A newly released Durable Medical Equipment Rental Market analysis report by Future Market Insights reveals that revenue through the Durable Medical Equipment Rental Market in 2022 was held at US$ 25.7 billion. With a CAGR of 5.7% from 2023 to 2033, the market is projected to reach a valuation of US$ 47 billion by 2033. Hospitals are expected to be the highest revenue-generating segment, projected to grow at a CAGR of over 5.7% from 2023 to 2033.
| Attribute | Details |
|---|---|
| Global Durable Medical Equipment Rental Market (2023) | US$ 27 billion |
| Global Durable Medical Equipment Rental Market (2033) | US$ 47 billion |
| Global Durable Medical Equipment Rental Market CAGR (2023 to 2033) | 5.7% |
| The USA Durable Medical Equipment Rental Market CAGR (2023 to 2033) | 6.1% |
| Key Companies Profiled |
|
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As per the Durable Medical Equipment Rental Market research by Future Market Insights - a market research and competitive intelligence provider, historically, from 2018 to 2022, the value of the Durable Medical Equipment Rental Market increased at around 5.1% CAGR.
Despite projected and exponential expansion, operators in the healthcare industry continue to struggle to find a sustainable financing alternative to invest in cutting-edge technology and equipment to keep up with an increasingly demanding client base. Rental medical equipment might be the next big thing in the global healthcare market, giving economical and cost-effective choices during difficult economic times.
As technology improves and the need for capital advances, providers struggle with finances. It becomes difficult to handle the equipment and finance them. Hospitals use rental equipment to deal with the capital crunch. Equipment integration, recalls, and reductions in reimbursement, are other factors that shift the focus from acquiring medical devices to renting them for use.
The geriatric population across the globe is growing at an unprecedented rate, which creates a significant demand for medical facilities, and hence renting medical equipment becomes feasible to cater to the growing demand.
Lately, it has been observed that handicapped persons have started accepting personal mobility and assistance, which can be ascribed to the dominance of durable medical equipment. Furthermore, with a huge customer base and continuous technological improvements, there has been a rising demand for monitoring and therapeutic instruments, which would help in driving the expansion of the medical equipment rental market.
Rising palliative care concerns, as well as legislative changes, are anticipated to boost the industry. Increased demand for rental equipment is being driven by regulatory changes or palliative care initiatives implemented by hospitals.
The necessity for personal mobility devices is rising throughout the world. With the increase in the number of people with impairment, the need for walkers and wheelchairs rises. Along with this, the demand for monitoring and therapeutic devices is also increasing because of better healthcare development globally. Moreover, renting medical equipment provides an advantage where patients can select their medical settings according to their requirements from a wide variety of products.
Healthcare companies are currently operating in a dynamic environment, facing seismic shifts as a result of the advent of novel medical treatments and rising internet usage. Astute patients have become more cautious as a result of this, as well as unequaled online access to incredible volumes of information. As a result, there is an increased need for smart, economical, and personalized healthcare services. COVID-19 has also resulted in increased demand for healthcare and related products and services, which has boosted the overall performance of the healthcare business. This has created favorable conditions for the rental market of durable medical equipment.
However, the lack of consistent regulatory standards for medical equipment rental services and high costs is expected to stymie industry expansion. Simultaneously, it has been discovered that few medical gadgets come with insurance coverage, which will somehow hinder the growth of the global medical equipment rental industry.
Principal Consultant
In 2022, the market was dominated by North America. The reasons for this are its strong healthcare infrastructure and government backing of privately held hospitals, clinics, and diagnostic centers.
Asia Pacific constitutes a large population and widespread incidences of infectious and chronic diseases. With the growing healthcare sector in the region and investments made by private healthcare institutions, there exists a significant opportunity for the market.
The United States is expected to have the highest market of US$ 13.7 billion by 2033, growing at a CAGR of 6.1%, with an absolute growth opportunity of US$ 6.1 billion. The market in the country is expected to develop because of the rising elderly population, and high prevalence of lifestyle-related disorders. Other factors increasing demand for durable medical equipment include increased penetration of home nursing services and employees.
The market in the United Kingdom is expected to reach a valuation of US$ 2.1 billion by 2033, growing at a CAGR of 5% from 2023 to 2033. The market is projected to gross an absolute dollar opportunity of US$ 840 million during the forecast period.
In Japan, the market is expected to reach a valuation of US$ 2.2 billion by 2033. During the forecast period, the market in the country is expected to garner an absolute dollar opportunity of US$ 1.1 billion, growing at a CAGR of 7.4%.
