Published February 15, 2023
Medical Equipment Rental Market Growth:
Washington, D.C., United States: Medical equipment rental is a growing industry that provides healthcare providers and patients with access to a wide range of medical equipment on a temporary or long-term basis. Medical equipment rental companies offer a range of equipment including mobility aids, hospital beds, oxygen equipment, and other types of medical devices. This service provides an affordable alternative for patients who need medical equipment for a short period of time or cannot afford to purchase expensive equipment. Additionally, renting equipment can help reduce the maintenance and repair costs associated with owning medical equipment. The increasing demand for medical equipment rental is driven by factors such as rising healthcare costs, increasing geriatric population, and the growing prevalence of chronic diseases.
According to Straits Research, the Medical Equipment Rental market will grow at a CAGR of 5.32% during the forecast period.
Some of the prominent players operating in the Medical Equipment Rental market are
- 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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- Growing geriatric population: The aging population is a major driver of demand for medical equipment rental, as seniors often require medical equipment to manage their healthcare needs.
- Rising healthcare costs: The high cost of medical equipment and healthcare services is driving demand for affordable alternatives, such as medical equipment rental.
- Increasing prevalence of chronic diseases: The growing prevalence of chronic diseases, such as diabetes and heart disease, is driving demand for medical equipment rental to help manage and treat these conditions.
- Technological advancements: Advances in medical technology are creating new opportunities for medical equipment rental companies to offer innovative products and services, such as remote monitoring and telemedicine.
- Emerging markets: The growth of emerging markets presents new opportunities for medical equipment rental companies to expand their customer base and meet the needs of underserved populations.
- Home healthcare: The trend towards home healthcare is creating new opportunities for medical equipment rental companies to provide equipment and services to patients in their own homes.
- Regulatory challenges: Medical equipment rental companies are subject to strict regulatory requirements, which can be a barrier to entry and limit market growth.
- Competition: The medical equipment rental market is highly competitive, with a large number of established players and new entrants vying for market share.
- Safety concerns: Safety concerns are a major restraint on the medical equipment rental market, as medical equipment must be maintained and serviced properly to ensure the safety of patients.
Global Medical Equipment Rental Market: Segmentation
As a result of the Medical Equipment Rental market segmentation, the market is divided into sub-segments based on product type, application, as well as regional and country-level forecasts.
- Durable Medical Equipment
*Emergency & Trauma Care
- Electronic/Digital Equipment
- Storage and Transport
- Personality Mobility Device
- North America
The report forecasts revenue growth at all the geographic levels and provides an in-depth analysis of the latest industry trends and development patterns from 2022 to 2030 in each of the segments and sub-segments.
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The following are the report’s key features:
- It gives useful information on the Global Medical Equipment Rental Market.
- Information for the years 2022-2030 is provided.
- Market-related important factors are highlighted.
- The latest technological innovations, government restrictions, and developments are presented.
- This paper investigates advertising and marketing techniques, market trends, and analysis.
- Growth projections and analyses by forecast 2030.
- The statistical analysis of the market’s leading competitors is emphasised.
- Medical Equipment Rental Market summary based on extensive study.
Other aspects of the report include:
- Provides a complete review of important tactics in numerous firms, with an emphasis on corporate structure, R&D processes, localization strategies, manufacturing capabilities, sales, and performance.
- Provides essential product portfolio information, including product planning, development, and positioning.
- Analyzes the role of significant market participants, as well as their collaborations, mergers, and acquisitions.
Table of Content
- Market Definition
- Market Scope
- Research Methodology
- Primary Research
- Research Methodology
- Assumptions & Exclusions
- Secondary Data Sources
- Market Overview
- Report Segmentation & Scope
- Value Chain Analysis: Medical Equipment Rental Market
- Key Market Trends
- Porter’s Five Forces Analysis
- Bargaining Power of Suppliers
- Bargaining Power of Buyers
- Threat of Substitution
- The threat of New Entrants
- Competitive Rivalry
- Market Share Analysis
- Component Overview
- Deployment Model Overview
- Regional Overview
- Market Size & Forecast
- North America
- Asia Pacific
- Company Profile
- Conclusion & Recommendation
- Acronyms & Abbreviations
The Table of Contents and Figures of the Full Report are available for your perusal Medical Equipment Rental Market Report with TOC
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