Durable Medical Equipment Rental Market

The global durable medical equipment rental market is projected to reach USD 35 billion by 2027 from USD 26 billion in 2022, at a CAGR of 5% during the forecast period. The durable medical equipment rental market is driven by the increasing number of disabled and senior populations and the rising need for short-term care without investing in the high costs of instruments and devices. This is coupled with technological advancements leading to early product obsolescence, which is one factor that encourages consumers and healthcare organizations to adopt D.M.E. rental services.

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However, minimal reimbursement coverage and a lack of a defined regulatory landscape in developed and developing countries are expected to restrain market growth.

As of 2021, major players operating in the durable medical equipment rental market are Hill-Rom Holdings, Inc. (U.S.), Stryker Corporation (U.S.), Getinge Ab (Sweden), Siemens Financial Services (Germany), Nunn’s Home Medical Equipment (U.S.), Westside Medical Supply (U.S.), Universal Hospital Services, Inc (U.S.), Woodley Equipment Company Ltd (U.K.), G.E. Healthcare (U.S.), C.N.Y Medical Products Inc. (U.S.), All American Medical Supply Corp. (U.S.), Homepro Medical Supplies, L.L.C. (U.S.), among others.

Research Methodology

The study involved four major activities in estimating the current durable medical equipment rental market size. Exhaustive secondary research was conducted to collect information on the market and its different subsegments. The next step was to validate these findings, assumptions, and sizing with industry experts across the value chain through primary research. Top-down and bottom-up approaches were employed to estimate the total market size. After that, market breakdown and data triangulation procedures were used to estimate the size of segments and subsegments.

Secondary Research

The secondary sources referred to in this research study include corporate filings (such as annual reports, S.E.C. filings, investor presentations, and financial statements); research journals; and press releases; trade, business, and professional associations. Secondary sources were used to identify and collect helpful information for this extensive and commercial study of the durable medical equipment rental market. Secondary research was mainly used to obtain critical information about the industry’s total pool of key players, market classification and segmentation according to industry trends to the bottom-most level, market trends, and necessary developments by both the public and private organizations in the durable medical equipment rental market.

The secondary sources for this research study include government, independent or public, paid/private, and research databases, among others. Secondary data was collected and analyzed to determine the overall market size of the durable medical equipment rental market, further validated by primary research. Some of the critical secondary sources referred to during the preparation of this report are listed below-

• Governmental and inter-governmental sources & databases such as World Health Organization (WHO), World Bank, Organisation for Economic Co-operation and Development (OECD), and Centers for Disease Control and Prevention (C.D.C.), among others.
• Business and research articles such as Springer Nature, The Lancet, PubMed, and the U.S. National Library of Medicine, among others.
• Company sources include annual reports, S.E.C. filings, regulatory filings, investor presentations, press releases, and financial statements.

Primary Research

Extensive primary research was conducted after acquiring knowledge about the durable medical equipment rental market scenario through secondary research. A significant number of primary interviews were driven by the demand (healthcare providers, long-term care centers, hospital laboratories, home care) and supply sides (suppliers and distributors of durable medical equipment). The primaries interviewed for this study include experts from the durable medical equipment industry (such as C.E.O.s, V.P.s, directors, sales heads, and marketing managers of tier 1, 2, and 3 companies engaged in offering durable medical equipment on rent across the globe) and administrators & purchase managers of hospitals and urgent care centers.

Around 65% and 35% of primary interviews were conducted from the supply and demand sides. A robust primary research methodology has been adopted to validate the report's contents and fill gaps. Telephonic and e-mail communications were adopted to conduct interviews (questionnaires were designed and sent to primary participants at their convenience).

The durable medical equipment rental market comprises several stakeholders, such as hospitals, ambulatory surgical centers, and long-term care facilities. Various primary sources from both the supply and demand sides of the market were interviewed to obtain qualitative and quantitative information.

Market Size Estimation

Both top-down and bottom-up approaches were used to estimate and validate the total size of the durable medical equipment rental market. These methods were also used extensively to estimate the size of various subsegments in the market. The research methodology used to estimate the market size includes the following:

• The key players in the industry and markets have been identified through extensive secondary research
• The industry’s supply chain and market size, in terms of value, have been determined through primary and secondary research
• All percentage shares split, and breakdowns have been determined using secondary sources and verified through primary sources

Data Triangulation

After arriving at the overall market size—using the market size estimation processes as explained above—the durable medical equipment rental market was split into several segments and subsegments. To complete the overall market engineering process and arrive at the exact statistics of each market segment and subsegment, data triangulation and market breakdown procedures were employed, wherever applicable. The data was triangulated by studying various factors and trends from both the demand and supply sides in the durable medical equipment rental industry.

Report Objectives

• To define, describe, and forecast the durable medical equipment rental market by product, application type, end-user, and region
• To provide detailed information about significant factors influencing the market growth (key drivers, restraints, opportunities, and industry-specific challenges)
• To strategically analyze micromarkets1 concerning individual growth trends, prospects, and their contributions to the overall durable medical equipment rental market
• To analyze market opportunities for stakeholders and provide details of the competitive landscape for key players
• To forecast the market value of various segments and sub-segments concerning five main regions, namely, North America, Europe, Asia Pacific, Latin America, and the Middle East & Africa
• To profile the key players active in the durable medical equipment rental market and comprehensively analyze their global revenue shares and core competencies
• To track and analyze competitive market-specific developments such as product approvals & commercialization, agreements, partnerships, collaborations, acquisitions, and expansions in the cardiac marker testing market

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Scope of the Report

This research report categorizes the durable medical equipment rental market based on product, biomarker type, disease, end user, and region

By Product

• Wheelchairs
• Scooters
• Walker and Rollators
• Cranes and Crutches
• Door Openers
• Commodes and Toilets
• Mattress & Bedding Devices
• Blood glucose monitors
• Continuous passive motion (C.P.M.) devices
• Infusion pumps
• Nebulizers
• Oxygen equipment
• Continuous Positive Airway Pressure (CPAP) devices
• Suction pumps
• Traction equipment
• Others equipment

By Application

• Personal mobility devices
• Bathroom safety and medical furniture
• Monitoring and therapeutic devices

By End User

• Hospitals & surgical centers
• Ambulatory surgical centers
• Long-term care centers
• Home care

By Region

• North America
  • US
  • Canada
• Europe
  • Germany
  • UK
  • France
  • Italy
  • Spain
  • RoE
• Asia Pacific
  • Japan
  • China
  • India
  • South Korea
  • Australia
  • RoAPAC
• Latin America
• Middle East and Africa

Available Customizations

With the given market data, MarketsandMarkets offers customizations per the company’s specific needs. The following customization options are available for the durable medical equipment rental market report:

PRODUCT ANALYSIS

• Product Matrix, which gives a detailed comparison of the product portfolios of the top five global players

PRODUCT ANALYSIS

• Further breakdown of the Rest of Europe durable medical equipment rental market into Russia, Portugal, Belgium, Denmark, Switzerland, and other European countries (aggregated)

COMPANY INFORMATION

• Detailed analysis and profiling of additional market players (up to 5 O.E.M.s)

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