Medical Equipment Rental Market Forecast to 2033: How the Geriatric Boom and Chronic Disease Are Fueling Growth

The global medical equipment rental market is undergoing a significant transformation. Flexible rental models for medical devices are gaining traction as healthcare providers, home-care agencies and patients seek cost-effective, up-to-date solutions rather than large outright purchases. According to a recent study by Straits Research, the market size is estimated at USD 63.5 billion in 2025 and is projected to reach USD 97.45 billion by 2033, representing a compound annual growth rate (CAGR) of 5.5 % during the forecast period.

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Market growth drivers:
A number of macro-drivers underpin this expansion. First, the increasing prevalence of chronic diseases worldwide including diabetes, cardiovascular and respiratory disorders means that long-term patient-care equipment is in higher demand. Patients and providers are turning to rental models to manage cost and access technology without heavy capital outlay.

Second, the rapidly growing geriatric population further amplifies demand. Older adults typically require mobility aids, hospital beds, monitoring devices and other support equipment items which they may prefer to rent rather than purchase outright. According to projections by the United Nations Department of Economic and Social Affairs, the number of people aged 60 or older is expected to reach some 2.1 billion by 2050.

Thirdly, technological innovation is reshaping rental opportunities. The rise of telemedicine, portable diagnostics, smart and IoT-enabled medical devices is broadening what can be rented and how it is used and rental companies that incorporate such advanced equipment are better positioned to differentiate and capture market share.

Segmental highlights:
Within the market, not all segments are equal. Among product categories, the Durable Medical Equipment (DME) segment dominates rental usage especially devices designed for repeated use in the home or non-acute settings (e.g., wheelchairs, hospital beds, oxygen concentrators).

From an end-user perspective, the Personal/Home Care segment leads. This reflects the shift toward home-based care and outpatient settings, where renting equipment provides flexibility, lowers cost and makes latest-generation devices accessible.

Regionally, North America remains the largest market and is expected to maintain a substantial share going forward. Factors include a high equipment-adoption rate, growing home-care demand, strong infrastructure and multiple rental service providers.

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Challenges and restraints:
That said, the market is not without hurdles. Regulatory and compliance challenges present significant barriers rental companies must meet rigorous safety, efficacy and quality standards (for example, in the U.S., via the Food and Drug Administration (FDA) regime), and disparate global regulations can complicate multinational operations.

Moreover, rental models require strong equipment maintenance, logistics, lifecycle management and resale planning which can raise operational complexity and cost for providers.

Opportunities:
On the opportunity front, companies that integrate advanced devices such as wearable monitors, portable imaging or diagnostic tools, telehealth-enabled equipment in to rental portfolios can capture large new segments. The home-care shift and outpatient expansion offer fertile ground for rental business models that combine device, service and upgrade flexibility.

Emerging geographies also offer growth potential, particularly as healthcare infrastructure in Asia-Pacific, Latin America, Middle East & Africa expands and rental becomes a cost-effective strategy for providers and patients alike.

Competitive landscape:
Key players shaping the market include (in alphabetical list):
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.

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These companies are pursuing strategies such as service expansion, partnerships, acquisitions, rental-network growth and technology upgrades in order to meet changing customer demands. For example, in March 2024, Med One Group formed a partnership with iMedical Equipment & Service (also known as iMedical Healthcare Solutions) to offer hospitals a broad equipment‐rental solution across 18 facilities in the U.S.

Outlook:
Looking ahead, with the global market expected to reach USD 97.45 billion by 2033 (CAGR 5.5 % from 2025-2033) according to the latest Straits Research forecast, rental models are set to become ever more central in healthcare device procurement and lifecycle-management strategies.

For stakeholders manufacturers, rental service providers, healthcare institutions, investors this landscape suggests that rental will increasingly be viewed not just as a cost-alternative, but as a strategic asset enabling access to newer equipment, improved flexibility, faster deployment and enhanced patient-care models.

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This release was published on openPR.