Medical Equipment Rental Market By Type (Durable medical equipment, Electronic medical equipment, Storage and transport equipment, Others), By End User (Home care, Hospitals, Others): Global Opportunity Analysis and Industry Forecast, 2023-2032

Description

List of Tables

According to a new report published by Allied Market Research, titled, "Medical Equipment Rental Market," The medical equipment rental market was valued at $56.0 billion in 2022, and is estimated to reach $94.5 billion by 2032, growing at a CAGR of 5.4% from 2023 to 2032. The medical equipment rental market refers to the industry that provides temporary access to various medical devices and equipment on a rental basis. It caters to healthcare facilities such as hospitals, clinics, nursing homes, and even individual patients who require specialized equipment for a limited period. The rental medical equipment offers an alternative to purchasing expensive medical equipment, allowing healthcare providers to access a wide range of devices without the need for significant upfront investments. The market includes wide range of products available, including mobility aids, respiratory equipment, patient monitoring systems, therapeutic devices, and surgical equipment. Medical equipment is commonly provided by medical equipment rental companies, healthcare institutions, and online platforms, offering cost-effective and flexible options for healthcare operations.

The medical equipment rental market growth is driven by cost efficiency and flexibility of medical rental equipment, increasing focus on home healthcare, and increase in number of disabled patient population. The renting of medical equipment eliminates the need for large capital investments, which surge the demand for cost-effective healthcare solutions. The rental solutions aim to provide high-quality healthcare services at affordable prices, making the medical equipment accessible to a larger population. By opting for medical equipment in rent, instead of purchasing expensive equipment outright, healthcare providers can significantly reduce the capital expenditures. This cost-saving strategy allows them to allocate their financial resources more efficiently, directing them towards improving patient care and expanding healthcare services.

The rental model offers several advantages such as cost effectivity and flexibility to healthcare facilities. Rental equipment eliminates the need for large upfront investments in purchasing medical equipment, which can be financially burdensome, especially for smaller clinics and healthcare centers. Instead, healthcare providers can rent the required equipment on a temporary or long-term basis, paying only for the duration they need it for. This flexibility allows them to scale their operations based on patient demand and avoid unnecessary expenses during periods of low utilization.

For instance, the U.S Bureau of Labor Statistics reported that producer price indexes for medical equipment and supplies manufacturing were significantly higher in 2022 than 2021. The average increase in 2021 was approximately 1.2%, while this number was more than doubled to 3.4% in 2022.The rising cost of materials such as metals, plastics and chemicals, is driving production costs. Prices of raw materials for medical devices have skyrocketed in the past two years. Many medical device companies are dealing with shortages of semiconductors and other critical components. Thus, the impact of inflation on medical equipment prices has led to an increasing preference for medical rental equipment among hospitals boosting the growth of the market.

Moreover, medical rental equipment offers flexibility, allowing healthcare providers to quickly adapt to changing patient needs and advancements in medical technology. By renting equipment, healthcare institutions can access state-of-the-art devices without the burden of long-term ownership and maintenance costs. Additionally, the rise of online platforms and digital marketplaces has made it easier for healthcare professionals and patients to browse, compare, and rent medical equipment, further fueling market growth. The availability of a wide range of equipment options ensures that healthcare providers can find the specific tools they require for different medical procedures and treatments.

In the context of patient care, the medical equipment rental market plays a crucial role in enabling home-based care and supporting patients with temporary medical needs. Individuals recovering from surgeries or managing chronic conditions can benefit from renting mobility aids, respiratory devices, and other essential equipment for their rehabilitation and comfort.However, factors such as the stringent regulatory frameworks and maintenance and repair costs might restrain the growth of the medical equipment rental market.

The medical equipment rental market is segmented on the basis of type, end user and region. By type, the market is classified into durable medical equipment, electronic medical equipment, storage and transport equipment, and others. The others include diagnostic medical equipment, surgical medical equipment. By end user, it is fragmented into hospitals, home care, and Others. The others include research institute, and clinics. Region wise, the market is analyzed across North America (the U.S., Canada, and Mexico), Europe (Germany, France, the UK, Italy, Spain, and rest of Europe), Asia-Pacific (Japan, China, Australia, India, South Korea, and rest of Asia-Pacific), and LAMEA (Brazil, South Africa, Saudi Arabia, and rest of LAMEA).

