Global Medical Equipment Financing Market Size By Equipment (Diagnostics Equipment, Therapeutic Equipment), By Type (New Medical Equipment, Rental Equipment), By End User (Hospitals, Clinics), By Geographic Scope And Forecast

Medical Equipment Financing Market Size And Forecast

Medical Equipment Financing Market size was valued at USD 149.7 Billion in 2021 and is projected to reach USD 275.2 Billion by 2030, growing at a CAGR of 7.1% from 2023 to 2030.

As people earn more, they naturally want the best healthcare and services available. Knowing the latest medical practices isn't just a bonus for doctors anymore – it's a must-have. But upgrading facilities and investing in advanced tech? That's not easy. The costs can be huge, especially for smaller clinics. Spending all your cash on medical equipment can really hurt your day-to-day business. That's why a medical equipment loan is often the smartest way to give patients top-notch care

Global Medical Equipment Financing Market Definition

Finance for the acquisition of medical equipment, such as diagnostic tools, surgical equipment, and patient care equipment, is referred to as medical equipment financing. Financial institutions, leasing companies, and other lenders offer finance, which might take the form of loans, leases, or rental agreements. The available financing alternatives change based on the equipment’s price and type, the borrower’s creditworthiness, and the equipment’s intended use. Healthcare professionals can obtain the latest tools and technology with the assistance of medical equipment financing without having to pay the full price upfront.

Every company needs money or other forms of support to get started or grow. These days, the market is flooded with financial products that assist in accomplishing this goal. Companies have come to realize the value of lending money to maintain operations or make capital improvements over time. Profits or savings may not always be the best choice to use. Deep funds are required to upgrade the infrastructure and procedures, which is a feature of the healthcare sector. Since healthcare directly affects people’s lives, it is constantly in the spotlight.

Moreover, medical equipment loans or healthcare financing are crucial to the banking industry as well as the healthcare industry. This product is provided by numerous reputable financial institutions. All organizations involved in the healthcare industry, including clinics, hospitals, labs, dialysis facilities, diagnostic centers, and others, are targeted by it. All of these arrangements require significant initial investments as well as ongoing funding to maintain their high levels of service.

Global Medical Equipment Financing Market Overview

One of the hospitals’ initial difficulties during the pandemic was managing the surge of patients. There was a shortage of beds and ventilators, ambulances were so in high demand that non-ambulance vehicles were equipped with equipment to transport patients, and personal protective equipment was in short supply (PPE). Operations that were not emergencies or electives were stopped. Exams for health, dental, and optical care were rescheduled. The loss of normal care harmed staffing and revenue.

As soon as they could, pharmaceutical companies jumped into vaccine development, while healthcare companies raced to create COVID-19 test kits. According to “COVID-19 and Its Impact on Healthcare Financing,” a report from August 2020, we saw a huge shift in what equipment everyone needed. DLL, a global asset finance provider, noticed their clients were constantly changing their spending and equipment plans. To keep up with these shifts and minimize upfront financial limits, DLL offered flexible financing options. This helped companies quickly get the crucial assets they needed and get ready for a boom in business when the economy bounces back.

Therefore, it is anticipated that such circumstances that result in a variety of flexible financing solutions would fuel market expansion during the anticipated timeframe. Moreover, additional drivers advancing the industry include market technology advances and increased patient demand. Like any other sector, healthcare requires technology to meet the constantly shifting demands of patients. The technical infrastructure, which includes advanced diagnostic equipment and digital medical records, is a significant component in establishing the standard of patient treatment.

To stay ahead, hospitals and clinics are constantly looking for the latest and greatest medical equipment. This push for cutting-edge tech is fueled by a couple of thingsour population is getting older, and people in smaller towns are getting better access to healthcare. Because of all this, we're probably going to see more and more demand for ways to pay for that equipment – medical equipment financing – which should really help the industry grow. What else is driving this growth? Well, developing countries need more supplies, the ME prices are going up, developed countries are making huge leaps in technology, and let's be honest, having extra cash (even a little!) on hand helps you weather any unexpected reimbursement issues.

Global Medical Equipment Financing MarketSegmentation Analysis

The Global Medical Equipment Financing Market is Segmented on the basis of Equipment, Type, End User, and Geography.

Medical Equipment Financing Market, By Equipment

• Diagnostics Equipment
• Therapeutic Equipment
• Patient Monitoring Equipment
• Laboratory Equipment
• Medical Furniture

So, when you look at what kind of equipment we're talking about, the market breaks down into things like Diagnostics Equipment, Therapeutic Equipment, Patient Monitoring Equipment, and even everyday stuff like Laboratory Equipment and Medical Furniture. Turns out, back in 2021, Diagnostics Equipment was where all the action was, growing the fastest and bringing in the most money. You see, in countries that are still developing, there's a real push for better healthcare – nicer facilities and a stronger healthcare system overall. This is creating a need for the fancy, top-of-the-line medical gear. But, because everyone wants the latest tech, all these new products and services can be pretty pricey. Plus, with diseases spreading around, and ways to diagnose them getting better all the time, we're seeing more and more diagnostic centers popping up. That's why so much money is being poured into diagnostic tools.

