Analysts’ Viewpoint on Medical Equipment Rental Market Scenario
Future trends of digitization are translating into value-grab opportunities for rented medical equipment providers post the COVID-19 pandemic period with an anticipated demand for electronic and digital equipment. Most rental medical equipment service providers do not reveal historical evidences of low rates, fair market value, insurance replacement cost, and added advantages, including post agreement services. Therefore, consumers remain unaware of the complete rental agreements and are unable to negotiate for a better pricing option. Hence, rented medical equipment providers should team-up with insurance companies that educate customers & medical practitioners about fair market value prices and insurance replacement costs. A shift in trend from procuring to renting of medical devices in the healthcare industry has become a prominent trend.
Companies in the global medical equipment rental market are increasing the manufacturing of personal & home care equipment, electronic & digital equipment, surgical equipment, and durable medical equipment, among others. Durable medical equipment is being publicized for long-term care needs, acute care, and emergency care & trauma based on the duration of their requirements and their standards.
The durable medical equipment segment accounted for a major revenue share of the global market in 2020 due to the high cost and increased demand for state-of-the-art systems. This trend is likely to continue due to the increase in geriatric population across the world.
Request a sample to get extensive insights into the Medical Equipment Rental Market
The rising need for services of home healthcare, owing to diminished hospital stays during the ongoing COVID-19 pandemic, is estimated to fuel growth of the global medical equipment rental market. Furthermore, the increasing number of disabled and geriatric patients is anticipated to generate the demand for rental devices in the forthcoming years.
Rising incidences of skeletal or brain disorders and muscular dystrophy are resulting in rise in the number of disabled population. The patients suffering from various chronic disorders opt for treatment at home in an effort to avoid long stays at hospitals. These patients could choose from a wide range of medical devices on rent in a bid to avoid long stays at hospital. This factor is likely to support the growth of the medical equipment rental market in the years to come.
To understand how our report can bring difference to your business strategy, Ask for a brochure
The revenue share of durable medical equipment is likely to observe profitable growth during the forecast period, owing to its extensive use in the treatment and diagnosis of different types of disorders. The rising incidences of gynecological complications, neurological disorders, cancer, and cardiac disorders necessitate surgical interventions on many occasions. This leads to long-term recovery and care, which generates the demand for durable medical equipment. However, it has been found that few medical devices come with insurance coverage, which is likely to act against the expansion of the global medical equipment rental market over the assessment tenure.
On the other hand, smaller hospitals as well as individual patients enter much more expensive rental agreement than necessary due to the lack of awareness and proper knowledge associated with medical equipment rental & leasing. Hence, med-tech companies should work closely with governments & healthcare organizations to increase acceptance of medical equipment rental, which will encourage insurance companies to include it under reimbursement and will educate potential customers & medical practitioners about adequate rental prices.
Stuck in a neck-to-neck competition with other brands? Request a custom report on Medical Equipment Rental Market
Considering regional platform, both North America and Europe are likely to emerge as the most promising zones for the medical equipment rental market. The medical equipment rental market in Europe is estimated to witness substantial growth over the projection period. The region is expected to dominate the global market. Rising incidences of chronic diseases with development of the healthcare infrastructure is likely to boost the market in Europe.
North America is projected to emerge as another prominent region in the global medical equipment rental market. Driven by Canada and the U.S., the medical equipment rental market in the region is likely to observe growth on the back of rising preference for renting such equipment as opposed to buying. Asia Pacific is likely to be one of the most lucrative regions for the market. Increased disposable income together with rising expenditure for the development of healthcare infrastructure presents ample scope for growth of the medical equipment rental market in Asia Pacific.
