Medical Equipment Financing Market Size By Device Type(Diagnostic equipment, Therapeutic equipment, Patient monitoring equipment, Others), By Device Finance Type( New Medical Equipment, Rental Equipment, Refurbished Equipment, Other), By End User and Region Forecast to 2023-2032
Report Description
The global Medical equipment financing market size was valued at USD 130,503.6 million in 2022, expanding at a CAGR of 9.2% from 2023-2032 to reach 154,781.9 Million USD in 2032.
Market Dynamics
Maintaining current with technological developments in medical equipment is essential, but it can be costly. Because of this, a lot of medical professionals require medical equipment loans in order to buy the equipment and supplies they require. These professionals can enhance their cash flow and develop their reserves by obtaining the equipment they require through a loan or lease on medical equipment. This equipment will help them draw in new and returning patients. It is now essential to choose top-of-the-line medical equipment in order to receive top-notch healthcare services due to the ongoing advancements in medical technology. Advanced diagnostic tools, however, are pricey and challenging for hospitals and doctors to afford with their budgets. There is a demand for medical equipment financing with reasonable monthly payments and adaptable loan structures.
The market for medical equipment has expanded significantly. The potential of the medical industry has been maximised by rapid technical breakthroughs and AI technologies. This is the main driver of demand for and the attraction of doctors, physicians, and other healthcare professionals to the market for equipment financing. Because of the pricey and highly advanced equipment, hospitals and diagnostic centres have chosen financing. The price of some medical equipment imported from China has increased as a result of the trade conflict between China and the U.S. These factors have increased the price of medical equipment, forcing end users to choose medical equipment financing while making their purchases. Additionally, the expansion of cutting-edge medical equipment to deliver effective medical care to patients has been fueled by the rising prevalence of chronic diseases.
Regional Insights
The market for medical equipment has experienced enormous growth. Rapid technical progress coupled with AI technology has maximised the possibilities of the medical industry. Doctors, physicians, and other people are being drawn to the equipment finance market by this, which is the main reason driving demand. Due to the very sophisticated and expensive equipment, hospitals and diagnostic centres have chosen financing. The cost of importing some medical equipment from China has gone up as a result of the trade spat between the U.S. and China. Because of the rising cost of medical equipment as a result of these issues, end users are being forced to choose medical equipment finance as a method of payment. The development of cutting-edge medical technology has also been fueled by the rising prevalence of chronic diseases, which will enable doctors to treat patients effectively.
Segment Dynamics
The Medical equipment financing market is fragmented into device type, device finance type and end-user segments. Based on the device type, the diagnostic equipment segment is anticipated to dominate the market. By device finance type, the new medical equipment segment of the market is projected to grow at the highest rate (CAGR) during the forecast period. By end user, the hospital segment is expected to hold the majority of the market share.
Competitive Insights
The Medical equipment financing market is highly competitive in nature with the presence of local & international players. Major players in the industry engage in strategic mergers & acquisitions, partnerships, and new product launches to remain competent in the market. For example, in February 2023, First Horizon and Toronto-Dominion Bank signed an agreement for TD to acquire First Horizon in an all-cash transaction valued at approximately USD 13.0 billion.
The report begins with an overview of the Industry Chain structure, and describes the industry environment, then analyses market size and forecast of Medical equipment financings by type, region, and application. In addition, this report introduces the market competition situation among the vendors and company profile,, market price analysis and value chain features are covered in this report.
Company Coverage (Company Profile, Sales Revenue, Price, Gross Margin, Main Products etc.):
- Bajaj Finserv
- Blue Bridge Financial
- CMS Funding, First
- American Healthcare Finance
- HDFC Bank
- HeroFinCorp
- JPMorgan Chase & Co.
- Kabbage (American Express)
- National Funding
- SMC Finance
- Societe Generale S.A.