The market in South Korea is projected to grow at a CAGR of 6.7% from 2023 to 2033. During this period, the market is projected to witness an absolute dollar opportunity of US$ 609 million and reach US$ 1.3 billion by 2033.
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From 2018 to 22 the largest share of revenue as well as a CAGR of approximately 5.1% was acquired by Bathroom Safety and Medical Furniture. The market through this application is projected to grow at a CAGR of 4.9% throughout the forecast period owing to the rising incidences of chronic conditions that require long-term care due to which rental services demand is upsurging. The demand for mattresses, bedding, and toilet safety rails is further driving the market.
Durable medical equipment rental commanded the largest revenue from Hospitals and grew at a CAGR of 4.6% during 2018-22. The market is forecasted to grow at a CAGR of 5.4% throughout the forecasted period. This can be ascribed to bulk leasing, a relatively large patient intake, increased pressure to cut costs, and a strong demand for technologically sophisticated items in these healthcare settings.
Also, due to an increase in the rental of medical equipment, particularly therapeutic devices, during Covid-19, when equipment acquisition was substituted by renting, provided a boost to this segment. The massive patient pool, as well as the escalating government changes supporting the use of progressive healthcare infrastructure, are propelling the expansion of this market.
Some of the key players operating in the medical equipment rental market include Hill-Rom Holdings Inc., Stryker Corporation, Getinge AB, Siemens Financial Services Inc, Nunn’s Home Medical Equipment, Westside Medical Supply, Universal Hospital Services, Inc., Woodley Equipment Company Ltd., GE Healthcare, C.N.Y. Medical Products Inc., All American Medical Supply Corp., and Homepro Medical Supplies, LLC.
Some of the recent developments of key Durable Medical Equipment Rental providers are as follows:
Similarly, recent developments related to companies in the Durable Medical Equipment Rental Market have been tracked by the team at Future Market Insights, which are available in the full report.
The market is valued at US$ 27 million in 2023.
The market’s CAGR from 2023 to 2033 will be 5.7%.
Japan is projected to reach US$ 2.1 billion by 2033.
By 2033, the segment growth rate is expected to reach 4.9%.
Hospital segment to account for 5.4% CAGR through 2033.
