Medical Equipment Reimbursement Market Size, Growth, and Statistics 2025- 2034

Price USD 1550- According to Statifacts, the global Medical Equipment Reimbursement market trends are estimated to be worth USD 586 million in 2024 and are anticipated to reach a value of USD 1,756 million by 2034. Sales are projected to rise at a CAGR of 11.6% over the forecast period between 2024 and 2034.

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Medical device reimbursement is defined as the payment a private insurer pays to healthcare providers for costs the provider incurred while using medical devices. Usually, the health insurer or government payers cover the patients' healthcare expenses inclusive of medical device use. Technological advancements in Electronic Medical Records (EMR), rising cases of chronic diseases, and the growing need for reimbursement are certain factors driving the market.
During the COVID-19 pandemic, the demand for remote monitoring increased and now various public organizations like Medicare are providing reimbursement for remote monitoring. Remote monitoring has gained significant importance in treating patients with chronic diseases. The high burden of chronic diseases is expected to improve the demand for remote monitoring in the coming years and this is anticipated to have a positive impact on market growth.

The U.S. Affordable Care Act focuses on decreasing the costs of healthcare for patients. The main purpose of this act is to reduce medical device costs and make affordable healthcare insurance available to every person in the country. In addition, the Center for Medicaid and Medicare is working toward providing high-quality medical devices and making health insurance available for billions of people. Medicaid spending in the U.S. increased by 9.2% in 2021. Also, according to a report published by the American Medical Association, USD 4.3 trillion is estimated to have been spent on healthcare reimbursement in 2021 in the U.S.

With an increasingly aging population, healthcare expenditures will continue to increase, leading to high demand for medical devices. This is another factor that will highly impact the reimbursement industry in the long run. Other factors responsible for the growth of the market are the increasing cost of healthcare, the growing patient population, and rising awareness among people regarding health insurance policies.

Governments from various countries are providing an add-on reimbursement for medical devices post-COVID-19 pandemic. For instance, in May 2022, the French National Authority for Health provided certain recommendations for adding reimbursement on medical devices such as diagnostic imaging devices, cardiovascular and peripheral vascular devices, and interventional radiology devices. Such actions by the government are expected to support the growth of the market in the coming years.

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Government Health Programs in India to Drive the Ecosystem

The government of India is aiming to elevate the accessibility of the healthcare infrastructure in the country. The affordability of the same is aimed to improve to increase the reach among the rural population.

To cater to the growing healthcare needs of the population, various programs have been implemented. Such efforts include the growing focus on the growth of the rural infrastructure.

Such factors create prospects for the acquisition of new medical instruments, and therefore, prove to be critical drivers for the industry. Owing to the medical equipment reimbursement market's current scenario and prospects in India, the competitive space is set to advance at the highest CAGR of 13% through 2034.

Global Medical Equipment Reimbursement Market Sales Outlook Compared to Demand Forecast from 2024 to 2034

The global Medical Equipment Reimbursement market trends are estimated to be worth USD 586 million in 2024 and are anticipated to reach a value of USD 1,756 million by 2034. Sales are projected to rise at a CAGR of 11.6% over the forecast period between 2024 and 2034.

The global landscape started gaining momentum during the historical period as consumers started becoming aware of the necessity of reimbursement policies. This factor played a pivotal role in driving the demand for such policies in the healthcare sector, elevating the size of the competitive space.

Developed countries emphasized adding better facilities under the belt, focusing on the enhancement of security for the healthcare infrastructure. Pertaining to this growing awareness, healthcare service providers in developed countries adopted such policies and trends early.

Fueled by government initiatives, this early adoption phase spurred the demand for such reimbursement policies in different avenues of the healthcare sector. The rate of adoption of new digital medical instruments was also high during the era, marking the necessity of such policies.

The accelerated spread of chronic diseases surged the demand for remote patient monitoring. To cater to the demand, new monitoring equipment was introduced in the competitive space, which required to be secured. Such factors governed the historical period.

The forecast period is projected to mark the progress of emerging sectors in the competitive space. The diversification of the ecosystem is likely to be witnessed in the future. This is a key driver during the forecast era.

The focus on preventive healthcare is also likely to govern the demand for better medical instruments, driving the need for relevant reimbursement policies.

Regional Insights

North America dominated the market and accounted for the largest revenue share of 60.2% in 2024 owing to favorable regulatory policies and robust reimbursement structure. Provisions for medical device reimbursement are also well-established in the region. The rising prevalence of chronic diseases, coupled with the increasing demand for medical devices, is expected to augment market growth in this region over the forecast period.

Asia Pacific is expected to grow at the fastest CAGR of 9.5% during the forecast period due to rising healthcare expenditure, increasing chronic disease prevalence, and rising demand for resources in developing countries like China, Japan, South Korea, and India. These countries are adopting the policies being followed by the U.S. and European countries to streamline and develop a highly efficient healthcare management system, which is likely to have a positive impact on market growth. In January 2023, Bajaj Allianz General Insurance announced the introduction of their modular health insurance product 'My Health Care Plan'. The program includes mandatory coverages such as in-patient hospitalization costs, before and post-hospitalization costs, modern treatment methods, and others.

Medical Equipment Reimbursement Market Top Key Companies:
• United Health Group
• Aetna
• Cigna
• Humana
• Allianz
• Aviva
• Nippon Life Insurance
• CVS Health
• WellCare
• Health Plans
• BNP Paribas

Global Medical Equipment Reimbursement Market Report Segmentation
This report forecasts revenue growth at global, regional, and country levels and provides an analysis of the latest industry trends in each of the sub-segments from 2019 to 2034. For this study, Statifacts has segmented the global Medical Equipment Reimbursement Market
By Payer Type

• Public
• Private
By Healthcare Setting

• Hospitals
• Outpatient Facilities
• Other Healthcare Settings

By Regional

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

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