To give patients the absolute best care, hospitals and clinics are constantly investing in the latest technology, like ventilators, ICU gear, and dialysis machines. Think about itthe 2019 COVID crisis really boosted the need for ventilators and other diagnostic tools like X-ray and MRI scanners. This is likely to make the therapeutic and diagnostic market even bigger in the near future. Plus, with patients wanting the services of intensive care units, hospitals are expanding and improving their facilities. Now, things like ECG monitors, incubators, and EHR (Electronic Health Record) systems are must-haves for anyone providing medical care.

Medical Equipment Financing Market, By Type

• New Medical Equipment
• Rental Equipment
• Refurbished Equipment

Based on Type, the market is segmented into New Medical Equipment, Rental Equipment, and Refurbished Equipment. The reconditioned products market peaked in 2021. Refurbished medical equipment is that which has undergone reconditioning or restoration to a usable format without changing its primary function or original specifications. This equipment is only used after a thorough cleaning, disinfection, and replacement of any worn or damaged parts. Reconditioned medical equipment is in high demand, especially in developing countries where there are financial limitations.

Medical Equipment Financing Market, By End User

• Hospitals
• Clinics
• Laboratories & Diagnostic Centers
• Ambulatory Surgical Centers
• Others

Based on End User, the market is segmented into Hospitals, Clinics, Laboratories & Diagnostic Centers, Ambulatory Surgical Centers, and Others. The development of diagnostic instruments to support the growth of diagnostic facilities and laboratories. In 2021, the hospital and clinic sector remained the market leader. This dominance can be credited to factors like greater investment in infrastructure management and rising patient demand for surgical procedures at clinics and hospitals.

Hospitals and clinics are expanding dramatically as a result of the availability of a well-established medical infrastructure and rising patient preferences. Hospitals and clinics can quickly adapt to and install newly introduced medical technologies as a result of the quick availability of appropriate financing from finance companies. An increase in patient admissions due to respiratory issues, cardiac disorders, COVID-19, and other infectious diseases is also facilitating the demand for therapeutic equipment and generating several opportunities for financial businesses.

Medical Equipment Financing Market, By Geography

• North America
• Europe
• Asia Pacific
• Rest of The World

Based on regional analysis, the Global Medical Equipment Financing Market is classified into North America, Europe, Asia Pacific, and the Rest of the world. North America is expected to hold the largest share during the forecast period. This domination is primarily due to the region’s highest financing rate for medical equipment. Medical infrastructure investments and continuing medical device advancements have contributed to this region’s dominance. Additionally, due to rising investments in healthcare infrastructure and growing acceptance of artificial intelligence technologies for financing medical equipment.

Key Players

The “Global Medical Equipment Financing Market” study report will provide valuable insight with an emphasis on the global market including some of the major players such as Hero FinCorp, National Funding, Blue Bridge Financial, LLC, First American Equipment Finance, SMC Finance, Siemens Financial Services, Inc., SLR Healthcare ABL, TIAA Bank, JPMorgan Chase & Co., Macquarie Group Limited, Truist Bank, HDFC Bank.

Our market analysis also entails a section solely dedicated to such major players wherein our analysts provide an insight into the financial statements of all the major players, along with its product benchmarking and SWOT analysis. The competitive landscape section also includes key development strategies, market share, and market ranking analysis of the above-mentioned players globally.

Key Developments

• In February 2022, Toronto-Dominion Bank and First Horizon made public their agreement to sell First Horizon to TD in an all-cash transaction valued at around $13.0 billion. This strategy helped the company to establish a solid position in the market.
• In July 2021, IFC and the Multilateral Investment Guarantee Agency (MIGA) announced a trade financing guarantee project to support trade flows of essential items, such as food and medical supplies, to assist low-income countries in recovering from the pandemic’s consequences.
• In May 2021, to facilitate the financing of medical equipment across Africa, E. Healthcare and NSIA Banque Cote d’Ivoire have established a cooperation with IFC’s Africa Medical Equipment Facility.
• In April 2021, Along with Anaxago, IMAGEENS raised USD 1.45 million for seed funding. Increasing the implementation of software solutions is anticipated to boost the company’s workforce with important R&D skills.

Ace Matrix Analysis

The ace matrix provided in the report would help to understand how the major key players involved in this industry are performing as we provide a ranking for these companies based on various factors such as service features & innovations, scalability, innovation of services, industry coverage, industry reach, and growth roadmap. Based on these factors, we rank the companies into four categories as Active, Cutting Edge, Emerging, and Innovators.

Market Attractiveness

The image of market attractiveness provided would further help to get information about the region that is majorly leading in the Global Medical Equipment Financing Market. We cover the major impacting factors that are responsible for driving the industry growth in the given region.

Porter’s Five Forces

The image provided would further help to get information about Porter’s five forces framework providing a blueprint for understanding the behavior of competitors and a player’s strategic positioning in the respective industry. Porter’s five forces model can be used to assess the competitive landscape in the Global Medical Equipment Financing Market, gauge the attractiveness of a certain sector, and assess investment possibilities.

Report Scope

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