Medical Equipment Rental MarketSize and Trends

The global medical equipment rental market was valued at US$ 46.9 Bn in 2022 and is forecast to reach a value of US$ 69.1 Bn by 2030 at a CAGR of 5.0% between 2023 and 2030. The global medical equipment rental market is experiencing strong growth due to the rise in burden of chronic diseases and increasing demand for advanced healthcare equipment worldwide. Moreover, rising number of hospitals or medical facilities and rising adoption of leasing healthcare equipment is expected to boost growth of the market. However, factors such as non-adherence to the standards and lack of coverage provided in insurance are expected to hamper the market growth.

Figure 1. Global Medical Equipment Rental Market Share (%), by Region, 2023

Global Medical Equipment Rental Market Trends:

High demand for durable equipment is a recent trend

Durable medical equipment (DME) describes medical devices and supplies ordered by a healthcare provider for a patient's routine, long-term use. People now prefer postoperative and long-term care at home, and DME is any medical equipment used in the home to aid in a better quality of living. Thus, with the increasing demand for home care services across the globe, the demand for durable medical equipment is also increasing with a rapid pace. This trend is expected to continue over the forecast period, driving the growth of the market.

Increasing demand for home healthcare is another trend

With the help of at-home, self-administered testing kits or solutions, players in the market are able to support chronic and preventive care virtually and in patients' homes while facilitating patient-centric primary care experiences for a wider range of medical conditions. Thus, there is an increase in demand for such home-use equipment. This trend is also expected to continue over the forecast period, driving the growth of the medical equipment rental market.

Figure 2. Global Medical Equipment Rental Market Share (%), by Product, 2023