Durable Medical Equipment Market Set to Reach USD 402.7 Billion by 2032

The global durable medical equipment (DME) market was valued at around USD 236.2 billion in 2023 and is expected to grow at a CAGR of 6.1% during the forecast period. The rising prevalence of chronic diseases worldwide is a key factor driving growth in the DME market. Conditions such as cardiovascular diseases, diabetes, respiratory disorders, and musculoskeletal issues require long-term care, often involving the use of durable medical equipment. As the number of individuals with chronic illnesses continues to rise, so does the demand for healthcare mobility solutions and long-term medical devices.

Durable medical equipment refers to medical devices and supplies designed for prolonged use to help manage medical conditions or assist with daily living activities for those with disabilities or chronic illnesses. These items are reusable and are typically prescribed by healthcare professionals.

By product, the market is segmented into monitoring and therapeutic devices, personal mobility devices, bathroom safety devices, incontinent pads, medical furniture, breast pumps, consumables, catheters, accessories, and other products. In 2023, the consumables and accessories segment led the market, generating revenue of approximately USD 58.4 million. Consumables are essential across various medical fields, including surgery, diagnostics, and chronic disease management, contributing to their dominant market position.

The market is also segmented by payer into public, private, and out-of-pocket categories. The public segment held the largest market share in 2023, accounting for around 38.3% of the revenue. Public insurance typically covers a broad range of durable medical equipment, which ensures higher usage and spending in this segment. Additionally, government funding and healthcare policy initiatives are driving further growth in this area.

By end use, the market is divided into hospitals, home healthcare, ambulatory surgical centers, and other end-users. The home healthcare segment led with a revenue share of 33.6% in 2023, driven by an aging population and the growing preference for receiving care at home, which is often more cost-effective than hospital stays.

In terms of regional analysis, North America generated USD 76.4 billion in revenue in 2023, with substantial market growth expected. Technological advancements in durable medical equipment and rising chronic disease rates are driving demand. The U.S. market is projected to reach USD 98 billion by 2032, supported by favorable reimbursement policies and a growing shift toward home healthcare solutions.

Source: https://www.gminsights.com/industry-analysis/durable-medical-equipment-dme-market