The medical equipment rental market involves renting or leasing medical devices and equipment to healthcare providers and patients. This helps providers supplement their inventory of equipment without major capital expenses and allows patients short-term access to medical technologies. Common rental items include durable medical equipment such as hospital beds, wheelchairs, walkers, orthopedic braces and crutches. Larger and more expensive items like surgical equipment and monitoring devices are also part of equipment rentals. This option relieves providers and patients of maintenance and storage costs. It offers flexibility to have equipment on an as-needed basis instead of sitting idle otherwise.

The Global Medical Equipment Rental Market is estimated to be valued at US$ 56.68 Mn in 2024 and is expected to exhibit a CAGR of 6.7% over the forecast period 2024 to 2031.

The growing preference for Medical Equipment Rental Market Growth over purchasing is a major market driver. Factors like recurrent need for short-term use, high initial costs of equipment, budget constraints, and changing technology cycles favor the rental model. Additionally, the presence of attractive service contracts covering insurance, maintenance and repair costs make renting an affordable option. Initiatives by governments worldwide to enhance access to healthcare further propel industry growth.

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