Author : Acumen Research and Consulting

The global medical equipment rental market is segmented into product, end-use rand region. Product based segmentation of the global medical equipment rental market can be further divided into surgical equipment, durable medical equipment and storage and transport. Durable medical equipment is bifurcated into personal mobility devices, bathroom safety and medical furniture, and monitoring and therapeutic devices. On the basis of end-user, the global medical equipment rental market is classified by personal/home care, institutional, and hospitals. On the basis of region the global Medical equipment rental market is differentiated into Europe, Latin America, North America, Middle East & Africa, and Asia Pacific.

Medical equipment rental market development is greatly influenced by the rising acceptance of medical assist gadgets paired with increasing economic crisis due to rapid technological growth. A move in pattern from acquiring to renting of gadgets has been seen in the course of recent decades in the healthcare industry. The market may develop further in the coming time due to reduced product life cycle.

Furthermore, hospital stays are reducing and extending geriatric, and debilitated patient pool is boosting the need for rental gadgets.

It is expected that the global medical equipment rental market will grow at a CAGR of 4.5%, attaining a market size of USD 65.4 billion by the year 2026.

A couple of threats however, pose a challenge in the development of this market. Occurrence of insurance coverage for a few medical gadgets is anticipated to pose a threat to the leasing/rental market. Additionally, accessibility of different grants and government arrangements for handicapped populace is anticipated to obstruct the development of the market as it stops the market from understanding its most extreme potential.

Here are some more points to help explain about the global medical equipment rental market:

• In 2018, North America region help the largest stake in the market owing to the nearness of a significant number of service providers and high need for technically progressive products. It is expected that its hold in the global medical equipment rental market will prevail in the forecast period.
• Following North America, Europe secured the largest portion of the market in 2018, in terms of revenue.
• The most impressive CAGR is expected to be exhibited by the Asia- Pacific region owing to the rising geriatric populace and steady government activities in emerging economies.
• Some of the main players operating in the global medical equipment rental market include Woodley Equipment Company Ltd., Hill-Rom Holdings, Inc., West side Medical Supply, Nunn’s Home Medical Equipment, Universal Hospital Services, Inc., and Siemens Financial Services, Inc.

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