With 4.2% CAGR, Medical Equipment Rental Market to Surpass US$ 70.95 Bn by 2028 - Global Analysis by TMR

The global 𝐦𝐞𝐝𝐢𝐜𝐚𝐥 𝐞𝐪𝐮𝐢𝐩𝐦𝐞𝐧𝐭 𝐫𝐞𝐧𝐭𝐚𝐥 𝐦𝐚𝐫𝐤𝐞𝐭 reached US$ 51.05 Bn in 2020 and is projected to grow at a CAGR of 4.2% from 2021 to 2028, reaching US$ 70.95 Bn by 2028.

Analysts foresee significant opportunities for rented medical equipment providers in the post-COVID-19 era, driven by the increasing demand for electronic and digital equipment. However, lack of transparency in rental agreements poses challenges for consumers in negotiating better pricing options. To address this, providers should collaborate with insurance companies to educate customers and medical practitioners about fair market value prices and insurance replacement costs. The healthcare industry is witnessing a notable shift from procurement to renting of medical devices, signaling a prominent trend for the future.

𝐃𝐨𝐰𝐧𝐥𝐨𝐚𝐝 𝐒𝐚𝐦𝐩𝐥𝐞 𝐏𝐃𝐅:
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𝐊𝐞𝐲 𝐃𝐫𝐢𝐯𝐞𝐫

𝐈𝐧𝐜𝐫𝐞𝐚𝐬𝐢𝐧𝐠 𝐏𝐫𝐞𝐯𝐚𝐥𝐞𝐧𝐜𝐞 𝐨𝐟 𝐂𝐡𝐫𝐨𝐧𝐢𝐜 𝐃𝐢𝐬𝐞𝐚𝐬𝐞𝐬 𝐭𝐨 𝐁𝐨𝐨𝐬𝐭 𝐌𝐚𝐫𝐤𝐞𝐭 𝐆𝐫𝐨𝐰𝐭𝐡

By 2030, cardiovascular disease-related deaths are expected to reach 23.3 million. Chronic conditions like hypertension, diabetes, and respiratory ailments necessitate consistent monitoring. Additionally, the American Diabetes Association predicts that by 2050, one in three U.S. adults will have diabetes. This surge in chronic disease diagnoses fuels demand for home health care devices and services, driving the rental medical equipment market. Consequently, the uptake of home care medical devices such as rehabilitation, diabetes supplies, and mobility aids is expected to rise.

𝐂𝐨𝐦𝐩𝐞𝐭𝐢𝐭𝐢𝐨𝐧 𝐋𝐚𝐧𝐝𝐬𝐜𝐚𝐩𝐞:
 
Apria Healthcare Group, Inc.,Centric Health Corporation.,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.,Walgreen Co.,Westside Medical Supply, Inc.
 
𝐌𝐚𝐫𝐤𝐞𝐭 𝐒𝐞𝐠𝐦𝐞𝐧𝐭𝐚𝐭𝐢𝐨𝐧:

𝐁𝐲 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

𝐁𝐲 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

𝐏𝐥𝐚𝐜𝐞 𝐚𝐧 𝐎𝐫𝐝𝐞𝐫 𝐂𝐨𝐩𝐲 𝐨𝐟 𝐭𝐡𝐞 𝐑𝐞𝐩𝐨𝐫𝐭:
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𝐊𝐞𝐲 𝐃𝐞𝐯𝐞𝐥𝐨𝐩𝐦𝐞𝐧𝐭𝐬:

In June 2020, MedOne Company stated that it would be opening a new center for providing rent and services of medical equipment. The new center is expected to open in North Carolina. U.S.

In March 2020, Med-Equip announced that it would acquire Martab equipment management services. The acquisition is being carried out in order to offer rentals of devices specially made such as home testing kits.

𝐑𝐞𝐠𝐢𝐨𝐧𝐬 𝐂𝐨𝐯𝐞𝐫𝐞𝐝:

North America
Latin America
Europe
Latin America
Middle East & Africa

The medical equipment rental market is poised for continued growth and innovation, driven by evolving healthcare needs and technological advancements. As healthcare providers strive to optimize resource utilization and improve patient outcomes, the demand for rental services is expected to soar.

𝐌𝐚𝐫𝐤𝐞𝐭 𝐓𝐫𝐞𝐧𝐝𝐬:

Adoption of innovative rental models such as pay-per-use and leasing agreements.

Integration of Internet of Things (IoT) and artificial intelligence (AI) technologies to enhance equipment efficiency and performance.

Growing emphasis on sustainability and eco-friendly rental practices.

𝐊𝐞𝐲 𝐌𝐚𝐫𝐤𝐞𝐭 𝐒𝐭𝐮𝐝𝐲 𝐏𝐨𝐢𝐧𝐭𝐬:

Market size and growth projections
Market segmentation analysis
Regional dynamics and growth opportunities
Key drivers, challenges, and trends shaping the market
Competitive landscape and strategic initiatives of key players

𝐁𝐫𝐨𝐰𝐬𝐞 𝐌𝐨𝐫𝐞 𝐑𝐞𝐩𝐨𝐫𝐭𝐬 𝐛𝐲 𝐓𝐌𝐑:

𝐁𝐫𝐚𝐤𝐞 𝐏𝐚𝐝 𝐌𝐚𝐫𝐤𝐞𝐭- https://www.globenewswire.com/news-release/2023/04/27/2656616/0/en/Brake-Pad-Market-is-Expected-to-Accelerate-at-a-Whopping-7-3-CAGR-Reaching-US-30-9-Billion-by-2031-Transparency-Market-Research.html

𝐇𝐞𝐚𝐥𝐭𝐡𝐜𝐚𝐫𝐞 𝐁𝐢𝐨𝐦𝐞𝐭𝐫𝐢𝐜𝐬 𝐌𝐚𝐫𝐤𝐞𝐭- https://www.globenewswire.com/news-release/2023/04/27/2656358/0/en/USD-74-08-Bn-Healthcare-Biometrics-Market-to-Expand-at-CAGR-of-15-5-during-2021-2028-Global-Analysis-by-Transparency-Market-Research.html

𝐀𝐛𝐨𝐮𝐭 𝐓𝐫𝐚𝐧𝐬𝐩𝐚𝐫𝐞𝐧𝐜𝐲 𝐌𝐚𝐫𝐤𝐞𝐭 𝐑𝐞𝐬𝐞𝐚𝐫𝐜𝐡

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