Global Medical Equipment Financing Market by Cover Page

Medical Equipment Financing Market by Financing Types (New Medical Equipment, Refurbished Equipment, Rental Equipment, and Others), Equipment (Patient Monitoring Equipment, Therapeutic Equipment, Diagnostics Equipment, Laboratory Equipment, Medical Furniture, and Others), End-users (Clinics [Dental Clinics, Ophthalmology Clinics, and Dermatology Clinics], Hospitals, Research Labs, Laboratories & Diagnostic Centers, Ambulatory Surgical Centers, and Others), and Regions (Asia Pacific, North America, Latin America, Europe, and Middle East & Africa) - Global Industry Analysis, Growth, Share, Size, Trends, and Forecast 2022 – 2030

  • Report ID: HC-4573
  • Author: Growth Market Reports
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The global medical equipment financing market size was valued at USD 145.6 billion in 2021 and is expected to surpass USD 280.7 billion by 2030, expanding at a CAGR of 6.9% during the forecast period, 2022–2030. The growth of the market is attributed to the increasing need for regular medical equipment upgrades for better diagnostics and treatment services in hospitals, clinics, and ambulatory surgical centers.

Global Medical Equipment Financing Market by Outlook

Medical equipment financing is a process of helping healthcare institutions to get loans for the payment of medical devices purchase. Various types of flexible financing schemes are available, especially from banks through which a hospital or clinic can use to acquire more advanced medical equipment over time. The financing tenure usually extends to 3-5 years and borrowers are normally given options to purchase, renew, or return the equipment at the end of the initial term of the agreement between the borrowers and banks. This type of financial lease is well suitable for organizations having a high credit score for their business performance and promising startups having strong potential for the massive expansion in their business operations. The lease is widely practiced by large healthcare organizations as it offers one of the most financially efficient solutions for acquiring more innovative, up-to-date, and high-performance medical devices without the need to reduce a large portion of their capital. To solve the problems of the rising cost of healthcare equipment and provide the best medical service and facilities to patients at the same time, healthcare institutions require to timely apply for various financing services offered by banks or other financial service providers. Moreover, these institutions widely adopt financing from banks to secure their cash reserves, which are primarily set for handling worst-case conditions or emergency use.     

The COVID-19 pandemic had accelerated the market growth owing to the sharp increase in the need for various medical equipment for the treatment and diagnosis of corona patients across hospitals, research labs, diagnostic centers, and clinics. The surge in coronavirus cases worldwide had forced healthcare institutions to upgrade their existing infrastructure and rely on financing services to acquire medical devices including therapeutic devices, diagnostic equipment, and patient monitoring systems. Several healthcare organizations were facing financial shortages and needed a massive capital funding to meet the rising demand for medical equipment and facilities including ventilators, beds, and oxygen concentration for patients during the pandemic

Market Trends, Drivers, Restraints, and Opportunities

  • Rising demand for high-quality healthcare infrastructure and facilities for patient care and increasing need for medical devices reimbursement policies, especially in developing countries are key factors driving the market.
  • Increasing cases of chronic illness and disease infection globally, especially in developed countries presents another key driver of the market.  
  • Rapid introduction of innovative and premium medical devices offering highly accurate results and consultant service facilities for patients is expected to boost the market during the forecast period.
  • Issues concerning the delay in the approval of medical equipment for some health issues treatment and higher risk of obsolescence of medical equipment act as major challenges that can hamper the market.
  • Wide funding from banks and a rising number of private investors for funding in innovative technology and R&D programs for the development of innovative medical equipment are offering several opportunities for market growth.

Scope of the Report

The report on the global medical equipment financing market includes an assessment of the market, trends, segments, and regional markets. Overview and dynamics have also been included in the report.

Attributes

Details

Report Title

Medical Equipment Financing Market - Global Industry Analysis, Growth, Share, Size, Trends, and Forecast

Base Year

2021

Historic Data

2019–2020

Forecast Period

2022–2030

Segmentation

Financing Types (New Medical Equipment, Refurbished Equipment, Rental Equipment, and Others), Equipment (Patient Monitoring Equipment, Therapeutic Equipment, Diagnostics Equipment, Laboratory Equipment, Medical Furniture, and Others), and End-users (Clinics [Dental Clinics, Ophthalmology Clinics, and Dermatology Clinics], Hospitals, Research Labs, Laboratories & Diagnostic Centers, Ambulatory Surgical Centers, and Others)