Major key players that operate in the global medical equipment rental market are Med One Group, LLC, Baxter International Inc, Portea Medical Pvt. Ltd, Medirent Services Pvt. Ltd, US Med-Equip, Westside Medical Supply, Avante Health Solutions, ArjoHuntleigh AB, Agiliti Health, Inc, and USA Medical Supply.

Key Benefits For Stakeholders

This report provides a quantitative analysis of the market segments, current trends, estimations, and dynamics of the medical equipment rental market analysis from 2022 to 2032 to identify the prevailing medical equipment rental market opportunities.
The market research is offered along with information related to key drivers, restraints, and opportunities.
Porter's five forces analysis highlights the potency of buyers and suppliers to enable stakeholders make profit-oriented business decisions and strengthen their supplier-buyer network.
In-depth analysis of the medical equipment rental market segmentation assists to determine the prevailing market opportunities.
Major countries in each region are mapped according to their revenue contribution to the global market.
Market player positioning facilitates benchmarking and provides a clear understanding of the present position of the market players.
The report includes the analysis of the regional as well as global medical equipment rental market trends, key players, market segments, application areas, and market growth strategies.

Key Market Segments

By Type

Durable medical equipment
Electronic medical equipment
Storage and transport equipment
Others

By End User

Home care
Hospitals
Others

By Region

North America
- U.S.
- Canada
- Mexico
Europe
- Germany
- France
- UK
- Italy
- Spain
- Rest of Europe
Asia-Pacific
- Japan
- China
- Australia
- India
- South Korea
- Rest of Asia-Pacific
LAMEA
- Brazil
- Saudi Arabia
- South Africa
- Rest of LAMEA

Key Market Players:

Agiliti Health, Inc.
ArjoHuntleigh AB
Avante Health Solutions
Baxter International Inc.
Medirent Services Pvt. Ltd
Med One Group, LLC
Portea Medical Pvt. Ltd.
USA Medical Supply
US Med-Equip
Westside Medical Supply

Product Code: A14382

CHAPTER 1: INTRODUCTION

1.1. Report description
1.2. Key market segments
1.3. Key benefits to the stakeholders
1.4. Research Methodology
- 1.4.1. Primary research
- 1.4.2. Secondary research
- 1.4.3. Analyst tools and models

CHAPTER 2: EXECUTIVE SUMMARY

2.1. CXO Perspective

CHAPTER 3: MARKET OVERVIEW

3.1. Market definition and scope
3.2. Key findings
- 3.2.1. Top impacting factors
- 3.2.2. Top investment pockets
3.3. Porter's five forces analysis
- 3.3.1. Low bargaining power of suppliers
- 3.3.2. Low threat of new entrants
- 3.3.3. Low threat of substitutes
- 3.3.4. Low intensity of rivalry
- 3.3.5. Low bargaining power of buyers
3.4. Market dynamics
- 3.4.1. Drivers
  - 3.4.1.1. Cost efficiency and flexibility of medical rental equipment.
  - 3.4.1.2. Increasing focus on home healthcare.
  - 3.4.1.3. Increase in number of disabled patient population.

3.4.2. Restraints
- 3.4.2.1. Stringent Regulatory Compliance

3.4.3. Opportunities
- 3.4.3.1. Rise in preference for telemedicine and remote healthcare services by patient.

3.5. COVID-19 Impact Analysis on the market

CHAPTER 4: MEDICAL EQUIPMENT RENTAL MARKET, BY TYPE

4.1. Overview
- 4.1.1. Market size and forecast
4.2. Durable medical equipment
- 4.2.1. Key market trends, growth factors and opportunities
- 4.2.2. Market size and forecast, by region
- 4.2.3. Market share analysis by country
4.3. Electronic medical equipment
- 4.3.1. Key market trends, growth factors and opportunities
- 4.3.2. Market size and forecast, by region
- 4.3.3. Market share analysis by country
4.4. Storage and transport equipment
- 4.4.1. Key market trends, growth factors and opportunities
- 4.4.2. Market size and forecast, by region
- 4.4.3. Market share analysis by country
4.5. Others
- 4.5.1. Key market trends, growth factors and opportunities
- 4.5.2. Market size and forecast, by region
- 4.5.3. Market share analysis by country

