Global Medical Equipment Rental Market Outlook to 2025 - Lowered Procurement Costs and Reduced Capital Requirement are Key Drivers
DUBLIN, Nov. 19, 2018 /PRNewswire/ --
The "Medical Equipment Rental Market Size, Share & Trends Analysis Report By End Use (Personal, Institutes, Hospitals), By Product (Storage & Transport, Durable, Surgical), And Segment Forecasts, 2018 - 2025" report has been added to ResearchAndMarkets.com's offering.
The global medical equipment rental market size is expected to reach USD 64.07 billion by 2025, progressing at a CAGR of 4.4% during the forecast period. Expanding base of geriatric and disabled population coupled with rising need for home healthcare products is propelling the market.
Rising demand for technologically advanced clinical devices and increasing healthcare expenditure is encouraging R&D activities in the medical devices industry are resulting in launch of expensive variants of medical products. This is anticipated to positively influence the growth of the medical equipment rental market.
Dominance of durable medical equipment (DME) can be attributed to increasing adoption of personal mobility and assist aids by disabled individuals. In addition, surging demand for monitoring and therapeutic instruments owing to increasing patient pool and continuous technological upgradation in these devices are spurring the growth of the DME rental market.
Emergence of financial services for leasing healthcare apparatus in the past few years has emerged to be a boon for hospitals, institutes, and other healthcare providers. Moreover, renting equipment confers cost benefits to end users, as it reduces ownership costs and in turn allows these players to adopt advanced product modules.
Rising concerns regarding palliative care coupled with regulatory transformations for the same are poised to augment the market. Regulatory transformation or programs adopted by hospitals for palliative care are resulting in increased demand for rental equipment.
Further key findings from the report suggest:
- DMEs emerged as the largest product segment in 2017 owing to increasing disabled population
- Hospitals dominated the market in 2017 owing to heightened demand for rental devices for cost benefits
- North America is projected to lead the market throughout the forecast horizon. Improving awareness about home healthcare and increasing demand for novel technologies are supporting the dominance of the region
- The market in Asia Pacific is estimated to witness healthy growth during the forecast period owing to faster adoption of advanced equipment for quality healthcare practices
- Few of the key market players include Hill-Rom Holdings, Inc., Westside Medical Supply, Nunn's Home Medical Equipment, Siemens Financial Services, Inc., Woodley Equipment Company Ltd.; and Universal Hospital Services, Inc.
Key Topics Covered
Chapter 1 Research Methodology
1.1 Information Procurement
1.2 Data Analysis
1.3 Approaches For Market Estimation
1.3.1 Approach 1: Demand analysis & bottom up approach
1.3.2 Approach 2: Top down market estimation
1.3.3 Approach 3: Commodity flow and bottom up market estimation
1.3.4 Approach 4: KoL perspective based market sizing
Chapter 2 Executive Summary
2.1 Market Snapshot
2.2 Primary Data Analysis
Chapter 3 Market Variables, Trends & Scope
3.1 Market Segmentation & Scope
3.2 Market Driver Analysis
3.2.1 Increasing demand for home healthcare
3.2.2 Shortened product lifecycle
3.2.3 Lowered procurement costs and reduced capital requirement
3.3 Market Restraint Analysis
3.3.1 Inclusion of medical devices in insurance policies
3.4 Penetration & Growth Prospect Mapping
3.5 Medical Equipment Rental Market - Swot Analysis, By Factor (Political & Legal, Economic And Technological)
3.6 Industry Analysis - Porter's
3.6.1 Threat of new entrants
3.6.2 Competitive rivalry
3.6.3 Bargaining power of suppliers
3.6.4 Bargaining power of buyers
3.6.5 Threat of substitutes
Chapter 4 Medical Equipment Rental Market: Product Estimates & Trend Analysis
4.1 Medical Equipment Rental Market: Product Movement Analysis
4.2 Surgical Equipment
4.3 Durable Medical Equipment
4.4 Storage and Transport Devices
Chapter 5 Medical Equipment Rental Market: By End-Use Type Estimates & Trend Analysis
5.1 Medical Equipment Rental Market: End-Use Movement Analysis
5.2 Personal/Home Care
5.3 Institutes and Laboratories
5.4 Hospitals
Chapter 6 Medical Equipment Rental Market: Regional Estimates & Trend Analysis, by Product and Application
6.1 Medical Equipment Rental Market: Regional Movement Analysis
6.2 North America
6.3 Europe
6.4 Asia Pacific
6.5 Latin America
6.6 Middle East and Africa (MEA)
Chapter 7 Competitive Landscape
7.1 Company Profiles
- Hill-Rom Holdings Inc.
- Siemens Financial Services Inc.
- Nunn's Home Medical Equipment
- Westside Medical Supply
- Universal Hospital Services, Inc.
- Woodley Equipment Company Ltd.
For more information about this report visit https://www.researchandmarkets.com/research/8d29fh/global_medical?w=5
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