Regional Scope

Asia Pacific, North America, Latin America, Europe, and Middle East & Africa

Report Coverage

Company Share, Market Analysis and Size, Competitive Landscape, Growth Factors, and Trends, and Revenue Forecast

Key Players Covered in the Report

Bajaj Finserv; JPMorgan Chase & Co.; Blue Bridge Financial, LLC; Toronto-Dominion Bank; Société General S.A.; Kabbage (American Express); TIAA Bank; CMS Funding; First American Healthcare Finance; HDFC Bank; Hero FinCorp; National Funding; SMC Finance; Truist Financial Corporation; Amur Equipment Finance; and Macquarie Group Limited

 

Market Segment Insights

Refurbished equipment segment to expand at a robust growth rate

Based on financing types, the global medical equipment financing market is segmented into new medical equipment, refurbished equipment, rental equipment, and others. The refurbished equipment segment held a major share, which was worth more than USD 15.9 billion in 2021 and is expected to expand at a robust growth rate during the forecast period. The segment growth is attributed to the rising demand for refurbished medical devices from healthcare institutions due to the cheaper price of the devices with guaranteed service from manufacturers and the high cost of medical equipment maintenance. These reconditioned devices are usually available for 20-40 percent less price as compared to original or new medical equipment. Moreover, the increasing availability of refurbished equipment in e-commerce platforms opens up various opportunities for segment growth in the coming years.  

Expensive prices of diagnostic medical devices drive the diagnostic equipment segment

In terms of equipment, the market is divided into patient monitoring equipment, therapeutic equipment, diagnostics equipment, laboratory equipment, medical furniture, and others. The diagnostics equipment segment accounted for a dominant market share in 2021, which was valued at around USD 45.5 billion for the same year. The segment is expected to exhibit steady growth during the targeted period owing to the expensive prices of diagnostic medical devices and the rising need for highly-efficient and accurate equipment for disease diagnosis. Moreover, rising competition for acquiring advanced diagnostic and treatment devices with superior healthcare facilities further boosts the segment.   

Global Medical Equipment Financing Market by Equipment

Ambulatory surgical centers segment to register a considerable CAGR

On the basis of end-users, the global medical equipment financing market is segregated into clinics, hospitals, research labs, laboratories & diagnostic centers, ambulatory surgical centers, and others. The clinics segment is further segmented into dental clinics, ophthalmology clinics, and dermatology clinics. The ambulatory surgical centers (ASCs) segment is projected to register a considerable CAGR during the forecast period owing to the rising demand for ASCs for various surgical treatments as it offers same-day surgery options and an economical treatment alternative for patients. The rapid adoption of advanced endoscopic and laparoscopic surgical treatment in ASCs is another key factor driving the segment.

North America to dominate the market

In terms of regions, the market is classified as Asia Pacific, North America, Latin America, Europe, and Middle East & Africa. North America constituted around 42% of the total revenue share of the market in 2021 and is expected to dominate the market during the projected period owing to the rapid adoption of advanced medical equipment in hospitals, clinics, and ambulatory surgical centers in the region. The presence of key global players and their focus on developing innovative medical devices for better diagnostic results and treatment methods for patients require a large sum of capital funding. The wide prevalence of chronic illnesses and the presence of a large pool of the geriatric population who are at high risk of exposing to several chronic diseases are pushing the regional market growth further.    

On the other hand, the market of Asia Pacific is anticipated to account for a key market share in the coming years due to the increasing need for superior medical technology and equipment for better healthcare service for patients. Rising number of the regional population and increasing government participation in the development of advanced healthcare systems and infrastructure among major economies such as India, China, Japan, and South Korea are key other factors boosting the market in the region.  

Global Medical Equipment Financing Market by Regions 

Segments

The global medical equipment financing market has been segmented on the basis of

Financing Types

  • New Medical Equipment
  • Refurbished Equipment
  • Rental Equipment
  • Others

Equipment

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

End-users

  • Clinics
    • Dental Clinics
    • Ophthalmology Clinics
    • Dermatology Clinics
  • Hospitals
  • Research Labs
  • Laboratories & Diagnostic Centers
  • Ambulatory Surgical Centers
  • Others

Regions

  • Asia Pacific
  • North America
  • Latin America
  • Europe
  • Middle East & Africa