|
Attribute |
Detail |
|
Market Size Value in 2020 |
US$ 51.05 Bn |
|
Market Forecast Value in 2028 |
US$ 70.95 Bn |
|
Growth Rate (CAGR) |
4.2% |
|
Forecast Period |
2021–2028 |
|
Quantitative Units |
US$ Bn for Value |
|
Market Analysis |
It includes cross segment analysis at global as well as regional level. Moreover, qualitative analysis includes drivers, restraints, opportunities, key trends, and parent industry overview. |
|
Competition Landscape |
|
|
Format |
Electronic (PDF) + Excel |
|
Market Segmentation |
|
|
Regions Covered |
|
|
Countries Covered |
|
|
Companies Profiled |
|
|
Customization Scope |
Available upon request |
|
Pricing |
Available upon request |
Medical Equipment Rental Market – Segmentation
| Device Type |
|
| End-user |
|
| Region |
|
Medical equipment rental market is expected to reach the value of US$ 70.95 Bn by the end of 2028
Medical equipment rental market to expand at a CAGR of 4.2% from 2021 to 2028
Medical equipment rental market is driven by increasing prevalence of chronic diseases
The durable medical equipment segment accounted for a major revenue share of the global medical equipment rental market
Key players in the global medical equipment rental market include Apria Healthcare Group, Inc., Centric Health Corporation., Hill-ROM Holdings, Inc., Nunn’s Home Medical Equipment, Port Huron Hospital Medical Equipment
