A matroid has been one of the most important combinatorial structures since it was introduced by Whitney as an abstraction of linear independence. As an important property of a matroid, it can be characterized by several different (but equivalent) axioms, such as the augmentation, the base exchange, or the rank axiom. A supermatroid is a generalization of a matroid defined on lattices. Here, the central question is whether a supermatroid can be characterized by several equivalent axioms similar to a matroid. Barnabei, Nicoletti, and Pezzoli characterized supermatroids on distributive lattices, and Fujishige, Koshevoy, and Sano generalized the results for cg-matroids (supermatroids on lower locally distributive lattices). In this study, we focus on modular lattices, which are an important superclass of distributive lattices, and provide equivalent characterizations of supermatroids on modular lattices. We characterize supermatroids on modular lattices using the rank axiom in which the rank function is a directional DR-submodular function, which is a generalization of a submodular function introduced by the authors. Using a characterization based on rank functions, we further prove the strong exchange property of a supermatroid, which has application in optimization. We also reveal the relation between the axioms of a supermatroid on lower semimodular lattices, which is a common superclass of a lower locally distributive lattice and a modular lattice.