Medical Equipment Rental Market Size, Share, and Trends 2025 to 2034

Medical Equipment Rental Market Size and Forecast 2025 to 2034

The global medical equipment rental market size was accounted for USD 56.25 billion in 2024, and is expected to reach around USD 91.28 billion by 2034, expanding at a CAGR of 5% from 2025 to 2034. The increasing adoption of medical rental devices due to their cost-effectiveness is a key factor driving the market growth. Furthermore, rising R&D activities to develop innovative medical devices and ongoing technological advancements are expected to boost the growth of the market during the forecast period.

Medical Equipment Rental Market Key Takeaways

• North America dominated the global medical equipment rental market with the highest market share of 33.14% in 2024.
• Asia Pacific is projected to grow at the fastest CAGR during the forecast period.
• By product, the durable segment has held a major market share in 2024.
• By end user, the hospital segment accounted for the highest market share of 46% in 2024.

Impact of AI on the Medical Equipment Rental Market

Artificial intelligence (AI) significantly propels the growth of the market. AI algorithms analyze huge amounts of data and predict demand for medical equipment rental. By using AI technologies, rental companies can optimize their inventory levels and supply chains to fulfill the overall demand for medical equipment rental. AI also ensures that equipment are always in working condition, thereby reducing downtime.

U.S. Medical Equipment Rental Market Size and Growth 2025 to 2034

The U.S. medical equipment rental market size was estimated at USD 13.15 billion in 2024 and is predicted to be worth around USD 22.62 billion by 2034, at a CAGR of 5.60% from 2025 to 2034.

North American region will have the largest market share in the coming years and this region has dominated the market in the past with the highlight share in terms of revenue. Ready service providers are present in the North American region, which provides technologically advanced equipment and this equipment is in high demand due to their extreme market, which is expected to see favorable growth. In order to reduce the expenditure made on the acquisition of various equipment, the demand for rental services has grown to a great extent. Leasing the equipment to avoid the expenditure made on the apparatus needed for therapeutic purposes will grow in the coming years.

The European region will also see significant growth in the form of revenue. As chronic diseases are increasing in the European region, the need for renting various equipment will increase. The increasing geriatric population in the European region is another factor that will lead to the growth of the market. In order to reduce the operational cost incurred by the research laboratories as well as the educational institutes, the need for renting medical equipment is increasing. A favorable reimbursement policy will also prove to be an instrumental factor in the growth of the market.

The highest compound annual growth rate will be recorded in the Asia Pacific region as the initiatives taken by the government are extremely favorable in many developing economies. A considerable share is held by China as a lot of medical equipment is rented in this market. Growing cases of obesity and the number of patients that are disabled in this region will help in generating more revenue in the market.

Market Overview

Medical equipment is the necessary tools or the fundamental tools which are used in the clinics for the care of the patients. Technological advancements which were possible due to the constant research and development in the field have provided innovative equipment in the market. Renting medical equipment is on the rise as many nations across the globe are financially struggling due to which there are fewer budgets for healthcare facilities. The demand for rented medical equipment is on the rise as it reduces the amount spent on the acquisition of the equipment. Many companies that provide these devices and equipment on rent are playing a significant role in providing an improved facility for patients.

Medical Equipment Rental Market Growth Factors

• Rising investments in the development of innovative medical equipment for renting purposes boost the growth of the market. Healthcare professionals and patients are able to take benefit from these medical devices.
• The easy availability of smart devices is expected to propel market growth in the coming years. Many devices that are available in the market on a rented basis allow patients to track their daily activities and monitor conditions.
• The cost-effectiveness of rental medical equipment boosts their adoption. Renting medical equipment is often more affordable for healthcare providers than purchasing. This is particularly relevant for hospitals and clinics.
• The rising government investments in improving healthcare infrastructure further contribute to market expansion.
• With the growing awareness about self-care and elf-medication, there is a high demand for medical devices for home use, which fuels the growth of the market.

