Medical Equipment Rental Market Projected to Reach USD

Pune, March 27, 2025 (GLOBE NEWSWIRE) — Medical Equipment Rental Market Size & Growth Analysis:

According to SNS Insider, The global Medical Equipment Rental Market was valued at USD 58.57 billion in 2023, is projected to grow at a CAGR of 5.85%, reaching USD 97.69 billion by 2032, according to a report by SNS Insider. This growth is driven by rising healthcare costs, increasing demand for cost-effective medical solutions, and the expanding adoption of rental models by healthcare providers.

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Market Overview

In the United States, the medical equipment rental industry has experienced tremendous growth as a result of the increasing incidence of chronic diseases and an aging population. Healthcare facilities are increasingly opting for rental options to obtain sophisticated medical technologies without having to make huge capital investments. This strategy improves financial flexibility and provides current patient care.

The market is growing as clinics, hospitals, and home care facilities look for cost-saving means of using high-tech medical equipment without the expense of ownership. Equipment leasing allows for the ability to use equipment with flexibility, especially for short-term requirements and technological upgrades. The increasing trend towards home healthcare, fueled by an aging population and chronic disease rates, has further contributed to the demand for rental solutions.

The growing demand for durable medical equipment (DME) and digital healthcare devices is driving market growth. With the emphasis on operational efficiency among more healthcare providers, renting medical equipment continues to be an attractive option. With the incorporation of smart technologies and remote monitoring, the rental market is set to grow substantially in the forecast period.

Key Medical Equipment Rental Companies Profiled in the Report

• Hill-ROM Services, Inc.
• Nunn’s Home Medical Equipment
• US Med-Equip, Inc.
• Woodley Equipment Company Ltd.
• Walgreen Co.
• Westside Medical Supply, Inc.
• Meridian Group International
• Mizuho Leasing Company, Limited
• Med One Group
• GE HealthCare and others

Medical Equipment Rental Market Report Scope

Segment Insights

By Type

The Durable Medical Equipment (DME) segment led the market in 2023, with a 42.8% share. The increasing demand for wheelchairs, hospital beds, mobility aids, and monitoring devices has driven demand. The rental option offers affordability and accessibility, especially for patients requiring short-term or long-term care.

The Electronic/Digital Equipment segment is the fastest-growing due to the increasing adoption of digital healthcare solutions. Technological advances in remote patient monitoring, wearable health devices, and smart diagnostic devices are improving patient care, and thus, digital medical equipment is the go-to option for healthcare providers.

By Digital Equipment

The Others segment, which comprises infusion pumps and imaging equipment, commanded the largest share of 62.7% in 2023. The extensive use of these devices in hospitals and outpatient facilities has driven rental demand.

The ventilator sub-segment is the most rapidly expanding, driven by greater adoption in ICUs, emergency care, and home care. Greater incidence of respiratory diseases and increasing demand for portable ventilators drove accelerated adoption of rentals.

By Application

Hospitals dominated the market with a 52.7% share in 2023, utilizing rentals to regulate demand for patient care while ensuring flexibility in budgeting. The rise in the patient load and the requirement of sophisticated medical equipment make leasing equipment an affordable option for hospitals.

The Personal/Home Care segment is the most rapidly growing, led by the increasing preference for home medical care. As the population ages and the focus moves toward patient-centric healthcare, homecare agencies are increasingly using rental equipment to enhance accessibility and affordability.

By Homecare

Chronic and Geriatric Patients led this segment with a 44.3% market share in 2023. The aging population and the number of chronic conditions like diabetes, hypertension, and respiratory diseases have driven the demand for rental equipment in homecare environments.

The Preventive Care/Monitoring sub-segment is expanding at the fastest rate. The rising priority on early disease detection, customized care, and telehealth services has increased demand for monitoring devices, especially in patients dealing with long-term conditions.

By Hospitals

The Others segment dominated with a share of 64.4% in 2023 and encompasses a wide variety of hospital-based rental equipment including imaging equipment, infusion pumps, and dialysis machines. Increased demand for short-term access to specialty medical devices has fueled this trend.

Medical Nursing Homes were the fastest-growing category because of the growing population of elderly people who need long-term care. The demand for rental beds, mobility aids, and respiratory support devices in nursing homes is likely to grow even faster.

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Medical Equipment Rental Market Segmentation

By type

• Durable Medical Equipment
• Electronic/Digital Equipment
• Storage and Transport
• Personality Mobility Device

By Digital Equipment

• Ventilators
• Insulin Pump
• Others

By Application

• Personal/Homecare
• Institutional
• Hospitals

By Homecare

• Chronic and Geriatric Patients
• Preventive Care/Monitoring
• Short Term and Outpatient Care

By Hospitals

• Negative Wound Pressure
• Medical Nursing Homes
• Others

Regional Analysis

North America dominated the medical equipment rental market in 2023, with a 37.8% share. The region’s high-standard healthcare facilities, growing geriatric population, and demand for affordable healthcare solutions are major drivers of the market. Favorable reimbursement policies and the presence of prominent rental service providers have also contributed to market growth.

Asia-Pacific is expected to grow at the fastest rate in the forecast period. The growth of chronic disease burden, expanding healthcare infrastructure, and government policy favoring home healthcare solutions have boosted market development. India and China are leading the way, with increasing demand for rental medical equipment due to improved healthcare awareness and affordability.

Recent Developments

• Hill-Rom Holdings, Inc. (July 2024): Expanded its rental services in North America, focusing on durable medical equipment to meet the rising demand for advanced mobility solutions and patient care devices in homecare settings.
• US Med-Equip, Inc. (June 2024): Strengthened its market position by acquiring additional warehouse spaces in key U.S. locations, facilitating faster delivery of critical care equipment to hospitals and healthcare providers, and addressing the growing need for timely access to medical devices.

Statistical Insights and Trends Reporting

• The demand for rental medical equipment surged due to the rising number of chronic disease cases and increased homecare adoption.
• The number of rented medical devices is expected to grow significantly in Asia-Pacific, driven by increased healthcare spending and infrastructure development.
• Government and private investments in rental medical devices have increased, particularly in North America and Europe, as cost-cutting strategies become a priority for healthcare facilities.
• The adoption of AI-driven monitoring devices and IoT-enabled medical equipment rentals has risen, providing real-time patient data and enhancing healthcare efficiency.

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Table of Contents – Major Key Points

1. Introduction

2. Executive Summary

3. Research Methodology

4. Market Dynamics Impact Analysis

5. Statistical Insights and Trends Reporting

5.1 Incidence and Prevalence (2023)

5.2 Prescription Trends, (2023), by Region

5.3 Device Volume, by Region (2020-2032)

5.4 Healthcare Spending, by Region, (Government, Commercial, Private, Out-of-Pocket), 2023

6. Competitive Landscape

7. Medical Equipment Rental Market by type

8. Medical Equipment Rental Market by Digital Equipment

9. Medical Equipment Rental Market by Application

10. Medical Equipment Rental Market by Homecare

11. Medical Equipment Rental Market by Hospitals

12. Regional Analysis

13. Company Profiles

14. Use Cases and Best Practices

15. Conclusion

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