12.2. Sweden Market Size and Forecast, By Product, 2017 - 2028 (US$ Million)
9.3.12.3. Sweden Market Size and Forecast, By End-use, 2017 - 2028 (US$ Million)
9.3.13. Poland
9.3.13.1. Market Analysis, Forecast, and Y-O-Y Growth Rate, 2017 - 2028, (US$ Million)
9.3.13.2. Poland Market Size and Forecast, By Product, 2017 - 2028 (US$ Million)
9.3.13.3. Poland Market Size and Forecast, By End-use, 2017 - 2028 (US$ Million)
9.3.14. Rest of Europe
9.3.14.1. Overview
9.3.14.2. Market Analysis, Forecast, and Y-O-Y Growth Rate, 2017 - 2028, (US$ Million)
9.3.14.3. Rest of the Europe Market Size and Forecast, By Product, 2017 - 2028 (US$ Million)
9.3.14.4. Rest of the Europe Market Size and Forecast, By End-use, 2017 - 2028 (US$ Million)
9.4. Asia Pacific (APAC)
9.4.1. Overview
9.4.2. Key Manufacturers in Asia Pacific
9.4.3. Asia Pacific Market Size and Forecast, By Country, 2017 - 2028 (US$ Million)
9.4.4. Asia Pacific Market Size and Forecast, By Product, 2017 - 2028 (US$ Million)
9.4.5. Asia Pacific Market Size and Forecast, By End-use, 2017 - 2028 (US$ Million)
9.4.6. India
9.4.6.1. Overview
9.4.6.2. Market Analysis, Forecast, and Y-O-Y Growth Rate, 2017 - 2028, (US$ Million)
9.4.6.3. India Market Size and Forecast, By Product, 2017 - 2028 (US$ Million)
9.4.6.4. India Market Size and Forecast, By End-use, 2017 - 2028 (US$ Million)
9.4.7. China
9.4.7.1. Overview
9.4.7.2. Market Analysis, Forecast, and Y-O-Y Growth Rate, 2017 - 2028, (US$ Million)
9.4.7.3. China Market Size and Forecast, By Product, 2017 - 2028 (US$ Million)
9.4.7.4. China Market Size and Forecast, By End-use, 2017 - 2028 (US$ Million)
9.4.8. Japan
9.4.8.1. Overview
9.4.8.2. Market Analysis, Forecast, and Y-O-Y Growth Rate, 2017 - 2028, (US$ Million)
9.4.8.3. Japan Market Size and Forecast, By Product, 2017 - 2028 (US$ Million)
9.4.8.4. Japan Market Size and Forecast, By End-use, 2017 - 2028 (US$ Million)
9.4.9. South Korea
9.4.9.1. Overview
9.4.9.2. Market Analysis, Forecast, and Y-O-Y Growth Rate, 2017 - 2028, (US$ Million)
9.4.9.3. South Korea Market Size and Forecast, By Product, 2017 - 2028 (US$ Million)
9.4.9.4. South Korea Market Size and Forecast, By End-use, 2017 - 2028 (US$ Million)
9.4.10. Australia
9.4.10.1. Overview
9.4.10.2. Market Analysis, Forecast, and Y-O-Y Growth Rate, 2017 - 2028, (US$ Million)
9.4.10.3. Australia Market Size and Forecast, By Product, 2017 - 2028 (US$ Million)
9.4.10.4. Australia Market Size and Forecast, By End-use, 2017 - 2028 (US$ Million)
9.4.11. Thailand
9.4.11.1. Overview
9.4.11.2. Market Analysis, Forecast, and Y-O-Y Growth Rate, 2017 - 2028, (US$ Million)
9.4.11.3. Thailand Market Size and Forecast, By Product, 2017 - 2028 (US$ Million)
9.4.11.4. Thailand Market Size and Forecast, By End-use, 2017 - 2028 (US$ Million)
9.4.12. Indonesia
9.4.12.1. Overview
