North American Durable Medical Equipment Market To Create Business Opportunities Worth $114.4 Billion By 2030

North America Durable Medical Equipment Industry Overview

The North America durable medical equipment market size was valued at USD 68.5 billion in 2021 and is expected to expand at a compound annual growth rate (CAGR) of 5.8% from 2022 to 2030. The COVID-19 pandemic has affected the logistics and supply chain of the Durable Medical Equipment (DME). The market is majorly driven by the rising product demand due to the rising need for the product and the growing geriatric population that is prone to various chronic diseases, such as cancer, cardiovascular disorders, neurological disorders, and mobility disorders.

Durable medical equipment plays a major part in long-term remote care after surgery at home or any other healthcare setting. This is also estimated to propel market growth. Additionally, the stringent regulatory guidelines in developed countries and the lack of skilled professionals for this equipment are said to hinder the industry growth.

Gather more insights about the market drivers, restrains and growth of the North America Durable Medical Equipment Market

The rising chronic diseases and need for healthcare services have affected U.S. healthcare expenditure from USD 3.5 trillion in 2017 to USD 6.2 trillion in 2028 and account for 20% of the GDP. The anticipated growth in the annual spending for Medicare (7.9%) is projected to contribute significantly to the increase in the national health expenditure over the forecast period.

The COVID-19 pandemic negatively impacted the durable medical equipment market initially due to the lack of accessibility of the products to the customers. The pandemic has affected the operations and financial condition of various market players. The DME suppliers have faced interruptions in the logistics, such as significant delays and order cancellations, as a result of public health and economic emergencies related to the COVID-19 pandemic.

The rising chronic diseases have directed resulted in an increasing demand for DME. Cancer is one of the leading causes of death in the region. An estimated 608,570 Americans will die from cancer in 2021. As per the National Cancer Institute Report 2018, approximately 1.7 million people in the U.S. were diagnosed with cancer. Diabetes is another serious chronic disease that is responsible for market growth. In the U.S., 1 out of 10 people have diabetes and 11.3% of the U.S. population is living with diabetes.

The durable medical equipment users can avail reimbursement and coverage for the products are also likely to boost the growth of the market. Durable medical equipment is covered under Medicare. Medicare Part-B beneficiaries pay 20% of the approved cost of the product and the remaining 80% is paid by Medicare.

Browse through Grand View Research's Category Medical Devices Industry Research Reports.

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North America Durable Medical Equipment Market Segmentation

Grand View Research has segmented the North America durable medical equipment market based on product, end-use, and region:

North America Durable Medical Equipment Product Outlook (Revenue, USD Million; 2018 - 2030)

• Personal Mobility Devices

o Wheelchairs

o Scooters

o Walker and Rollators

o Canes and Crutches

o Door Openers

o Other Devices

• Bathroom Safety Devices And Medical Furniture

o Commodes And Toilets

o Mattress & Bedding Devices

• Monitoring And Therapeutic Devices

o Blood Sugar Monitors

o Continuous Passive Motion (CPM)

o Infusion Pumps

o Nebulizers

o Oxygen Equipment

o Continuous Positive Airway Pressure (CPAP)

o Suction Pumps

o Traction Equipment

o Others Equipment

North America Durable Medical Equipment End-use Outlook (Revenue, USD Million, 2018 - 2030)

• Hospitals

• Nursing Homes

• Home Healthcare

• Other End-user

North America Durable Medical Equipment Regional Outlook (Revenue, USD Million, 2018 - 2030)

• North America

o U.S.

o Canada

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Key Companies profiled:

• Invacare Corp.

• Sunrise Medical

• Arjo

• Medline Industries, Inc.

• GF Healthcare Products, Inc.

• Carex Health Brands, Inc.

• Cardinal Health

• Drive DeVilbiss Healthcare

• NOVA Medical Products

• Kaye Products, Inc.