Market Snapshot:
The healthcare modification has become highly impulsive with the introduction of various healthcare act. The hospitals & clinics opt for equipment financing to obtain the necessary delivery of high-quality care to keep more cash on hand to address any possible delays in reimbursement. The constant improvements in clinical outcomes compel the healthcare providers to have medical equipment financing to avoid any risk of limited capital budgets. Since medical equipment such as medical imaging, diagnostic, surgical and electronic devices, and other medical equipment can cost thousands of dollars to hospitals. To avoid the burden of initial purchasing more medical equipment at a time these equipment are bought using loans provided by finance companies that are repaid over a time span.
Highlights from Medical Equipment Financing Market Study
Attributes | Details |
---|
Study Period | 2018-2030 |
Base Year | 2023 |
Unit | Value (USD Million) |
CAGR | 13.2% |
The key Players profiled in the report are National Funding, Inc. (United States), TIAA Bank (United States), Amur Equipment Finance (United States), JPMorgan Chase & Co. (United States), Truist Bank (United States), CMS Funding (United States), Macquarie Group Limited (Australia), Société Générale S.A. (United Kingdom), Kabbage, Inc. (United States), First American Equipment Finance (United States), TD Bank, N.A. (Canada), HDFC Bank (India), Bajaj Finserv (India), CIT Group Inc. (United States), Med One Group(United States) and SMC Finance (India).
Geographic Breakdown and Segment Analysis
The Global Medical Equipment Financing market presents a comprehensive analysis of the Medical Equipment Financing market by product type (Refurbished Equipment, New Medical Equipment and Rental Equipment), and by geography (North America, South America, Europe, Asia-Pacific and MEA) along with country level break-up. This section of our report presents a realistic picture of the Global Medical Equipment Financing industry. Investors and Players can easily understand the inherent opportunities and challenges for their products in geographical region of interest.
For instance, while the holds majority of market share of the Medical Equipment Financing market
Analyst at AMA have segmented the market study of Global Medical Equipment Financing market by Type, Application and Region.
Influencing Trend:
Technological Advancements And New Product Development In Medical Equipment
Market Growth Drivers:
High Initial Cost Of Medical Equipment Is Increasing Demand For Medical Equipment Financing Globally and Growth In The Medical Equipment Markets
Challenges:
Lack Of Awareness In Developing And Underdeveloped Countries
Restraints:
Increasing Premium Costs for Medical Equipment Financing
Opportunities:
Rising Cost Of Medical Equipment Increased Adoption Of Purchasing Medical Equipment On Finance, Increasing Health Consciousness and Easy Claim Process Of Medical Equipment Financing
Market Developments Activities:
In April 2019, TimePayment acquired LeaseQ Inc., an online equipment financing marketplace. This acquisition enhanced TimePayment's vendor sales financing platform and improved services.
In May 2021, G.E. Healthcare and NSIA Banque Cote d'lvorie announced a partnership with IFC's Africa Medical Equipment Facility to strengthen the healthcare industry and support medical equipment financing across Africa.
The global market is highly competitive and consists of a limited number of providers competing. The intense competition, changing consumer spending patterns, demographic trends, and frequent changes in consumer preferences pose significant opportunities for market growth.
Analyst Comment
"The ongoing COVID-19 outbreak will create huge opportunities for the medical equipment financing market. The rising demand for medical accessories, CT scans, MRI, and other medical equipment has initiated a robust demand for medical equipment financing. Thus, in the coming period, there is an immense market potential for medical equipment financing companies worldwide"
Key Target Audience
New Entrants/Investors, Analysts and Strategic Business Planners, Medical Equipment Financing Providers, Healthcare Service Providers, Medical Equipment Providers, Venture Capitalists and Private Equity Firms, Government Regulatory and Research Organizations and End Users