CHAPTER 5: MEDICAL EQUIPMENT RENTAL MARKET, BY END USER

5.1. Overview
- 5.1.1. Market size and forecast
5.2. Home care
- 5.2.1. Key market trends, growth factors and opportunities
- 5.2.2. Market size and forecast, by region
- 5.2.3. Market share analysis by country
5.3. Hospitals
- 5.3.1. Key market trends, growth factors and opportunities
- 5.3.2. Market size and forecast, by region
- 5.3.3. Market share analysis by country
5.4. Others
- 5.4.1. Key market trends, growth factors and opportunities
- 5.4.2. Market size and forecast, by region
- 5.4.3. Market share analysis by country

CHAPTER 6: MEDICAL EQUIPMENT RENTAL MARKET, BY REGION

6.1. Overview
- 6.1.1. Market size and forecast By Region
6.2. North America
- 6.2.1. Key trends and opportunities
- 6.2.2. Market size and forecast, by Type
- 6.2.3. Market size and forecast, by End User
- 6.2.4. Market size and forecast, by country
  - 6.2.4.1. U.S.
  - 6.2.4.1.1. Key market trends, growth factors and opportunities
  - 6.2.4.1.2. Market size and forecast, by Type
  - 6.2.4.1.3. Market size and forecast, by End User
  - 6.2.4.2. Canada
  - 6.2.4.2.1. Key market trends, growth factors and opportunities
  - 6.2.4.2.2. Market size and forecast, by Type
  - 6.2.4.2.3. Market size and forecast, by End User
  - 6.2.4.3. Mexico
  - 6.2.4.3.1. Key market trends, growth factors and opportunities
  - 6.2.4.3.2. Market size and forecast, by Type
  - 6.2.4.3.3. Market size and forecast, by End User
6.3. Europe
- 6.3.1. Key trends and opportunities
- 6.3.2. Market size and forecast, by Type
- 6.3.3. Market size and forecast, by End User
- 6.3.4. Market size and forecast, by country
  - 6.3.4.1. Germany
  - 6.3.4.1.1. Key market trends, growth factors and opportunities
  - 6.3.4.1.2. Market size and forecast, by Type
  - 6.3.4.1.3. Market size and forecast, by End User
  - 6.3.4.2. France
  - 6.3.4.2.1. Key market trends, growth factors and opportunities
  - 6.3.4.2.2. Market size and forecast, by Type
  - 6.3.4.2.3. Market size and forecast, by End User
  - 6.3.4.3. UK
  - 6.3.4.3.1. Key market trends, growth factors and opportunities
  - 6.3.4.3.2. Market size and forecast, by Type
  - 6.3.4.3.3. Market size and forecast, by End User
  - 6.3.4.4. Italy
  - 6.3.4.4.1. Key market trends, growth factors and opportunities
  - 6.3.4.4.2. Market size and forecast, by Type
  - 6.3.4.4.3. Market size and forecast, by End User
  - 6.3.4.5. Spain
  - 6.3.4.5.1. Key market trends, growth factors and opportunities
  - 6.3.4.5.2. Market size and forecast, by Type
  - 6.3.4.5.3. Market size and forecast, by End User
  - 6.3.4.6. Rest of Europe
  - 6.3.4.6.1. Key market trends, growth factors and opportunities
  - 6.3.4.6.2. Market size and forecast, by Type
  - 6.3.4.6.3. Market size and forecast, by End User
6.4. Asia-Pacific
- 6.4.1. Key trends and opportunities
- 6.4.2. Market size and forecast, by Type
- 6.4.3. Market size and forecast, by End User
- 6.4.4. Market size and forecast, by country
  - 6.4.4.1. Japan
  - 6.4.4.1.1. Key market trends, growth factors and opportunities
  - 6.4.4.1.2. Market size and forecast, by Type
  - 6.4.4.1.3. Market size and forecast, by End User
  - 6.4.4.2. China
  - 6.4.4.2.1. Key market trends, growth factors and opportunities
  - 6.4.4.2.2. Market size and forecast, by Type
  - 6.4.4.2.3. Market size and forecast, by End User
  - 6.4.4.3. Australia
  - 6.4.4.3.1. Key market trends, growth factors and opportunities
  - 6.4.4.3.2. Market size and forecast, by Type
  - 6.4.4.3.3. Market size and forecast, by End User
  - 6.4.4.4. India
  - 6.4.4.4.1. Key market trends, growth factors and opportunities
  - 6.4.4.4.2. Market size and forecast, by Type
  - 6.4.4.4.3. Market size and forecast, by End User
  - 6.4.4.5. South Korea
  - 6.4.4.5.1. Key market trends, growth factors and opportunities
  - 6.4.4.5.2. Market size and forecast, by Type
  - 6.4.4.5.3. Market size and forecast, by End User
  - 6.4.4.6. Rest of Asia-Pacific
  - 6.4.4.6.1. Key market trends, growth factors and opportunities
  - 6.4.4.6.2. Market size and forecast, by Type
  - 6.4.4.6.3. Market size and forecast, by End User
6.5. LAMEA
- 6.5.1. Key trends and opportunities
- 6.5.2. Market size and forecast, by Type
- 6.5.3. Market size and forecast, by End User
- 6.5.4. Market size and forecast, by country
  - 6.5.4.1. Brazil
  - 6.5.4.1.1. Key market trends, growth factors and opportunities
  - 6.5.4.1.2. Market size and forecast, by Type
  - 6.5.4.1.3. Market size and forecast, by End User
  - 6.5.4.2. Saudi Arabia
  - 6.5.4.2.1. Key market trends, growth factors and opportunities
  - 6.5.4.2.2. Market size and forecast, by Type
  - 6.5.4.2.3. Market size and forecast, by End User
  - 6.5.4.3. South Africa
  - 6.5.4.3.1. Key market trends, growth factors and opportunities
  - 6.5.4.3.2. Market size and forecast, by Type
  - 6.5.4.3.3. Market size and forecast, by End User
  - 6.5.4.4. Rest of LAMEA
  - 6.5.4.4.1. Key market trends, growth factors and opportunities
  - 6.5.4.4.2. Market size and forecast, by Type
  - 6.5.4.4.3. Market size and forecast, by End User

