Global Medical Equipment Rental Market Trends, Forecast Report 2025-2037
Medical Equipment Rental Market size is projected to increase from USD 62.62 billion to USD 125.14 billion, witnessing a CAGR of over 5.6% during the forecast period, from 2025 to 2037. In the year 2025, the industry size of medical equipment rental is assessed at USD 65.38 billion.
The market growth is attributed to patient care and clinical satisfaction. Medical equipment is one of the fundamental and necessary tools in healthcare applications. According to Indian Brand Equity Foundation (IBEF), in June 2021, the quality council of India (QCI) and the association of Indian manufacturers of medical devices (AiMeD) launched the Indian certification of medical devices (ICMED) 13485 Plus scheme to undertake verification of the quality, safety and efficacy of medical devices. Rising of chronic diseases and rise in geriatric population across the globe will further impel the market growth. According to British Heart Foundation, in 2021, around 7.6 million in the U.K. were suffering from cardiovascular diseases.
Medical Equipment Rental Sector: Growth Drivers and Challenges
Growth Drivers
- Increased home healthcare preferences – The augmentation of home medical equipment is resulting the reduction of dependency on clinical and pathological support and diagnostic facilities for every single need such as, ventilators and nebulizers, wheelchairs, infusion pumps, blood glucose meters, apnea monitors, and other home monitoring devices. According to International Diabetes Federation (IDF), 537 million adults (20-79 years) are living with diabetes 1 in 10. This number is predicted to rise to 643 million by 2030 and 783 million by 2045.
- Increase in Geriatric Population – According to World Health Organization (WHO), by 2030, 1 in 6 people in the world will be aged 60 years or over. At this time the share of the population aged 60 years and over will increase from 1 billion in 2020 to 1.4 billion. By 2050, the world’s population of people aged 60 years and older will double (2.1 billion). The number of persons aged 80 years or older is expected to triple between 2020 and 2050 to reach 426 million.
- Increasing Demand for Technically Advanced Healthcare Facilities– In July 2022, the Indian Council of Medical Research (ICMR) released standard treatment guidelines for 51 common illnesses across 11 specialties to assist doctors, particularly in rural regions, in diagnosing, treating, or referring patients in time for improved treatment outcomes.
- Increasing Prevalence of Chronic Diseases – According to World Health Organization (WHO), cardiovascular diseases account for most NCD deaths, or 17.9 million people annually, followed by cancers (9.3 million), chronic respiratory diseases (4.1 million), and diabetes (2.0 million including kidney disease deaths caused by diabetes).
- Various Government Initiative for Advanced Healthcare Facilities – According to Indian Brand Equity Foundation (IBEF), Indian Government aims to develop India as a global healthcare hub, and is planning to increase public health spending to 2.5% of country’s GDP by 2025.
Challenges
- Lack of insurance coverage and price knowledge
- Lack of quality in manufactured equipment
Medical Equipment Rental Market: Key Insights
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Base Year |
2024 |
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Forecast Year |
2025-2037 |
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CAGR |
5.6% |
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Base Year Market Size (2024) |
USD 62.62 billion |
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Forecast Year Market Size (2037) |
USD 125.14 billion |
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Regional Scope |
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Medical Equipment Rental Segmentation
Product type {Durable Medical Equipment (Acute care, Long term care, Emergency, Trauma care), Electronic/Digital Equipment, Storage and Transport, Personality Mobility Device}
The durable medical equipment segment is attributed to garner the highest medical equipment rental market share by 2037, owing to growing number of disabled and geriatric population. According to World Health Organization (WHO), Over 1 billion people are estimated to experience disability. This corresponds to about 15% of the world's population, with up to 190 million (3.8%) people aged 15 years and older having significant difficulties in functioning.
Our in-depth analysis of the global market includes the following segments:
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By Product Type |
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By Application |
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Customize this ReportMedical Equipment Rental Industry - Regional Synopsis
The market in North America is expected to account for largest share by 2037, owing to growing investments in healthcare infrastructure in the region. According to the data published by International Trade Administration (ITA), in 2021, the U.S. supplied approximately 32% of Canada's total medical equipment and supplies manufacturing imports, followed by China (20%), Mexico (9%), and Germany (4%).
Companies Dominating the Medical Equipment Rental Market
- Apria Healthcare Group, Inc.
- Company Overview
- Business Strategy
- Key Product Offerings
- Financial Performance
- Key Performance Indicators
- Risk Analysis
- Recent Development
- Regional Presence
- SWOT Analysis
- Universal Hospital Services, Inc.
- US Med-Equip, Inc.
- Huron Hospital Medical Equipment
- Westside Medical Supply, Inc.
- Centric Health Corporation
- Hill-ROM Holdings, Inc.
- Nunn’s Home Medical Equipment
- Walgreen co.
- Woodley Equipment Company ltd.
In the News
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Walgreen co. updated COVID-19 boosters are now available for individual aged 12 years and older to help protect communities against newer variants like OMRICRON BA.4 and BA.5
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Centric Health Corporation announces that it has closed the previously announced sale of its Surgical and Medical Centre business to Clearpoint Health Network Inc.
Author Credits: Radhika Pawar
- Report ID: 495
- Published Date: Jan 17, 2025
- Report Format: PDF, PPT
