Medical Equipment Rental Market Regional Analysis

Global Medical Equipment Rental Market size was valued at USD 58.9 billion in 2023 and is poised to grow from USD 62.08 billion in 2024 to USD 94.55 billion by 2032, growing at a CAGR of 5.4% during the forecast period (2025-2032).

Many businesses are putting an emphasis on natural growth initiatives, including new offerings, product approvals, and others like patents and activities. With the growing requirement for medical equipment rentals in the world market, key participants are expected to benefit from lucrative growth prospects in the years. One of the top companies in the medical supply industry is Medtronic plc. Currently, the corporation provides a wide range of products. The business has continued to create a monopoly over the years. 'US Med-Equip (US) ', 'Medirent Services Pvt. Ltd (India) ', 'Westside Medical Supply (US) ', 'Portea Medical Pvt. Ltd. (India) ', 'ArjoHuntleigh AB (Sweden) ', 'Agiliti Health, Inc. (US) ', 'Baxter International Inc. (US) ', 'Med One Group, LLC (US) ', 'Avante Health Solutions (US) ', 'USA Medical Supply (US) ', 'Universal Hospital Services (US) ', 'Woodley Equipment Company Ltd. (UK) ', 'Nunn's Home Medical Equipment (US) ', 'Siemens Financial Services, Inc. (Germany) ', 'Stryker (US) ', 'Hill-Rom Holdings Inc. (US) ', 'Apria Healthcare Group Inc. (US) ', 'GE Healthcare (US) ', 'Centric Health Ltd. (Canada) ', 'Rent A Med (US)'

Due to a rise in the demand for personal healthcare services brought on by hospitalization during the continuing pandemic, the worldwide rental market for medical equipment is expected to grow. Additionally, a spike in the aged population and disabled individuals is estimated to grow the demand for rental equipment in the near future.

After the pandemic outbreak phase, with a projected need for digital or electronic equipment, future trends in digitalization are transforming into value-grab opportunities for suppliers of rented medical equipment. Many companies that hire out medical equipment exclude past data on their low costs, fair values, insurance replacement price, and additional benefits, such as post-agreement activities. Customers are unable to bargain for a lower price because they are still uninformed of the full lease agreements. Therefore, insurance firms and providers of rental medical equipment should collaborate to inform patients and healthcare professionals about fair value prices and insurance replacement prices. In the health industry, there has been a noticeable tendency to shift away from buying medical equipment and toward renting them.

In 2021, the global medical equipment rental market is dominated by Europe followed by North America. The expansion of rental services for medical equipment as well as current and emerging companies' attention to the area are factors contributing to the region's supremacy. Due to the significant need for customer medical equipment rental in-home care settings and the assistance from government and healthcare institutes and hospitals that promote the use of rented medical equipment, Europe is the world's top area for medical equipment rentals.