9.4.12.2. Market Analysis, Forecast, and Y-O-Y Growth Rate, 2017 - 2028, (US$ Million)
9.4.12.3. Indonesia Market Size and Forecast, By Product, 2017 - 2028 (US$ Million)
9.4.12.4. Indonesia Market Size and Forecast, By End-use, 2017 - 2028 (US$ Million)
9.4.13. Philippines
9.4.13.1. Overview
9.4.13.2. Market Analysis, Forecast, and Y-O-Y Growth Rate, 2017 - 2028, (US$ Million)
9.4.13.3. Philippines Market Size and Forecast, By Product, 2017 - 2028 (US$ Million)
9.4.13.4. Philippines Market Size and Forecast, By End-use, 2017 - 2028 (US$ Million)
9.4.14. Rest of APAC
9.4.14.1. Overview
9.4.14.2. Market Analysis, Forecast, and Y-O-Y Growth Rate, 2017 - 2028, (US$ Million)
9.4.14.3. Rest of APAC Market Size and Forecast, By Product, 2017 - 2028 (US$ Million)
9.4.14.4. Rest of APAC Market Size and Forecast, By End-use, 2017 - 2028 (US$ Million)
9.5. Latin America
9.5.1. Overview
9.5.2. Key Manufacturers in Latin America
9.5.3. Latin America Market Size and Forecast, By Country, 2017 - 2028 (US$ Million)
9.5.4. Latin America Market Size and Forecast, By Product, 2017 - 2028 (US$ Million)
9.5.5. Latin America Market Size and Forecast, By End-use, 2017 - 2028 (US$ Million)
9.5.6. Brazil
9.5.6.1. Overview
9.5.6.2. Market Analysis, Forecast, and Y-O-Y Growth Rate, 2017 - 2028, (US$ Million)
9.5.6.3. Brazil Market Size and Forecast, By Product, 2017 - 2028 (US$ Million)
9.5.6.4. Brazil Market Size and Forecast, By End-use, 2017 - 2028 (US$ Million)
9.5.7. Mexico
9.5.7.1. Overview
9.5.7.2. Market Analysis, Forecast, and Y-O-Y Growth Rate, 2017 - 2028, (US$ Million)
9.5.7.3. Mexico Market Size and Forecast, By Product, 2017 - 2028 (US$ Million)
9.5.7.4. Mexico Market Size and Forecast, By End-use, 2017 - 2028 (US$ Million)
9.5.8. Argentina
9.5.8.1. Overview
9.5.8.2. Market Analysis, Forecast, and Y-O-Y Growth Rate, 2017 - 2028, (US$ Million)
9.5.8.3. Argentina Market Size and Forecast, By Product, 2017 - 2028 (US$ Million)
9.5.8.4. Argentina Market Size and Forecast, By End-use, 2017 - 2028 (US$ Million)
9.5.9. Colombia
9.5.9.1. Overview
9.5.9.2. Market Analysis, Forecast, and Y-O-Y Growth Rate, 2017 - 2028, (US$ Million)
9.5.9.3. Colombia Market Size and Forecast, By Product, 2017 - 2028 (US$ Million)
9.5.9.4. Colombia Market Size and Forecast, By End-use, 2017 - 2028 (US$ Million)
9.5.10. Rest of LATAM
9.5.10.1. Overview
9.5.10.2. Market Analysis, Forecast, and Y-O-Y Growth Rate, 2017 - 2028, (US$ Million)
9.5.10.3. Rest of LATAM Market Size and Forecast, By Product, 2017 - 2028 (US$ Million)
9.5.10.4. Rest of LATAM Market Size and Forecast, By End-use, 2017 - 2028 (US$ Million)
9.6. Middle East and Africa
9.6.1. Overview
9.6.2. Key Manufacturers in Middle East and Africa
9.6.3. Middle East and Africa Market Size and Forecast, By Country, 2017 - 2028 (US$ Million)