- TIA Bank
- Toronto-Dominion Bank
- Truist Bank
Device Type Coverage (Market Size & Forecast, Main Consumer Analysis, etc.):
- Diagnostic equipment
- Therapeutic equipment
- Patient monitoring equipment
- Others
Device Finance Type Coverage (Market Size & Forecast, Main Consumer Analysis, etc.):
- New Medical Equipment
- Rental Equipment
- Refurbished Equipment
- Other
End User Coverage (Market Size & Forecast, Main Consumer Analysis etc.):
- Hospitals
- Clinics
- Diagnostic centres
- Laboratories
- Research labs
- Speciality centres
Region Coverage (Regional Consumption, Demand & Forecast by Countries etc.):
- North America (U.S., and Canada)
- Europe (Germany, U.K., France, Italy, Spain etc.)
- Asia-Pacific (China, India, Japan, Indonesia, Malaysia, Australia, South Korea, etc.)
- South America (Brazil, Mexico, Argentina etc.)
- Middle East & Africa (Saudi Arabia, Kuwait, UAE, South Africa etc.)
Table Of Content
TABLE OF CONTENT
1. Medical equipment financing Market Overview
1.1. Product Overview and Scope of Medical equipment financing
1.2. Global Market Growth Prospects and Revenue Estimates
1.3. Global Medical equipment financing Market Size Growth Rate Analysis by Device Type, 2023 VS 2032
1.3.1. Diagnostic equipment
1.3.2. Therapeutic equipment
1.3.3. Patient monitoring equipment
1.3.4. Others
1.4. Global Medical equipment financing Consumption Comparison by Device Finance Type: 2023 VS 2032
1.4.1. New Medical Equipment
1.4.2. Rental Equipment
1.4.3. Refurbished Equipment
1.4.4. Other
1.5. Global Medical equipment financing Consumption Comparison by End User: 2023 VS 2032
1.5.1. Hospitals
1.5.2. Clinics
1.5.3. Diagnostic centres
1.5.4. Laboratories
1.5.5. Research labs
1.5.6. Speciality centres
1.6. Global Medical equipment financing Market Size Estimates and Forecasts by Region: 2023 VS 2032
1.6.1. North America Medical equipment financing Estimates
1.6.2. Europe Medical equipment financing Estimates
1.6.3. China Medical equipment financing Estimates
1.6.4. Japan Medical equipment financing Estimates
2. Market Competition by Manufacturers
2.1. Global Medical equipment financing Revenue Market Share by Manufacturers (2020)
2.2. Medical equipment financing Market Share by Company Device Type (Tier 1, Tier 2 and Tier 3)
2.3. Global Medical equipment financing Average Price by Manufacturers (2023- 2032)
2.4. Manufacturers Medical equipment financing Production Sites, Area Served, Product Device Types
2.5. Medical equipment financing Market Competitive Situation and Trends
2.5.1. Medical equipment financing Market Concentration Rate
2.5.2. Mergers & Acquisitions, Expansion
3. Global Medical equipment financing Consumption by Region (2023- 2032)
3.1. Global Medical equipment financing Consumption by Region
3.2. Global Medical equipment financing Consumption Market Share by Region
3.2.1. North America
3.2.2. North America Medical equipment financing Consumption Growth Rate (2023- 2032)
3.2.3. North America Medical equipment financing Consumption, Price and Gross Margin (2023- 2032)
3.2.4. North America Medical equipment financing Consumption by Country
3.2.4.1. U.S.
3.2.4.2. Canada
3.2.5. Europe
3.2.6. Europe Medical equipment financing Consumption Growth Rate (2023- 2032)
3.2.7. Europe Medical equipment financing Consumption, Price and Gross Margin (2023- 2032)
3.2.8. Europe Medical equipment financing Consumption by Country
3.2.8.1. Germany
3.2.8.2. U.K.
3.2.8.3. France
3.2.8.4. Italy
3.2.8.5. Spain
3.2.9. Asia Pacific
3.2.10. Asia Pacific Medical equipment financing Consumption Growth Rate (2023- 2032)
3.2.11. Asia Pacific Medical equipment financing Consumption, Price and Gross Margin (2023- 2032)
3.2.12. Asia Pacific Medical equipment financing Consumption by Country
3.2.12.1. China
3.2.12.2. India
3.2.12.3. Japan
3.2.12.4. Indonesia
3.2.12.5. Malaysia
3.2.12.6. Australia
3.2.12.7. South Korea
3.2.13. South America
3.2.14. South America Medical equipment financing Consumption Growth Rate (2023- 2032)
