Global Medical Equipment Rental Market Projected to Grow at 6.3% CAGR, Reaching $81.59 Billion by 2029

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What Will the Medical Equipment Rental Industry Market Size Be by 2025?
In recent times, the medical equipment rental market has witnessed consistent expansion. Its size is projected to increase from $61.26 billion in 2024 to $63.94 billion in 2025, with a compound annual growth rate (CAGR) of 4.4%. Factors such as cost containment, regulatory compliance, flexibility and scalability, concentration on core competencies, and emerging markets have been instrumental in this growth seen in the historic period.

What's the Long-Term Growth Forecast for the Medical Equipment Rental Market Size Through 2029?
The market size for rented medical equipment is anticipated to undergo significant expansion in the coming years, with a projected growth to $81.59 billion by 2029. This corresponds to a compound annual growth rate (CAGR) of 6.3%. This expected growth over the forecast period can be credited to factors like escalating healthcare expenditures, the need for interim solutions, compliance with strict regulations, nimbleness in healthcare administration, and worldwide expansion. The forecast period is set to witness major trends such as a surge in the demand for cost-effective solutions, technological progress spurring rentals, the emergence of home healthcare services, needs for flexibility and scalability, and an emphasis on sustainable practices.

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What Are the Key Growth Drivers Fueling the Medical Equipment Rental Market Expansion?
The increasing number of hospitals, diagnostic labs, and surgery centers is anticipated to spur the expansion of the medical equipment rental industry. These facilities require a diverse range of medical equipment to provide top-tier healthcare services, but they may not have the necessary capital to purchase these devices outright. This is where medical equipment rental companies come in, offering a variety of equipment for short or long-term use as a cost-effective solution. For example, in December 2023, the Health Affairs, a non-profit organization based in the US, noted that revenues from US medical and diagnostic laboratories hit $4.5 trillion in 2022, a 4.1% rise from $4.3 trillion in 2021. Consequently, the burgeoning number of hospitals, diagnostic labs, and surgery centers is fueling the medical equipment rental industry's growth.

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What Are the Key Trends Driving Medical Equipment Rental Market Growth?
The rising trend in the medical equipment rental industry can be attributed to technological advancements. Large scale businesses in the sector are concentrating on creating innovative solutions to maintain their market stance. To illustrate, US Med-Equip, a firm specializing in medical and hospital equipment rentals based in the US, introduced the GoUSME App in May 2022. This digital platform, which is accessible as an iOS and Android application, has been uniquely designed to facilitate the ordering and management of rented medical equipment by front-line clinicians from US Med-Equip with a simple button click. It utilizes passive RFID technology in an open system format to identify and track mobile medical equipment rented or owned by healthcare providers. The function of the RFID reader in this system is to locate RFID-tagged equipment within hospitals for preventive maintenance.

How Is the Medical Equipment Rental Market Segmented?
The medical equipment rentalmarket 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

Subsegments:
1) By Personal Or Home Care Equipment: Wheelchairs, Hospital Beds, Oxygen Equipment, Mobility Aids
2) By Electronic Or Digital Equipment: Patient Monitors, Diagnostic Imaging Equipment, Infusion Pumps, Electrocardiogram (ECG) Machines
3) By Surgical Equipment: Surgical Instruments, Operating Tables, Anesthesia Machines, Surgical Lights
4) By Durable Medical Equipment: Crutches, Walkers, Shower Chairs, Lift Chairs
5) By Long Term Care: Bedside Monitors, Patient Lifts, Incontinence Supplies, Rehabilitation Equipment
6) By Acute Care: Ventilators, Cardiac Monitors, Infusion Pumps, Defibrillators
7) By Emergency And Trauma: Stretchers, Trauma Kits, Automated External Defibrillators (AEDs), Portable Suction Units
8) By Storage And Transport: Medical Carts, Transport Stretchers, Medical Storage Units, Refrigerators For Medications

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Which Companies Are Leading the Charge in Medical Equipment Rental Market Innovation?
Major companies operating in the medical equipment rental market include 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, 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.

Which Regions Are Leading the Global Medical Equipment Rental Market in Revenue?
North America was the largest region in the medical equipment rental market in 2024. The regions covered in the medical equipment rental market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa

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