1. Executive Summary | Durable Medical Equipment Rental Market
1.1. Global Market Outlook
1.2. Demand-side Trends
1.3. Supply-side Trends
1.4. Technology Roadmap Analysis
1.5. Analysis and Recommendations
2. Market Overview
2.1. Market Coverage / Taxonomy
2.2. Market Definition / Scope / Limitations
3. Market Background
3.1. Market Dynamics
3.1.1. Drivers
3.1.2. Restraints
3.1.3. Opportunity
3.1.4. Trends
3.2. Scenario Forecast
3.2.1. Demand in Optimistic Scenario
3.2.2. Demand in Likely Scenario
3.2.3. Demand in Conservative Scenario
4. Global Market Analysis 2018 to 2022 and Forecast, 2023 to 2033
4.1. Historical Market Size Value (US$ million) Analysis, 2018 to 2022
4.2. Current and Future Market Size Value (US$ million) Projections, 2023 to 2033
4.2.1. Y-o-Y Growth Trend Analysis
4.2.2. Absolute $ Opportunity Analysis
5. Global Market Analysis 2018 to 2022 and Forecast 2023 to 2033, By Application
5.1. Introduction / Key Findings
5.2. Historical Market Size Value (US$ million) Analysis By Application, 2018 to 2022
5.3. Current and Future Market Size Value (US$ million) Analysis and Forecast By Application, 2023 to 2033
5.3.1. Personal Mobility Devices
5.3.2. Bathroom Safety and Medical Furniture
5.3.3. Monitoring and Therapeutic Devices
5.4. Y-o-Y Growth Trend Analysis By Application, 2018 to 2022
5.5. Absolute $ Opportunity Analysis By Application, 2023 to 2033
6. Global Market Analysis 2018 to 2022 and Forecast 2023 to 2033, By End User
6.1. Introduction / Key Findings
6.2. Historical Market Size Value (US$ million) Analysis By End User, 2018 to 2022
6.3. Current and Future Market Size Value (US$ million) Analysis and Forecast By End User, 2023 to 2033
6.3.1. Personal/Homecare
6.3.2. Institutes and laboratories
6.3.3. Hospitals
6.4. Y-o-Y Growth Trend Analysis By End User, 2018 to 2022
6.5. Absolute $ Opportunity Analysis By End User, 2023 to 2033
7. Global Market Analysis 2018 to 2022 and Forecast 2023 to 2033, By Region
7.1. Introduction
7.2. Historical Market Size Value (US$ million) Analysis By Region, 2018 to 2022
7.3. Current Market Size Value (US$ million) Analysis and Forecast By Region, 2023 to 2033
7.3.1. North America
7.3.2. Latin America
7.3.3. Europe
7.3.4. East Asia
7.3.5. South Asia
7.3.6. Oceania
7.3.7. Middle East and Africa (MEA)
7.4. Market Attractiveness Analysis By Region
8. North America Market Analysis 2018 to 2022 and Forecast 2023 to 2033, By Country
8.1. Historical Market Size Value (US$ million) Trend Analysis By Market Taxonomy, 2018 to 2022
8.2. Market Size Value (US$ million) Forecast By Market Taxonomy, 2023 to 2033
8.2.1. By Country
8.2.1.1. The USA
8.2.1.2. Canada
8.2.2. By Application
8.2.3. By End User
8.3. Market Attractiveness Analysis
8.3.1. By Country
8.3.2. By Application
8.3.3. By End User
8.4. Key Takeaways
9. Latin America Market Analysis 2018 to 2022 and Forecast 2023 to 2033, By Country
9.1. Historical Market Size Value (US$ million) Trend Analysis By Market Taxonomy, 2018 to 2022
9.2. Market Size Value (US$ million) Forecast By Market Taxonomy, 2023 to 2033
9.2.1. By Country
9.2.1.1. Brazil
9.2.1.2. Mexico
9.2.1.3. Argentina
9.2.1.4. Rest of Latin America
9.2.2. By Application
9.2.3. By End User
9.3. Market Attractiveness Analysis
9.3.1. By Country
9.3.2. By Application
9.3.3. By End User
9.4. Key Takeaways
10. Europe Market Analysis 2018 to 2022 and Forecast 2023 to 2033, By Country
10.1. Historical Market Size Value (US$ million) Trend Analysis By Market Taxonomy, 2018 to 2022
10.2. Market Size Value (US$ million) Forecast By Market Taxonomy, 2023 to 2033
10.2.1. By Country
10.2.1.1. Germany
10.2.1.2. Italy
10.2.1.3. France
10.2.1.4. The United Kingdom.
10.2.1.5. Spain
10.2.1.6. Russia
10.2.1.7. BENELUX
10.2.1.8. Rest of Europe
10.2.2. By Application
10.2.3. By End User
10.3. Market Attractiveness Analysis
10.3.1. By Country
10.3.2. By Application
10.3.3. By End User
10.4. Key Takeaways
11. East Asia Market Analysis 2018 to 2022 and Forecast 2023 to 2033, By Country
11.1. Historical Market Size Value (US$ million) Trend Analysis By Market Taxonomy, 2018 to 2022
