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Healthcare Equipment Leasing Market 2024-2033 - Size, Growth, Competitive Landscape
Healthcare Equipment Leasing Market
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According to The Business Research Company's, The healthcare equipment leasing market size has grown strongly in recent years. It will grow from $54.38 billion in 2023 to $59.58 billion in 2024 at a compound annual growth rate (CAGR) of 9.6%. The growth in the historic period can be attributed to the increased focus on supply chain efficiency, rise in personalized medicine, growth in veterinary healthcare, rise in demand for rehabilitation equipment, and rise in outpatient services.
The healthcare equipment leasing market size is expected to see strong growth in the next few years. It will grow to $86.42 billion in 2028 at a compound annual growth rate (CAGR) of 9.7%. The growth in the forecast period can be attributed to the rising number of hospitals and clinics, rising companies for medical equipment lease, increasing demand for advanced medical equipment, increasing costs of medical equipment, and growing healthcare infrastructure. Major trends in the forecast period include sustainability, telehealth and remote monitoring, data security and integration, equipment utilization optimization, adoption of value-based care models, and specialized equipment leasing.
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Market Drivers and Trends:
The rising number of hospitals is expected to fuel the growth of the healthcare equipment leasing market going forward. Hospitals refer to healthcare facilities that provide medical care and treatment to patients. A combination of demographic changes drives the need for hospitals, the rise in chronic diseases, population growth, increased health awareness, and expanded health insurance coverage. Hospitals create a need for healthcare equipment leasing due to the continuous demand for advance medical technology. For instance, in May 2021, according to the American Hospital Association, a US-based organization of hospitals, healthcare networks, and patients, the number of US community hospitals increased from 5,139 in 2020 to 5,157 in 2021, and the number of rural hospitals rose from 1,796 to 1,800 during the same period. Therefore, the rising number of hospitals and clinics is driving the growth of the healthcare equipment leasing market.
Major companies operating in the healthcare equipment leasing market are providing flexible financing options to help healthcare providers get advanced equipment. Flexible financing options refer to a range of financial arrangements or plans that offer versatility and adaptability to meet the needs of borrowers or buyers. For instance, in June 2024, Capital MBS, a US-based marketplace of funding options, launched flexible financing options for the medical and dental sectors, partnering with trusted banks to enable healthcare providers to acquire advanced equipment without hefty upfront costs or delays. The option includes financing diagnostic tools such as MRI, CT scanners, X-ray systems, surgical instruments, dental technologies, patient care equipment, and laboratory instruments. An online application process facilitates quick access to these financing solutions, helping healthcare professionals secure the funding for essential medical technology.
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Major Key Players of the Market:
McKesson Corporation, Stryker Corporation, Far East Horizon Limited, Hill-Rom Holdings Inc., Getinge AB, Genertec Universal Medical Group, Encore Medical Capital, Agiliti Inc., CWB Financial Group, Meridian Group International Inc., Crossroads Equipment Lease and Finance, AvTech Capital LLC, United Leasing & Finance, Med One Group, Providence Capital Funding Inc., Lease Corporation of America, Dext Capital LLC, Crest Capital, Oak Leasing Ltd, Madison Capital LLC, National Technology Leasing Corp, Insight Financial Services, Liberty Capital Group
Healthcare Equipment Leasing Market 2024 Key Insights:
• The healthcare equipment leasing market size is expected to see strong growth in the next few years. It will grow to $86.42 billion in 2028 at a compound annual growth rate (CAGR) of 9.7%.
• Increasing Hospitals Propel Growth Of The Healthcare Equipment Leasing Market
• Healthcare Equipment Leasing Market Advances With Flexible Financing Solutions
• North America was the largest region in the healthcare equipment leasing market in 2023
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