Durable Medical Equipment Rental Market through Bathroom Safety and Medical Furniture Rental to Swell at around 5.7% during 2023 - 2033, States Future Market Insights

Future Market Insights, a market research and competitive intelligence provider, analyzes that revenue through Durable Medical Equipment Rental is expected to witness a steady growth backed by the steady growth in demand of Bathroom Safety and Medical Furniture, which constitutes the largest market of Durable Medical Equipment Rental industry. According to the study, the global Durable Medical Equipment Rental market was valued at US$ 25.7 Bn in 2021 and is expected to expand at a CAGR of 5.7% during 2023-2033.

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Healthcare companies are currently operating in a dynamic environment, facing seismic shifts as a result of the advent of novel medical treatments and rising internet usage. Astute patients have become more cautious as a result of this, as well as unequaled online access to incredible volumes of information. As a result, there is an increased need for smart, economical, and personalized healthcare services. COVID-19 has also resulted in increased demand for healthcare and related products and services, which has boosted the overall performance of the healthcare business. This has created favorable conditions for the rental market of durable medical equipment.

Despite projected and exponential expansion, operators in the healthcare industry continue to struggle to find a sustainable financing alternative to invest in cutting-edge technology and equipment to keep up with an increasingly demanding client base. Rental medical equipment might be the next big thing in the global healthcare market, giving economical and cost-effective choices during difficult economic times.

However, the lack of consistent regulatory standards for medical equipment rental services and high costs is expected to stymie industry expansion. Simultaneously, it has been discovered that few medical gadgets come with insurance coverage, which will somehow hinder the growth of the global medical equipment rental industry.

In 2022, the market was dominated by North America. The reasons for this are its strong healthcare infrastructure and government backing of privately held hospitals, clinics, and diagnostic centers.

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Competitive Analysis

Some of the key players operating in the medical equipment rental market include Hill-Rom Holdings Inc., Stryker Corporation, Getinge AB, Siemens Financial Services Inc, Nunn's Home Medical Equipment, Westside Medical Supply, Universal Hospital Services, Inc., Woodley Equipment Company Ltd., GE Healthcare, C.N.Y. Medical Products Inc., All American Medical Supply Corp., and Homepro Medical Supplies, LLC.

Some of the recent developments of key Durable Medical Equipment Rental providers are as follows:

In June 2020, MedOne Company announced the launch of a new facility in North Carolina. U.S., for the rental and service of medical equipment.
In March 2020, Med-Equip announced the acquisition of Martab's equipment management services. The acquisition is being carried out to provide rentals of custom-made gadgets such as home testing kits.

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More Valuable Insights Available

Future Market Insights, in its new offering, presents an unbiased analysis of the Durable Medical Equipment Rental market, presenting historical market data (2018-2022) and forecast statistics for the period of 2023-2033.

The study reveals essential insights by Application (Personal Mobility Devices, Bathroom Safety, and Medical Furniture, Monitoring and Therapeutic Devices), and by End Use (Personal/Homecare, Institutes and laboratories, Hospitals) across key regions (North America, Latin America, Europe, East Asia, South Asia & Oceania, and the Middle East & Africa).

Market Segments Covered in Durable Medical Equipment Rental Market Analysis

By Application:

Personal Mobility Devices
Bathroom Safety and Medical Furniture
Monitoring and Therapeutic Devices

By End Use:

Personal/Homecare
Institutes and laboratories
Hospitals

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About FMI:

Future Market Insights (ESOMAR certified market research organization and a member of Greater New York Chamber of Commerce) provides in-depth insights into governing factors elevating the demand in the market. It discloses opportunities that will favor the market growth in various segments on the basis of Source, Application, Sales Channel and End Use over the next 9-years.

This release was published on openPR.