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Durable Medical Equipment Rental Market Size, Share & Trends Analysis Report By Application, By End-use (Personal/Home Care, Institutes & Laboratories, Hospitals), By Region, And Segment Forecasts, 2021 - 2028

April 2021 | 187 pages | ID: DAF20898A78FEN
Grand View Research, Inc.

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Durable Medical Equipment Rental Market Growth & Trends

The global durable medical equipment rental market size is expected to reach USD 35.4 billion by 2028, according to a new report by Grand View Research, Inc. The market is expected to expand at a CAGR of 4.8% from 2021 to 2028. The growth is attributable to financial benefits offered by renting durable medical equipment (DME) as it aids in bridging the gap between capital availability and clinical needs. Moreover, before buying, renting DME helps in determining whether or not they are a suitable fit.

The COVID-19 pandemic has disrupted the supply chains of various medical devices. The shelter-in-place mandates have led to a shortage in the workforce across the supply chain industry. However, there has been a sudden surge in the demand for respiratory equipment owing to the ongoing coronavirus pandemic. The DME rental players are fulfilling these demands for hospitals as well as home care patients. Looking at the short-term necessity of these products, and to boost sales, various local manufacturers have come up with a marketing strategy that involves renting out this equipment. Therefore, the market for DME rental is projected to grow with a lucrative CAGR during the pandemic crisis.

The rising number of people with disabilities across the globe is boosting the demand for wheelchairs, crutches, walkers, and other such personal mobility equipment and aids. This, in turn, boosts the demand for DME rental. According to the WHO, more than a billion people have some form of disability in the world that accounts for around 15% of the global population. Also, there is a rapid increase in the number of people with disabilities owing to rising chronic health conditions and demographic trends. For instance, over 54 million adults have arthritis in the US according to a study by the CDC. This number is projected to cross 78 million by 2040.

The market is also driven by the growing demand for therapeutic and monitoring equipment. This demand is attributable to improving healthcare infrastructure across the globe coupled with continuous technological advancements in durable medical equipment. Renting advanced durable medical equipment helps in keeping up with the changing technology in a cost-effective manner. Moreover, people who need mobility equipment temporarily mostly prefer renting.

The rise of financial services for renting DME has been beneficial for various end-users such as hospitals, institutes & laboratories, as well as home care. Moreover, renting equipment confers cost benefits to end-users, as it reduces ownership costs and in turn allows these players to adopt advanced product modules. Medical equipment insurers typically cover around 50% to 80% of the overall cost of durable medical equipment such as a wheelchair. The maintenance and insurance are taken care of by the provider. This, in turn, reduces the risk for end-user and augments the growth of the market.

Durable Medical Equipment Rental Market Report Highlights
  • The bathroom safety and medical furniture segment accounted for the largest revenue share of 56.4% in 2020 owing to growing technological innovations in such medical equipment
  • The hospitals’ segment accounted for the largest revenue share of 59.2% in 2020 owing to huge patient footfall in comparison to laboratories and institutes coupled with growing need to keep up with technological advancements
  • North America contributed for the largest revenue share of 32.5% owing to the presence of dominant market players, high healthcare expenditure, and high adoption rate for advanced medical technologies
CHAPTER 1. METHODOLOGY AND SCOPE

1.1. Market segmentation & scope
1.2. Information procurement
  1.2.1. Purchased database
  1.2.2. GVR’s internal database
  1.2.3. Secondary sources & third-party perspectives
  1.2.4. Primary research
1.3. Information analysis
  1.3.1. Data analysis models
1.4. Market formulation & data visualization
1.5. Data validation & publishing

