Home Medical Equipment Rentals in the US - Industry Market Research Report

Home Medical Equipment Rentals in the US - Industry Market Research Report

Home Medical Equipment Rentals in the US

The Home Medical Equipment Rentals industry has contracted as many healthcare providers have struggled with cuts to Medicare and Medicaid reimbursements. Medicare and Medicaid payments account for a significant portion of revenue, as seniors aged 65 and older are insured by Medicare and represent one of the largest markets for services. Falling payments have posed a challenge even as the number of senior citizens continues to grow and drive demand for industry service, increasing the volume of customers. However, the COVID-19 pandemic has been a boon for the industry as the spike in respiratory illnesses drove demand for oxygen and respiratory therapy equipment, the industry's largest product segment. In all, over the five years to 2023, industry revenue is projected to increase at a CAGR of 0.8% to $5.1 billion.

This industry rents devices that are designed to aid in the diagnosis, monitoring or treatment of medical conditions to individuals in their homes. Examples include respiratory and mobility aids such as oxygen tanks, crutches and wheelchairs. The industry also rents hospital beds for home use. Operators in this industry do not rent medical equipment or beds for use outside of homes.

This report covers the scope, size, disposition and growth of the industry including the key sensitivities and success factors. Also included are five year industry forecasts, growth rates and an analysis of the industry key players and their market shares.