Durable Medical Equipment Market Size, Share, Growth Analysis, By Product(Personal mobility devices, bathroom safety devices and medical furniture, monitoring and therapeutic devices, and others), By End-use(Hospitals, home healthcare, nursing homes, and others), By Region(North America, Europe, Asia-Pacific, Latin America), By Region - Industry Forecast 2024-2031

Global Durable Medical Equipment Market size was valued at USD 207.99 billion in 2022 and is poised to grow from USD 220.26 billion in 2023 to USD 348.42 billion by 2031, growing at a CAGR of 5.90% during the forecast period (2024-2031).

Durable medical equipment (DME) is a type of medical device that provides solutions to help patients complete their daily activities more efficiently. Suppliers of such equipment may assist patients in understanding the operation of  equipment. Based on certain boundaries, most durable medical equipment is supported by healthcare insurance. Power scooters, oxygen equipment, walkers, wheelchairs, hospital beds, catheters, support braces, and replacement CPAP masks come under this category.

During the forecast period, the rising prevalence of cancer, cardiac disorders, neurological conditions, and gynaecological complications is expected to drive market growth. Better DME coverage and reimbursement policies are also expected to contribute to DME market growth. Furthermore, the growing number of elderly care centres as a result of the world's ageing population is expected to fuel the DME market dramatically. However, stringent regulatory guidelines in developed economies, as well as a shortage of skilled professionals to operate this equipment, are considered to be impeding industry growth during the forecast period. However, the high cost of  medical equipment may severely hamper the expected growth of the global  market.

US Durable Medical Equipment Market is poised to grow at a sustainable CAGR for the next forecast year.