CHAPTER 7: COMPETITIVE LANDSCAPE

7.1. Introduction
7.2. Top winning strategies
7.3. Product Mapping of Top 10 Player
7.4. Competitive Dashboard
7.5. Competitive Heatmap
7.6. Top player positioning, 2022

CHAPTER 8: COMPANY PROFILES

8.1. Med One Group, LLC
- 8.1.1. Company overview
- 8.1.2. Key Executives
- 8.1.3. Company snapshot
- 8.1.4. Operating business segments
- 8.1.5. Product portfolio
- 8.1.6. Key strategic moves and developments
8.2. Portea Medical Pvt. Ltd.
- 8.2.1. Company overview
- 8.2.2. Key Executives
- 8.2.3. Company snapshot
- 8.2.4. Operating business segments
- 8.2.5. Product portfolio
8.3. Medirent Services Pvt. Ltd
- 8.3.1. Company overview
- 8.3.2. Key Executives
- 8.3.3. Company snapshot
- 8.3.4. Operating business segments
- 8.3.5. Product portfolio
8.4. US Med-Equip
- 8.4.1. Company overview
- 8.4.2. Key Executives
- 8.4.3. Company snapshot
- 8.4.4. Operating business segments
- 8.4.5. Product portfolio
- 8.4.6. Key strategic moves and developments
8.5. Westside Medical Supply
- 8.5.1. Company overview
- 8.5.2. Key Executives
- 8.5.3. Company snapshot
- 8.5.4. Operating business segments
- 8.5.5. Product portfolio
8.6. Agiliti Health, Inc.
- 8.6.1. Company overview
- 8.6.2. Key Executives
- 8.6.3. Company snapshot
- 8.6.4. Operating business segments
- 8.6.5. Product portfolio
- 8.6.6. Business performance
- 8.6.7. Key strategic moves and developments
8.7. ArjoHuntleigh AB
- 8.7.1. Company overview
- 8.7.2. Key Executives
- 8.7.3. Company snapshot
- 8.7.4. Operating business segments
- 8.7.5. Product portfolio
- 8.7.6. Business performance
8.8. USA Medical Supply
- 8.8.1. Company overview
- 8.8.2. Key Executives
- 8.8.3. Company snapshot
- 8.8.4. Operating business segments
- 8.8.5. Product portfolio
8.9. Baxter International Inc.
- 8.9.1. Company overview
- 8.9.2. Key Executives
- 8.9.3. Company snapshot
- 8.9.4. Operating business segments
- 8.9.5. Product portfolio
- 8.9.6. Business performance
- 8.9.7. Key strategic moves and developments
8.10. Avante Health Solutions
- 8.10.1. Company overview
- 8.10.2. Key Executives
- 8.10.3. Company snapshot
- 8.10.4. Operating business segments
- 8.10.5. Product portfolio