Market Scope

 Market Dynamics

Key Market Drivers

• Availability of innovative products on rent - Many firms are engaged in providing medical equipment of the innovative type on a rental basis. Advanced supervision for the patients with the help of healthcare professionals through the use of these innovative products will provide good opportunities for the growth of this market in the long run. The use of wearable devices and the availability of non-invasive procedures will also help in the growth of the market. Artificial intelligence will also play a significant role in the growth of the market during the period of forecast. The market is expected to show significant growth in the coming years due to the availability of durable equipment of the innovative kind.
• An increase in the number of devices rented will also help in the growth of the market - Recently there is a growing trend for renting various devices used for therapeutic purposes and this trend shall continue to grow in the coming years. Low availability of various devices that perform assistive functions like walkers, visual aids, and hearing aids are expected to drive the market growth in the coming years. 
• Renting services used by medical personnel - Increase in the need for various devices used for the therapeutic process in hospitals and other healthcare centers is also expected to drive market growth in the coming years. The use of wheelchairs and oxygen concentrators are also provided on rent.

Key Market Challenges 

• Non-adherence to the standards - The rented medical equipment which is available in the market does not qualify for their quality as laid down by the security standards for the patients. This is expected to hamper the growth of this market in the coming years. This proves to be a hazard as the providers of these devices do not follow the standards laid down by the authority. Most of the medical equipment is not certified due to the required standards not being maintained and the equipment performing in a poor manner. This will hamper the growth of the market during the period forecast.
• Lack of coverage provided in insurance - Very few devices which are offered in the renting services come with proper insurance coverage. This will hamper the growth of the market as it will reduce the expansion of the medical device renting market. As the awareness regarding the availability of products with better costs is less, consumers end up spending a lot more on renting these devices.

Key Market Opportunities

• Government policies - The availability of various grants provided by the government for the betterment of the population that is physically impaired will lead to the growth of this market. Financial support is provided due to the enactment of various provisions by the government and it provides funds and equipment to these people through the renting of various equipment.

Product Insights

On the basis of the product, the largest market share will be held by durable medical equipment. As the geriatric population is increasing and the number of people that are disabled is also increasing the demand for the equipment which helps in assisting such people will increase in the coming years. Devices used for therapeutic purposes and monitoring purposes are in great demand. Renting these devices helps in generating a lot of revenue. The availability of monitoring devices of a wireless nature is in greater demand. Lifestyle diseases are yet another reason that will help in the growth of the market. The need for devices used in personal mobility is also expected to provide a good amount of growth in the coming years as many new products are launched that are technologically advanced. The availability of automated recliners will supplement the market growth. 

End-User Insights

The hospital segment accounted for the highest market share of 46% in 2024, as the number of patients making use of the equipment that is entered into the hospital has increased significantly. Many reforms in the policy made by the government will lead to increased adoption of better healthcare infrastructure in the coming years. The majority of the world's regions offer equipment rental services, which will spur industry expansion.

Growth in the issues related to the efficient deployment of capital will also lead to the growth of the rental market. The demand for rented equipment in the home care segment is also estimated to grow well in the coming years. Diseases which are associated with lifestyle are also increasing, like diabetes and obesity, and the need for rental equipment is expected to grow. Increasing cases of cardiac diseases will also boost the rental equipment market.

Medical Equipment Rental Market Companies

• Westside medical supply
• Universal hospital services
• Woodley Equipment Co limited
• Siemens financial services
• Nunns's home medical equipment

Recent Developments

• In October 2024, Positron Corporation, a leading molecular imaging medical device company offering PET and PET-CT imaging systems and clinical services, announced the launch of its new Prime Rental Program, offering PET-CT systems with comprehensive services for a single monthly fee.

Segments Covered in the Report

By Product

• Durable
• Surgical
• Storage and Transport

By End User

• Hospitals
• Institutes
• Personal

By Geography

• North America
• Europe
• Asia-Pacific
• Latin America
• Middle East & Africa (MEA)