Durable Medical Equipment Market Analysis

Durable Medical Equipment Market Analysis

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By product, the market is categorized into personal mobility devices, monitoring and therapeutic devices, bathroom safety devices, medical furniture, incontinent pads, breast pumps, catheters, consumables and accessories, and other products. The consumables and accessories segment dominated the market with a revenue of around USD 58.4 million in 2023.
 

• Consumables and accessories are used across various medical fields, including surgery, diagnostics, chronic disease management, and wound care. This broad application spectrum contributes to their dominant market position.
   
• Moreover, managing chronic conditions like diabetes, hypertension, and respiratory illnesses involves the regular use of consumables, such as test strips, syringes, and inhaler accessories. This ongoing need contributes to their increased utilization.
   

By payer, the market is categorized durable medical equipment into public, private, and out-of-pocket. The public segment dominated the market with a revenue share of around 38.3% in 2023.
 

• Public insurance typically covers a wide array of durable medical equipment (DME), including wheelchairs, oxygen equipment, hospital beds, and mobility aids. This comprehensive coverage ensures higher utilization and spending in the public payer segment.
   
• Moreover, regular government funding and policy initiatives aimed at improving healthcare infrastructure and services support the growth of the public payer segment.
   

By end-use, the durable medical equipment market is categorized into hospitals, home healthcare, ambulatory surgical centers, and other end-users. The home healthcare segment dominated the market with a revenue share of around 33.6% 2023.
 

• The global population is aging, with an increasing number of elderly individuals preferring to receive care in the comfort of their homes. This demographic shift significantly drives the demand for home healthcare durable medical equipment (DME).
   
• Additionally, home healthcare is often more cost-effective compared to prolonged hospital stays or institutional care. This cost advantage encourages both patients and healthcare systems to opt for home care solutions.
   

North America durable medical equipment market accounted for USD 76.4 billion in revenue in 2023 and is predicted to witness substantial market growth over the analysis timeline.
 

• The rise in chronic diseases across all age groups necessitates the use of durable medical equipment (DME) for monitoring, treatment, and rehabilitation. Conditions such as diabetes, cardiovascular diseases, and respiratory disorders are particularly significant in the region, leading to increased demand for DME.
   
• Additionally, continuous advancements in technology have resulted in the development of more efficient, user-friendly, and portable DME. These innovations not only improve patient outcomes but also enhance the appeal of using DME.
   

The U.S. durable medical equipment market is anticipated to reach USD 98 billion by 2032, driven by numerous factors.
 

• The U.S. offers favorable reimbursement policies through Medicare, Medicaid, and private insurers, making durable medical equipment (DME) more affordable and accessible to patients.
   
• Furthermore, there is a growing preference for home healthcare due to its cost-effectiveness and the comfort it provides to patients. This trend boosts the demand for DME designed for home use in the country.
   

The durable medical equipment market in UK is expected to experience significant and promising growth from 2024 to 2032.
 

• The UK's regulatory environment supports the introduction and use of advanced DME, ensuring safety and efficacy for patients. Additionally, higher healthcare spending in the UK supports the acquisition and use of advanced DME in various healthcare settings.
   

Japan durable medical equipment market is anticipated to witness lucrative growth between 2024 – 2032.
 

• The Japanese government has implemented various healthcare reforms to support the use of DME, especially in promoting home care and reducing the burden on hospitals. Furthermore, Japan's stable economy allows for higher healthcare spending, supporting the acquisition and use of advanced DME in various healthcare settings.