CHAPTER 2. EXECUTIVE SUMMARY

2.1. Market outlook
2.2. Segment outlook
2.3. Competitive insights

CHAPTER 3. DME RENTAL MARKET VARIABLES, TRENDS & SCOPE

3.1. Market lineage outlook
  3.1.1. Parent market outlook
  3.1.2. Related/ancillary market outlook
3.2. Penetration & growth prospect mapping
3.3. Market dynamics
  3.3.1. Market driver analysis
  3.3.2. Market restraint analysis
3.4. DME rental: market analysis tools
  3.4.1. Industry analysis - Porter’s
    3.4.1.1. Supplier power:
    3.4.1.2. Buyer power
    3.4.1.3. Substitution threat
    3.4.1.4. Threat from new entrant:
    3.4.1.5. Competitive rivalry:
  3.4.2. PESTEL analysis
    3.4.2.1. Political & legal landscape
    3.4.2.2. Economic landscape
    3.4.2.3. Social & technology landscape
  3.4.3. Major deals & strategic alliances analysis

CHAPTER 4. DME RENTAL MARKET: SEGMENT ANALYSIS, BY APPLICATION, 2016 - 2028 (USD BILLION)

4.1. Application market share analysis, 2020 & 2028
4.2. Segment dashboard
4.3. Market size & forecasts and trend analyses, 2016 to 2028 for the following
  4.3.1. Personal Mobility Devices
  4.3.2. Bathroom Safety and Medical Furniture
  4.3.3. Monitoring and Therapeutic Devices

CHAPTER 5. DME RENTAL MARKET: SEGMENT ANALYSIS, BY END USE, 2016 - 2028 (USD BILLION)

5.1. End-use market share analysis, 2020 & 2028
5.2. Segment dashboard
5.3. Market size & forecasts and trend analyses, 2016 to 2028 for the following
  5.3.1. Personal/Home care
  5.3.2. Institutes and laboratories
  5.3.3. Hospitals

CHAPTER 6. DME RENTAL MARKET: REGIONAL MARKET ANALYSIS, 2016 - 2028 (USD BILLION)