3.2.15. South America Medical equipment financing Consumption, Price and Gross Margin (2023- 2032)
3.2.16. South America Medical equipment financing Consumption by Country
3.2.16.1. Brazil
3.2.16.2. Mexico
3.2.16.3. Argentina
3.2.17. Middle East and Africa
3.2.18. Middle East and Africa Medical equipment financing Consumption Growth Rate (2023- 2032)
3.2.19. Middle East and Africa Medical equipment financing Consumption, Price and Gross Margin (2023- 2032)
3.2.20. Middle East and Africa Medical equipment financing Consumption by Country
3.2.20.1. Saudi Arabia
3.2.20.2. Kuwait
3.2.20.3. UAE
3.2.20.4. South Africa
4. Global Medical equipment financing Consumption by Device Type (2023- 2032)
4.1. Global Medical equipment financing Price by Device Type (2023- 2032)
4.2. Global Medical equipment financing Revenue Market Share by Device Type (2023- 2032)
4.2.1. Diagnostic equipment
4.2.2. Therapeutic equipment
4.2.3. Patient monitoring equipment
4.2.4. Others
5. Global Medical equipment financing Consumption by Device Finance Type (2023- 2032)
5.1. Global Medical equipment financing Price by Device Finance Type (2023- 2032)
5.2. Global Medical equipment financing Revenue Market Share by Device Finance Type (2023- 2032)
5.2.1. New Medical Equipment
5.2.2. Rental Equipment
5.2.3. Refurbished Equipment
5.2.4. Other
6. Global Medical equipment financing Consumption by End User (2023- 2032)
6.1. Global Medical equipment financing Price by End User (2023- 2032)
6.2. Global Medical equipment financing Revenue Market Share by End User (2023- 2032)
6.2.1. Hospitals
6.2.2. Clinics
6.2.3. Diagnostic centres
6.2.4. Laboratories
6.2.5. Research labs
6.2.6. Speciality centres
7. Key Companies Profiled
7.1. Bajaj Finserv
7.1.1. Bajaj Finserv Medical equipment financing Corporation Information
7.1.2. Bajaj Finserv Medical equipment financing Product Portfolio
7.1.3. Bajaj Finserv Medical equipment financing Consumption, Price and Gross Margin (2023- 2032)
7.1.4. Bajaj Finserv Main Business and Markets Served
7.1.5. Bajaj Finserv Recent Developments/Updates
7.2. Blue Bridge Financial
7.3. CMS Funding, First
7.4. American Healthcare Finance
7.5. HDFC Bank
7.6. HeroFinCorp
7.7. JPMorgan Chase & Co.
7.8. Kabbage (American Express)
7.9. National Funding
7.10. SMC Finance
7.11. Societe Generale S.A.
7.12. TIA Bank
7.13. Toronto-Dominion Bank
7.14. Truist Bank
8. Marketing Channel, Distributors and Customers
8.1. Marketing Channel
8.2. Medical equipment financing Distributors List
8.3. Medical equipment financing Customers
9. Market Dynamics
9.1. Medical equipment financing Industry Trends
9.2. Medical equipment financing Growth Drivers
9.3. Medical equipment financing Market Challenges
9.4. Medical equipment financing Market Restraints
10. Global Medical equipment financing Consumption and Demand Forecast, by Region (2023-2032)
10.1. Global Forecasted Demand Analysis of Medical equipment financing, by Regions and Country
10.1.1. North America Forecasted Consumption of Medical equipment financing by Country
10.1.2. Europe Market Forecasted Consumption of Medical equipment financing by Country
10.1.3. Asia Pacific Market Forecasted Consumption of Medical equipment financing by Region
10.1.4. Latin America Forecasted Consumption of Medical equipment financing by Country
10.1.5. Middle East and Africa Forecasted Consumption of Medical equipment financing by Country
11. Global Medical equipment financing Consumption and Demand Forecast, by Device Type Segments (2023-2032)
11.1. Global Forecasted Consumption of Medical equipment financing by Device Type Segments (2023-2032)
11.2. Global Consumption and Price Forecast by Device Type Segments (2023-2032)
11.3. Global Forecasted Growth Rate of Medical equipment financing by Device Type Segments (2023-2032)
12. Global Medical equipment financing Consumption and Demand Forecast, by Device Finance Type Segments (2023-2032)
12.1. Global Forecasted Consumption of Medical equipment financing by Device Finance Type Segments (2023-2032)
