Global medical equipment rental market projected to reach USD 97.69 billion by 2032 with 5.85% CAGR
From GlobeNewswire: 2025-03-27 12:06:00
The global Medical Equipment Rental Market was valued at USD 58.57 billion in 2023 and is projected to reach USD 97.69 billion by 2032, with a CAGR of 5.85%. The market is driven by rising healthcare costs, increasing demand for cost-effective solutions, and adoption of rental models by healthcare providers.
In the United States, the medical equipment rental industry has seen significant growth due to the rising incidence of chronic diseases and an aging population. Healthcare facilities are opting for rental options to access advanced medical technologies without large capital investments, improving financial flexibility and patient care.
The market is growing as clinics, hospitals, and home care facilities seek cost-effective ways to use high-tech medical equipment without ownership expenses. Equipment leasing allows for flexibility, especially for short-term needs and technological upgrades. The trend towards home healthcare has also increased the demand for rental solutions.
The demand for durable medical equipment (DME) and digital healthcare devices is fueling market growth. With a focus on operational efficiency, renting medical equipment remains an attractive option for healthcare providers. The incorporation of smart technologies and remote monitoring is expected to drive substantial growth in the rental market.
In 2023, the Durable Medical Equipment (DME) segment led the market with a 42.8% share, driven by demand for wheelchairs, hospital beds, and monitoring devices. The Electronic/Digital Equipment segment is the fastest-growing due to the adoption of digital healthcare solutions, improving patient care.
Hospitals dominated the market in 2023 with a 52.7% share, utilizing rentals to manage patient care demand and budget flexibility. The Personal/Home Care segment is rapidly growing, driven by the preference for home medical care. Chronic and Geriatric Patients led the Homecare segment with a 44.3% market share.
North America held a 37.8% share of the medical equipment rental market in 2023, with Asia-Pacific expected to grow at the fastest rate in the forecast period. The region’s high-standard healthcare facilities, growing geriatric population, and demand for affordable healthcare solutions are key market drivers. The market for rental medical equipment is growing due to the rise in chronic diseases, improved healthcare infrastructure, and government support for home healthcare solutions. India and China are leading the way, with increased demand for rental medical equipment.
Recent developments include Hill-Rom Holdings expanding rental services in North America and US Med-Equip strengthening their market position in the U.S. by acquiring additional warehouse spaces.
Demand for rental medical equipment is surging globally, especially in Asia-Pacific, driven by increased healthcare spending. Investments in AI-driven monitoring devices and IoT-enabled equipment rentals are also on the rise, enhancing healthcare efficiency.
For more information on the Medical Equipment Rental Market Analysis & Outlook Report 2024-2032, visit the link provided. SNS Insider is a leading market research agency providing clients with current, accurate market data to make informed decisions in changing circumstances. Contact [email protected] for customization requests.
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