The increasing demand for home care equipment and facilities and the high cost associated with it are the key factors boosting the growth of the global durable medical equipment rental market.
The increasing demand for home care equipment and facilities and the high cost associated with it are the key factors boosting the growth of the global durable medical equipment rental market. The high cost of healthcare equipment and the need to curb to the overall medical expenses will also add impetus to the overall growth of the global durable medical equipment rental market.
The global durable medical equipment rental market is classified on the basis of application, end-use and regions. Based on classification by application, the market is categorized into monitoring and therapeutic devices, bathroom safety and medical furniture, and personal mobility devices. With respect to categorization by end-use, the market is grouped into hospitals, institutes and laboratories, and personal or homecare.
The report on the global durable medical equipment is based on a thorough analysis of the market and throws light on various growth parameters such as recent innovations and trends. The report also focuses on the table of segmentation and mentions the leading segment with its attributed factors. Additionally, the report lists the names of players functioning in this report and their major contributions to the overall market in terms of recent trends and innovations. The report is available on the company website for sale.
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Durable Medical Equipment Rental Market: Company Profile
Players of this market are focusing on expanding their geographical reach and attracting more revenues. Besides this, they are also emphasizing on collaborative agreements and joint ventures to reach for the upper hand in the overall market competition. The presence of a large target population is likely to witness lucrative growth opportunities during the forecast period.
Some of the notable players of the global durable medical equipment rental market include:
- All American Medical Supply Corp.
- GE Healthcare
- Universal Hospital Services Inc.
- Nunn’s Home Medical Equipment
- Getinge Ab
- Stryker Corporation
- Homepro Medical Supplies LLC
- C.N.Y. Medical Supply Corp.
- Woodley Equipment Company Ltd.
- Westside Medical Supply
- Hill-Rom Holdings Inc.
- Siemens Financial Services Inc.
- Others
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Durable Medical Equipment Rental Market: Drivers and Restraints
The increasing geriatric population coupled with their vulnerability to various chronic and acute diseases stands as a key factor augmenting the growth of the global durable medical equipment rental market. Apart from this, the rising need for long-term medical care and personal safety and mobility device is also projected to promote the growth of this market during the forecast period. Rental services are considered more practical and economical as compared to purchasing medical equipment of sky-rocketing costs. The increasing adoption of technological advancements at a rapid rates, coupled with the increasing support from healthcare organizations and increasing disposable incomes of people with their growing willingness to spend on reasonable medical expenses will help this market earn significant revenues in the coming years.
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Durable Medical Equipment Rental Market: Regional Analysis
Geographically, the global durable medical equipment market is dominated by North America. This is accountable to the rising geriatric population, coupled with the rising prevalence of lifestyle-related diseases. On the other side, the market in Asia Pacific is likely to witness notable growth in the coming years on account of increasing expansion of the overall medical equipment and healthcare sector especially in the developing nations.
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