Medical Equipment Rental Market Size & Share Analysis - Growth Trends And Forecast (2024 - 2031)

• North America leads market share—accounting for over 32% of global revenue in 2022, driven by advanced healthcare infrastructure and high demand for rental services in hospitals and home care settings.

• Durable medical equipment (DME) dominates&mdash>with segments like patient monitoring devices, mobility aids, and respiratory equipment seeing significant adoption due to aging populations and rising chronic disease prevalence.

• Home healthcare is a key growth driver&mdash>as patients prefer receiving care at home, leading to increased demand for rental equipment such as oxygen concentrators and mobility devices.

• Technological advancements enhance offerings&mdash>the integration of AI and IoT in medical devices allows for real-time monitoring and predictive maintenance, improving patient outcomes and equipment reliability.

• Hospitals remain the largest end-users&mdash>accounting for approximately 41% of the market share, hospitals continue to be the primary consumers of rented medical equipment due to high patient volumes and the need for specialized devices.

• Asia-Pacific shows rapid growth potential&mdash>projected to expand at a CAGR of 6.3% from 2023 to 2033, driven by increasing healthcare investments and a large patient base in countries like India and China.

• Financial flexibility through rental models&mdash>renting medical equipment offers healthcare providers cost-effective access to advanced technologies without the financial burden of ownership, facilitating better resource allocation.

In this report, Medical Equipment Rental Market has been segmented by Type, End User, and Geography.

Medical Equipment Rental Market, Segmentation by Type

The market for medical equipment rental is segmented into several types of equipment, each serving different healthcare needs. These segments cater to various healthcare facilities and home care services. Durable medical equipment is the most widely rented, driven by increasing demand for long-term care solutions. Electronic medical equipment is growing rapidly due to the integration of advanced technologies in healthcare, enhancing patient care. Rental services allow healthcare providers to manage costs effectively, especially for high-value equipment.

Durable Medical Equipment

This category includes long-term use equipment like wheelchairs, hospital beds, and oxygen equipment. The demand for these items is driven by the growing elderly population and the rise in chronic diseases. Rental services in this segment offer flexibility to healthcare facilities and patients by providing high-quality equipment without the upfront cost.

Electronic Medical Equipment

As technology becomes more integrated into healthcare, the demand for electronic medical equipment such as monitors, defibrillators, and imaging devices is increasing. This growth is supported by the need for precise, data-driven diagnostics. Rentals of these expensive devices are often preferred by healthcare institutions due to their high cost and rapid technological advancements.

Storage & Transport Equipment

Storage and transport equipment such as patient lifts and medical carts are also critical in the healthcare setting. As healthcare facilities strive for more efficient operations, these types of equipment are increasingly rented to reduce maintenance costs and avoid large capital expenditures.

Others

This category includes less common, but still essential, medical equipment. This may range from specialty devices to custom items for particular treatments. Rentals provide a practical solution for medical establishments that require occasional access to specialized equipment.

Medical Equipment Rental Market, Segmentation by End User

The end users of medical equipment rental services include home care providers, hospitals, and others. Home care services are experiencing significant growth, driven by the preference for in-home care among patients with chronic conditions. Hospitals are the largest end users due to their need for various medical devices for patient treatment. Other sectors, such as clinics and outpatient services, also rely on rentals for specific needs, reducing their capital expenses while improving patient care.

Home Care

The home care segment is growing rapidly, driven by the aging population and the preference for patients to receive care at home. This segment rents durable medical equipment such as oxygen concentrators and mobility aids. The cost-effective nature of rentals helps families afford necessary care, while healthcare providers can maintain equipment without major investments.

Hospitals

Hospitals are the largest consumers of medical equipment rentals. They use a wide variety of equipment for both short-term and long-term patient care. Rental services allow hospitals to manage their equipment needs efficiently, particularly for expensive devices such as ventilators and imaging systems, while reducing the burden of maintenance costs.

Others

This category includes outpatient centers, clinics, and specialty healthcare facilities that rent equipment for specific patient needs. These smaller establishments often prefer rentals due to limited budgets and the high costs of purchasing and maintaining equipment.

