Durable Medical Equipment Innovations On Rent Are Projected To Drive The Growth Of Medical Equipment Rental Market.
HYDERABAD, TELANGANA, INDIA, November 7, 2022 /EINPresswire.com/ — IndustryARC, in its latest report, predicts that the Medical Equipment Rental Market size is estimated to reach $5.1 billion by 2027, growing at a CAGR of 4.17% during the forecast period 2022-2027. Medical Equipment Rental is one of the rapidly developing rental industries and one of the excellent methods to acquire modern and up-to-date Healthcare Equipment without expending much money to keep up good health. The proliferating technological progress in armamentarium and therapeutic devices is set to drive the Medical Equipment Rental Market owing to the surging preference of hospitals and medical professionals for medical equipment renting rather than purchasing emerging instruments. The report offers a complete analysis of the market, its major segments, growth factors, trends, drivers and challengers, key players and more.
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This IndustryARC report on the Medical Equipment Rental Market highlights the following areas –
1. Geographically, North America Medical Equipment Rental Market accounted for the highest revenue share in 2021 and it is poised to dominate the market over the period 2022-2027 owing to the soaring inclination for rental medical equipment and therapeutic devices in the North American region.
2. Medical Equipment Rental Market growth is being driven by the increasing demand for refurbished instruments and therapeutic devices by customers requiring novel versions of existing equipment at economical cost. However, certain hospitals and health care centers may not rent sufficient equipment to minimize overspending on rentals and instead determine to opt for capital buys which is one of the major factors hampering the growth of the Medical Equipment Rental Market.
3. Medical Equipment Rental Market Detailed Analysis on the Strength, Weakness, and Opportunities of the prominent players operating in the market will be provided in the Medical Equipment Rental Market report.
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Medical Equipment Rental Market Segment Analysis – By Product Type: The Durable Medical Equipment Segment held the largest market share in 2021. This growth is owing to the extensive utilization of rented manual wheelchairs, hospital beds, traction equipment, pressure mattresses, and patient lifts.
Medical Equipment Rental Market Segment Analysis – By End-User: The Hospitals segment held the largest market share in 2021. This growth is owing to the increased renting of medical equipment including therapeutic devices during these troubled times of economic downturn in the wake of the COVID-19 pandemic wherein equipment procurement has been replaced with renting.
Medical Equipment Rental Market Segment Analysis – By Geography: North America, Europe, Asia-Pacific, South America, and the Rest of the World. North America (Medical Equipment Rental Market) held the largest share with 39.2% of the overall market in 2021. The growth of this region is owing to the soaring concentration of key players like US Med-Equip, Inc.
The top 5 players in the Medical Equipment Rental industry are –
1. Med One Group
2. AGITO Medical A/S
3. Hill-Rom Holdings Inc.
4. Woodley Equipment Company Ltd
5. Westside Medical Supply
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