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LOS ANGELES, February 23, 2019 (GLOBE NEWSWIRE) – The global medical equipment rental market The size is expected to reach about 65.4 billion USD by 2026, this market is expected to grow with a CAGR of 4.5% over the forecast period.
The growing base of the geriatric and disabled population, combined with the growing demand for home-grown drugs is pushing the market.
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The growing need for clinically advanced clinical gadgets and the increasing use of health care expenditures reinforce R & D exercises in the medical device industry entail the sending of costly variations of medical devices. # 39; medicated items. This should have a significant impact on the development of the catering equipment rental market.
The strength of robust therapeutic equipment (EMR) can be attributed to improving the reception of individual portability and the help provided by people with disabilities. Similarly, the growing need for surveillance and therapeutic instruments due to the increasing number of patients and the constant technological upgrading of these gadgets encourages the development of the EMR rental market.
The rise of financial services for the rental of health care equipment in recent years has become a refuge for institutes, hospitals and other health care providers. In addition, leasing equipment provides end customers with cost savings, as it reduces ownership costs and allows these customers to receive powered product modules.
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Growing concerns about taking palliative care into account, along with the administrative changes for the equivalent, are ready to develop the market. Administrative changes or projects received by hospitals on a palliative basis are generating increased interest in rental equipment.
The global medical equipment rental market is segmented into product, end-user and region. On a product-by-product basis, the global medical equipment rental market is segmented into surgical equipment, durable medical equipment, and storage and transportation. Durable medical equipment is divided into two: mobility devices, bathroom security and medical furniture, and monitoring and treatment devices. Based on the end user, the global market for medical equipment rental is segmented into personal care / home, institutional and hospital. On a regional basis, the global medical equipment rental market is split between Europe, Latin America, North America, the Middle East and Africa and the Asia-Pacific region.
North America has submerged the market in 2018 and must continue to dominate until 2025. The presence of a large number of service providers and the significant need for technically progressive products accelerate the development of the market. regional market for the rental of medical equipment. The region is facing additional expense issues for the purchase of the latest device or therapeutic equipment, which can be solved by renting equipment.
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The region was followed by Europe in 2018 in terms of turnover. The increasing frequency of chronic diseases, such as Parkinson's disease, Huntington's disease and atherosclerosis, the expansion of home health care and the rapid development of the geriatric population are giving a boost to the European market. In addition, educational institutions and research laboratories are planning to reduce operating and acquisition costs, which will encourage greater ownership of all-inclusive rental equipment.
The Asia-Pacific region is expected to have the most astounding CAGR in the next few years. The increase of the geriatric population base and the development of stable government activities for the creation of economies are essential development factors for the development of the regional market.
The main players in the global medical equipment rental market are Woodley Equipment Company Ltd., Hill-Rom Holdings, Inc., Westside Medical Supply, Nunn's Home Medical Equipment, Universal Hospital Services, Inc. and Siemens Financial Services, Inc.
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