Durable Medical Equipment Rental Market Size, Share, Growth Analysis, By Application(Personal Mobility Devices, Bathroom Safety and Medical Furniture, Monitoring and Therapeutic Devices), By End-Use(Personal/Homecare, Institutes and laboratories, Hospitals), By Region - Industry Forecast 2024-2031

In 2022, North America firmly held the reins of the DME rental market, boasting the largest slice of the revenue pie at 32.5%. This commanding position can be attributed to a combination of recent economic deceleration, the burgeoning geriatric population, and the heightened prevalence of lifestyle-related ailments. These factors are expected to collectively contribute to the region's market expansion. Additionally, the surge in governmental initiatives aimed at reining in healthcare expenses is projected to create a favorable environment for market growth.

Across the Asia Pacific region, the DME rental market is poised to experience robust growth during the forecast period. This optimistic outlook is chiefly influenced by the region's substantial patient pool, which consequently fuels a robust demand for advanced healthcare infrastructure. Furthermore, the presence of government programs aimed at enhancing the affordability and accessibility of patient assistance devices, coupled with the burgeoning geriatric demographic, is poised to act as key catalysts for segment growth. For example, the United Nations Population Fund (UNFPA) predicts that by 2050, the Asia Pacific region will be home to an estimated 1.3 billion individuals aged 60 and above. This demographic shift is expected to significantly drive demand for durable medical equipment across the region. The resulting high demand, coupled with the costliness of such equipment, is anticipated to trigger an upsurge in the demand for DME rental services, given that renting presents a more cost-effective alternative.