Durable Medical Equipment Rental Market is Likely to Witness Steady Growth by 2033

According to a newly released Durable Medical Equipment Rental Market analysis report by Future Market Insights, revenue from the Durable Medical Equipment Rental Market revenue in 2023 is expected to reach US$ 27 billion and US$ 47 billion by 2033, with a CAGR of 5.7% from 2023 to 2033. Hospitals are forecast to be the greatest revenue-generating segment, with a CAGR of more than 5.7% from 2023 to 2033.

Healthcare organisations are currently operating in a dynamic environment, facing seismic shifts as a result of the advent of groundbreaking medical therapies and rising internet usage. As a result, astute patients have become more cautious, and unprecedented online access to vast volumes of information has increased. As a result, there is a rising demand for intelligent, cost-effective, and customised healthcare services. COVID-19 has also increased demand for healthcare and related products and services, hence increasing the overall performance of the healthcare business. This has created excellent conditions for the rental of durable medical equipment.

Despite expected and exponential expansion, healthcare operators continue to struggle to find a long-term financing solution to invest in cutting-edge technology and equipment to fulfil the demands of an increasingly demanding consumer base. Renting medical equipment may be the next big thing in the global healthcare industry, offering cost-effective and economical solutions during difficult economic times.

The lack of uniform regulatory criteria for medical equipment rental services, as well as high costs, are projected to constrain the industry's growth. Furthermore, it has been observed that few medical devices come with insurance, which will hinder the expansion of the global medical equipment rental sector.

In 2022, North America led the market. This is because of the country's strong healthcare system and government support for privately operated hospitals, clinics, and diagnostic services.

Competitive Analysis

Some of the key players operating in the medical equipment rental market include Hill-Rom Holdings Inc., Stryker Corporation, Getinge AB, Siemens Financial Services Inc, Nunn’s Home Medical Equipment, Westside Medical Supply, Universal Hospital Services, Inc., Woodley Equipment Company Ltd., GE Healthcare, C.N.Y. Medical Products Inc., All American Medical Supply Corp., and Homepro Medical Supplies, LLC.

Get More Insights@ https://www.futuremarketinsights.com/reports/durable-medical-equipment-rental-market

Market Segments Covered in Durable Medical Equipment Rental Market Analysis

By Application:

  • Personal Mobility Devices
  • Bathroom Safety and Medical Furniture
  • Monitoring and Therapeutic Devices

By End Use:

  • Personal/Homecare
  • Institutes and laboratories
  • Hospitals

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