Medical Equipment Financing Market to surpass USD 265.61 Billion by 2030 owing to continuous advances in technology and innovation characterise the healthcare sector.

Based on SNS Insider's research, the investments in new equipment can be encouraged by government policies and incentives, e.g. tax credits or grants to healthcare providers. Providers may be able to take advantage of these incentives through financing for medical equipment.

Market Size-

The SNS Insider report indicates that the Medical Equipment Financing Market was valued at USD 126.65 Billion in 2022, and is expected to reach market size of USD 265.61 Billion by 2030, with a compound annual growth rate (CAGR) of 9.7% expected over the forecast period from 2023 to 2030.

Market Report Scope -

The demand for healthcare services is increasing as the world's population ages and increases. This demand includes the need for healthcare equipment, and in order to provide a high quality of care providers are able to acquire the necessary tools through medical device financing. The development of medical technology has made it possible to develop new and innovative healthcare products such as imaging machines, surgical robots or telemedicine tools.

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Key players
-HDFC Bank,
-CMS Funding,
-National Funding,
-Macquarie Group Limited,
-TIAA Bank,
-Toronto-Dominion Bank,
-Société General S.A.,
-Bajaj Fiserv,
-First American Healthcare Finance,
-Amur Equipment Finance
-and other players.

Market Opportunities -

Technological innovation is an opportunity in the medical equipment finance market.
The health care sector is characterised by continuous technological innovations. New healthcare equipment and devices are constantly being put into service with a view to improving the treatment and outcomes for patients. Financing institutions can take advantage of this opportunity by providing funding solutions enabling healthcare professionals to stay at the forefront of health care technology.

Segmentation Analysis -

Based on equipment, the diagnostic equipment market was estimated to be worth USD 48.3 billion by 2022. In developing countries, due to improved healthcare infrastructure and an explosion in the health sector, there is a growing demand for premium, quality and innovative medical services. In view of the growing demand for technologically improved health care, which is very costly to acquire, new and innovative technologies have been developed in order to deliver these treatments as well as related services. More diagnostic centres are expected to be set up, given the increased incidence of infectious diseases and improvements in diagnosis technologies.

By Device Type

-Therapeutic Equipment, Diagnostic Equipment
-Therapeutic Equipment
-Others

By End User

-Laboratories and Diagnostic Centers
-Hospitals & Clinics
-Others

Diagnostic instruments should be developed according to the end user, in order to promote expansion of diagnostic centres and laboratories. The hospital and clinic sector will continue to lead the market until 2022. Factors such as increased investment in infrastructure management and growing demand for surgical procedures by patients at clinics and hospitals may have contributed to this dominance. Due to the availability of current healthcare infrastructure and an increase in patients' preference for health care, hospitals and clinics are experiencing huge expansion.

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Key Regional Development -

North America accounted for the largest share in the global market for financial instruments due to the highest financing rates for medical equipment. In addition, its market leadership was supported by the continuous advances in medical device technology and expenditure on healthcare infrastructure. In Europe, the adoption of AI based financing for medical equipment and increased spending on healthcare infrastructure has led to a second position in the region. Moreover, more clients have been attracted to the equipment finance market by medical professionals and staff with greater awareness of the financial sector. In view of the strong economic situation in a number of Eastern Europe countries, industry is expected to increase over the forecast period.

The expansion of the financial sector, as well as the construction of state hospitals and diagnostic centres in emerging economies is projected to accelerate Asia Pacific growth at a faster rate.

Key Takeaway from Medical Equipment Financing Market Study-

To provide detailed information on the main drivers, restraints, opportunities and challenges that are affecting market growth.

Strategically analyse micro markets with regard to individual growth trends, prospects and market shares in the overall market.

To analyse the Porter's five forces analysis with a view to providing an overview of the value chain and analysing market trends.

Recent Development Related to Medical Equipment Financing Market -

In May 2023, TorontoDominionBank,TD Bank and First Horizon mutually ended their USD 13 billion merger agreement due to the legal challenges facing them.

In November 2022, Santander Bank, a wholly owned subsidiary of the Spanish Santander Group, announced that the company is expanding its Commercial Equipment and Vehicle Finance business. The company will be able to provide funding for the purchase of business equipment by healthcare organisations. It's a national offer, including funding for the latest technology in medical equipment and healthcare

In August 2022, Poonawalla Fincorp has reported that it is revising its product range and suite, with a view to adopting the retail business model. The company's portfolio, with the recent changes, includes loans for businesses, medical equipment, personal use, financing supply chain, and machine loans. The company is expected to be able to take advantage of new growth conditions

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Table of Contents

1.Introduction

2.Research Methodology

3.Market Dynamics

4.Impact Analysis

4.1COVID-19 Impact Analysis

4.2.Impact of Ukraine- Russia war

4.3.Impact of Ongoing Recession on Major Economies

5.Value Chain Analysis

6.Porter's 5 Forces Model

7.PEST Analysis

8.Medical Equipment Financing Market Segmentation, By Device Type

9.Medical Equipment Financing Market Segmentation, By End User

10.Regional Analysis

11. Company Profile

12.Conclusion

continued

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