The global medical equipment rental market will expand at a CAGR of 5.8% between 2014 and 2020, states a new market research study published by the market intelligence company Transparency Market Research (TMR). If the growth figures hold true, the market, which stood at a valuation of US$33,417.4 mn in 2013, will reach US$49,112.8 mn by 2020.The report is titled “Medical Equipment Rental Market - Global Industry Analysis, Size, Share, Growth, Trends and Forecast 2014 - 2020”, and is available at the company’s website for sale.
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
According to the report, the key factor driving an increased demand for procurement of medical equipment on rental basis rather than buying a variety of high-cost equipments is the rising pressure on the global healthcare community to reduce medical costs; the cost effectiveness of medical rentals also helps in improving healthcare facilities in poor or cash-strapped developing regions. Other forces driving the market include the rising prevalence of a number of chronic diseases and the unprecedented rise of the global population.
However, factors such as poor flexibility in pricing and an overall lack of favorable regulations are expected to restrain the market’s growth to a certain extent.The report segments the global medical equipment rental market on the basis of three criteria: device type, end-use industry, and geography.Of the key device types in the market, the segment of durable medical equipment obtained a leading position, accounting for 40% of the global market in 2013. This market segment is also expected to maintain its dominance and expand at a 5% CAGR over the report’s forecast period.Of the key end-use segments studied in the report for the global medical equipment rental market, the market segment of personal/homecare equipment held the largest share in the market.On the geographic front, the market in Europe held the largest share of market’s overall revenues in 2013, followed by North America.
The report states that the global market for medical equipment rental is highly fragmented and only a few large vendors dominate it. Companies such as Stryker Corporation, Apria Healthcare Group, Inc., Siemens Financial Services, Inc., and Hill-Rom Holdings, Inc., with their extensive geographical reach and product portfolios that cover multiple equipment categories, cater to numerous end-use segments. These companies also run successful businesses in developed as well as emerging markets.
Other prominent vendors in the global medical equipment rental market include Universal Hospital Services, Inc., US Med-Equip, Inc., Nunn’s Home Medical Equipment, Centric Health Corporation, Woodley Equipment Company Ltd., Port Huron Hospital Medical Equipment, Westside Medical Supply, Inc., and Walgreen Co.
With the help of detailed business profiles of some of the key vendors in the market, combined with a detailed analysis of recent development and business undertakings in the form of activities such as mergers and acquisitions, the report presents the readers with a detailed overview of the competitive landscape of the market. The report, therefore, makes for an excellent guidebook for industry stakeholders intending to develop effective business strategies and helps decision makers in taking informed decisions.
Global Medical Equipment Rental Market by Device Category:
- Durable Medical Equipment
- Surgical Equipment
- Personal/Home Care Equipment
- Electronic/Digital Equipment
- Storage and Transport
Global Medical Equipment Rental Market by End Users:
- Personal/Home Care Medical Equipment Rental
- Institutional Medical Equipment Rental
Major geographies analyzed under this research report are:
- North America
- Rest of the World
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Transparency Market Research (TMR) is a global market intelligence company providing business information reports and services. The company’s exclusive blend of quantitative forecasting and trend analysis provides forward-looking insight for thousands of decision makers. TMR’s experienced team of analysts, researchers, and consultants use proprietary data sources and various tools and techniques to gather and analyze information.
TMR’s data repository is continuously updated and revised by a team of research experts so that it always reflects the latest trends and information. With extensive research and analysis capabilities, Transparency Market Research employs rigorous primary and secondary research techniques to develop distinctive data sets and research material for business reports.
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