US Medical Equipment Rental Market - Focused Insights 2023-2028

US Medical Equipment Rental Market - Focused Insights 2023-2028

REPORT OVERVIEW

This report offers market size & forecast data for the medical equipment rental market in the US. The revenue generated from providing rental services for medical equipment and revenue generated from providing rental services for new and used medical equipment are included in the report. Revenue generated by refurbished medical equipment are excluded from the report’s scope. This report provides a comprehensive and current US medical equipment rental market scenario, including the US medical equipment market size, anticipated market forecast, relevant market segmentations, and industry trends.

The study considers a detailed scenario of the present medical equipment rental market and its market dynamics for 2023−2028 in the US. It covers a detailed overview of several market growth enablers, restraints, and trends. The report offers both the demand and supply aspects of the market. It profiles and examines leading companies and other prominent players operating in the market.

MARKET DEFINITION

Medical equipment rental is an agreement by the licensee with the licensor wherein the licensor allows the licensee to utilize the equipment for a particular period in exchange for rental. The equipment can be rented on a monthly, daily, or weekly basis.

KEY HIGHLIGHTS

• In US, the medical equipment rental market was valued at $7.84 billion in 2022 and is expected to reach $8.92 billion by 2028, growing at a CAGR of 2.17%.
• The demand for healthcare equipment rental is majorly driven by the rise of chronic diseases, a growing patient population, an increase in the number of diagnostic and surgical procedures, the high cost of healthcare equipment, rapid advances in healthcare, an increasing number of hospitals and diagnostic centers, and others.
• In product type segmentation, the medical imaging equipment segment accounted for the highest share of 30.05% in 2022 and is projected to grow at the highest CAGR of 2.01% during the forecast period. The increasing demand for medical imaging equipment is due to raising the imaging & diagnostic procedures, increasing the disease burden, increasing the prevalence of chronic diseases, and rising the geriatric population. However, patient monitoring equipment will likely witness the highest CAGR of 2.66% during the forecast period.
• In end-user segmentation, the hospitals segment accounted for the highest share of 36.05% in 2022 and is projected to grow at the highest CAGR of 1.61% during the forecast period. This is because hospitals provide end-to-end services ranging from diagnosis and treatment to patient health management, which has increased the demand for various healthcare equipment. However, clinics & physician offices will likely witness the highest CAGR of 2.58% during the forecast period.
• Many organizations are engaged in providing medical equipment of the innovative type on a rental basis. Advanced supervision for the patients with the help of healthcare professionals through the use of these innovative products will provide lucrative opportunities for the growth of this market in the long run.
• Apria Healthcare Inc (Owens & Minor), CareRx, Hill-Rom Holdings Inc, US-Med Equipment Inc, and Walgreen Co. are some of the leading players currently dominating the medical equipment rental market. The major players focus on strategic acquisitions and collaborations with emerging players to enter the medical equipment rental market and gain access to commercially launched products.

VENDORS LIST

1. Apria Healthcare Inc

2. CareRx Corp

3. Hill-Rom Holdings

4. US-Med Equipment Inc

5. Walgreen Co.,

6. Woodley Equipment Inc

7. Hart Medical Equipment

8. Agiliti Inc

9. Westside Medical Supply

10. Nunn’s Home Medical Equipment

11. Med One Group

12. Stryker Corp

13. GreatAmerica Financial Services

14. Insight Financial Services

REPORT HIGHLIGHTS

PRODUCT SEGMENTATION & FORECAST

• Product type
• Medical Imaging Equipment
• Surgical & Therapeutics Equipment
• Patient Monitoring Equipment
• Laboratory Equipment
• Personal Mobility, Storage & Transport Equipment
• End-user type
• Hospitals
• Radiology/Medical Imaging Centers
• Clinics & Physician Offices
• Clinical & Research Laboratories
• Others
• Rental type
• New Equipment Rental
• Used Equipment Rental

MARKET STRUCTURE

• Market Dynamics
• Competitive Landscape of Medical Equipment Rental Market
• Key Vendors
• Other Prominent Vendors

APPENDIX

• Research Methodology
• Abbreviations
• About Arizton