Durable Medical Equipment Rental Market - Global Industry, Analysis, Size, Share, Trends, and Forecasts 2020 - 2030

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Durable Medical Equipment Rental Market - Global Industry, Analysis, Size, Share, Trends, and Forecasts 2020 - 2030

Status : March, 2023 | Medical Devices

Report Digest

Durable Medical Equipment Rental Market: Overview

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.

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

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.

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.

The reports at TMR Research provide qualitative solutions that break the barriers of doubt or uncertainties when the stakeholders plan to expand their growth reach. The researchers compile the necessary information that enlightens the CXOs about the current growth opportunities in a specific market and enables them to make the most of the opportunities.

TMR Research is a leader in developing well-researched reports. The expertise of the researchers at TMR Research makes the report stand out from others. TMR Research reports help the stakeholders and CXOs make impactful decisions through a unique blend of innovation and analytical thinking. The use of innovation and analytical thinking while structuring a report assures complete and ideal information of the current status of the market to the stakeholders.

TMR Research has rich experience in developing state-of-the-art reports for a wide array of markets and sectors. The brilliance of the experts at TMR Research and their alacrity to conduct thorough research and create phenomenal reports makes TMR Research better than others.

5-Point Growth Formula

The 5-point growth formula developed by TMR Research provides an insight to the stakeholders and CXOs about the current situation in the market. The growth formula makes the report a perfect companion for the stakeholders and CXOs.

The 5-point growth formula includes the following points:

  • Current and Future Threats
  • Accurate Trend Analysis
  • Regional Assessment
  • Industrial Analogy
  • COVID-19 Impact

Current and Future Threats

Along with studying the opportunities necessary for growth, threats are also an important aspect to look upon for the companies and stakeholders in a specific sector. TMR Research studies every negative aspect that will hinder the growth of a specific area of business and includes it in the report. The stakeholders and CXOs will have the benefit of assessing the threat and take the necessary steps to prevent the hindrance caused due to the threats.

Accurate Trend Analysis

Keeping up with the latest trends is crucial in any business or sector. While stakeholders are aware of the trends that are on the surface, TMR Researchers find trends that are deeply entrenched in the particular market or sector. The reports are constantly updated with the latest trends so that the stakeholders and CXOs can derive benefits from the trends and generate good revenues.

Regional Assessment

Demography forms an important part of the growth pattern of all the markets. Diving deep into the demographics enables maximum output from specific areas. The TMR Research team assesses every region and picks out the vital points that have a large impact on the growth of a market.

Industrial Analogy

The analysts at TMR Research conduct an all-round analysis on the competitive landscape of the market. The observations recorded by the analysts are added to the reports so that every stakeholder gets a glimpse of the competitive scenario and frame their business plans according to the situation.

COVID-19 Impact

The COVID-19 outbreak has changed the growth projections of numerous sectors and businesses. The analysts at TMR Research have conducted a conscientious survey on the markets after the pandemic struck. The analysts have put forth their brilliant and well-researched opinions in the report. The opinions will help the stakeholders to plan their strategy accordingly.

The reports offer answers to the top 7 questions that revolve around the growth of the market

  • What are the diverse growth parameters influencing the market?
  • Which regions will contribute largely to the growth of the market
  • What are the recent innovations and technological advancements in the market?
  • What are the emerging trends across the market?
  • How has COVID-19 affected the market?
  • What will be the post-pandemic scenario of the market?
  • What are the major threats that will dent the growth prospects of the market?