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Medical Equipment Financing Market size to exceed $275bn by 2030

  • Published Date: June 10, 2022

Medical Equipment Financing Market size is set to surpass USD 275 billion by 2030, according to a new research report by Global Market Insights Inc.

Rising cost of healthcare equipment is expected to drive the business landscape. Furthermore, building up cash reserves as a defense against worst case reimbursement scenario will foster the market revenue.

Surging advancement in medical equipment financing will fuel the market progression

Increasing acceptance of artificial intelligent technology has leveraged the medical industry potential. With this, there is an upgradation to new equipment with better features that provides superior treatment to the patients. For instance, according to the Equipment Leasing & Finance Foundation’s Report, in 2019, nearly 8 in 10 businesses that acquired equipment and software used at least one form of financing such as lease, secure loan, or line of credit. Therefore, acquiring medical equipment with medical equipment loans and leases has been made simple and easy.

Rising demand for patient monitoring equipment will spur the industry statistics

Patient monitoring equipment segment exceeded USD 34.8 billion in 2021. This is attributed to the increasing demand for patient monitoring equipment in developing countries to observe, report and analyze acute or chronic conditions used in hospitals and clinics. Additionally, increasing use of ECG devices to check heart’s rhythm and electrical activity will propel overall medical equipment financing market expansion.

Furthermore, high availability of patient monitoring equipment in the market such as blood pressure monitors, electro-cardiograph (ECG) device, patient monitors, pulse oximeter, pulse watches, continuous glucose monitoring device, spirometers, and capnography, among others. This will fuel the market progression. Therefore, many firms incline towards medical equipment financing & leasing, and loans required for infrastructure.

Browse key industry insights spread across 184 pages with 246 market data tables & 12 figures & charts from the report, Medical Equipment Financing Market Analysis By Equipment (Diagnostics Equipment, Therapeutic Equipment, Patient Monitoring Equipment, Laboratory Equipment, Medical Furniture), Type (New Medical Equipment, Rental Equipment, Refurbished Equipment), End-use (Hospitals, Clinics {Dermatology Clinics, Dental Clinics, Ophthalmology Clinics}, Laboratories & Diagnostic Centers, Ambulatory Surgical Centers [ASCs]), Industry Analysis Report, Regional Outlook, Growth Potential, Competitive Market Share & Forecast, 2022 – 2030 in detail along with the table of contents:

Growing demand of advanced medical equipment will augment the market outlook

New medical equipment segment surpassed USD 96 billion in 2021. This is owing to adoption of artificial intelligence, blockchain, voice search, chatbots, and virtual reality in health technologies. Moreover, increasing costs of the medical equipment’s, leading doctors or healthcare firms incline towards loan to purchase an equipment, this also reduces the high interest rates regardless of any type and number of instruments. In addition, it also helps in preserving working capital and streamline operations in a modified manner. Therefore, growing adoption of new medical equipment will foster the overall market size.

Hospitals segment will boost the overall market forecasts

Medical equipment financing market from hospital segment accounted for 36% business share in 2021 and is set to register a significant CAGR through 2030. This is due to the rising utilization of medical equipment financing practices that allows hospitals to purchase medical equipment at lower price. Similarly, equipment financing increases the working capital of hospitals with more available capital. This allows hospitals in hiring new doctors and clinicians along with investment in cybersecurity software.

Moreover, hospitals prefer to opt for healthcare loan including infrastructure loan and working capital to avoid risks in the market. Thus, medical equipment financing reduces the risk and controls the overall financial situations. As a result, increased hospital investments around the globe will certainly have a positive impact on the industry growth.

Highly competitive market in Europe will contribute to industry expansion

Europe medical equipment financing market is expected to grow at 6.5% CAGR during the forecast period driven by the high cost of healthcare equipment. According to the Organization for Economic Co-operation and Development (OECD), in Europe, the healthcare spending per capita increased around 3% each year between 2013 and 2019 by adjusting the inflation. Similarly, growing demand for medical equipment financing coupled with presence of major market player including Meridian Group International, and Societe Generale S.A will accelerate the regional market trends.

Major leaders are focusing on strategies & launching innovative products to capture a higher market share

Some of the prominent industry players operating in the medical equipment financing market include CMS Funding, Kabbage (American Express), Bajaj Finserv, TIAA Bank, Blue Bridge Financial, LLC, First American Healthcare Finance, HDFC Bank, HeroFinCorp, JPMorgan Chase & Co., National Funding, SMC Finance, Truist Bank, Societe Generale S.A., and Toronto-Dominion Bank. These market players are implementing various strategic collaborations, innovations, mergers, and acquisitions to sustain market competition and strengthen its value.

Authors: Sumant Ugalmugle, Rupali Swain

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