12.2. Global Consumption and Price Forecast by Device Finance Type Segments (2023-2032)
12.3. Global Forecasted Growth Rate of Medical equipment financing by Device Finance Type Segments (2023-2032)
13. Global Medical equipment financing Consumption and Demand Forecast, by End User Segments (2023-2032)
13.1. Global Forecasted Consumption of Medical equipment financing by End User Segments (2023-2032)
13.2. Global Consumption and Price Forecast by End User Segments (2023-2032)
13.3. Global Forecasted Growth Rate of Medical equipment financing by End User Segments (2023-2032)
14. Research Finding and Conclusion
15. Methodology and Data Source
15.1. Methodology/Research Approach
15.1.1. Research Programs/Device Type
15.1.2. Market Size Estimation
15.1.3. Market Breakdown and Data Triangulation
15.2. Data Source
15.2.1. Secondary Sources
15.2.2. Primary Sources
15.3. Author List
15.4. Disclaimer
Research Methodology
Our research studies are primarily performed in five phases which include Secondary Research, Primary Research, Subject Matter Expert Advice, Quality Check, and Final Review. The process opted for conducting thorough research to make authentic business reports is briefly described below-
Secondary Research-
- Based on the understanding of requirements, we conducted secondary research to identify the Segment specifications, qualitative and quantitative data along with the factors responsible for the growth of the market.
- The secondary sources referred for the study include press releases, company annual reports, and research papers related to the industry.
- Various sources such as industry magazines, trade journals, government websites, and associations were also reviewed for gathering precise analysis on opportunities for business expansions in the market.
- Moreover, quantitative as well as qualitative data were also extracted from paid databases, which included Reuters, Factiva, Bloomberg, One Source, and Hoovers, which proved to be useful for in-depth technical study of the market.
Primary Research-
- The research carried out during the desk research was verified by primary interviews. Primary research was scheduled with a number of industry experts for conducting telephonic interviews, and also our team send questionnaires through their official emails.
- The secondary data collected was then verified by various industry participants which included Segment managers, marketing managers, VPs, CEOs, purchasing managers, subject matter experts.
- An interview with the mentioned participants aids invalidation of our research findings regarding the Segment.
- It helps in the provision of first-hand data on factors such as market size, growth, regional trends, market trends, and competition in the industry. This approach makes our findings precise in order to help our clients in strategic decision-making processes.
Subject Matter Advice-
- The secondary and primary research key findings were then validated by the in-house subject matter experts having extensive experience in the market research industry.
- Specific requirements of the clients were reviewed by the experts to check for completion of the market study. Experts help in channelizing the representation skills of the analyst in terms of providing data that can be easily understood by our customers.
Quality Check-
- The analysis done by the research team was further reviewed to check for data accuracy provided to suit the clients’ specific requirements.
- This revision was done in various phases to check the data authenticity and to remove negligible errors in the final compilation.
Final Review-
- After the quality check, a final review of the report was done to look after the presentation, formatting, and to recheck if all the requirements of the clients were addressed. The next phase remains dispatch of the report to the client.
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