Emerging Nations to Offer Lucrative Growth Prospects
Emerging nations are expected to offer attractive growth opportunities to the market. For instance, the medical equipment rental market in India will gain from better accessibility to healthcare facilities. In addition to this, the presence of favorable reimbursement policies will support the market's expansion in developed economies. Factors such as the rising awareness around the world and increasing willingness to spend on advanced healthcare will continue aiding the medical equipment rental market growth through the course of the report's forecast period.
The paradigm shift from procuring to leasing medical devices is also touted as a chief market driver. In addition to economic crisis, leading to higher adoption of various medical assist devices, technological developments are considered as key trends enabling growth in the market. Coupled with these, the rising investment towards research and development, are forecast to support growth in the coming years. With product lifecycle of medical devices shortening, the demand for medical equipment rental will skyrocket in the coming years.
Demand for Durable Medical Equipment Expected to Rise
For the purpose of the study, the global market is segmented on the basis of various parameters. For instance, in terms of products, the market is categorized into surgical equipment, durable medical equipment, and storage and transport. Of these, the durable medical equipment segment is expected to enjoy dominance in the global market in the coming years.
Hospitals to Emerge as Leading End Users
Among key end users, including institutions, hospitals, and personal and home care, the demand from hospitals is expected to surge exponentially in the coming years. Healthcare providers have been reeling under the concern of accumulated frozen capital since a long time. Making concerns more intense are the frequent product launches. At the same time, increasing investment required towards the procurement of advanced devices is encouraging hospitals and other end users to invest in rentals instead.