1. Preface
1.1. Market Definition and Scope
1.2. Market Segmentation
1.3. Key Research Objectives
1.4. Research Highlights
2. Assumptions and Research Methodology
3. Executive Summary: Global Medical Equipment Rental Market
4. Market Overview
4.1. Introduction
4.1.1. Device Type Definition
4.2. Overview
4.3. Market Dynamics
4.3.1. Drivers
4.3.2. Restraints
4.3.3. Opportunities
4.4. Global Medical Equipment Rental Market Analysis and Forecasts, 2017–2028
4.4.1. Market Revenue Projections (US$ Mn)
5. Key Insights
5.1. Key Industry Developments
5.2. Future Market Outlook
5.3. Porter’s Five Force Analysis
5.4. COVID-19 Pandemics Impact on Industry (Value Chain and Short / Mid / Long Term Impact)
6. Global Medical Equipment Rental Market Analysis and Forecasts, By Device Type
6.1. Introduction & Definition
6.2. Key Findings / Developments
6.3. Global Medical Equipment Rental Market Value Forecast, by Device Type, 2017–2028
6.3.1. Personal/ Home Care Equipment
6.3.2. Electronic/Digital Equipment
6.3.3. Surgical Equipment
6.3.4. Durable Medical Equipment
6.3.4.1. Long Term care
6.3.4.2. Acute Care
6.3.4.3. Emergency and Trauma
6.3.5. Storage and Transport
6.4. Global Medical Equipment Rental Market Attractiveness, by Device Type
7. Global Medical Equipment Rental Market Analysis and Forecasts, By End-user
7.1. Introduction & Definition
7.2. Key Findings / Developments
7.3. Global Medical Equipment Rental Market Value Forecast, by End-user, 2017–2028
7.3.1. Personal/Home Care Medical Equipment Rental
7.3.1.1. Chronic and Geriatric Patients
7.3.1.2. Short Term and Outpatient Care
7.3.2. Institutional Medical Equipment Rental
7.3.2.1. Hospitals
7.3.2.2. Healthcare Centers
7.3.2.3. Medical Nursing Homes
7.3.2.4. Medical Research Laboratories/Institutions
7.4. Global Medical Equipment Rental Market Attractiveness, by End-user
8. Global Medical Equipment Rental Market Analysis and Forecasts, By Region
8.1. Key Findings
8.2. Global Medical Equipment Rental Market Value Forecast, by Region
8.2.1. North America
8.2.2. Europe
8.2.3. Asia Pacific
8.2.4. Latin America
8.2.5. Middle East & Africa
8.3. Global Medical Equipment Rental Market Attractiveness, by Country/Region
9. North America Medical Equipment Rental Market Analysis and Forecast
9.1. Introduction
9.1.1. Key Findings
9.2. North America Medical Equipment Rental Market Value Forecast, by Device Type, 2017–2028
9.2.1. Personal/ Home Care Equipment
9.2.2. Electronic/Digital Equipment
9.2.3. Surgical Equipment
9.2.4. Durable Medical Equipment
9.2.4.1. Long Term care
9.2.4.2. Acute Care
9.2.4.3. Emergency and Trauma
9.2.5. Storage and Transport
9.3. North America Medical Equipment Rental Market Value Forecast, by End-user, 2017–2028
9.3.1. Personal/Home Care Medical Equipment Rental
9.3.1.1. Chronic and Geriatric Patients
9.3.1.2. Short Term and Outpatient Care
9.3.2. Institutional Medical Equipment Rental
9.3.2.1. Hospitals
9.3.2.2. Healthcare Centers
9.3.2.3. Medical Nursing Homes
9.3.2.4. Medical Research Laboratories/Institutions
9.4. North America Medical Equipment Rental Market Value Forecast, by Country, 2017–2028
9.4.1. U.S.
9.4.2. Canada
9.5. North America Medical Equipment Rental Market Attractiveness Analysis
9.5.1. By Device Type
9.5.2. By End-user
9.5.3. By Country
10. Europe Medical Equipment Rental Market Analysis and Forecast
10.1. Introduction
10.1.1. Key Findings
10.2. Europe Medical Equipment Rental Market Value Forecast, by Device Type, 2017–2028
10.2.1. Personal/ Home Care Equipment
10.2.2. Electronic/Digital Equipment
10.2.3. Surgical Equipment
10.2.4. Durable Medical Equipment
10.2.4.1. Long Term care
10.2.4.2. Acute Care
