PUBLISHER: Prescient & Strategic Intelligence | PRODUCT CODE: 1457955
PUBLISHER: Prescient & Strategic Intelligence | PRODUCT CODE: 1457955
Healthcare Equipment Rental Market Size and Share Analysis by Product, End User - Global Industry Demand Forecast to 2030
In 2023, the healthcare equipment rental market was valued at USD 59.1 billion and is projected to grow at a CAGR of 5.7% from 2024 to 2030, reaching USD 86.8 billion by 2030.
Market Drivers
Improving healthcare infrastructure is a key driver for the healthcare equipment rental market, impacting both demand and supply aspects:
Investments in hospital infrastructure upgrades worldwide have led to a higher demand for medical instruments, especially in modernized healthcare facilities.
The establishment of new healthcare facilities, particularly in emerging economies like India and China, contributes to the growing need for healthcare equipment rental services.
Rising equipment costs prompt healthcare providers to opt for rental services as a cost-effective solution, coupled with tax benefits that encourage rental usage.
Significant investments by public organizations globally, such as in the U.S., India, and China, to upgrade healthcare infrastructure, directly impact the demand for medical instruments and equipment rental services.
The rising costs of purchasing medical equipment drive healthcare providers to opt for rental services as a cost-effective alternative. This factor, combined with the tax benefits associated with renting, encourages healthcare facilities to utilize equipment rental solutions.
Durable Medical Equipment Category Holds Significant Share
Durable medical equipment accounts for a major share of 35% due to its suitability for repetitive and frequent use.
The growing disabled and elderly population is driving the demand for mobility aids and assistive devices, boosting this category's growth.
Monitoring and therapeutic equipment are expected to experience substantial rental revenue growth, particularly due to the increasing need for wireless monitoring devices for daily vital checks.
This demand is boosted by the rising prevalence of lifestyle-related diseases.
Hospitals Are Largest End Users
In 2023, on the basis of end-user, the hospitals category is dominating, with a share of 40%, this can be credited to the advancing government guidelines about the growth of enhanced medical infrastructure and the increasing count of patients. In recent years, hospitals have started to rent a variety of devices, instead of wholly buying them.
Moreover, the growing need for dissolving frozen capital, along with the rising worries regarding inefficient capital distribution, is propelling the need for medical device leasing.
North America Is Dominating the Market
In 2023, the North American region is dominating the industry, with a value of USD 29.5 billion. This can be credited to the high need for technically enhanced items and the presence of a huge count of leasing service providers.
The increase in device prices results in less money spent on the latest therapies, which in turn drives a trend towards the use of instrument rentals as cost-friendly alternatives.
The U.S. healthcare industry is anticipated to grow at a CAGR of 5.8%, supported by increased incidence of chronic diseases, solid medical infrastructure, systemic development, expanding healthcare demand, and the existence of major industry players.
Based on the American Hospital Association, the United States had 6,129 hospitals, in 2022, which admitted 34,011,386 people, and the total expenses for hospitals reached USD 1,213,881 million.
A high healthcare demand among U.S. citizens may lead to the purchase of new sophisticated and costly medical equipment, forcing mid-size and small hospitals to opt for leasing rather than purchasing due to growing needs.
Table of Contents
Chapter 1. Research Scope
- 1.1. Research Objectives
- 1.2. Market Definition
- 1.3. Analysis Period
- 1.4. Market Size Breakdown by Segments
- 1.4.1. Market size breakdown, by product
- 1.4.2. Market size breakdown, by end user
- 1.4.3. Market size breakdown, by region
- 1.4.4. Market size breakdown, by country
- 1.5. Market Data Reporting Unit
- 1.5.1. Value
- 1.6. Key Stakeholders
Chapter 2. Research Methodology
- 2.1. Secondary Research
- 2.1.1. Paid
- 2.1.2. Unpaid
- 2.1.3. P&S Intelligence database
- 2.2. Primary Research
- 2.3. Market Size Estimation
- 2.4. Data Triangulation
- 2.5. Currency Conversion Rates
- 2.6. Assumptions for the Study
- 2.7. Notes and Caveats
Chapter 3. Executive Summary
Chapter 4. Market Indicators
Chapter 5. Industry Outlook
- 5.1. Market Dynamics
- 5.1.1. Trends
- 5.1.2. Drivers
- 5.1.3. Restraints/challenges
- 5.1.4. Impact analysis of drivers/restraints
- 5.2. Impact of COVID-19
- 5.3. Porter's Five Forces Analysis
- 5.3.1. Bargaining power of buyers
- 5.3.2. Bargaining power of suppliers
- 5.3.3. Threat of new entrants
- 5.3.4. Intensity of rivalry
