The global medical equipment rental market is expected to experience substantial growth and a positive outlook in the forecast period from 2022 to 2030. The market size is projected to increase from 23660.9 USD Million in 2022 to 48547.8 USD Million by 2030. Several factors are contributing to this growth trajectory. The growing demand for advanced medical equipment, cost-effectiveness of renting over purchasing, and the increasing prevalence of chronic diseases are driving the market expansion. Additionally, the impact of the Covid-19 pandemic has highlighted the importance of having access to medical equipment without the need for large capital investments, further boosting the rental market.
Post-Covid recovery is expected to accelerate the growth of the medical equipment rental market as healthcare facilities strive to enhance their capacity while managing costs effectively. The market sentiments are largely positive, with both providers and consumers recognizing the benefits of equipment rental in terms of flexibility, maintenance, and technological upgrades. Moreover, stringent regulations and standards in healthcare are pushing providers towards high-quality, state-of-the-art equipment, which can be more easily accessed through rental services.
Moving forward, key industry trends such as the adoption of telemedicine, personalized medicine, and the increasing focus on preventive care will further drive the demand for medical equipment rental. Market players are expected to invest in expanding their rental portfolios, enhancing customer service, and developing innovative rental models to stay competitive in the evolving landscape. Overall, the global medical equipment rental market is poised for significant growth in the coming years, with opportunities for expansion across different regions and healthcare segments.
https://www.databridgemarketresearch.com/reports/global-medical-equipment-rental-market
Data Bridge Market Research analyses that the medical equipment rental market which was USD 53.65 billion in 2021, would rocket up to USD 79.87 billion by 2029, and is expected to undergo a CAGR of 5.10% during the forecast period 2022 to 2029. In addition to the market insights such as market value, growth rate, market segments, geographical coverage, market players, and market scenario, the market report curated by the Data Bridge Market Research team also includes in-depth expert analysis, patient epidemiology, pipeline analysis, pricing analysis, and regulatory framework.
Some of the major players operating in the medical equipment rental market are:
- Apria Healthcare Group, Inc. (U.S)
- Centric Health Ltd. (Canada)
- Hill-ROM Services, Inc. (U.S)
- Nunn’s Home Medical Equipment (U.S)
- Huron Consulting Group Inc. (U.S)
- US Med-Equip, Inc. (U.S)
- Universal Health Services, Inc. (U.S)
- Woodley Equipment Company Ltd. (U.K)
- Walgreen Co. (U.S)
- Westside Medical Supply, Inc. (U.S)
- China Huarong Financial Leasing Co. Ltd., (China)
- Meridian Group International (U.S)
- Mizuho Leasing Company, Limited (Japan)
- MediCapital Rent (Netherlands)
- General Electric (U.K)
Global Medical Equipment Rental Market Analysis:
The global medical equipment rental market is witnessing robust growth driven by various factors such as the increasing demand for advanced medical equipment, cost-effectiveness of rental services, rising prevalence of chronic diseases, and the impact of the Covid-19 pandemic. Post-Covid recovery is expected to further accelerate market growth as healthcare facilities focus on enhancing capacity while controlling costs efficiently. Both providers and consumers are recognizing the benefits of equipment rental, including flexibility, maintenance, and access to state-of-the-art technology without large capital investments.
Global Medical Equipment Rental Market Segments:
Device Type:
- Personal/Home Care Equipment
- Electronic/Digital Equipment
- Surgical Equipment
- Durable Medical Equipment (Long Term Care, Acute Care, Emergency, and Trauma)
- Storage and Transport
End-user:
- Personal/Home Care Medical Equipment Rental (Chronic and Geriatric Patients, Preventive Care/Monitoring, Short Term and Outpatient Care)
- Institutional Medical Equipment Rental (Hospitals, Healthcare Centers, Medical Nursing Homes, Medical Research Laboratories/Institutions)
The industry trends shaping the medical equipment rental market include the adoption of telemedicine, personalized medicine, and a growing emphasis on preventive care. Market players are expected to invest in expanding their rental portfolios, improving customer service, and introducing innovative rental models to stay competitive. The market landscape offers significant opportunities for expansion across various regions and healthcare segments.
In conclusion, the global medical equipment rental market is poised for substantial growth in the forecast period. The market's positive outlook is supported by the increasing demand for advanced medical equipment, cost-effective rental solutions, and the evolving healthcare landscape post-Covid. As providers prioritize high-quality equipment and seek efficient ways to manage costs, the rental market is set to play a pivotal role in meeting these needs. Continued investments in technology, customer service, and diversification of rental offerings will drive growth and innovation in the medical equipment rental sector.
Market Players:
- Apria Healthcare Group, Inc. (U.S)
- Centric Health Ltd. (Canada)
- Hill-ROM Services, Inc. (U.S)
- Nunn’s Home Medical Equipment (U.S)
- Huron Consulting Group Inc. (U.S)
- US Med-Equip, Inc. (U.S)
- Universal Health Services, Inc. (U.S)
- Woodley Equipment Company Ltd. (U.K)
- Walgreen Co. (U.S)
- Westside Medical Supply, Inc. (U.S)
- China Huarong Financial Leasing Co. Ltd. (China)
- Meridian Group International (U.S)
- Mizuho Leasing Company, Limited (Japan)
- MediCapital Rent (Netherlands)
- General Electric (U.K)
The global medical equipment rental market is positioned for significant growth backed by factors such as increasing demand for sophisticated medical equipment, cost-effectiveness of rental services, and a rising prevalence of chronic diseases. Post-Covid recovery is set to propel market expansion as healthcare facilities aim to boost their capacity efficiently. The market sentiment is optimistic, with stakeholders recognizing the advantages of equipment rental in terms of adaptability, maintenance, and access to cutting-edge technology without hefty upfront investments.
Significant industry trends like the integration of telemedicine, personalized medicine, and a heightened emphasis on preventive care will further fuel the demand for medical equipment rental. Market leaders are expected to focus on expanding their rental portfolios, enhancing customer service, and introducing innovative rental models to stay competitive. The global medical equipment rental market offers lucrative opportunities for growth across various regions and healthcare segments.
As providers prioritize top-notch equipment and seek cost-effective solutions, the rental market is expected to play a pivotal role in meeting these evolving needs. Continued investments in technology, customer service, and diversification of rental offerings will be key drivers of growth and innovation in the medical equipment rental sector. The market landscape underscores the importance of agility and customer-centricity in catering to the evolving demands of healthcare providers and institutions.
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