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Medical Equipment Renting: Research Predicts Steep Rise by 2020

Medical Equipment Renting

The healthcare industry is witnessing the introduction of new and latest medical equipment on a regular basis. Thanks to the latest advanced technologies and innovations, the cure to various deadly diseases have been found today.

Medical Equipment Renting

Healthcare facilities have found that renting medical equipment is not only a wise decision, but a cost effective one as well. A market report published in 2015 by Transparency Market Research based on the global medical equipment rental market forecasted that this industry is expected to reach US$49, 112.8 million by 2020, which is an expansion at CAGR of 5.8%.

Renting medical equipment gives hospitals and other medical facilities an opportunity to offer the most accurate treatment possible without going over budget. Renting instead of buying medical equipment is quickly becoming a popular option with many hospitals and healthcare facility administrators around the globe.

Convenience
Renting medical equipment allows healthcare facilities to have state of the art technology on hand when they need it without having to continually upgrade their equipment. If a machine breaks down or needs to be calibrated or adjusted, they do not have to worry about making repairs.

Rented equipment is a setup that needs regular maintenance by the owners, so the healthcare facilities don’t have to worry about scheduling appointments or paying for visits from a repair tech.

Newest Technologies
With today’s innovative technologies, new machines are often obsolete after six months or a year. Renting equipment allows a facility to have the most advanced sets of medical equipment in hand at all times, enabling them to provide the highest quality of care possible. Equipment is regularly updated to make sure the equipment is set to the latest technological standards.

Financial Benefits
The financial benefits of renting medical equipment are many. The healthcare facility does not have to worry about the cost of upgrades, repairs or regular maintenance. In addition, if the machine is needed only for a short period of time, the facility does not have to purchase it outright and have the hassle of trying to sell it once it is no longer needed.