Medical Equipment Rental Market Outlook:
Medical Equipment Rental Market size was valued at USD 59.82 billion in 2024 and is expected to reach USD 104.13 billion by 2034, expanding at around 5.7% CAGR during the forecast period i.e., between 2025-2034. In the year 2025, the industry size of medical equipment rental is evaluated at USD 62.72 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.