6.1. Regional market share analysis, 2020 & 2028
6.2. Regional market dashboard
6.3. Market size, & forecasts, and trend analysis, 2016 to 2028:
6.4. North America
  6.4.1. Market estimates and forecast, by country, 2016 - 2028 (USD Billion)
  6.4.2. Market estimates and forecast, by application, 2016 - 2028 (USD Billion)
  6.4.3. Market estimates and forecast, by end use, 2016 - 2028 (USD Billion)
  6.4.4. U.S.
    6.4.4.1. Market estimates and forecast, by application, 2016 - 2028 (USD Billion)
    6.4.4.2. Market estimates and forecast, by end use, 2016 - 2028 (USD Billion)
  6.4.5. Canada
    6.4.5.1. Market estimates and forecast, by application, 2016 - 2028 (USD Billion)
    6.4.5.2. Market estimates and forecast, by end use, 2016 - 2028 (USD Billion)
6.5. Europe
  6.5.1. Market estimates and forecast, by country, 2016 - 2028 (USD Billion)
  6.5.2. Market estimates and forecast, by application, 2016 - 2028 (USD Billion)
  6.5.3. Market estimates and forecast, by end use, 2016 - 2028 (USD Billion)
  6.5.4. Germany
    6.5.4.1. Market estimates and forecast, by application, 2016 - 2028 (USD Billion)
    6.5.4.2. Market estimates and forecast, by end use, 2016 - 2028 (USD Billion)
  6.5.5. U.K.
    6.5.5.1. Market estimates and forecast, by application, 2016 - 2028 (USD Billion)
    6.5.5.2. Market estimates and forecast, by end use, 2016 - 2028 (USD Billion)
  6.5.6. France
    6.5.6.1. Market estimates and forecast, by application, 2016 - 2028 (USD Billion)
    6.5.6.2. Market estimates and forecast, by end use, 2016 - 2028 (USD Billion)
  6.5.7. Italy
    6.5.7.1. Market estimates and forecast, by application, 2016 - 2028 (USD Billion)
    6.5.7.2. Market estimates and forecast, by end use, 2016 - 2028 (USD Billion)
  6.5.8. Spain
    6.5.8.1. Market estimates and forecast, by application, 2016 - 2028 (USD Billion)
    6.5.8.2. Market estimates and forecast, by end use, 2016 - 2028 (USD Billion)
6.6. Asia Pacific
  6.6.1. Market estimates and forecast, by country, 2016 - 2028 (USD Billion)
  6.6.2. Market estimates and forecast, by application, 2016 - 2028 (USD Billion)
  6.6.3. Market estimates and forecast, by end use, 2016 - 2028 (USD Billion)
  6.6.4. China
    6.6.4.1. Market estimates and forecast, by application, 2016 - 2028 (USD Billion)
    6.6.4.2. Market estimates and forecast, by end use, 2016 - 2028 (USD Billion)
  6.6.5. Japan
    6.6.5.1. Market estimates and forecast, by application, 2016 - 2028 (USD Billion)
    6.6.5.2. Market estimates and forecast, by end use, 2016 - 2028 (USD Billion)
  6.6.6. India
    6.6.6.1. Market estimates and forecast, by application, 2016 - 2028 (USD Billion)
    6.6.6.2. Market estimates and forecast, by end use, 2016 - 2028 (USD Billion)
  6.6.7. South Korea
    6.6.7.1. Market estimates and forecast, by application, 2016 - 2028 (USD Billion)
    6.6.7.2. Market estimates and forecast, by end use, 2016 - 2028 (USD Billion)
  6.6.8. Australia
    6.6.8.1. Market estimates and forecast, by application, 2016 - 2028 (USD Billion)
    6.6.8.2. Market estimates and forecast, by end use, 2016 - 2028 (USD Billion)
6.7. Latin America
  6.7.1. Market estimates and forecast, by country, 2016 - 2028 (USD Billion)
  6.7.2. Market estimates and forecast, by application, 2016 - 2028 (USD Billion)
  6.7.3. Market estimates and forecast, by end use, 2016 - 2028 (USD Billion)
  6.7.4. Brazil
    6.7.4.1. Market estimates and forecast, by application, 2016 - 2028 (USD Billion)
    6.7.4.2. Market estimates and forecast, by end use, 2016 - 2028 (USD Billion)
  6.7.5. Mexico
    6.7.5.1. Market estimates and forecast, by application, 2016 - 2028 (USD Billion)
    6.7.5.2. Market estimates and forecast, by end use, 2016 - 2028 (USD Billion)
6.8. Middle East and Africa
  6.8.1. Market estimates and forecast, by country, 2016 - 2028 (USD Billion)
  6.8.2. Market estimates and forecast, by application, 2016 - 2028 (USD Billion)
  6.8.3. Market estimates and forecast, by end use, 2016 - 2028 (USD Billion)
  6.8.4. South Africa
    6.8.4.1. Market estimates and forecast, by application, 2016 - 2028 (USD Billion)
    6.8.4.2. Market estimates and forecast, by end use, 2016 - 2028 (USD Billion)
  6.8.5. UAE
    6.8.5.1. Market estimates and forecast, by application, 2016 - 2028 (USD Billion)
    6.8.5.2. Market estimates and forecast, by end use, 2016 - 2028 (USD Billion)

