United States Durable Medical Equipment Market

United States Durable Medical Equipment Market Overview:

The United States durable medical equipment market is projected to exhibit a growth rate of 5.30% during 2024-2032. The growing elderly population has created a large customer base with age-associated diseases requiring the use of durable medical equipment. Furthermore, factors including continuous advancements in medical technology and the rising incidence of medical ailments such as diabetes and cardiovascular illnesses are significantly driving the market growth.

United States Durable Medical Equipment Market Trends:

Growth in Aging Population

The United States is undergoing a rapid demographic shift with a growing elderly population, which is a major driver for the durable medical equipment (DME) market. According to the U.S. Census Bureau, by 2030, all baby boomers will be at least 65 years old, with the elderly population expected to reach 73 million. This demographic shift leads to a higher need for DME such as mobility equipment, respiratory equipment, and home healthcare products among others. The older population requires DME to have a better quality of life and manage conditions such as chronic diseases and mobility limitations. The increase in demand among the elderly population is further augmented with the continued growth of Medicare and Medicaid which aid in providing the required funds to support the expenses of DME for the geriatric population.

Chronic Disease Prevalence

The prevalence of chronic diseases in the U.S. is a major driver for the durable medical equipment market. According to the Centers for Disease Control and Prevention (CDC), nearly 6 in 10 adults have a chronic disease, and 4 in 10 adults have two or more chronic diseases. Degenerative conditions such as diabetes, heart illnesses, and other chronic respiratory illnesses need DME such as glucose monitoring gadgets, CPAP machines, cardiac monitors, and others. As a result of advancements in many chronic diseases, the people in need of DME have equally increased, thereby driving the market demand.

Rising Healthcare Expenditure

Increasing healthcare expenditure in the U.S. is fueling the growth of durable medical equipment market. According to the Centers for Medicare & Medicaid Services (CMS), for 2020-27, national health spending is projected to grow over 5.7 percent, from 4.8 percent in 2019, and reach nearly $6.0 trillion by 2027.  This increase in the proportion of health care spending is attributed to the advancements in healthcare facilities and improvement of patient care through investments by the government and private sectors. However, this makes a passage for spending more and enables the allocation of more resources in the medical sector especially in support of DME for the benefit of patients and healthcare providers. The increased budgets make it possible for the hospitals and the home healthcare to procure enhanced medical equipment thus enhancing the patients’ recovery rate. This trend helps to expand and develop the DME market further as healthcare facilities increasingly seek to invest in advanced equipment.

United States Durable Medical Equipment Market News:

• In June 2024, Parachute Health collaborated with two significant healthcare companies to reinforce DME ePrescribing and reduce costs for clinicians and DME providers. With the help of this new platform functionality, it also planned to streamline prior authorization process.
• In November 2023, Humana Inc. announced that it had partnered with two national organizations, AdaptHealth Corp. and Rotech Healthcare Inc., for offering DME services for home healthcare. These services were initiated especially for the Humana Medicare Advantage HMO members.

United States Durable Medical Equipment Market Segmentation:

IMARC Group provides an analysis of the key trends in each segment of the market, along with forecasts at the country level for 2024-2032. Our report has categorized the market based on product, and end-user.

Product Insights:

• Personal Mobility Devices
  • Wheelchairs
  • Scooters
  • Walker and Rollators
  • Canes and Crutches
  • Others
• Bathroom Safety Devices and Medical Furniture
  • Commodes and Toilets
  • Mattress and Bedding Devices
• Monitoring and Therapeutic Devices
  •     Blood Sugar Monitors
  •     Continuous Passive Motion (CPM)
  •     Infusion Pumps
  •     Nebulizers
  •     Oxygen Equipment
  •     Continuous Positive Airway Pressure (CPAP)
  •     Suction Pumps
  •     Traction Equipment
  •     Others
• Others
   

The report has provided a detailed breakup and analysis of the market based on the product. This includes personal mobility devices (wheelchairs, scooters, walker and rollators, canes and crutches, and others), bathroom safety devices and medical furniture (commodes and toilets, mattress and bedding devices), monitoring and therapeutic devices (blood sugar monitors, continuous passive motion (CPM), infusion pumps, nebulizers, oxygen equipment, continuous positive airway pressure (CPAP), suction pumps, traction equipment, others), and others.

End-User Insights:

• Hospitals
• Specialty Clinics
• Ambulatory Surgical Centers
• Diagnostic Centers
• Home Healthcare
• Skilled Nursing Facilities
• Others
   

A detailed breakup and analysis of the market based on the end-user have also been provided in the report. This includes hospitals, specialty clinics, ambulatory surgical centers, diagnostic centers, home healthcare, skilled nursing facilities, and others.

Regional Insights:

• Northeast
• Midwest
• South
• West
   

The report has also provided a comprehensive analysis of all the major regional markets, which include Northeast, Midwest, South, and West.

Competitive Landscape:

The market research report has also provided a comprehensive analysis of the competitive landscape. Competitive analysis such as market structure, key player positioning, top winning strategies, competitive dashboard, and company evaluation quadrant has been covered in the report. Also, detailed profiles of all major companies have been provided.

United States Durable Medical Equipment Market Report Coverage:

Key Questions Answered in This Report:

• How has the United States durable medical equipment market performed so far and how will it perform in the coming years?
• What has been the impact of COVID-19 on the United States durable medical equipment market?
• What is the breakup of the United States durable medical equipment market on the basis of product?
• What is the breakup of the United States durable medical equipment market on the basis of end-user?
• What are the various stages in the value chain of the United States durable medical equipment market? 
• What are the key driving factors and challenges in the United States durable medical equipment?
• What is the structure of the United States durable medical equipment market and who are the key players?
• What is the degree of competition in the United States durable medical equipment market? 

Key Benefits for Stakeholders:

• IMARC’s industry report offers a comprehensive quantitative analysis of various market segments, historical and current market trends, market forecasts, and dynamics of the United States durable medical equipment market from 2018-2032.
• The research report provides the latest information on the market drivers, challenges, and opportunities in the United States durable medical equipment market.
• Porter's five forces analysis assist stakeholders in assessing the impact of new entrants, competitive rivalry, supplier power, buyer power, and the threat of substitution. It helps stakeholders to analyze the level of competition within the United States durable medical equipment industry and its attractiveness.
• Competitive landscape allows stakeholders to understand their competitive environment and provides an insight into the current positions of key players in the market.