11.2. Market Size Value (US$ million) Forecast By Market Taxonomy, 2023 to 2033
11.2.1. By Country
11.2.1.1. China
11.2.1.2. Japan
11.2.1.3. South Korea
11.2.2. By Application
11.2.3. By End User
11.3. Market Attractiveness Analysis
11.3.1. By Country
11.3.2. By Application
11.3.3. By End User
11.4. Key Takeaways
12. South Asia Market Analysis 2018 to 2022 and Forecast 2023 to 2033, By Country
12.1. Historical Market Size Value (US$ million) Trend Analysis By Market Taxonomy, 2018 to 2022
12.2. Market Size Value (US$ million) Forecast By Market Taxonomy, 2023 to 2033
12.2.1. By Country
12.2.1.1. India
12.2.1.2. Thailand
12.2.1.3. Malaysia
12.2.1.4. Indonesia
12.2.1.5. Rest of South Asia
12.2.2. By Application
12.2.3. By End User
12.3. Market Attractiveness Analysis
12.3.1. By Country
12.3.2. By Application
12.3.3. By End User
12.4. Key Takeaways
13. Oceania Market Analysis 2018 to 2022 and Forecast 2023 to 2033, By Country
13.1. Historical Market Size Value (US$ million) Trend Analysis By Market Taxonomy, 2018 to 2022
13.2. Market Size Value (US$ million) Forecast By Market Taxonomy, 2023 to 2033
13.2.1. By Country
13.2.1.1. Australia
13.2.1.2. New Zealand
13.2.2. By Application
13.2.3. By End User
13.3. Market Attractiveness Analysis
13.3.1. By Country
13.3.2. By Application
13.3.3. By End User
13.4. Key Takeaways
14. MEA Market Analysis 2018 to 2022 and Forecast 2023 to 2033, By Country
14.1. Historical Market Size Value (US$ million) Trend Analysis By Market Taxonomy, 2018 to 2022
14.2. Market Size Value (US$ million) Forecast By Market Taxonomy, 2023 to 2033
14.2.1. By Country
14.2.1.1. GCC
14.2.1.2. Rest of MEA
14.2.2. By Application
14.2.3. By End User
14.3. Market Attractiveness Analysis
14.3.1. By Country
14.3.2. By Application
14.3.3. By End User
14.4. Key Takeaways
15. Key Countries Market Analysis
15.1. The USA
15.1.1. Pricing Analysis
15.1.2. Market Share Analysis, 2022
15.1.2.1. By Application
15.1.2.2. By End User
15.2. Canada
15.2.1. Pricing Analysis
15.2.2. Market Share Analysis, 2022
15.2.2.1. By Application
15.2.2.2. By End User
15.3. Brazil
15.3.1. Pricing Analysis
15.3.2. Market Share Analysis, 2022
15.3.2.1. By Application
15.3.2.2. By End User
15.4. Mexico
15.4.1. Pricing Analysis
15.4.2. Market Share Analysis, 2022
15.4.2.1. By Application
15.4.2.2. By End User
15.5. Argentina
15.5.1. Pricing Analysis
15.5.2. Market Share Analysis, 2022
15.5.2.1. By Application
15.5.2.2. By End User
15.6. Germany
15.6.1. Pricing Analysis
15.6.2. Market Share Analysis, 2022
15.6.2.1. By Application
15.6.2.2. By End User
15.7. Italy
15.7.1. Pricing Analysis
15.7.2. Market Share Analysis, 2022
15.7.2.1. By Application
15.7.2.2. By End User
15.8. France
15.8.1. Pricing Analysis
15.8.2. Market Share Analysis, 2022
15.8.2.1. By Application
15.8.2.2. By End User
15.9. The United Kingdom
15.9.1. Pricing Analysis
15.9.2. Market Share Analysis, 2022
15.9.2.1. By Application
15.9.2.2. By End User
15.10. Spain
15.10.1. Pricing Analysis
15.10.2. Market Share Analysis, 2022
15.10.2.1. By Application
15.10.2.2. By End User
15.11. Russia
15.11.1. Pricing Analysis
15.11.2. Market Share Analysis, 2022
15.11.2.1. By Application
15.11.2.2. By End User
15.12. BENELUX
15.12.1. Pricing Analysis
15.12.2. Market Share Analysis, 2022
15.12.2.1. By Application
15.12.2.2. By End User
15.13. China
15.13.1. Pricing Analysis
15.13.2. Market Share Analysis, 2022
15.13.2.1. By Application
15.13.2.2. By End User
15.14. Japan
15.14.1. Pricing Analysis
15.14.2. Market Share Analysis, 2022
15.14.2.1. By Application
15.14.2.2. By End User
15.15. South Korea
15.15.1. Pricing Analysis
15.15.2. Market Share Analysis, 2022
15.15.2.1. By Application
15.15.2.2. By End User
15.16. India
15.16.1. Pricing Analysis
15.16.2. Market Share Analysis, 2022
15.16.2.1. By Application
15.16.2.2. By End User
15.17. Thailand
15.17.1. Pricing Analysis
15.17.2. Market Share Analysis, 2022
15.17.2.1. By Application
15.17.2.2. By End User
15.18. Malaysia
15.18.1. Pricing Analysis
15.18.2. Market Share Analysis, 2022
15.18.2.1. By Application
15.18.2.2. By End User
15.19. Indonesia
15.19.1. Pricing Analysis