CHAPTER 7. DME RENTAL MARKET - COMPETITIVE ANALYSIS

7.1. Key companies profiled
  7.1.1. Hill-Rom Holdings, Inc.
    7.1.1.1. Company overview
    7.1.1.2. Financial performance
    7.1.1.3. Product benchmarking
    7.1.1.4. Strategic initiatives
  7.1.2. Stryker Corporation
    7.1.2.1. Company overview
    7.1.2.2. Financial performance
    7.1.2.3. Product benchmarking
    7.1.2.4. Strategic initiatives
  7.1.3. Getinge Ab.
    7.1.3.1. Company overview
    7.1.3.2. Product benchmarking
    7.1.3.3. Strategic initiatives
  7.1.4. Siemens Financial Services, Inc
    7.1.4.1. Company overview
    7.1.4.2. Financial performance
    7.1.4.3. Product benchmarking
    7.1.4.4. Strategic initiatives
  7.1.5. Nunn’s Home Medical Equipment
    7.1.5.1. Company overview
    7.1.5.2. Product benchmarking
    7.1.5.3. Strategic initiatives
  7.1.6. Westside Medical Supply
    7.1.6.1. Company overview
    7.1.6.2. Product benchmarking
    7.1.6.3. Strategic initiatives
  7.1.7. Universal Hospital Services, Inc
    7.1.7.1. Company overview
    7.1.7.2. Product benchmarking
    7.1.7.3. Strategic initiatives
  7.1.8. Woodley Equipment Company Ltd
    7.1.8.1. Company overview
    7.1.8.2. Product benchmarking
    7.1.8.3. Strategic initiatives
  7.1.9. GE Healthcare
    7.1.9.1. Company overview
    7.1.9.2. Financial performance
    7.1.9.3. Product benchmarking
    7.1.9.4. Strategic initiatives
  7.1.10. C.N.Y Medical Products Inc
    7.1.10.1. Company overview
    7.1.10.2. Product Benchmarking
    7.1.10.3. Strategic initiatives
  7.1.11. All American Medical Supply Corp
    7.1.11.1. Company overview
    7.1.11.2. Product benchmarking
    7.1.11.3. Strategic initiatives
  7.1.12. Homepro Medical Supplies, LLC
    7.1.12.1. Company overview
    7.1.12.2. Product benchmarking
    7.1.12.3. Strategic initiatives
LIST OF TABLES

Table 1 North America DME rental market, by application, 2016 - 2028 (USD Billion)
Table 2 North America DME rental market, by end use, 2016 - 2028 (USD Billion)
Table 3 U.S. DME rental market, by application, 2016 - 2028 (USD Billion)
Table 4 U.S. DME rental market, by end use, 2016 - 2028 (USD Billion)
Table 5 Canada DME rental market, by application, 2016 - 2028 (USD Billion)
Table 6 Canada DME rental market, by end use, 2016 - 2028 (USD Billion)
Table 7 Europe DME rental market, by application, 2016 - 2028 (USD Billion)
Table 8 Europe DME rental market, by end use, 2016 - 2028 (USD Billion)
Table 9 U.K. DME rental market, by application, 2016 - 2028 (USD Billion)
Table 10 U.K. DME rental market, by end use, 2016 - 2028 (USD Billion)
Table 11 Germany DME rental market, by application, 2016 - 2028 (USD Billion)
Table 12 Germany DME rental market, by end use, 2016 - 2028 (USD Billion)
Table 13 France DME rental market, by application, 2016 - 2028 (USD Billion)
Table 14 France DME rental market, by end use, 2016 - 2028 (USD Billion)
Table 15 Italy DME rental market, by application, 2016 - 2028 (USD Billion)
Table 16 Italy DME rental market, by end use, 2016 - 2028 (USD Billion)
Table 17 Spain DME rental market, by application, 2016 - 2028 (USD Billion)
Table 18 Spain DME rental market, by end use, 2016 - 2028 (USD Billion)
Table 19 Asia Pacific DME rental market, by application, 2016 - 2028 (USD Billion)
Table 20 Asia Pacific DME rental market, by end use, 2016 - 2028 (USD Billion)
Table 21 Japan DME rental market, by application, 2016 - 2028 (USD Billion)
Table 22 Japan DME rental market, by end use, 2016 - 2028 (USD Billion)
Table 23 China DME rental market, by application, 2016 - 2028 (USD Billion)
Table 24 China DME rental market, by end use, 2016 - 2028 (USD Billion)
Table 25 India DME rental market, by application, 2016 - 2028 (USD Billion)
Table 26 India DME rental market, by end use, 2016 - 2028 (USD Billion)
Table 27 Australia DME rental market, by application, 2016 - 2028 (USD Billion)
Table 28 Australia DME rental market, by end use, 2016 - 2028 (USD Billion)
Table 29 South Korea DME rental market, by application, 2016 - 2028 (USD Billion)
Table 30 South Korea DME rental market, by end use, 2016 - 2028 (USD Billion)
Table 31 Latin America DME rental market, by application, 2016 - 2028 (USD Billion)
Table 32 Latin America DME rental market, by end use, 2016 - 2028 (USD Billion)
Table 33 Brazil DME rental market, by application, 2016 - 2028 (USD Billion)
Table 34 Brazil DME rental market, by end use, 2016 - 2028 (USD Billion)
Table 35 Mexico DME rental market, by application, 2016 - 2028 (USD Billion)
Table 36 Mexico DME rental market, by end use, 2016 - 2028 (USD Billion)
Table 37 MEA DME rental market, by application, 2016 - 2028 (USD Billion)
Table 38 MEA DME rental market, by end use, 2016 - 2028 (USD Billion)
Table 39 South Africa DME rental market, by application, 2016 - 2028 (USD Billion)
Table 40 South Africa DME rental market, by end use, 2016 - 2028 (USD Billion)
Table 41 UAE DME rental market, by application, 2016 - 2028 (USD Billion)
Table 42 UAE DME rental market, by end use, 2016 - 2028 (USD Billion)
LIST OF FIGURES

