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Medical Equipment Rental Market is Expected to Growing at a CAGR of 7.1% Till 2024 - Study By Technology, Key Players, Product and Regions

01-16-2020 09:03 AM CET | Industry, Real Estate & Construction

Press release from: Kenneth Research

Medical Equipment Rental Market Outlook and Detailed Insights of Major Players

Medical Equipment Rental Market Outlook and Detailed Insights of Major Players

Medical Equipment Rental Market Overview

Medical equipment rental is referred to the leasing or renting of medical equipment. Renting or leasing of medical equipment have emerged as an alternative to equipment purchasing to various end users such as medical institutions and others. Medical equipment can be rented on the basis of daily, weekly and monthly.

Market Size and Forecast

The global medical equipment rental market is expected to grow at a CAGR of 7.1% over the forecast period i.e. 2017-2024. Further, the market of medical equipment rental is riding on the back of numerous factors such as increasing healthcare infrastructure and rising preference for rental medical equipment due to affordable prices.

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On the basis of device, the global medical equipment rental market is segmented into personal/home care equipment, electronic/digital equipment, surgical equipment, durable medical equipment, and storage and transport. Further, durable medical equipment captured the largest market share in 2016. Additionally, durable medical equipment segment is envisioned to continue its dominance over the forecast period owing to high prevalence of diseases.

In terms of regional platform, Europe and North America regions are the most prominent regional market for medical equipment rental. Europe region is projected to dominate the overall market of medical equipment rental by the end of 2024 aided by Western European countries such as Germany, U.K. and others. Further, this growth of Europe region is attributed to numerous factors such as rapid urbanization and growing adoption of rental medical equipment.

North America region captured the second largest market of medical equipment rental in terms of revenue in 2016. Additionally, U.S. and Canada are the major countries witnessing the augmented demand medical equipment rental due to growing preference for rental medical equipment. Asia-Pacific region is believed to be the most lucrative market of medical equipment rental due to growing emerging economies such as China, India and others. Further, rising disposable income and positive GDP figures across the region are believed to flourish the growth of medical equipment rental market.

Major Key Players of Global Market:
Hill-Rom Holdings, Inc., Nunn’s Home Medical Equipment, Port Huron Hospital Medical Equipment, US Med-Equip, Inc., Universal Hospital Services, Inc., Woodley Equipment Company Ltd., Westside Medical Supply, Inc., Medone Group, Apria Healthcare Group, Inc., Siemens Financial Services, Inc., and Others

Market Segmentation:
By Device Type, By End-Users, By Technology, By Regions

Read More:
https://www.kennethresearch.com/report-details/medical-equipment-rental-market/10075643

Growth Drivers and Challenges

Factors such as growing prevalence of chronic diseases, rising healthcare expenditure, increasing adoption of rental medical equipment and growing old age population are believed to be the dynamic factor behind the rapid growth of medical equipment rental market. Moreover, increasing preference for rental medical equipment due to lower cost is envisioned to foster the growth of medical equipment rental market across the globe. Further, high demand for medical equipment rental from medical and healthcare institutions is also predicted to elevate the global medical equipment rental market.

Likely, rapid urbanization and growing GDP figures of the developed and developing nations are also expected to flourish the growth of medical equipment rental market by the end of 2024. Further, medical equipment rental market is driving on various factors such as shortened medical equipment life due to continuous technological advancement and high prices of new medical equipment. In addition to this, short replacement cycles of medical equipment further boost the demand for rental medical equipment.

However, lack of awareness regarding medical equipment rental is projected to dampen the growth of medical equipment rental market over the forecast period.

Contact Us
Name: David
Email: Sales@kennethresearch.com
Phone: +1 313 462 0609

About Kenneth Research:
Kenneth Research provides market research reports to different individuals, industries, associations and organizations with an aim of helping them to take prominent decisions. Our research library comprises of more than 10,000 research reports provided by more than 15 market research publishers across different industries. Our collection of market research solutions covers both macro level as well as micro level categories with relevant and suitable market research titles. As a global market research reselling firm, Kenneth Research provides significant analysis on various markets with pure business intelligence and consulting services on different industries across the globe. In addition to that, our internal research team always keep a track on the international and domestic market for any economic changes impacting the products’ demand, growth and opportunities for new and existing players.

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