The latest published report by Polaris Market Research “U.S.Durable Medical Equipment Market Share, Size, Trends, Industry Analysis Report By Product {Personal Mobility Devices (Wheelchair, Scooters, Canes and Crutches, Door Openers) Bathroom Safety Devices And Medical Furniture (Commodes and Toilets, Mattress & Bedding Devices) Monitoring And Therapeutic Devices (Blood Sugar Monitors, CPM, Infusion Pumps, Nebulizers, Oxygen Equipment, CPAP, Suction Pumps, Traction Equipment)}; By Regions, Segments & Forecast, 2020- 2026” it gives a detailed insight into current market dynamics and provides analysis on future market growth.
Market Overview:
The U.S. durable medical equipment market size was valued at USD 49.76 billion in 2019 and is expected to reach USD 76.32 billion by 2026 to grow at a CAGR of 6.3% during the forecast period (2020-2026). The medical device manufacturers are developing new and improved equipment based on durability and reliability to improve the quality of life of the patients in need. With growing demand for home healthcare, the adoption of home care equipment is also increasing. Several new organizations are established that are launching and scaling advanced home care models to move primary, acute, and palliative care to the home. There are numerous dynamics that are driving patient’s preference for healthcare settings specifically towards home which in-turn is enhancing the adoption of durable medical equipment across various regions.
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The key players in the market include : Invacare Corporation, Sunrise Medical, ArjoHuntleigh, Hill Rom, Inc, Stryker Corporation, Medline Industries Inc., Drive Medical, GF Health Products Inc., and Carex Health Brands, Inc. among others
Furthermore, numerous companies are launching technologically advanced systems to improve the usage and sales of DME. For instance, in August 2018 Somnoware, launched its enhanced durable medical equipment DME ordering capability for enterprise healthcare systems. Also, in May 2019 Breg, Inc., launched Breg Vision 7.0, in Apple’s app store, the next generation of its paperless workflow management system for orthopedic providers, to automates and optimizes in-house durable medical equipment (DME) programs. Such activities not only improves the existing technologies but also helps smoothen the purchase and usage process for the patients.
Market Insight:
The primary factor driving the growth of durable medical equipment market in the U.S. is growing aging population and increasing demand for assisted care in a comfortable environment. Currently, there are over 40 million people in the U.S. alone aged 65 years & above and this number is anticipated to double by 2050. Rapidly growing geriatric population, which forms the key target population for DME, is anticipated to bolster the growth of the market over the forecast period. Furthermore, increasing prevalence of chronic diseases, growing technological advancements, and increasing government initiatives to improve healthcare are some other factors fueling the growth of this market. The rising geriatric population is expected to increase susceptibility toward chronic conditions such as diabetes, cardiovascular disorders, and other lifestyle disorders. With an ever-increasing prevalence of diseases and baby boomer population, healthcare expenditure levels are expected to continue to grow during the forecast period. The growth of home healthcare as a cost-effective alternative over hospital stay is expected to serve this market as a key driver over the forecast period.
Though many factors are driving the market growth, there are several issues that have a negative impact on the market. Failure to meet the desired performance is another vital reason why healthcare professionals hesitate from using DME, especially personal mobility devices. At times, while carrying obese patients, these equipment tend to break, which usually happens due to wear and tear. In such situations, the patient is at greater risk and prone to severe accidents and injuries. Also, DME are primarily used in the home healthcare settings and the fact that remuneration for home health & personal aides are significantly lower than other personal care & service workers and well below the median for all occupations discourages individuals to take up home health aide as a profession, which is expected to restrain market growth.
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The U.S. DME market is expected to witness a significant growth during the forecast period. Based on several government initiatives and insurance coverage, it is easy for the patients to use these equipment at a low cost. Both Medicare and Medicaid offer coverage for DME that are prescribed by the doctor for home use. Most DME can be purchased without prescription, however, some devices such as oxygen equipment require prescription. In addition, prescription becomes essential in case of reimbursement or the coverage.
Table of Contents
Chapter 1. Overview and Scope
Chapter 2. Executive Summary
Chapter 3. U.S. DME Market Variables, Trends & Scope
Chapter 4. U.S. DME Market: Product Estimates & Trend Analysis
- Personal Mobility Devices
- Wheelchairs
- Scooters
- Walker and Rollators
- Cranes and Crutches
- Door Openers
- Other Devices
- Bathroom Safety Devices & Medical Furniture
- Commodes and Toilets
- Mattress & Bedding Devices
- Monitoring & Therapeutic Devices
- Blood Sugar Monitors
- Continuous Passive Motion (CPM)
- Infusion Pumps Market
- Nebulizers
- Oxygen Equipment
- Continuous Positive Airway Pressure (CPAP)
- Suction Pumps
- Traction Equipment
- Other Equipment
- Insulin Pumps
- Ostomy Bags & Accessories
- Other
Chapter 5. U.S. DME Market: End User Estimates & Trend Analysis
- Hospitals
- Specialty Clinics
- Ambulatory Surgical Centers
- Diagnostic Centers
- Home Healthcare
- Others
Chapter 6. Competitive Landscape
Continued…
List of Tables
Table 1 Comparative analysis: Yearly pay in the U.S., by profession (USD/year)
Table 2 U.S. Durable Medical Devices Market, By Product, 2015 – 2026 (USD Million)
Table 3 U.S. Personal Mobility Devices Market, By Type, 2015 – 2026 (USD Million)
Continued…
List of Figures
Figure 1. Research process
Figure 2. Information procurement
Figure 3. Market summary (USD Million), 2019
Continued…
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The report can be customized on the basis of regional analysis, segment analysis, industry outlook and competitive analysis. Some of the major focus points which are covered in the report include:
- Industry Trends, opportunity and challenges in the market
- Role of key players across the value chain
- End-User analysis to define the market strategy
- Competitive mapping
- Regional and country level breakdown
These insights are included in the report which would help you to have a realistic overview of the overall market including the competition, investment opportunities, restraints and challenges, regulatory factors which might affect the market growth. Moreover, the report would help to identify the regional market growth opportunities for different segments covered in the report.
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Related Report:
Durable Medical Equipment (DME) Market Share, Size, Trends, Industry Analysis By Device Type (Therapeutic and Monitoring Devices (Oxygen Equipment, Blood Glucose Monitors, infusion pumps, nebulizers, and others), Personal Mobility Devices (Walker and rollators, Scooters, Wheelchairs, Door Openers, and Other Devices), and Furniture And Bathroom Safety Devices (Bedding & Mattresses Devices, and Commodes and Toilets)); By End User; By Regions, Segment Forecast, 2020 – 2026
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