U.S. Durable Medical Equipment Market Size Estimated to Reach USD 109.12 Billion By 2032, at 6.3% CAGR Growth: Polaris Market Research

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25 Aug, 2023, 10:01 ET

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NEW YORK, Aug. 25, 2023 /PRNewswire/ -- A latest research report [115+] pages with 360-Degree visibility, titled "U.S. Durable Medical Equipment Market Share, Size, Trends, Industry Analysis Report, By Product (Personal Mobility Devices, Bathroom Safety Devices & Medical Furniture, and Monitoring & Therapeutic Devices); By End User; Segment Forecast, 2023 - 2032" published by Polaris Market Research in its research repository.

"According to research report, the U.S. durable medical equipment market size/share was valued at USD 59.13 billion in 2022 and is expected to touch USD 109.12 Billion By 2032, growing at a CAGR of 6.3% during the forecast period."

U.S. Durable Medical Equipment Market: Report Overview

Durable medical equipment (DME) is medical equipment ordered by a healthcare provider for everyday or extended use. DME includes nebulizers, oxygen tents, CPAP/BiPAP machines, catheters, hospital beds, wheelchairs, blood glucose monitors. DME allows patients with a debilitating medical condition, injury, or diseases to obtain a higher quality of life while living at home. Many health insurance plans provide coverage for durable medical equipment so that it need not be paid for out of pocket

DME may be ordered by a healthcare provider to aid a patient's temporary disability or to provide long-term patient care, for example, a mechanical ventilator for a patient with advanced lung disease. However, bandages, face masks, and rubber gloves are examples of consumable medical items that are not regarded as DME under Medicare. The growing healthcare industry is prominently driving the U.S. durable medical equipment market size growth.

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U.S. Durable Medical Equipment Market: Report Scope

Report Attribute

Details

Revenue forecast in 2032

USD 109.12 Billion

Market size value in 2023

USD 62.70 Billion

Expected CAGR Growth

6.3% from 2023 – 2032

Base Year

2022

Forecast Year

2023 - 2032

Top Market Players

Invacare Corporation, Sunrise Medical, ArjoHuntleigh, Hill Rom, Inc, Stryker Corporation, Medline Industries Inc., Drive Medical, GF Health Products Inc., and Carex Health Brands, Inc.

Segments Covered

By Return Type, By Service, By End User, By Region

Customization Options

Customized purchase options are available to meet any research needs. Explore customized purchase options

Prominent Growth Driving Factors

Recent Trends Influencing the Market

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Segmental Analysis

Based on product, monitoring and therapeutic devices category which includes a variety of devices utilized for long duration for diagnosing different diseases such as cardiovascular & neurological, and cancer dominated the market in 2022. Blood sugar monitors, Continuous Passive Motion (CPM), oxygen equipment, infusion pumps, nebulizers, Continuous Positive Airway Pressure (CPAP), suction pumps, traction equipment are some of the examples of monitoring and therapeutic devices.

Further, personal mobility devices are expected to obtain a significant revenue share during the foreseen period owing to the launch of technologically advanced products. Under personal mobility devices segment, the wheelchair category is likely to witness the largest market share due to the rising demand and high usage of powered wheelchairs. Additionally, the walkers & rollators segment is predicted to achieve revenue during the forecast period because of the surging preference among users for premium and customized rollators. Moreover, bathroom safety devices and medical segment is segmented into Commodes and Toilets and Mattress & Bedding Devices. The mattresses and bedding sub-sector is projected to capture greatest market share in the coming years owing to the growing prevalence of chronic and other conditions.

In terms of end-user U.S. durable medical equipment market segmentation, hospital category registered profitable share in 2022 due to the factors such as rising patient flow, advancement of healthcare infrastructure, and increasing technological developments. Further, ambulatory surgery facilities are becoming more prevalent all over the world. Ambulatory surgery centers are currently operating in over 9,280 locations across the country. In 2016, this number grew from 6100 ASCs. Demand for critical tools and equipment, particularly durable medical equipment, is primarily driven by the rise in the number of ambulatory surgery centers.

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Recent Developments

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The Report Answers Questions Such as

Polaris Market Research has segmented the U.S. Durable Medical Equipment market report based on product and end user:

By Product Outlook

About Polaris Market Research:

Polaris Market Research is a global market research and consulting company. The company specializes in providing exceptional market intelligence and in-depth business research services for PMR's clientele spread across different enterprises. We at Polaris are obliged to serve PMR's diverse customer base present across the industries of healthcare, technology, semi-conductors and chemicals among various other industries present around the world. We strive to provide PMR's customers with updated information on innovative technologies, high growth markets, emerging business environments and latest business-centric applications, thereby helping them always to make informed decisions and leverage new opportunities. Adept with a highly competent, experienced and extremely qualified team of experts comprising SMEs, analysts and consultants, we at Polaris endeavor to deliver value-added business solutions to PMR's customers.

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SOURCE Polaris Market Research