- US: +1-408-610-2300
- Toll Free: +1-866-831-4085
- Become a Client
The U.S. durable medical equipment market is anticipated to expand by USD 92.8 billion by 2030 and register a CAGR of 5.7%. Durable medical equipment (DME) comprises hospital beds, wheelchairs, bathroom safety, and walking aids thus, enabling access to remote health management facilities in the U.S. The benefit of such a facility is that the patients are not required to visit hospitals and spend on emergency rooms and nursing home admissions.
The COVID-19 pandemic disrupted the industry’s growth due to lack of access to the medical facilities. Additionally, the financial and operational conditions of the industry were severely impacted. For instance, the suppliers of durable medical equipment experienced interferences in the supply chain like order delays and cancellations owing to economic and public health emergencies during COVID-19. The U.S. Food and Drug Administration (FDA) issued the emergency use authorizations (EUAs), and guidance documents with an aim to extend the availability of therapeutic and diagnostic medical devices.
Neurological diseases such as Parkinson’s disease, Alzheimer’s disease, and epilepsy are rising due to which the demand for durable medical equipment is increasing. For instance, neuro-electromagnetic therapeutics, cognito therapeutics, client-to-network (C2N) diagnostics, and functional neuromodulation are medical devices for the treatment of Alzheimer’s disease. The prevalence of medical devices is bound to help patients combat illnesses that disrupt their physical health, thus uplifting the industry’s growth during the forecast period.
In terms of segment, monitoring and therapeutic devices dominated the U.S. durable medical equipment (DME) market owing to the increase in the number of patients suffering from chronic diseases. High demand for home medical services or in-patient treatment facilities is likely to drive the growth of the segment during the forecast period. Additionally, the adoption of neuromonitoring techniques are anticipated to expand in the forecast period as they are considered useful during medical practices for surgical procedures.
The personal mobility devices segment is another segment of the industry, which is expected to exhibit the highest expansion rate during the forecast period. The rise in chronic illnesses as well as the geriatric population are bound to create opportunities for the growth of mobility devices. Factors catering to a reduced in the ability to move, and inability to function independently are responsible for driving the growth of the segment in the forecast period.
Key players are successfully initiating strategies like regional expansion, and product development through mergers and acquisitions as well as partnerships. For instance, in December 2020, Arjo acquired AirPal with the aim to expand its patient-handling portfolio as well as capturing a large portion of its share in the market. There is a presence of market players who are constantly working to introduce innovative and advanced technologies to provide cost-efficient products that can be utilized by patients remotely.
Research Support Specialist, USA