Durable Medical Equipment Market

1. Market Size & CAGR of Durable Medical Equipment Market in 2021

The global durable medical equipment market is estimated to reach a value of USD 189.87 billion in 2021 with a CAGR of 4.5%.

2. COVID-19 Impact on the Durable Medical Equipment Market

The COVID-19 pandemic had a significant impact on the durable medical equipment market. Due to the increased focus on healthcare infrastructure and the need for medical supplies, the market experienced a surge in demand for essential equipment such as ventilators, hospital beds, and personal protective equipment.

3. Durable Medical Equipment Dynamics

The dynamics of the durable medical equipment market are influenced by factors such as technological advancements, increasing prevalence of chronic diseases, and growing geriatric population. These factors drive the demand for innovative and high-quality medical devices.

4. Segments and Related Analysis

The durable medical equipment market is segmented based on product type, end-user, and geography. Product types include personal mobility devices, bathroom safety products, medical furniture, and monitoring & therapeutic devices.

5. By Region Analysis

The market analysis by region shows that North America dominates the durable medical equipment market, followed by Europe and Asia Pacific. The increasing healthcare expenditure and favorable reimbursement policies in these regions contribute to market growth.

6. Key Market Players and Competitive Landscape

The key players in the durable medical equipment market include Medtronic, Hill-Rom Holdings, Invacare Corporation, Drive DeVilbiss Healthcare, and Stryker Corporation. These companies focus on product innovation and strategic partnerships to maintain their competitive edge.

7. Recent Happenings in the Durable Medical Equipment Market

In recent developments, Medtronic launched a new range of durable medical equipment for home healthcare settings. Hill-Rom Holdings announced a merger with a leading medical technology company to expand its product portfolio. These advancements reflect the ongoing growth and innovation in the durable medical equipment market.