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Global Medical Equipment Rental Market Growth Prospects, Future Industry Landscape 2033 | Hill-Rom Holdings Inc., Siemens Financial Service Inc., Nunn's home Medical Equipment, Westside Medical Supply
Medical Equipment Rental Global Market Report
The Business Research Company offers in-depth market insights through Medical Equipment Rental Global Market Report 2024, providing businesses with a competitive advantage by thoroughly analyzing the market structure, including estimates for numerous segments and sub-segments.
Market Size And Growth Forecast:
The medical equipment rental market size has grown strongly in recent years. It will grow from $58.83 billion in 2023 to $61.84 billion in 2024 at a compound annual growth rate (CAGR) of 5.1%. The growth in the historic period can be attributed to cost containment, regulatory compliance, flexibility and scalability, focus on core competencies, emerging markets.
The medical equipment rental market size is expected to see strong growth in the next few years. It will grow to $76.9 billion in 2028 at a compound annual growth rate (CAGR) of 5.6%. The growth in the forecast period can be attributed to rising healthcare costs, demand for short-term solutions, adherence to stringent regulations, agility in healthcare management, global expansion. Major trends in the forecast period include increasing demand for cost-effective solutions, technological advancements driving rentals, rise of home healthcare services, flexibility and scalability needs, focus on sustainable practices.
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Market Segmentation:
The medical equipment rental market covered in this report is segmented -
1) By Type: Personal Or Home Care Equipment, Electronic Or Digital Equipment, Surgical Equipment, Durable Medical Equipment, Long Term Care, Acute Care, Emergency And Trauma, Storage And Transport
2) By End-User: Hospitals, Personal Or Home Care, Institutional, Other End-Users
Major Driver - Expanding Healthcare Infrastructure Fuels Surge In Medical Equipment Rental Industry
The rise in the number of hospitals, diagnostic laboratories, and surgery centers is expected to propel the growth of medical equipment rental going forward. To deliver high-quality healthcare services, these facilities need a variety of medical equipment, but they might not have the funds to buy such equipment altogether. Medical equipment rental companies provide access to a variety of equipment on a short- or long-term basis, offering cost-effective alternatives. For instance, in March 2023, according to the United States Census Bureau, a US-based principal agency of the U.S. Federal Statistical System, the revenue of United States medical and diagnostic laboratories increased from $12.41 billion in Q2 2020 to $16.93 billion in Q2 2021. Furthermore, in August 2022, according to the Centers for Medicare and Medicaid Services (CMS), a US-based federal agency under the United States Department of Health and Human Services, the number of certified clinical laboratories in the United States increased by about 13 percent, from 2,86,396 in 2020 to 3,23,086 in 2021. The rise in the number of hospitals, diagnostic laboratories, and surgery centers is driving the growth of the medical equipment rental market.
Competitive Landscape:
Major companies operating in the medical equipment rental market report are Hill-Rom Holdings Inc., Siemens Financial Service Inc., Nunn's home Medical Equipment, Westside Medical Supply, Universal Hospital Services Inc., Woodley Equipment Company Ltd., Apria Healthcare Group Inc., Centric Health Corporation, AGITO Medical A/S, US Med-Equip Inc., Walgreen Co., General Electric, Huron Consulting Group Inc., China Huarong Financial Leasing Co. Ltd., Meridian Group International, Mizuho Leasing Company Limited, Stryker Corporation, Agiliti Inc., Avante Health Solutions, United Rentals Inc., Block Imaging, Jamie's Medical Imaging, PrizMED Imaging, Radiology Oncology Systems Inc., National Diagnostic Imaging, Providian Medical Equipment Inc., Future Health Concepts Inc., Direct Medical Imaging LLC, Multi Imager Service Inc.
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Top Trend - Innovative Technological Advancements Transforming The Landscape Of Medical Equipment Rental
Technological advancements are a key trend gaining popularity in the medical equipment rental market. Major companies operating in the medical equipment rental market are focused on developing new solutions to sustain their position in the market. For instance, in May 2022, US Med-Equip, a US-based provider of medical equipment rentals and hospital equipment rentals, launched the GoUSME App, an online portal and iOS and Android app. It is uniquely designed to help front-line clinicians order and manage rented medical equipment from US Med-Equip with the click of a button. It is an open system that employs passive RFID technology to identify and pinpoint mobile medical equipment that is owned and rented by healthcare providers. The RFID reader scans help hospitals locate RFID-tagged equipment to conduct preventative maintenance.
The Table Of Content For The Market Report Include:
1. Executive Summary
2. Medical Equipment Rental Market Characteristics
3. Medical Equipment Rental Market Trends And Strategies
4. Medical Equipment Rental Market - Macro Economic Scenario
5. Medical Equipment Rental Market Size And Growth
…..
27. Medical Equipment Rental Market Competitor Landscape And Company Profiles
28. Key Mergers And Acquisitions
29. Future Outlook and Potential Analysis
30. Appendix
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