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Market Research Report

Medical Equipment Rental Market : Global Historical Growth (2012-2016) & Future Outlook (2017-2024) Demand Analysis & Opportunity Evaluation

Published On : 09:40 AM, 14th September, 2017 REP-ID-495 Category: Healthcare

Medical Equipment Rental Market Overview

Medical equipment rental is referred to the leasing or renting of medical equipment. Renting or leasing of medical equipment have emerged as an alternative to equipment purchasing to various end users such as medical institutions and others. Medical equipment can be rented on the basis of daily, weekly and monthly. 

Market Size and Forecast

The global medical equipment rental market is expected to grow at a CAGR of 7.1% over the forecast period i.e. 2017-2024. Further, the market of medical equipment rental is riding on the back of numerous factors such as increasing healthcare infrastructure and rising preference for rental medical equipment due to affordable prices.

Medical Equipment Rental Market

On the basis of device, the global medical equipment rental market is segmented into personal/home care equipment, electronic/digital equipment, surgical equipment, durable medical equipment, and storage and transport. Further, durable medical equipment captured the largest market share in 2016. Additionally, durable medical equipment segment is envisioned to continue its dominance over the forecast period owing to high prevalence of diseases.

In terms of regional platform, Europe and North America regions are the most prominent regional market for medical equipment rental. Europe region is projected to dominate the overall market of medical equipment rental by the end of 2024 aided by Western European countries such as Germany, U.K. and others. Further, this growth of Europe region is attributed to numerous factors such as rapid urbanization and growing adoption of rental medical equipment.

North America region captured the second largest market of medical equipment rental in terms of revenue in 2016. Additionally, U.S. and Canada are the major countries witnessing the augmented demand medical equipment rental due to growing preference for rental medical equipment. Asia-Pacific region is believed to be the most lucrative market of medical equipment rental due to growing emerging economies such as China, India and others. Further, rising disposable income and positive GDP figures across the region are believed to flourish the growth of medical equipment rental market. 

Market Segmentation

Our in-depth analysis segmented the global medical equipment rental market in the following segments:

By Device Type

  • Personal/Home Care Equipment
  • Electronic/Digital Equipment
  • Surgical Equipment
  • Durable Medical Equipment
  • Storage and transport

Medical Equipment Rental Market

By End-Users

  • Personal/Home Care Medical Equipment Rental
  • Institutional Medical Equipment Rental

By Region

Global medical equipment rental market is further classified on the basis of region as follows:

  • North America (U.S. & Canada) Market size, Y-O-Y growth & Opportunity Analysis
  • Latin America (Brazil, Mexico, Rest of Latin America) Market size, Y-O-Y growth & Opportunity Analysis
  • Europe (U.K., Germany, France, Italy, Spain, Hungary, Belgium, Netherlands & Luxembourg, Rest of Europe) Market size, Y-O-Y growth & Opportunity Analysis
  • Asia-Pacific (China, India, Japan, Singapore, Australia, New Zealand, Rest of Asia) Market size, Y-O-Y growth & Opportunity Analysis.
  • Middle East and Africa (GCC, North Africa, South Africa, Rest of Middle East and Africa) Market size, Y-O-Y growth & Opportunity Analysis

Growth Drivers and Challenges

Factors such as growing prevalence of chronic diseases, rising healthcare expenditure, increasing adoption of rental medical equipment and growing old age population are believed to be the dynamic factor behind the rapid growth of medical equipment rental market. Moreover, increasing preference for rental medical equipment due to lower cost is envisioned to foster the growth of medical equipment rental market across the globe. Further, high demand for medical equipment rental from medical and healthcare institutions is also predicted to elevate the global medical equipment rental market.    

Likely, rapid urbanization and growing GDP figures of the developed and developing nations are also expected to flourish the growth of medical equipment rental market by the end of 2024. Further, medical equipment rental market is driving on various factors such as shortened medical equipment life due to continuous technological advancement and high prices of new medical equipment. In addition to this, short replacement cycles of medical equipment further boost the demand for rental medical equipment.

However, lack of awareness regarding medical equipment rental is projected to dampen the growth of medical equipment rental market over the forecast period.

Key players

The major key players for medical equipment rental market are as follows

  • Hill-Rom Holdings, Inc.
    • Company Overview
    • Key Product Offerings
    • Business Strategy
    • SWOT Analysis
    • Financials
  • Nunn’s Home Medical Equipment
  • Port Huron Hospital Medical Equipment
  • US Med-Equip, Inc.
  • Universal Hospital Services, Inc.
  • Woodley Equipment Company Ltd.
  • Westside Medical Supply, Inc.
  • Medone Group
  • Apria Healthcare Group, Inc.
  • Siemens Financial Services, Inc.

Scope and Context

Overview of the Parent Market

Analyst View

Segmentation

The global medical equipment rental market is segmented as follows:

  • By Device Type Market Size & Y-O-Y Growth Analysis
  • By End-Users Market Size & Y-O-Y Growth Analysis
  • By Region Market Size & Y-O-Y Growth Analysis

Market Dynamics

Supply & Demand Risk

Competitive Landscape

Porter’s Five Force Model

Geographical Economic Activity

Key Players (respective SWOT Analysis) and their Strategies and Product Portfolio

Recent Trends and Developments

Industry Growth Drivers and Challenges

Key Information for Players to establish themselves in current dynamic environment

 

Key Answers Captured in Report?
Which geography would have better demand for product/services?
What are the strategies adopted by big players in the regional market?
Which country would see the steep rise in CAGR & year-on-year (Y-O-Y) growth?
What is the current & expected market size in next five years?
What is the market feasibility for long term investment?
What opportunity the country would offer for existing and new players in the market?
What is risk involved for suppliers in the geography?
What factors would drive the demand for the product/service in near future?
What is the impact analysis of various factors in the market growth?
What are the recent trends in the regional market and how successful they are?

 

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