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This report offers market size & forecast data for the medical equipment rental market in the US. The revenue generated from providing rental services for medical equipment and revenue generated from providing rental services for new and used medical equipment are included in the report. Revenue generated by refurbished medical equipment are excluded from the report’s scope. This report provides a comprehensive and current US medical equipment rental market scenario, including the US medical equipment market size, anticipated market forecast, relevant market segmentations, and industry trends. Speak directly to the analyst to clarify any post sales queries you may have.
The study considers a detailed scenario of the present medical equipment rental market and its market dynamics for 2023-2028 in the US. It covers a detailed overview of several market growth enablers, restraints, and trends. The report offers both the demand and supply aspects of the market. It profiles and examines leading companies and other prominent players operating in the market.
MARKET DEFINITION
Medical equipment rental is an agreement by the licensee with the licensor wherein the licensor allows the licensee to utilize the equipment for a particular period in exchange for rental. The equipment can be rented on a monthly, daily, or weekly basis.KEY HIGHLIGHTS
- In US, the medical equipment rental market was valued at $7.84 billion in 2022 and is expected to reach $8.92 billion by 2028, growing at a CAGR of 2.17%.
- The demand for healthcare equipment rental is majorly driven by the rise of chronic diseases, a growing patient population, an increase in the number of diagnostic and surgical procedures, the high cost of healthcare equipment, rapid advances in healthcare, an increasing number of hospitals and diagnostic centers, and others.
- In product type segmentation, the medical imaging equipment segment accounted for the highest share of 30.05% in 2022 and is projected to grow at the highest CAGR of 2.01% during the forecast period. The increasing demand for medical imaging equipment is due to raising the imaging & diagnostic procedures, increasing the disease burden, increasing the prevalence of chronic diseases, and rising the geriatric population. However, patient monitoring equipment will likely witness the highest CAGR of 2.66% during the forecast period.
- In end-user segmentation, the hospitals segment accounted for the highest share of 36.05% in 2022 and is projected to grow at the highest CAGR of 1.61% during the forecast period. This is because hospitals provide end-to-end services ranging from diagnosis and treatment to patient health management, which has increased the demand for various healthcare equipment. However, clinics & physician offices will likely witness the highest CAGR of 2.58% during the forecast period.
- Many organizations are engaged in providing medical equipment of the innovative type on a rental basis. Advanced supervision for the patients with the help of healthcare professionals through the use of these innovative products will provide lucrative opportunities for the growth of this market in the long run.
- Apria Healthcare Inc (Owens & Minor), CareRx, Hill-Rom Holdings Inc, US-Med Equipment Inc, and Walgreen Co. are some of the leading players currently dominating the medical equipment rental market. The major players focus on strategic acquisitions and collaborations with emerging players to enter the medical equipment rental market and gain access to commercially launched products.
VENDORS LIST
- Apria Healthcare Inc
- CareRx Corp
- Hill-Rom Holdings
- US-Med Equipment Inc
- Walgreen Co.,
- Woodley Equipment Inc
- Hart Medical Equipment
- Agiliti Inc
- Westside Medical Supply
- Nunn’s Home Medical Equipment
- Med One Group
- Stryker Corp
- GreatAmerica Financial Services
- Insight Financial Services
REPORT HIGHLIGHTS
PRODUCT SEGMENTATION & FORECAST
- Product type
- Medical Imaging Equipment
- Surgical & Therapeutics Equipment
- Patient Monitoring Equipment
- Laboratory Equipment
- Personal Mobility, Storage & Transport Equipment
- End-user type
- Hospitals
- Radiology/Medical Imaging Centers
- Clinics & Physician Offices
- Clinical & Research Laboratories
- Others
- Rental type
- New Equipment Rental
- Used Equipment Rental
MARKET STRUCTURE
- Market Dynamics
- Competitive Landscape of Medical Equipment Rental Market
- Key Vendors
- Other Prominent Vendors
Table of Contents
Chapter - 1: Medical Equipment Rental Market Overview
Chapter - 2: Medical Equipment Rental Market
Chapter - 3: Medical Equipment Rental Market Segmentation Data
Chapter - 4: Medical Equipment Rental Market Prospects & Opportunities
Chapter - 5: Medical Equipment Rental Industry Overview
Chapter - 6: Appendix
List of Exhibits
List of Tables
Companies Mentioned
- Apria Healthcare Inc
- CareRx Corp
- Hill-Rom Holdings
- US-Med Equipment Inc
- Walgreen Co.,
- Woodley Equipment Inc
- Hart Medical Equipment
- Agiliti Inc
- Westside Medical Supply
- Nunn’s Home Medical Equipment
- Med One Group
- Stryker Corp
- GreatAmerica Financial Services
- Insight Financial Services
Methodology
Our research comprises a mix of primary and secondary research. The secondary research sources that are typically referred to include, but are not limited to, company websites, annual reports, financial reports, company pipeline charts, broker reports, investor presentations and SEC filings, journals and conferences, internal proprietary databases, news articles, press releases, and webcasts specific to the companies operating in any given market.
Primary research involves email interactions with the industry participants across major geographies. The participants who typically take part in such a process include, but are not limited to, CEOs, VPs, business development managers, market intelligence managers, and national sales managers. We primarily rely on internal research work and internal databases that we have populated over the years. We cross-verify our secondary research findings with the primary respondents participating in the study.
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Table Information
| Report Attribute | Details |
|---|---|
| No. of Pages | 78 |
| Published | July 2023 |
| Forecast Period | 2022 - 2028 |
| Estimated Market Value ( USD | $ 7.84 Billion |
| Forecasted Market Value ( USD | $ 8.92 Billion |
| Compound Annual Growth Rate | 2.1% |
| Regions Covered | United States |
| No. of Companies Mentioned | 14 |
