Medical Equipment Rental Segment Revenue Is Expected to Reach Us$23.6 Bn by the End of 2016

The highly fragmented global medical equipment rental market is dominated by Siemens Financial Services Inc., Apria Healthcare Group Inc., Universal Hospital Services Inc., and Centric Health Corporation, among others. According to Transparency Market Research, improving the distribution network in emerging economies remains an important strategy for medical equipment rental market players to pursue, as the healthcare sector in many emerging economies is dominated by small-scale hospitals who can’t afford to purchase advanced medical equipment. 

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Increasing Prevalence of Chronic Diseases in Emerging Economies Leads to Need for Medical Equipment Rentals 

The prime driver for the global medical equipment rental market is the increasing prevalence of cardiovascular, orthopedic, and lifestyle diseases requiring long-term management. Several countries in emerging regions such as Asia Pacific and Latin America exhibit high prevalence of such diseases. The developing healthcare sector in these regions is a crucial target for medical equipment rental companies, since the increasing purchasing power of consumers in emerging regions is leading to a steady increase in the healthcare expenditure.

Lack of Standard Regulations Hurting Utilization of Rented Medical Equipment

The global medical equipment rental market is held back by the prevalence of a varied cost structure across the world. Regulations regarding medical equipment rentals may vary to a considerable degree in different regions, which can cause legal complications at the time of the transaction. This has also led to a lack of awareness about medical equipment rental services, leading to many small-scale hospitals ending up paying more than necessary to obtain rented medical equipment. Global coordination between healthcare agencies and proactive measures from global healthcare bodies...