Aeging population drives durable medical equipment market to $414b by 2034

APAC is positioned for substantial growth driven by improving healthcare.

The global durable medical equipment (DME) market is projected to reach US$414.05b by 2034, expanding at a compound annual growth rate of 5.8%, according to Polaris Market Research.

The report cites the ageing population as the most foundational driver of the market’s growth, as it translates into rising demand for mobility aids, patient monitoring systems, hospital-grade home care furniture, and respiratory equipment.

In line with this, the home healthcare segment is emerging as one of the fastest-growing end-use channels of the market.

Amongst product categories, the monitoring and therapeutic devices segment held the dominant market share in 2024.

On the end-use front, ambulatory surgical centres are expected to register the strongest growth through 2034, as minimally invasive surgeries become more common.

Whilst North America commanded a 38% revenue share, the Asia Pacific is positioned for substantial growth driven by improving healthcare infrastructure in China, India, and Southeast Asia.