9.6.4. Middle East and Africa Market Size and Forecast, By Product, 2017 - 2028 (US$ Million)
9.6.5. Middle East and Africa Market Size and Forecast, By End-use, 2017 - 2028 (US$ Million)
9.6.6. Saudi Arabia
9.6.6.1. Overview
9.6.6.2. Market Analysis, Forecast, and Y-O-Y Growth Rate, 2017 - 2028, (US$ Million)
9.6.6.3. Saudi Arabia Market Size and Forecast, By Product, 2017 - 2028 (US$ Million)
9.6.6.4. Saudi Arabia Market Size and Forecast, By End-use, 2017 - 2028 (US$ Million)
9.6.7. United Arab Emirates
9.6.7.1. Overview
9.6.7.2. Market Analysis, Forecast, and Y-O-Y Growth Rate, 2017 - 2028, (US$ Million)
9.6.7.3. United Arab Emirates Market Size and Forecast, By Product, 2017 - 2028 (US$ Million)
9.6.7.4. United Arab Emirates Market Size and Forecast, By End-use, 2017 - 2028 (US$ Million)
9.6.8. Israel
9.6.8.1. Overview
9.6.8.2. Market Analysis, Forecast, and Y-O-Y Growth Rate, 2017 - 2028, (US$ Million)
9.6.8.3. Israel Market Size and Forecast, By Product, 2017 - 2028 (US$ Million)
9.6.8.4. Israel Market Size and Forecast, By End-use, 2017 - 2028 (US$ Million)
9.6.9. Turkey
9.6.9.1. Overview
9.6.9.2. Market Analysis, Forecast, and Y-O-Y Growth Rate, 2017 - 2028, (US$ Million)
9.6.9.3. Turkey Market Size and Forecast, By Product, 2017 - 2028 (US$ Million)
9.6.9.4. Turkey Market Size and Forecast, By End-use, 2017 - 2028 (US$ Million)
9.6.10. Algeria
9.6.10.1. Overview
9.6.10.2. Market Analysis, Forecast, and Y-O-Y Growth Rate, 2017 - 2028, (US$ Million)
9.6.10.3. Algeria Market Size and Forecast, By Product, 2017 - 2028 (US$ Million)
9.6.10.4. Algeria Market Size and Forecast, By End-use, 2017 - 2028 (US$ Million)
9.6.11. Egypt
9.6.11.1. Overview
9.6.11.2. Market Analysis, Forecast, and Y-O-Y Growth Rate, 2017 - 2028, (US$ Million)
9.6.11.3. Egypt Market Size and Forecast, By Product, 2017 - 2028 (US$ Million)
9.6.11.4. Egypt Market Size and Forecast, By End-use, 2017 - 2028 (US$ Million)
9.6.12. Rest of MEA
9.6.12.1. Overview
9.6.12.2. Market Analysis, Forecast, and Y-O-Y Growth Rate, 2017 - 2028, (US$ Million)
9.6.12.3. Rest of MEA Market Size and Forecast, By Product, 2017 - 2028 (US$ Million)
9.6.12.4. Rest of MEA Market Size and Forecast, By End-use, 2017 - 2028 (US$ Million)
10. Key Vendor Analysis
10.1. Competitive Dashboard
10.2. Company Profiles
10.2.1. Stryker Corporation
10.2.2. ArjoHuntleigh
10.2.3. Invacare Corporation
10.2.4. Hill Rom, Inc.
10.2.5. Drive Medical
10.2.6. GF Health Products, Inc.
10.2.7. Sunrise Medical
10.2.8. Medline Industries
10.2.9. Hill Rom, Inc.
10.2.10. Carex Health Brands, Inc
10.2.11. Becton, Dickinson and Company
10.2.12. General Electric Company
10.2.13. Medtronic PLC
10.2.14. Compass Health Brands
11. 360 Degree Analyst View
12. Appendix
12.1. Research Methodology
12.2. References
12.3. Abbreviations
12.4. Disclaimer
12.5. Contact Us