10.2.4.3. Emergency and Trauma
10.2.5. Storage and Transport
10.3. Europe Medical Equipment Rental Market Value Forecast, by End-user, 2017–2028
10.3.1. Personal/Home Care Medical Equipment Rental
10.3.1.1. Chronic and Geriatric Patients
10.3.1.2. Short Term and Outpatient Care
10.3.2. Institutional Medical Equipment Rental
10.3.2.1. Hospitals
10.3.2.2. Healthcare Centers
10.3.2.3. Medical Nursing Homes
10.3.2.4. Medical Research Laboratories/Institutions
10.4. Europe Medical Equipment Rental Market Value Forecast, by Country/Sub-region, 2017–2028
10.4.1. Germany
10.4.2. U.K.
10.4.3. France
10.4.4. Italy
10.4.5. Spain
10.4.6. Rest of Europe
10.5. Europe Medical Equipment Rental Market Attractiveness Analysis
10.5.1. By Device Type
10.5.2. By End-user
10.5.3. By Country/Sub-region
11. Asia Pacific Medical Equipment Rental Market Analysis and Forecast
11.1. Introduction
11.1.1. Key Findings
11.2. Asia Pacific Medical Equipment Rental Market Value Forecast, by Device Type, 2017–2028
11.2.1. Personal/ Home Care Equipment
11.2.2. Electronic/Digital Equipment
11.2.3. Surgical Equipment
11.2.4. Durable Medical Equipment
11.2.4.1. Long Term care
11.2.4.2. Acute Care
11.2.4.3. Emergency and Trauma
11.2.5. Storage and Transport
11.3. Asia Pacific Medical Equipment Rental Market Value Forecast, by End-user, 2017–2028
11.3.1. Personal/Home Care Medical Equipment Rental
11.3.1.1. Chronic and Geriatric Patients
11.3.1.2. Short Term and Outpatient Care
11.3.2. Institutional Medical Equipment Rental
11.3.2.1. Hospitals
11.3.2.2. Healthcare Centers
11.3.2.3. Medical Nursing Homes
11.3.2.4. Medical Research Laboratories/Institutions
11.4. Asia Pacific Medical Equipment Rental Market Value Forecast, by Country/Sub-region, 2017–2028
11.4.1. China
11.4.2. Japan
11.4.3. India
11.4.4. Australia & New Zealand
11.4.5. Rest of Asia Pacific
11.5. Asia Pacific Medical Equipment Rental Market Attractiveness Analysis
11.5.1. By Device Type
11.5.2. By End-user
11.5.3. By Country/Sub-region
12. Latin America Medical Equipment Rental Market Analysis and Forecast
12.1. Introduction
12.1.1. Key Findings
12.2. Latin America Medical Equipment Rental Market Value Forecast, by Device Type, 2017–2028
12.2.1. Personal/ Home Care Equipment
12.2.2. Electronic/Digital Equipment
12.2.3. Surgical Equipment
12.2.4. Durable Medical Equipment
12.2.4.1. Long Term care
12.2.4.2. Acute Care
12.2.4.3. Emergency and Trauma
12.2.5. Storage and Transport
12.3. Latin America Medical Equipment Rental Market Value Forecast, by End-user, 2017–2028
12.3.1. Personal/Home Care Medical Equipment Rental
12.3.1.1. Chronic and Geriatric Patients
12.3.1.2. Short Term and Outpatient Care
12.3.2. Institutional Medical Equipment Rental
12.3.2.1. Hospitals
12.3.2.2. Healthcare Centers
12.3.2.3. Medical Nursing Homes
12.3.2.4. Medical Research Laboratories/Institutions
12.4. Latin America Medical Equipment Rental Market Value Forecast, by Country/Sub-region, 2017–2028
12.4.1. Brazil
12.4.2. Mexico
12.4.3. Rest of Latin America
12.5. Latin America Medical Equipment Rental Market Attractiveness Analysis
12.5.1. By Device Type
12.5.2. By End-user
12.5.3. By Country/Sub-region
13. Middle East & Africa Medical Equipment Rental Market Analysis and Forecast
13.1. Introduction
13.1.1. Key Findings
13.2. Middle East & Africa Medical Equipment Rental Market Value Forecast, by Device Type, 2017–2028
13.2.1. Personal/ Home Care Equipment
13.2.2. Electronic/Digital Equipment
13.2.3. Surgical Equipment
13.2.4. Durable Medical Equipment
13.2.4.1. Long Term care
13.2.4.2. Acute Care
13.2.4.3. Emergency and Trauma
13.2.5. Storage and Transport