- 5.3.5. Threat of substitutes
Chapter 6. Global Market
- 6.1. Overview
- 6.2. Market Revenue, by Product (2017-2030)
- 6.3. Market Revenue, by End User (2017-2030)
- 6.4. Market Revenue, by Region (2017-2030)
Chapter 7. North America Market
- 7.1. Overview
- 7.2. Market Revenue, by Product (2017-2030)
- 7.3. Market Revenue, by End User (2017-2030)
- 7.4. Market Revenue, by Country (2017-2030)
Chapter 8. Europe Market
- 8.1. Overview
- 8.2. Market Revenue, by Product (2017-2030)
- 8.3. Market Revenue, by End User (2017-2030)
- 8.4. Market Revenue, by Country (2017-2030)
Chapter 9. APAC Market
- 9.1. Overview
- 9.2. Market Revenue, by Product (2017-2030)
- 9.3. Market Revenue, by End User (2017-2030)
- 9.4. Market Revenue, by Country (2017-2030)
Chapter 10. LATAM Market
- 10.1. Overview
- 10.2. Market Revenue, by Product (2017-2030)
- 10.3. Market Revenue, by End User (2017-2030)
- 10.4. Market Revenue, by Country (2017-2030)
Chapter 11. MEA Market
- 11.1. Overview
- 11.2. Market Revenue, by Product (2017-2030)
- 11.3. Market Revenue, by End User (2017-2030)
- 11.4. Market Revenue, by Country (2017-2030)
Chapter 12. U.S. Market
- 12.1. Overview
- 12.2. Market Revenue, by Product (2017-2030)
- 12.3. Market Revenue, by End User (2017-2030)
Chapter 13. Canada Market
- 13.1. Overview
- 13.2. Market Revenue, by Product (2017-2030)
- 13.3. Market Revenue, by End User (2017-2030)
Chapter 14. Germany Market
- 14.1. Overview
- 14.2. Market Revenue, by Product (2017-2030)
- 14.3. Market Revenue, by End User (2017-2030)
Chapter 15. France Market
- 15.1. Overview
- 15.2. Market Revenue, by Product (2017-2030)
- 15.3. Market Revenue, by End User (2017-2030)
Chapter 16. U.K. Market
- 16.1. Overview
- 16.2. Market Revenue, by Product (2017-2030)
- 16.3. Market Revenue, by End User (2017-2030)
Chapter 17. Italy Market
- 17.1. Overview
- 17.2. Market Revenue, by Product (2017-2030)
- 17.3. Market Revenue, by End User (2017-2030)
Chapter 18. Spain Market
- 18.1. Overview
- 18.2. Market Revenue, by Product (2017-2030)
- 18.3. Market Revenue, by End User (2017-2030)
Chapter 19. Japan Market
- 19.1. Overview
- 19.2. Market Revenue, by Product (2017-2030)
- 19.3. Market Revenue, by End User (2017-2030)
Chapter 20. China Market
- 20.1. Overview
- 20.2. Market Revenue, by Product (2017-2030)
- 20.3. Market Revenue, by End User (2017-2030)
Chapter 21. India Market
- 21.1. Overview
- 21.2. Market Revenue, by Product (2017-2030)
- 21.3. Market Revenue, by End User (2017-2030)
Chapter 22. Australia Market
- 22.1. Overview
- 22.2. Market Revenue, by Product (2017-2030)
- 22.3. Market Revenue, by End User (2017-2030)
Chapter 23. South Korea Market
- 23.1. Overview
- 23.2. Market Revenue, by Product (2017-2030)
- 23.3. Market Revenue, by End User (2017-2030)
Chapter 24. Brazil Market
- 24.1. Overview
- 24.2. Market Revenue, by Product (2017-2030)
- 24.3. Market Revenue, by End User (2017-2030)
Chapter 25. Mexico Market
- 25.1. Overview
- 25.2. Market Revenue, by Product (2017-2030)
- 25.3. Market Revenue, by End User (2017-2030)
Chapter 26. Saudi Arabia Market
- 26.1. Overview
- 26.2. Market Revenue, by Product (2017-2030)
- 26.3. Market Revenue, by End User (2017-2030)
Chapter 27. South Africa Market
- 27.1. Overview
- 27.2. Market Revenue, by Product (2017-2030)
- 27.3. Market Revenue, by End User (2017-2030)
Chapter 28. U.A.E. Market
- 28.1. Overview
- 28.2. Market Revenue, by Product (2017-2030)
- 28.3. Market Revenue, by End User (2017-2030)
Chapter 29. Competitive Landscape
- 29.1. List of Market Players and their Offerings
- 29.2. Competitive Benchmarking of Key Players
- 29.3. Product Benchmarking of Key Players
- 29.4. Recent Strategic Developments
Chapter 30. Company Profiles
- 30.1. Hill-Rom Holdings Inc.
- 30.1.1. Business overview
- 30.1.2. Product and service offerings
- 30.1.3. Key financial summary
- 30.2. Agiliti Inc.
- 30.2.1. Business overview
- 30.2.2. Product and service offerings
- 30.2.3. Key financial summary
- 30.3. Oak Leasing Ltd.
- 30.3.1. Business overview
- 30.3.2. Product and service offerings
- 30.3.3. Key financial summary
- 30.4. Koninklijke Philips N.V.
- 30.4.1. Business overview
- 30.4.2. Product and service offerings
- 30.4.3. Key financial summary
- 30.5. Mizuho Leasing Co. Ltd.
- 30.5.1. Business overview
- 30.5.2. Product and service offerings
- 30.5.3. Key financial summary
- 30.6. Siemens Limited
- 30.6.1. Business overview
- 30.6.2. Product and service offerings
- 30.6.3. Key financial summary
- 30.7. Med One Group
- 30.7.1. Business overview
- 30.7.2. Product and service offerings
- 30.7.3. Key financial summary
- 30.8. Westside Medical Supply
- 30.8.1. Business overview
- 30.8.2. Product and service offerings
- 30.8.3. Key financial summary
- 30.9. Nunn's Home Medical Equipment
- 30.9.1. Business overview
- 30.9.2. Product and service offerings
- 30.9.3. Key financial summary
Chapter 31. Appendix
- 31.1. Abbreviations
- 31.2. Sources and References
- 31.3. Related Reports