15.19.2. Market Share Analysis, 2022
15.19.2.1. By Application
15.19.2.2. By End User
15.20. Australia
15.20.1. Pricing Analysis
15.20.2. Market Share Analysis, 2022
15.20.2.1. By Application
15.20.2.2. By End User
15.21. New Zealand
15.21.1. Pricing Analysis
15.21.2. Market Share Analysis, 2022
15.21.2.1. By Application
15.21.2.2. By End User
15.22. GCC Countries
15.22.1. Pricing Analysis
15.22.2. Market Share Analysis, 2022
15.22.2.1. By Application
15.22.2.2. By End User
16. Market Structure Analysis
16.1. Competition Dashboard
16.2. Competition Benchmarking
16.3. Market Share Analysis of Top Players
16.3.1. By Regional
16.3.2. By Application
16.3.3. By End User
17. Competition Analysis
17.1. Competition Deep Dive
17.1.1. Hill-Rom Holdings, Inc.
17.1.1.1. Overview
17.1.1.2. Product Portfolio
17.1.1.3. Profitability by Market Segments+
17.1.1.4. Sales Footprint
17.1.1.5. Strategy Overview
17.1.1.5.1. Marketing Strategy
17.1.1.5.2. Product Strategy
17.1.1.5.3. Channel Strategy
17.1.2. Stryker Corporation
17.1.2.1. Overview
17.1.2.2. Product Portfolio
17.1.2.3. Profitability by Market Segments+
17.1.2.4. Sales Footprint
17.1.2.5. Strategy Overview
17.1.2.5.1. Marketing Strategy
17.1.2.5.2. Product Strategy
17.1.2.5.3. Channel Strategy
17.1.3. Getinge Ab
17.1.3.1. Overview
17.1.3.2. Product Portfolio
17.1.3.3. Profitability by Market Segments+
17.1.3.4. Sales Footprint
17.1.3.5. Strategy Overview
17.1.3.5.1. Marketing Strategy
17.1.3.5.2. Product Strategy
17.1.3.5.3. Channel Strategy
17.1.4. Siemens Financial Services, Inc
17.1.4.1. Overview
17.1.4.2. Product Portfolio
17.1.4.3. Profitability by Market Segments+
17.1.4.4. Sales Footprint
17.1.4.5. Strategy Overview
17.1.4.5.1. Marketing Strategy
17.1.4.5.2. Product Strategy
17.1.4.5.3. Channel Strategy
17.1.5. Nunn’s Home Medical Equipment
17.1.5.1. Overview
17.1.5.2. Product Portfolio
17.1.5.3. Profitability by Market Segments+
17.1.5.4. Sales Footprint
17.1.5.5. Strategy Overview
17.1.5.5.1. Marketing Strategy
17.1.5.5.2. Product Strategy
17.1.5.5.3. Channel Strategy
17.1.6. Westside Medical Supply
17.1.6.1. Overview
17.1.6.2. Product Portfolio
17.1.6.3. Profitability by Market Segments+
17.1.6.4. Sales Footprint
17.1.6.5. Strategy Overview
17.1.6.5.1. Marketing Strategy
17.1.6.5.2. Product Strategy
17.1.6.5.3. Channel Strategy
17.1.7. Universal Hospital Services, Inc
17.1.7.1. Overview
17.1.7.2. Product Portfolio
17.1.7.3. Profitability by Market Segments+
17.1.7.4. Sales Footprint
17.1.7.5. Strategy Overview
17.1.7.5.1. Marketing Strategy
17.1.7.5.2. Product Strategy
17.1.7.5.3. Channel Strategy
17.1.8. Woodley Equipment Company Ltd
17.1.8.1. Overview
17.1.8.2. Product Portfolio
17.1.8.3. Profitability by Market Segments+
17.1.8.4. Sales Footprint
17.1.8.5. Strategy Overview
17.1.8.5.1. Marketing Strategy
17.1.8.5.2. Product Strategy
17.1.8.5.3. Channel Strategy
17.1.9. GE Healthcare
17.1.9.1. Overview
17.1.9.2. Product Portfolio
17.1.9.3. Profitability by Market Segments+
17.1.9.4. Sales Footprint
17.1.9.5. Strategy Overview
17.1.9.5.1. Marketing Strategy
17.1.9.5.2. Product Strategy
17.1.9.5.3. Channel Strategy
17.1.10. C.N.Y Medical Products Inc.
17.1.10.1. Overview
17.1.10.2. Product Portfolio
17.1.10.3. Profitability by Market Segments+
17.1.10.4. Sales Footprint
17.1.10.5. Strategy Overview
17.1.10.5.1. Marketing Strategy
17.1.10.5.2. Product Strategy
17.1.10.5.3. Channel Strategy
17.1.11. All American Medical Supply Corp.
17.1.11.1. Overview
17.1.11.2. Product Portfolio
17.1.11.3. Profitability by Market Segments+
17.1.11.4. Sales Footprint
17.1.11.5. Strategy Overview
17.1.11.5.1. Marketing Strategy
17.1.11.5.2. Product Strategy
17.1.11.5.3. Channel Strategy
17.1.12. Homepro Medical Supplies, LLC
17.1.12.1. Overview
17.1.12.2. Product Portfolio
17.1.12.3. Profitability by Market Segments+
17.1.12.4. Sales Footprint
17.1.12.5. Strategy Overview
17.1.12.5.1. Marketing Strategy
17.1.12.5.2. Product Strategy
17.1.12.5.3. Channel Strategy
18. Assumptions & Acronyms Used
19. Research Methodology
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Durable Medical Equipment Rental Market
