Medical Equipment Financing Market Size, Share, Growth and Global Industry Analysis By Type & Application, Regional Insights and Forecast to 2024-2032

Medical Equipment Financing Market Size, Share, Growth and Global Industry Analysis By Type & Application, Regional Insights and Forecast to 2024-2032

Growth Factors of Medical Equipment Financing Market

The medical equipment financing market size was valued at USD 102.30 billion in 2019, and the market is now projected to be USD 336.95 billion by 2032, exhibiting a CAGR of 6.3% during the forecast period of 2020-2032.

The increased demand for diagnostic equipment, and patient monitoring systems impelled the market growth. The COVID-19 pandemic has proven to be advantageous for the market. The pandemic has recently created multiple opportunities in the medical equipment financing market worldwide. The growing demand for diagnostic kits, checkup accessories for instance gloves, masks, protective gear, and many more have initiated robust manufacturing in the medical industry. Hence, the pandemic has boosted the medical equipment financing market growth.

The medical equipment financing market share globally has increased because of the technological innovations in health check tools. There has been incredible growth in the medical instrument industry. Rapid technological advancements integrated with AI technology have leveraged the medical sector’s potential. This is the major factor encouraging the demand and magnetizing doctors, physicians, and others towards the tools funding market. The highly advanced & expensive equipment has made the hospitals, and diagnostic centers to opt for funding. In addition, medical finance companies have equally provided flexible investment solutions to its customers. Furthermore, upgradation of the existing equipment versions increases the cost factor, and eventually becomes unaffordable by the physicians of the middle-income and lower-income countries.

The trend is increasing higher medical equipment finance support from banks is propelling the market growth. After the signing of the Affordable Care Act in 2010, there has been a tremendous change in the dynamic aspects of the therapeutic apparatus finance field. The sector has now shifted its focus on the interest of financial decision-makers. This has created a great avenue for several finance lenders in enhancing their businesses. The equipment funding companies and banks are represented as a backbone that can provide sufficient finance.

Comprehensive Analysis of Medical Equipment Financing Market

The medical equipment financing market and healthcare industry is rising at an exponential rate due to its market segmentation. This market expansion effectively provides a detailed regional assessment considering the dominant supply and demand forces that impact the healthcare industry. These segmentations are methodically segregated by device type and end user. The device types include diagnostic equipment, therapeutic equipment, patient monitoring equipment, and others. The end users involve hospitals & clinics, laboratories and diagnostic centers, and others.

The North American region is conducive to the global medical equipment financing market, leading to a recall of USD 45.93 billion due to the highest finance rate for medical equipment in the region. Constant medical device innovations and investments in the medical infrastructures have supported the dominance of this region.

The top players in the market play a crucial role in the healthcare industry assuring industrial prospectus growth and setting market standards. These players include Hero FinCorp, National Funding, Blue Bridge Financial, LLC., First American Equipment Finance, TIAA Bank, HDFC Bank Ltd, SMC Finance, and Other Prominent Players, these market players provide a level-playing competitive landscape.

In July 2021, IFC and MIGA (Multilateral Investment Guarantee Agency) launched a combined initiative, the Trade Finance Guarantee initiative. This scheme will support trade flows of critical goods, as well as food and medical equipment in low-income countries to recover them from the impacts of the pandemic.

Segmentation Table

Global Medical Equipment Financing Market Scope

ATTRIBUTE DETAILS

Study Period 2016 – 2027

Base Year 2019

Forecast Period 2020-2027

Historical Period 2016-2018

Unit Value (USD billion)

SegmentationBy Device Type

Diagnostic Equipment

Therapeutic Equipment

Patient Monitoring Equipment

Others

By End User

Hospitals & Clinics

Laboratories & Diagnostic Centers

Others

By Geography

North America (the U.S. and Canada)

Europe (U.K., Germany, France, Italy, Spain, Scandinavia, and the Rest of Europe)

Asia-Pacific (Japan, China, India, Australia, Southeast Asia, and the Rest of Asia- Pacific)

Latin America (Brazil, Mexico, and the Rest of Latin America)

Middle East & Africa (South Africa, GCC and the Rest of the Middle East & Africa)


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