13.3. Middle East & Africa Medical Equipment Rental Market Value Forecast, by End-user, 2017–2028
13.3.1. Personal/Home Care Medical Equipment Rental
13.3.1.1. Chronic and Geriatric Patients
13.3.1.2. Short Term and Outpatient Care
13.3.2. Institutional Medical Equipment Rental
13.3.2.1. Hospitals
13.3.2.2. Healthcare Centers
13.3.2.3. Medical Nursing Homes
13.3.2.4. Medical Research Laboratories/Institutions
13.4. Middle East & Africa Medical Equipment Rental Market Value Forecast, by Country/Sub-region, 2017–2028
13.4.1. GCC Countries
13.4.2. South Africa
13.4.3. Rest of Middle East & Africa
13.5. Middle East & Africa Medical Equipment Rental Market Attractiveness Analysis
13.5.1. By Device Type
13.5.2. By End-user
13.5.3. By Country/Sub-region
14. Competition Landscape
14.1. Market Player – Competition Matrix (By Tier and Size of companies)
14.2. Market Share/Ranking Analysis By Company (2020)
14.3. Company Profiles
14.3.1. Apria Healthcare Group, Inc.
14.3.1.1. Company Overview
14.3.1.2. Business Overview
14.3.1.3. Financial Overview
14.3.1.4. SWOT Analysis
14.3.1.5. Strategic Overview
14.3.2. Centric Health Corporation
14.3.2.1. Company Overview
14.3.2.2. Business Overview
14.3.2.3. Financial Overview
14.3.2.4. SWOT Analysis
14.3.2.5. Strategic Overview
14.3.3. Hill-Rom Holdings, Inc.
14.3.3.1. Company Overview
14.3.3.2. Business Overview
14.3.3.3. Financial Overview
14.3.3.4. SWOT Analysis
14.3.3.5. Strategic Overview
14.3.4. Nunn’s Home Medical Equipment
14.3.4.1. Company Overview
14.3.4.2. Business Overview
14.3.4.3. Financial Overview
14.3.4.4. SWOT Analysis
14.3.4.5. Strategic Overview
14.3.5. Siemens Financial Services, Inc.
14.3.5.1. Company Overview
14.3.5.2. Business Overview
14.3.5.3. Financial Overview
14.3.5.4. SWOT Analysis
14.3.5.5. Strategic Overview
14.3.6. Universal Hospital Services, Inc.
14.3.6.1. Company Overview
14.3.6.2. Business Overview
14.3.6.3. Financial Overview
14.3.6.4. SWOT Analysis
14.3.6.5. Strategic Overview
14.3.7. US Med-Equip, Inc.
14.3.7.1. Company Overview
14.3.7.2. Business Overview
14.3.7.3. Financial Overview
14.3.7.4. SWOT Analysis
14.3.7.5. Strategic Overview
14.3.8. Westside Medical Supply
14.3.8.1. Company Overview
14.3.8.2. Business Overview
14.3.8.3. Financial Overview
14.3.8.4. SWOT Analysis
14.3.8.5. Strategic Overview
14.3.9. Woodley Equipment Company Ltd.
14.3.9.1. Company Overview
14.3.9.2. Business Overview
14.3.9.3. Financial Overview
14.3.9.4. SWOT Analysis
14.3.9.5. Strategic Overview
List of Tables
Table 1: Market Snapshot: Global Medical Equipment Rental Market
Table 2: Global Medical Equipment Rental Market Revenue, by Device Type, (US$ Mn) 2017 – 2028
Table 3: Global Durable Medical Equipment Rental Market Revenue, (US$ Mn) 2017 – 2028
Table 4: Global Medical Equipment Rental Market Revenue, by End-user, (US$ Mn) 2017 – 2028
Table 5: Global Medical Equipment Rental Market Revenue, by Personal/Home Care Medical Equipment Rental, (US$ Mn) 2017 – 2028
Table 6: Global Medical Equipment Rental Market Revenue, by Institutional Medical Equipment Rental, (US$ Mn) 2017 – 2028
Table 7: Global Medical Equipment Rental Market Revenue, by Geography, (US$ Mn) 2017 – 2028
Table 8: North America Equipment Rental Market Revenue, by Device Type, (US$ Mn) 2017 – 2028
Table 9: North America Medical Equipment Rental Market Revenue, by End-user, (US$ Mn) 2017 – 2028
Table 10: Europe Equipment Rental Market Revenue, by Device Type, (US$ Mn) 2017 – 2028
Table 11: Europe Medical Equipment Rental Market Revenue, by End-user, (US$ Mn) 2017 – 2028
Table 12: Asia Pacific Equipment Rental Market Revenue, by Device Type, (US$ Mn) 2017 – 2028
