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

Global Durable Medical Equipment Rental Market size was valued at USD 26 billion in 2022 and is poised to grow from USD 27.56 billion in 2023 to USD 43.93 billion by 2031, growing at a CAGR of 6.00% during the forecast period (2024-2031).

The expansion of this sector can be attributed to the robust demand for home care services and the substantial costs associated with medical equipment, further underscored by the mounting need to control healthcare expenses.

The market's momentum is also propelled by the increasing elderly and disabled population, which is driving the requirement for long-term care and personalized mobility and safety devices. In this context, rental services offer short-term arrangements that are more economically feasible compared to outright purchases.

Leading companies, like Block Imaging, integrate service coverage within rental pricing. This includes provisions for preventive maintenance, parts replacement, engineer labor, uptime assurances, and around-the-clock call center support, collectively minimizing quality concerns associated with durable medical equipment (DME) rentals. Given the predominant user demographic of elderly or disabled individuals, these service provisions foster convenience and elevate living standards.

Swift technological advancements contributing to the swift obsolescence of products drive consumers and healthcare institutions toward embracing DME rental solutions.

For instance, the development of advanced accessories for walking aids or sophisticated versions like rollators, enhancing user comfort, encourages the adoption of DME rentals to access novel and improved products. Upgrading medical equipment serves as a pivotal marketing strategy for rental companies, generating supplementary revenue streams.

US Durable Medical Equipment Rental Market is poised to grow at a sustainable CAGR for the next forecast year.