U.S. Durable Medical Equipment Market Size, Share, Analysis and Forecast to 2028

Posted by Ryan Shaw on February 4th, 2021

The U.S. Durable Medical Equipment Market size is expected to reach USD 84.3 billion by 2028, according to a new report published by Grand View Research, Inc. It is projected to expand at a 6.0% CAGR over the forecast period. The rising prevalence of chronic diseases with the rapidly mounting geriatric population requiring long-term care and increasing penetration of home healthcare services & staff are factors driving the demand for Durable Medical Equipment (DME).

The demand for DME is projected to witness a rise during the forecast period, as they are designed per patient acceptance and compliance which boosts its adoption. The aging population and preference for shorter hospital stays are the factors making home healthcare more common. With these trends, a significant number of medical devices such as patient monitoring systems and mobility aids are in great demand.

Furthermore, the current coronavirus pandemic has presented unusual and extraordinary challenges to the healthcare system. As the virus continues to spread, there is an increasing demand for home treatment for several health issues, including those directly or indirectly related to COVID-19. As hospital discharges become more prevalent to manage current resources, the resultant demand and production strain on DME providers especially for home oxygen and ventilator suppliers are projected to increase significantly. The ventilator circuit and other respiratory supplies are on a major supply crunch.

Request a free sample copy or view report summary: U.S. Durable Medical Equipment Market Report

U.S. Durable Medical Equipment Market Report Highlights

• Monitoring and therapeutic devices emerged as the largest segment. It accounted for the largest market share of 89.4% in 2020 owing to the high usage and ease of handling of the products
• The personal mobility devices segment is anticipated to be the fastest-growing segment over the forecast period as these offer custodial care products like door openers, wheelchairs, and scooters
• Moreover, the introduction of advanced walking aids has led to the growth of the personal mobility devices market. An increasing number of disorders, such as spinal cord injuries, osteoporosis, and rheumatoid arthritis is driving the demand for wheelchairs in the U.S.
• The growth of home healthcare as a cost-effective alternative to expensive hospital stay is expected to be a high-impact rendering driver over the forecast period
• Besides, the increase in insured population as a result of the Affordable Care Act is also supporting the market growth within North America