Table 13: Asia Pacific Medical Equipment Rental Market Revenue, by End-user, (US$ Mn) 2017 – 2028
Table 14: Latin America Equipment Rental Market Revenue, by Device Type, (US$ Mn) 2017 – 2028
Table 15: Latin America Medical Equipment Rental Market Revenue, by End-user, (US$ Mn) 2017 – 2028
Table 16: Middle East & Africa Equipment Rental Market Revenue, by Device Type, (US$ Mn) 2017 – 2028
Table 17: Middle East & Africa Medical Equipment Rental Market Revenue, by End-user, (US$ Mn) 2017 – 2028
List of Figures
Figure 1: Global Medical Equipment Rental Market Segmentation
Figure 2: Global Medical Equipment Rental Market, by Device Type, (US$ Mn) 2017
Figure 3: Global Medical Equipment Rental Market, by End-user, (US$ Mn) 2017
Figure 4: Comparative Analysis: Global Medical Equipment Rental Market, by Geography, (Value %) 2017 and 2028
Figure 5: Medical Equipment Rental Market, Drivers and Restraints
Figure 6: Global Percentage Change in the World’s Population by Age: 2010-2050
Figure 7: Porter’s Five Forces Analysis: Medical Equipment Rental Market
Figure 8: Global Medical Equipment Rental Market: Value Chain Analysis
Figure 9: Market Attractiveness Analysis: Global Medical Equipment Rental Market, by Geography
Figure 10: Heat Map Analysis for Global Medical Equipment Rental Market by Key Market Players
Figure 11: Global Durable Medical Equipment Rental Market Revenue, by Acute Care, (US$ Mn) 2017 – 2028
Figure 12: Global Durable Medical Equipment Rental Market Revenue, by Long-term Care, (US$ Mn) 2017 – 2028
Figure 13: Global Durable Medical Equipment Rental Market Revenue, by Emergency and Trauma Care, (US$ Mn), 2017 – 2028
Figure 14: Global Surgical Equipment Rental Market Revenue, (US$ Mn) 2017 – 2028
Figure 15: Global Personal/Home Care Equipment Rental Market Revenue, (US$ Mn) 2017 – 2028
Figure 16: Global Electronic/Digital Equipment Rental Market Revenue, (US$ Mn) 2017 – 2028
Figure 17: Global Storage and Transport Equipment Rental Market Revenue, (US$ Mn) 2017 – 2028
Figure 18: Global Personal/Home Care Medical Equipment Rental Market Revenue, by Chronic and Geriatric Patients, (US$ Mn) 2017– 2028
Figure 19: Global Personal/Home Care Medical Equipment Rental Market Revenue, by Preventive Care/Monitoring, (US$ Mn) 2017– 2028
Figure 20: Global Personal/Home Care Medical Equipment Rental Market Revenue, by Short Term and Outpatient Care, (US$ Mn) 2017– 2028
Figure 21: Global Institutional Medical Equipment Rental Market Revenue, by Hospitals, (US$ Mn) 2017 – 2028
Figure 22: Global Institutional Medical Equipment Rental Market Revenue, by Healthcare Centers, 2017 – 2028 (US$ Mn)
Figure 23: Global Institutional Medical Equipment Rental Market Revenue, by Medical Nursing Homes, 2017 – 2028 (US$ Mn)
Figure 24: Global Institutional Medical Equipment Rental Market Revenue, by Medical Research Laboratories/Institutions, (US$ Mn) 2017 – 2028
Figure 25: Apria Healthcare Group, Inc.: Annual Revenue, (US$ Mn) 2017– 2028
Figure 26: Centric Health Corporation: Annual Revenue, (US$ Mn) 2017– 2028
Figure 27: Hill-Rom Holdings, Inc.: Annual Revenue, (US$ Mn) 2017– 2028
Figure 28: Siemens AG.: Annual Revenue, (US$ Mn) 2017– 2028
Figure 29: Universal Hospital Services, Inc.: Annual Revenue, (US$ Mn) 2017– 2028
Figure 30: Nunn’s Home Medical Equipment: Annual Revenue, (US$ Mn) 2017– 2028
Figure 31: US Med-Equip, Inc.: Annual Revenue, (US$ Mn) 2017– 2028
Figure 32: Westside Medical Supply: Annual Revenue, (US$ Mn) 2017– 2028
Figure 32: Woodley Equipment Company Ltd.: Annual Revenue, (US$ Mn) 2017– 2028
Copyright © Transparency Market Research, Inc. All Rights reserved
Trust Online
Medical Equipment Rental Market
