The global medical equipment financing market size is predicted to reach USD 210.46 billion by 2027 owing to the advent of technological innovations in medical equipment. With the continuous advancement in medical technology, it has become a necessity to opt for the best-in-class medical equipment for excellent healthcare services. However, advanced diagnostic systems are expensive and are difficult for medical practitioners and hospitals to afford through their funds. There arises the need for medical equipment funding with low monthly installments and flexible loan models. According to a recently published report by Fortune Business Insights™ titled, “Medical Equipment Financing Market Size, Share & Industry Analysis, By Device Type (Diagnostic Equipment, Therapeutic Equipment, Patient Monitoring Equipment, and Others), By End User (Hospitals & Clinics, Laboratories and Diagnostic Centers, and Others), and Regional Forecast, 2020-2027,” the market value was USD 102.30 billion in 2019 and will rise at a CAGR of 9.5% between the forecast duration, 2020 to 2027.
The report covers:
- Global Medical Equipment Financing Market trends, with detailed analysis on consumer trends & manufacturer trends.
- Overview on supply analysis covering trends across raw material suppliers, technology providers and distributors.
- Key areas of investments identifying market opportunities and challenges in forecast timeframe.
- Competitive analysis of the industry players along with the overview on strategic management.
- Comprehensive company profiles of the major industry players.
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Leading Players operating in the Medical Equipment Financing Market are:
Key players are involved in mergers and acquisition to strengthen their market position. Owing to increasing competition frequent innovations are taking place in the market. Some of the companies operating the industry are:
- National Funding
- First American Equipment Finance
- HDFC Bank Ltd
- Hero FinCorp
- Blue Bridge Financial, LLC.
- TIAA Bank
- Other Players
Advent of Artificial Intelligence into Medical Sector will Add Impetus to Market
Various factors are responsible for the medical equipment financing market growth. These include the increasing number of diagnostic tests, patient monitoring, and increasing demand for diagnostic and therapeutic devices. Besides this, the rising prevalence of infectious diseases is also boosting the market. This, coupled with the rising need to provide advance medical care to patients and the need for therapeutic equipment such as ventilators, dialysis machines, ICU equipment, and others, is further expected to aid in the expansion of the market during the forecast period.
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North America will Dominate Market with Continuous Investment in Medical Equipment
Geographically, North America held the dominant medical equipment financing market share with a revenue of USD 45.93 billion generated in 2019. This is owing to the highest finance rate for medical equipment in the region, coupled with continuous investments in medical equipment and infrastructures in the region. Europe ranks second in the market on account of the increasing adoption of artificial intelligence technology-based medical equipment financing and developing healthcare infrastructure investments. Asia Pacific is likely to register steady growth in the forecast period on account of emerging finance industries, developing healthcare infrastructure, and medical facilities in the region especially in the emerging nations. Furthermore, the market in Latin America and the Middle East and Africa will witness stable growth on account of lack of awareness and poor understanding of financing guidelines among the population.
Detailed Table of Content:
1.1. Market Scope
1.2. Market Segmentation
1.3. Market Methodology
1.4. Definitions and Assumptions
- Executive Summary
- Market Dynamics
3.1. Market Drivers
3.2. Market Restraints
3.3. Market Opportunities
- Key Insights
4.1. Overview: Trends in Medical Equipment Finance Market
4.2. Snapshot of Equipment Finance Industry
4.3. New Product Launch of Medical Equipments
4.4. Key Industry Developments – Mergers, Acquisitions, and Partnerships
- Global Medical Equipment Financing Market Analysis, Insights and Forecast, 2016-2027
5.1. Key Findings / Summary
5.2. Market Analysis, Insights and Forecast – By Device Type
5.2.1. Diagnostic Equipment
5.2.2. Therapeutic Equipment
5.2.3. Patient-monitoring Equipment
5.3. Market Analysis, Insights and Forecast – By End User
5.3.1. Hospitals & Clinics
5.3.2. Laboratories & Diagnostic Centers
5.4. Market Analysis, Insights and Forecast – By Geography
5.4.1. North America
5.4.3. Asia Pacific
5.4.4. Latin America
5.4.5. Middle East & Africa
- North America Medical Equipment Financing Market Analysis, Insights and Forecast, 2016-2027
6.1. Key Findings / Summary
6.2. Market Analysis, Insights and Forecast – By Device Type
6.2.1. Diagnostic Equipment
6.2.2. Therapeutic Equipment
6.2.3. Patient-monitoring Equipment
6.3. Market Analysis, Insights and Forecast – By End User
6.3.1. Hospitals & Clinics
6.3.2. Laboratories & Diagnostic Centers
6.4. Market Analysis, Insights and Forecast – By Country
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- Extensive product offerings
- Customer research services
- Robust research methodology
- Comprehensive reports
- Latest technological developments
- Value chain analysis
- Potential Medical Equipment Financing Market opportunities
- Growth dynamics
- Quality assurance
- Post-sales support
- Regular report updates
Reasons to Purchase this Report:
- Comprehensive analysis of the Medical Equipment Financing Market growth drivers, obstacles, opportunities, and other related challenges.
- Tracks the developments, such as new product launches, agreements, mergers and acquisitions, geographical expansions, and joint ventures.
- Identifies market restraints and boosters.
- Identifies all the possible segments present in the market to aid organizations in strategic business planning.
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