Figure 1 Market research process
Figure 2 Information procurement
Figure 3 Primary research pattern
Figure 4 Market research approaches
Figure 5 Value chain-based sizing & forecasting
Figure 6 QFD modelling for market share assessment
Figure 7 Market formulation & validation
Figure 8 DME rental market segmentation
Figure 9 Market driver relevance analysis (Current & future impact)
Figure 10 Market restraint relevance analysis (Current & future impact)
Figure 11 Penetration & growth prospect mapping
Figure 12 SWOT analysis, by factor (political & legal, economic and technological)
Figure 13 Porter’s five forces analysis
Figure 14 DME rental market: application segment analysis
Figure 15 DME rental market: end-use segment analysis
Figure 16 Regional marketplace: Key takeaways
Figure 17 Regional outlook, 2020 & 2028
Figure 18 North America DME rental market, 2016 - 2028 (USD Billion)
Figure 19 U.S. DME rental market, 2016 - 2028 (USD Billion)
Figure 20 Canada DME rental market, 2016 - 2028 (USD Billion))
Figure 21 Europe DME rental market, 2016 - 2028 (USD Billion)
Figure 22 U.K. DME rental market, 2016 - 2028 (USD Billion)
Figure 23 Germany DME rental market, 2016 - 2028 (USD Billion)
Figure 24 Italy DME rental market, 2016 - 2028 (USD Billion)
Figure 25 Spain DME rental market, 2016 - 2028 (USD Billion)
Figure 26 France DME rental market, 2016 - 2028 (USD Billion)
Figure 27 Asia Pacific DME rental market, 2016 - 2028 (USD Billion)
Figure 28 Japan DME rental market, 2016 - 2028 (USD Billion)
Figure 29 China DME rental market, 2016 - 2028 (USD Billion)
Figure 30 India DME rental market, 2016 - 2028 (USD Billion)
Figure 31 South Korea DME rental market, 2016 - 2028 (USD Billion)
Figure 32 Australia DME rental market, 2016 - 2028 (USD Billion)
Figure 33 Latin America DME rental market, 2016 - 2028 (USD Billion)
Figure 34 Brazil DME rental market, 2016 - 2028 (USD Billion)
Figure 35 Mexico DME rental market, 2016 - 2028 (USD Billion)
Figure 36 MEA DME rental market, 2016 - 2028 (USD Billion)
Figure 37 South Africa DME rental market, 2016 - 2028 (USD Billion)
Figure 38 UAE DME rental market, 2016 - 2028 (USD Billion)


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