Key Players

  • Bajaj Finserv
  • JPMorgan Chase & Co.
  • Blue Bridge Financial, LLC
  • Toronto-Dominion Bank
  • Société General S.A.
  • Kabbage (American Express)
  • TIAA Bank
  • CMS Funding
  • First American Healthcare Finance
  • HDFC Bank
  • Hero FinCorp
  • National Funding
  • SMC Finance
  • Truist Financial Corporation
  • Amur Equipment Finance 
  • Macquarie Group Limited

Competitive Landscape

Key players competing in the global medical equipment financing market are Bajaj Finserv; JPMorgan Chase & Co.; Blue Bridge Financial, LLC; Toronto-Dominion Bank; Société General S.A.; Kabbage (American Express); TIAA Bank; CMS Funding; First American Healthcare Finance; HDFC Bank; Hero FinCorp; National Funding; SMC Finance; Truist Financial Corporation; Amur Equipment Finance; and Macquarie Group Limited. Some of these players have adopted a series of business development strategies including merger and acquisition, entering into partnerships and collaboration, and R&D program funding to strengthen their market position.
For instance,

  • In February 2022, a leading Canada-based financial service provider, Toronto-Dominion Bank announced that it signed a deal worth USD 13.4 billion to acquire a US-based bank holding company, First Horizon Corp. with a view to the expansion of its financing service across south-eastern parts of the US.

