Selbyville, Delaware, Feb. 03, 2020 (GLOBE NEWSWIRE) --
Global Market Insights, Inc. has recently added a new report on medical equipment financing market which estimates the global market valuation for healthcare equipment financing will cross US$ 205 billion by 2026. Inflated cost of medical equipment will drive medical equipment financing market growth.
Technological advancements and new product development in medical equipment market expedites the growth of equipment financing in the medical industry. The continuous upgradation in the diagnostic and patient monitoring devices compels healthcare professionals to opt for up-to-date technology for patient care. Also, rising prevalence of chronic diseases have ensured the development of advanced medical equipment for diagnostic and therapeutic treatment.
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Some major findings of the medical equipment financing market report include:
1. Rising demand for medical equipment in developing countries
2. Inflated cost of healthcare equipment
3. Technological advancements in developed nations
4. Building up cash reserves as a defence against the worst-case reimbursement scenarios
The Affordable Care Act has enforced reimbursement pressure on the hospitals, pushing the healthcare business to look for new ways to operate efficiently as well as achieve the economies of scale. Also, the Act is increasing competitive pressure among hospitals leading to higher technology expenditures. Thus, hospitals are looking for financing options to build up their cash reserves as a defense against the reimbursement scenario. The equipment financing is used by hospitals to sustain delivery of high quality care and keep more cash on hand to address the possible reimbursement. Therefore, rising unpredictability in healthcare sector and the demand for equipment financing by the healthcare businesses is significantly expected to contribute towards growth of the market over the projected years.
Diagnostic equipment segment accounted for around 32% revenue share in 2019. Diagnostic equipment industry is constantly working to improve the clinical outcomes. Thus, to ensure that advanced patient care is provided to the patients, the doctors prefer to take up financing from the banks to purchase advanced diagnostic equipment. Furthermore, the rising number of infectious diseases and the non-affordability in the developing regions significantly contributes to augment the market growth for diagnostic equipment financing.
Refurbished medical equipment financing market accounted for substantial revenue of over USD 14.6 billion in 2019. The reduced cost of the refurbished medical equipment provides value to the hospitals that operate in budgetary constraints. Thus, healthcare institutions have begun to adopt refurbished medical equipment thus fostering the financing for refurbished medical equipment. The demand for refurbished medical equipment is mainly prevalent in developing countries.
Browse key industry insights spread across 250 pages with 531 market data tables & 14 figures & charts from the report, “Medical Equipment Financing Market Share & Forecast, 2019 – 2025” in detail along with the table of contents:
https://www.gminsights.com/industry-analysis/medical-equipment-financing-market
End-users including ambulatory surgical centers will witness rapid progress during the analysis period. Rising outpatient surgery, and reduced cost of conducting a surgery compared to the hospitals have fueled the demand for ambulatory surgical centers. Also, rising number of ambulatory surgical centers contributes to the financing required for procurement of the equipment required for surgery which drives the market demand for medical equipment financing.
China medical equipment financing market is poised to witness 9.2% CAGR during the analysis period. Increasing number of geriatric population and increased health consciousness propels the demand for medical equipment which subsequently bolsters medical equipment financing market in China. Also, introduction of favorable policies by the government for the development of medical equipment financing companies to meet escalating demand for medical equipment fosters the industry growth.
Some major findings of the medical equipment financing market report include:
- Technological advancements in the medical equipment will compel the growth of medical equipment financing.
- The demand for refurbished is significantly increasing owing to healthcare organization operating in low budget income.
- Increasing demand for medical equipment in the developing countries will contribute to fuel market growth.
- Major players operating in the medical equipment financing industry include First American Healthcare Finance, National Funding, CIT Group Inc. and Amur Equipment Finance, among other players.
Industry players are implementing various strategies such as acquisitions and partnerships to gain competitive advantage for business expansion. In April 2019, TimePayment acquired LeaseQ Inc., adding immediate value to TimePayment’s strategic focus and offer the vendor partners a leading platform, differentiated product offerings, faster funding, and improved services.
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Partial chapters of report table of contents (TOC):
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
3.4. 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
Chapter 4. Medical Equipment Financing Market, By Equipment
4.1. Key segment trends
4.2. Diagnostic equipment
4.2.1. Market size, by region, 2015-2026 (USD Billion)
4.3. Therapeutic equipment
4.3.1. Market size, by region, 2015-2026 (USD Billion)
4.4. Patient monitoring equipment
4.4.1. Market size, by region, 2015-2026 (USD Billion)
4.5. Laboratory equipment
4.5.1. Market size, by region, 2015-2026 (USD Billion)
4.6. Medical furniture
4.6.1. Market size, by region, 2015-2026 (USD Billion)
Browse complete report table of contents @ https://www.gminsights.com/toc/detail/medical-equipment-financing-market
About Global Market Insights
Global Market Insights, Inc., headquartered in Delaware, U.S., is a global market research and consulting service provider; offering syndicated and custom research reports along with growth consulting services. Our business intelligence and industry research reports offer clients with penetrative insights and actionable market data specially designed and presented to aid strategic decision making. These exhaustive reports are designed via a proprietary research methodology and are available for key industries such as chemicals, advanced materials, technology, renewable energy and biotechnology.