Medical Equipment Financing Market Forecast 2026 By Global Industry Players
Category: #business  By Ronak Bora  Date: 2021-03-22
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Medical Equipment Financing Market Forecast 2026 By Global Industry Players

Medical Equipment Financing Market report offers in-depth analysis of the industry size, share, major segments, and different geographic regions, forecast for the next five years, key market players, and premium industry trends. It also focuses on the key drivers, restraints, opportunities and industry challenges.

Medical equipment financing market size is slated to be on a high growth trajectory as medical devices continue to flourish in the healthcare continuum. The current demand and supply dynamics offer opportunities galore, with leading companies gear to identify major imperatives for growth and explore possibilities in the industry landscape. With clinics, hospitals and health centers gearing to gain a competitive edge, demand for state-of-the-art equipment has surged drastically; subsequently signifying the prominence of financing of medical equipment.

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There are palpable inclinations towards upgradation of medial equipment to offer quality patient care or refurbish the equipment from time to time. It is pertinent to mention that surge in medical equipment financing has provided flexibility to use the funds to refurbish old equipment instead of buying a new one.

GMI, has projected medical equipment financing market size to gain substantial uptick by 2026.

Constant technological advancement in equipment

The continuous upgradation as well as advancement in the diagnostic and patient monitoring devices has been compelling healthcare professionals to opt for up-to-date technology for patient care. This will positively impact medical equipment financing trends over the coming years.

New product development and deployment in healthcare facilities will expedites the growth of equipment financing in the medical industry. Moreover, the rising in number of infectious diseases along with non-affordability in the developing countries will substantially contribute towards the expansion of medical equipment financing industry size.

Enactment of Affordable Care Act in the U.S.

The Affordable Care Act or Patient Protection and Affordable Care Act, (enacted in 2010) had enforced reimbursement pressure on the hospitals, urging the healthcare businesses to look for new ways to operate efficiently across the United states.

The Act has intensified the competitive landscape in healthcare, which is leading to higher technology expenditures. Hospitals and other healthcare facilities are opting for financing options to maintain a cash reserve as a defense against the reimbursement schemes. This is aiding hospitals to sustain delivery of high quality care while keeping more cash on hand to address the possible reimbursements.

Rising demand for advanced diagnostics

Growing prevalence of chronic diseases has prompted the development of advanced medical equipment for diagnosis and treatment. As per the U.S. Department of Health & Human Services, 6 in 10 adults in the United States suffered from chronic diseases in 2019, which included cancer, heart diseases, chronic lung diseases, diabetes, chronic kidney disease, Alzheimer, etc.

In 2019, diagnostic equipment segment accounted for approximately 32% revenues of medical equipment financing industry. The diagnostic equipment sector is continually working towards improving clinical outcomes. To ensure that advanced patient care is provided to patients, healthcare facilities prefer to take up financing from the banks to purchase diagnostic equipment.

Expanding geriatric population in China

Rapidly growing geriatric population and increasing health consciousness across China will fuel the demand for medical equipment, which may subsequently bolster healthcare financing across the region. China medical equipment financing industry is estimated to showcase growth rate of more than 9.2% through 2026.

In addition, introduction of favorable policies by the regional governments suited for the development of medical equipment financing companies to cater to the growth in demand for medical equipment may complement domestic businesses. 

Browse full table of contents (TOC) of this report @ https://www.decresearch.com/toc/detail/medical-equipment-financing-market

Partial Chapter of the Table of Content 

Chapter 2.    Executive Summary

2.1. Medical equipment financing industry 360º synopsis, 2015 - 2026

2.1.1.    Business trends

2.1.2.    Equipment trends

2.1.3.    Type trends

2.1.4.    End-use trends

2.1.5.    Regional trends

Chapter 3.    Medical Equipment Financing Industry Insights

3.1. Industry segmentation

3.2. Industry landscape, 2015 – 2026

3.3. Industry impact forces

3.3.1.    Growth drivers

3.3.1.1. Rising demand for medical equipment in developing countries

3.3.1.2. Inflated cost of healthcare equipment

3.3.1.3.    Technological advancements in developed nations

3.3.1.4. Building up cash reserves as a defence against the worst-case reimbursement scenarios

3.3.2.    Industry pitfalls & challenges

3.3.2.1. Risk of obsolescence unlike equipment leasing

3.3.2.2.    Lack of awareness in developing and underdeveloped regions

3.4. Growth potential analysis

3.4.1. By equipment

3.4.2.    By type

3.4.3.    By end-use

3.5. Financing vs Leasing scenario

3.6. Porter’s analysis

3.7. Competitive landscape, 2019

3.7.1. Company market share analysis, 2019

3.8. PESTEL analysis

 

About Author

Ronak Bora    

Ronak Bora

A graduate in Electronics Engineering, Ronak writes for Technology Magazine and carries a rich experience in digital marketing, exploring how the online world works from a technical and marketing perspective. His other areas of interest include reading, music, and spo...

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