 Global Medical Equipment Financing Market by Key Players

1. Executive Summary
2. Assumptions and Acronyms Used
3. Research Methodology
4. Medical Equipment Financing Market Overview
  4.1. Introduction
     4.1.1. Market Taxonomy
     4.1.2. Market Definition
  4.2. Macro-Economic Factors
     4.2.1. Industry Outlook
  4.3. Medical Equipment Financing Market Dynamics
     4.3.1. Market Drivers
     4.3.2. Market Restraints
     4.3.3. Opportunity
     4.3.4. Market Trends
  4.4. Medical Equipment Financing Market - Supply Chain
  4.5. Global Medical Equipment Financing Market Forecast
     4.5.1. Medical Equipment Financing Market Size (US$ Mn) and Y-o-Y Growth
     4.5.2. Medical Equipment Financing Market Size (000’ Units) and Y-o-Y Growth
     4.5.3. Medical Equipment Financing Market Absolute $ Opportunity
5. Global Medical Equipment Financing Market Analysis and Forecast by End Users
  5.1. Market Trends
  5.2. Introduction
     5.2.1. Basis Point Share (BPS) Analysis by End Users
     5.2.2. Y-o-Y Growth Projections by End Users
  5.3. Medical Equipment Financing Market Size and Volume Forecast by End Users
     5.3.1. Clinics Dental Clinics Ophthalmology Clinics Dermatology Clinics Hospitals
     5.3.2. Research Labs
     5.3.3. Laboratories & Diagnostic Centers
     5.3.4. Ambulatory Su
  5.4. Absolute $ Opportunity Assessment by End Users
  5.5. Market Attractiveness/Growth Potential Analysis by End Users
6. Global Medical Equipment Financing Market Analysis and Forecast by Region
  6.1. Market Trends
  6.2. Introduction
     6.2.1. Basis Point Share (BPS) Analysis by Region
     6.2.2. Y-o-Y Growth Projections by Region
  6.3. Medical Equipment Financing Market Size and Volume Forecast by Region
     6.3.1. North America
     6.3.2. Latin America
     6.3.3. Europe
     6.3.4. Asia Pacific
     6.3.5. Middle East and Africa (MEA)
  6.4. Absolute $ Opportunity Assessment by Region
  6.5. Market Attractiveness/Growth Potential Analysis by Region
  6.6. Global Medical Equipment Financing Demand Share Forecast, 2019-2026
7. North America Medical Equipment Financing Market Analysis and Forecast
  7.1. Introduction
     7.1.1. Basis Point Share (BPS) Analysis by Country
     7.1.2. Y-o-Y Growth Projections by Country
  7.2. North America Medical Equipment Financing Market Size and Volume Forecast by Country
     7.2.1. U.S.
     7.2.2. Canada
  7.3. Absolute $ Opportunity Assessment by Country
  7.4. North America Medical Equipment Financing Market Size and Volume Forecast by End Users
     7.4.1. Clinics Dental Clinics Ophthalmology Clinics Dermatology Clinics Hospitals
     7.4.2. Research Labs
     7.4.3. Laboratories & Diagnostic Centers
     7.4.4. Ambulatory Su
  7.5. Basis Point Share (BPS) Analysis by End Users
  7.6. Y-o-Y Growth Projections by End Users
  7.7. Market Attractiveness/Growth Potential Analysis
     7.7.1. By Country
     7.7.2. By Product Type
     7.7.3. By Application
  7.8. North America Medical Equipment Financing Demand Share Forecast, 2019-2026
8. Latin America Medical Equipment Financing Market Analysis and Forecast
  8.1. Introduction
     8.1.1. Basis Point Share (BPS) Analysis by Country
     8.1.2. Y-o-Y Growth Projections by Country
     8.1.3. Latin America Average Pricing Analysis
  8.2. Latin America Medical Equipment Financing Market Size and Volume Forecast by Country
      8.2.1. Brazil
      8.2.2. Mexico
      8.2.3. Rest of Latin America
   8.3. Absolute $ Opportunity Assessment by Country
  8.4. Latin America Medical Equipment Financing Market Size and Volume Forecast by End Users
     8.4.1. Clinics Dental Clinics Ophthalmology Clinics Dermatology Clinics Hospitals
     8.4.2. Research Labs
     8.4.3. Laboratories & Diagnostic Centers
     8.4.4. Ambulatory Su
  8.5. Basis Point Share (BPS) Analysis by End Users
  8.6. Y-o-Y Growth Projections by End Users
  8.7. Market Attractiveness/Growth Potential Analysis
     8.7.1. By Country
     8.7.2. By Product Type
     8.7.3. By Application
  8.8. Latin America Medical Equipment Financing Demand Share Forecast, 2019-2026
9. Europe Medical Equipment Financing Market Analysis and Forecast
  9.1. Introduction
     9.1.1. Basis Point Share (BPS) Analysis by Country
     9.1.2. Y-o-Y Growth Projections by Country
     9.1.3. Europe Average Pricing Analysis
  9.2. Europe Medical Equipment Financing Market Size and Volume Forecast by Country
     9.2.1. Germany
     9.2.2. France
     9.2.3. Italy
     9.2.4. U.K.
     9.2.5. Spain
     9.2.6. Russia
     9.2.7. Rest of Europe
  9.3. Absolute $ Opportunity Assessment by Country
  9.4. Europe Medical Equipment Financing Market Size and Volume Forecast by End Users
     9.4.1. Clinics Dental Clinics Ophthalmology Clinics Dermatology Clinics Hospitals
     9.4.2. Research Labs
     9.4.3. Laboratories & Diagnostic Centers
     9.4.4. Ambulatory Su
  9.5. Basis Point Share (BPS) Analysis by End Users
  9.6. Y-o-Y Growth Projections by End Users
  9.7. Market Attractiveness/Growth Potential Analysis
     9.7.1. By Country
     9.7.2. By Product Type
     9.7.3. By Application
  9.8. Europe Medical Equipment Financing Demand Share Forecast, 2019-2026
10. Asia Pacific Medical Equipment Financing Market Analysis and Forecast
  10.1. Introduction
     10.1.1. Basis Point Share (BPS) Analysis by Country
     10.1.2. Y-o-Y Growth Projections by Country
     10.1.3. Asia Pacific Average Pricing Analysis
  10.2. Asia Pacific Medical Equipment Financing Market Size and Volume Forecast by Country
     10.2.1. China
     10.2.2. Japan
     10.2.3. South Korea
     10.2.4. India
     10.2.5. Australia
     10.2.6. Rest of Asia Pacific (APAC)
  10.3. Absolute $ Opportunity Assessment by Country
  10.4. Asia Pacific Medical Equipment Financing Market Size and Volume Forecast by End Users
     10.4.1. Clinics Dental Clinics Ophthalmology Clinics Dermatology Clinics Hospitals
     10.4.2. Research Labs
     10.4.3. Laboratories & Diagnostic Centers
     10.4.4. Ambulatory Su
  10.5. Basis Point Share (BPS) Analysis by End Users
  10.6. Y-o-Y Growth Projections by End Users
  10.7. Market Attractiveness/Growth Potential Analysis
     10.7.1. By Country
     10.7.2. By Product Type
     10.7.3. By Application
  10.8. Asia Pacific Medical Equipment Financing Demand Share Forecast, 2019-2026
11. Middle East & Africa Medical Equipment Financing Market Analysis and Forecast
  11.1. Introduction
     11.1.1. Basis Point Share (BPS) Analysis by Country
     11.1.2. Y-o-Y Growth Projections by Country
     11.1.3. Middle East & Africa Average Pricing Analysis
  11.2. Middle East & Africa Medical Equipment Financing Market Size and Volume Forecast by Country
     11.2.1. Saudi Arabia
     11.2.2. South Africa
     11.2.3. UAE
     11.2.4. Rest of Middle East & Africa (MEA)
  11.3. Absolute $ Opportunity Assessment by Country
  11.4. Middle East & Africa Medical Equipment Financing Market Size and Volume Forecast by End Users
     11.4.1. Clinics Dental Clinics Ophthalmology Clinics Dermatology Clinics Hospitals
     11.4.2. Research Labs
     11.4.3. Laboratories & Diagnostic Centers
     11.4.4. Ambulatory Su
  11.5. Basis Point Share (BPS) Analysis by End Users
  11.6. Y-o-Y Growth Projections by End Users
  11.7. Market Attractiveness/Growth Potential Analysis
     11.7.1. By Country
     11.7.2. By Product Type
     11.7.3. By Application
  11.8. Middle East & Africa Medical Equipment Financing Demand Share Forecast, 2019-2026
12. Competition Landscape
  12.1. Global Medical Equipment Financing Market: Market Share Analysis
  12.2. Medical Equipment Financing Distributors and Customers
  12.3. Medical Equipment Financing Market: Competitive Dashboard
  12.4. Company Profiles (Details: Overview, Financials, Developments, Strategy)
     12.4.1. Bajaj Finserv JPMorgan Chase & Co. Blue Bridge Financial, LLC Toronto-Dominion Bank Société General S.A. Kabbage (American Express)  

