Medical Equipment Rental Market to Reach US$49,112.8 Million by 2020

The Global medical equipment rental market forecasts that the industry is expected to reach US$49,112.8 million in 2020, expanding at a CAGR of 5.8% during the forecast period from 2014 to 2020. The report, titled “Medical Equipment Rental Market - Global Industry Analysis, Size, Share, Growth, Trends and Forecast 2014 - 2020”, states that the worldwide medical equipment rental market stood at US$33,417.4 million in 2013.The market report has factual information about the market dynamics as well as drivers, restraints, and opportunity prevalent in the global medical equipment rental market. The market segmentation of the medical equipment rental industry is also discussed in detail.

 

According to the report, escalating pressure to decrease medical costs is expected to fuel the growth of the medical equipment rental market significantly during the forecast period. Other market drivers described in the research report are the augmenting prevalence of chronic diseases, rising population density, and the cost-effectiveness of medical equipment rentals. On the other hand, the lack of favorable regulations together with poor pricing flexibility is stated to be a major market restraint. Emerging economies are expected to present novel opportunities to players in the medical equipment rental market due to the increase in their distribution network and the government initiatives supporting the growth of the market in these regions.The research report analyzes the global medical equipment rental market on the basis of the type of devices, geographical distribution, and the end-use industries.

 

The durable medical equipment market dominated the overall medical equipment rental industry based on the types of devices, accounting for a 40% share in 2013. The market segment is expected to maintain its dominance over the forecast period, expanding at a CAGR of more than 5%, according to the report.  The personal/homecare equipment rental market dominates the medical equipment rental market based on end-use industry on account of the rising base of chronic and geriatric patients. In 2013, the market for chronic and geriatric patients held more than half of the personal/home care medical equipment rental segment. The segment is expected to maintain its lead over the forecast period.

 

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Browse the full Medical Equipment Rental Market (Device Types: Personal/Home Care Equipment, Electronic/Digital Equipment, Surgical Equipment, Durable Medical Equipment, Storage & Transport; End Users: Personal/Home Care & Institutional) - Global Industry Analysis, Size, Share, Growth, Trends and Forecast 2014 - 2020 report at http://www.transparencymarketresearch.com/medical-equipment-rental.html

 

Geographically, the medical equipment rental market in Europe generated the maximum revenue in the global medical equipment rental market in 2013, followed by the market in North America. The report estimates that North America will exceed Europe during the forecast period in terms of market share and projects the market in Asia Pacific to register the fastest growth at a CAGR of 6% during the forecast period. The report also provides the company profiles of some of the leading companies operating in the global medical equipment rental market, such as Centric Health Corporation, Nunn’s Home Medical Equipment, Universal Hospital Services, Inc., Siemens Financial Services, Inc., Westside Medical Supply, and Apria Healthcare Group, Inc.

 

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