Medical Equipment Rental Market, Segmentation by Geography

In this report, Medical Equipment Rental Market has been segmented by Geography into five regions: North America, Europe, Asia Pacific, Middle East and Africa, and Latin America.

North America

North America is the largest market for medical equipment rentals, with the U.S. leading in both hospital and home care rentals. The increasing healthcare expenditure and aging population in the region drive growth. The preference for at-home care services further fuels the demand for durable medical equipment and electronic devices, including rental options.

Europe

Europe is another significant market for medical equipment rentals, particularly in countries like Germany and the U.K. The region is seeing growth due to the increasing number of elderly patients and the rising demand for cost-effective healthcare solutions. The rental market is supported by advancements in telemedicine and patient care technologies, which often require temporary access to specialized equipment.

Asia Pacific

Asia Pacific shows strong growth potential, especially in countries like China and India, where healthcare infrastructure is rapidly expanding. The need for affordable medical equipment rental options in both urban and rural settings is driving market expansion. As the region's population grows and ages, the demand for home healthcare and medical device rentals is expected to rise significantly.

Middle East and Africa

The Middle East and Africa present a growing market for medical equipment rentals, driven by expanding healthcare systems in regions such as the UAE and South Africa. However, challenges such as political instability and economic factors can hinder rapid market growth. Despite these challenges, demand for medical devices in hospitals and clinics remains strong.

Latin America

Latin America is experiencing steady growth in the medical equipment rental market, with Brazil and Mexico being the key players. The growing demand for healthcare services, particularly for chronic disease management, is driving the need for both durable and electronic medical equipment. The market is also supported by initiatives to improve healthcare accessibility across the region.

Medical Equipment Rental Market is becoming increasingly competitive as service providers adopt targeted strategies to improve affordability, accessibility, and quality of healthcare devices. Leading companies are driving innovation in rental platforms, maintenance services, and flexible contracts, while strengthening collaboration with hospitals and homecare providers. Market growth is further supported by long-term rental partnerships.

Market Structure and Concentration
The market shows moderate concentration, with major providers holding nearly 55% to 60% share. Their strategies in equipment availability, servicing capabilities, and innovation secure leadership. Meanwhile, regional players are fueling expansion through cost-effective offerings and localized collaboration, creating a diverse and adaptive competitive environment.

Brand and Channel Strategies
Providers are deploying integrated strategies to strengthen brand positioning across hospitals, clinics, and homecare segments. Nearly 44% of rentals are facilitated through direct hospital contracts, while distributor partnerships and digital platform collaboration are expanding. Ongoing innovation in service models and device upgrades continues to support consistent growth.

Innovation Drivers and Technological Advancements
Major technological advancements in connected devices, telehealth integration, and predictive maintenance are fueling innovation. Around 50% of providers are investing in R&D strategies to improve equipment reliability and patient care outcomes. Strong collaboration with healthcare institutions and cross-sector partnerships reinforces sustainable growth.

Regional Momentum and Expansion
North America accounts for nearly 42% share, driven by high demand for advanced medical expansion and flexible rental services. Europe emphasizes compliance-driven strategies and service innovation, while Asia-Pacific demonstrates rapid expansion fueled by rising healthcare infrastructure. Regional collaboration and hospital partnerships remain critical for scaling competitiveness.

Future Outlook
The competitive future will be shaped by digital service innovation, affordability-focused strategies, and stronger provider collaboration. With nearly 51% of companies planning expansion into IoT-enabled rentals and flexible subscription-based models, competition is expected to intensify. Long-term growth will depend on adaptive partnerships, sustainable rental solutions, and evolving healthcare needs.

Key players in Medical Equipment Rental Market include:

• Medtronic plc
• Siemens Healthineers
• GE Healthcare
• Agiliti Health
• Hill-Rom Holdings Inc.
• Stryker Corporation
• US Med-Equip, Inc.
• Avante Health Solutions
• ArjoHuntleigh
• Universal Hospital Services
• Woodley Equipment Company Ltd.
• Westside Medical Supply, Inc.
• Nunn’s Home Medical Equipment
• Walgreen Co.
• Centric Health Corporation

In this report, the profile of each market player provides following information:

• Market Share Analysis
• Company Overview and Product Portfolio
• Key Developments
• Financial Overview
• Strategies
• Company SWOT Analysis