Medical Equipment Rental Market To Reach $86.2 Billion By 2030

Medical Equipment Rental Market Growth & Trends

The global medical equipment rental market size is expected to reach USD 86.2 billion by 2030, according to a new report by Grand View Research, Inc., progressing at a CAGR of 5.9% from 2023 to 2030. The high number of geriatric and disabled population coupled with rising need for home healthcare products is propelling the market.

Rising demand for technologically advanced clinical devices and increasing healthcare expenditure is encouraging R&D activities in the medical devices industry are resulting in the launch of expensive variants of medical products. This is anticipated to positively influence the growth of the medical equipment rental market.

Dominance of durable medical equipment (DME) can be attributed to increasing adoption of personal mobility and assist aids by disabled individuals. In addition, surging demand for monitoring and therapeutic instruments owing to the increasing patient pool and continuous technological upgrades in these devices are spurring the growth of the DME rental market.

Emergence of financial services for leasing healthcare apparatus in the past few years has emerged to be a boon for hospitals, institutes, and other healthcare providers. Moreover, renting equipment confers cost benefits to end users, as it reduces ownership costs and in turn allows these players to adopt advanced product modules.

Rising concerns regarding palliative care coupled with regulatory transformations for the same are poised to augment the market. Regulatory transformation or programs adopted by hospitals for palliative care are resulting in increased demand for rental equipment.

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Medical Equipment Rental Market Report Highlights

• The durable medical equipment (DME) segment acquired the highest share of the market in 2022. The rising need for mobility and assistance equipment owing to the increasing disabled and geriatric population is contributing to market growth.

• The hospital segment accounted for the largest revenue share of around 41.1% of the market in 2022.

• North America dominated the market in terms of revenue share of over 32% in 2022.

Medical Equipment Rental Market Segmentation

Grand View Research has segmented the global medical equipment rental market based on product, end use, and region:

Medical Equipment Rental Product Outlook (Revenue, USD Million, 2018 - 2030)

• Surgical Equipment

• Durable Medical Equipment

  • Personal Mobility Devices

  • Bathroom Safety and Medical Furniture

  • Monitoring and Therapeutic Devices

• Storage and Transport

Medical Equipment Rental End-use Outlook (Revenue, USD Million, 2018 - 2030)

• Personal/Homecare

• Institutes and Laboratories

• Hospitals

Medical Equipment Rental Regional Outlook (Revenue, USD Million, 2018 - 2030)

• North America

  • U.S.

  • Canada

• Europe

  • UK

  • Germany

  • France

  • Italy

  • Spain

  • Denmark

  • Sweden

  • Norway

• Asia Pacific

  • Japan

  • China

  • India

  • Australia

  • Thailand

  • South Korea

• Latin America

  • Brazil

  • Mexico

  • Argentina

• Middle East and Africa

  • South Africa

  • Saudi Arabia

  • UAE

  • Kuwait

List of Key Players of Medical Equipment Rental Market

• Westside Medical Supply

• Universal Hospital Services

• Woodley Equipment Company Ltd.

• Nunn's Home Medical Equipment

• Siemens Financial Services, Inc.

• Stryker

• Hill-Rom Holdings Inc.

• Apria Healthcare Group Inc.

• Agiliti Health, Inc.

• Avante Health Solutions

• GE Healthcare

• US Med-Equip

• Centric Health Ltd.