The global medical equipment financing market has been segmented on the basis of

Financing Types

  • New Medical Equipment
  • Refurbished Equipment
  • Rental Equipment
  • Others

Equipment

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

End-users

  • Clinics
    • Dental Clinics
    • Ophthalmology Clinics
    • Dermatology Clinics
  • Hospitals
  • Research Labs
  • Laboratories & Diagnostic Centers
  • Ambulatory Surgical Centers
  • Others

Regions

  • Asia Pacific
  • North America
  • Latin America
  • Europe
  • Middle East & Africa

Key Players

  • Bajaj Finserv
  • JPMorgan Chase & Co.
  • Blue Bridge Financial, LLC
  • Toronto-Dominion Bank
  • Société General S.A.
  • Kabbage (American Express)
  • TIAA Bank
  • CMS Funding
  • First American Healthcare Finance
  • HDFC Bank
  • Hero FinCorp
  • National Funding
  • SMC Finance
  • Truist Financial Corporation
  • Amur Equipment Finance 
  • Macquarie Group Limited

Key players competing in the global medical equipment financing market are Bajaj Finserv; JPMorgan Chase & Co.; Blue Bridge Financial, LLC; Toronto-Dominion Bank; Société General S.A.; Kabbage (American Express); TIAA Bank; CMS Funding; First American Healthcare Finance; HDFC Bank; Hero FinCorp; National Funding; SMC Finance; Truist Financial Corporation; Amur Equipment Finance; and Macquarie Group Limited. Some of these players have adopted a series of business development strategies including merger and acquisition, entering into partnerships and collaboration, and R&D program funding to strengthen their market position.
For instance,

  • In February 2022, a leading Canada-based financial service provider, Toronto-Dominion Bank announced that it signed a deal worth USD 13.4 billion to acquire a US-based bank holding company, First Horizon Corp. with a view to the expansion of its financing service across south-eastern parts of the US.

 Global Medical Equipment Financing Market by Key Players

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FAQ Section

Some frequently asked quetions about this report!

The global medical equipment financing market size was valued at USD 145.6 billion in 2021 and is expected to surpass USD 280.7 billion by 2030.

The key drivers of the market include the increasing need for regular medical equipment upgrade for better diagnostics and treatment services in hospitals, clinics, and ambulatory surgical centers.

The diagnostics equipment segment accounted for a dominant market share in 2021, which was valued at around USD 45.5 billion for the same year.

North America constituted around 42% of the total revenue share of the market in 2021 and is expected to dominate the market during the projected period.

The refurbished equipment segment held a major share, which was worth more than USD 15.9 billion in 2021 and is expected to expand at a robust growth rate during the forecast period.

The key players of the market are Bajaj Finserv; JPMorgan Chase & Co.; Blue Bridge Financial, LLC; Toronto-Dominion Bank; Société General S.A.; Kabbage (American Express); TIAA Bank; CMS Funding; First American Healthcare Finance; HDFC Bank; and Hero FinCorp.