Home healthcare, ageing population to drive $414 billion medical equipment market by 2034

The global durable medical equipment (DME) market is expected to reach $414.05 billion by 2034, driven by rising chronic diseases, ageing populations and growing demand for home-based healthcare, according to a report by Polaris Market Research.  

The market, valued at $249.48 billion in 2025, is projected to grow at a compound annual growth rate (CAGR) of 5.8% between 2026 and 2034, the report said.  

India and other Asia Pacific markets are expected to contribute significantly to future growth as healthcare infrastructure expands and outpatient care gains traction.  

India’s growing burden of diabetes, cardiovascular disease and respiratory disorders, along with increasing adoption of home healthcare, is expected to support demand for durable medical equipment over the next decade. Industry experts say products such as oxygen concentrators, CPAP machines, wheelchairs, patient monitoring systems and home-use rehabilitation devices are witnessing wider adoption, particularly after the pandemic.

The report said rising prevalence of diabetes, cardiovascular diseases, chronic obstructive pulmonary disease (COPD), arthritis and sleep apnea is supporting demand for blood glucose monitors, infusion pumps and respiratory care equipment.  

Home healthcare is emerging as a key growth segment globally, with elderly patients increasingly opting for treatment and recovery at home instead of prolonged hospital stays. This is increasing demand for portable ventilators, remote monitoring devices and mobility-support equipment, according to the report.  

Among product categories, monitoring and therapeutic devices held the largest market share in 2024. The segment includes infusion pumps, patient monitors and respiratory care devices used for long-term disease management and post-operative care.  

The report also pointed to rising adoption of ambulatory surgical centres globally, increasing the need for compact and portable medical equipment for minimally invasive procedures and recovery care.  

North America accounted for 38% of the global DME market revenue in 2024, supported by insurance coverage and advanced healthcare infrastructure. However, Asia Pacific is expected to see faster expansion over the next decade due to improving healthcare access and government spending on elder care and chronic disease management.  

Manufacturers are also adding wireless connectivity and remote monitoring features to medical devices, including infusion pumps and mobility equipment.  

Major companies operating in the market include Medtronic, Stryker, Becton Dickinson and Cardinal Health.