(MENAFN- EIN Presswire) Medical Equipment Financing Market
The global medical equipment financing market can majorly be attributed to the launch of several partnerships by the key players operating in the market.
NEW YORK, NEW YORK, UNITED STATES, November 15, 2022 /einpresswire.com / -- Global medical equipment financing market Key Insights
During the forecast period of 2023-2033, the global medical equipment financing market is expected to reach an estimated value of ~USD 275,000 million by 2033, by expanding at a CAGR of ~8%. The market further generated a revenue of ~USD 150,000 million in the year 2022. Major key factors propelling the growth of medical equipment financing market worldwide are the growing geriatric population and higher demand of medical accessories globally.
Market Definition of Medical Equipment Financing
Propelled demand of medical accessories such as, gloves, facemask, gowns and medical equipment, including ventilators, oxygen cylinder, monitoring devices and others is anticipated to boost the growth of the medical equipment financing market. According to the World Health Organization, more than half a million people need 1.1 million oxygen cylinders every day. Moreover, worldwide, 129 billion disposable masks are used each month. In 2020, more than 400 million medical masks have been distributed by UNICEF to assist the nations.
Request Medical Equipment Financing Market Report Sample @
Global Medical Equipment Financing Market: Growth Drivers
The growth of the global medical equipment financing market can majorly be attributed to the launch of several partnerships by the key players operating in the market. For instance, International Finance Corporation (IFC) join hands with Multilateral Investment Guarantee Agency (MIGA) to launch the Trade Finance Guarantee initiatives for food and medical equipment in low-income countries. On the other hand, the market growth can also be attributed to the several acquisition contracts occurring in the field of medical equipment financing. For instance, First Horizon Bank announced its complete acquisition by Toronto Dominion Bank by all cash transaction. After the transaction, TD bank is to become the sixth largest bank in the U.S. by assets.
The global medical equipment financing market is also estimated to grow majorly on account of the following:
•Increased Demand of Medical Accessories Across the Globe
•Growth in Elderly Population
•Surged Usage of Medical Equipment
•Increase in Healthcare Expenditure Worldwide
Global Medical Equipment Financing Market: Restraining Factor
There are risk of equipment to become obsolete and lower awareness in underdeveloped and developing countries in the market. Hence, these factors are expected to be the major hindrance for the growth of the global medical equipment financing market during the forecast period.
Know More About the Complete Study @
Global Medical Equipment Financing Market Segmentation
•By Equipment (Diagnostics Equipment, Patient Monitoring Equipment, Therapeutic Equipment, Laboratory Equipment and Medical Furniture)
The diagnostics equipment segment, amongst all the other segments, is anticipated to garner the largest revenue by the end of 2033. The growth of the segment can be attributed to the rising use of various diagnostic machines including computed tomography scan, x-ray, magnetic resonance imaging, ultrasound and others. The World Health Organization estimates that 3.6 billion diagnostic procedures, including X-rays, are performed annually. Among these 3.6 billion, x-rays make up 40% of all medical imaging. Additionally, currently, there are 300 million CT scans performed worldwide annually, an increase of 4% over the previous year.
•By Type (New Equipment, Rental Equipment, and Refurbished Equipment)
•By End User (Hospitals, Clinics, Ambulatory Surgical Centers, and Diagnostic Centers)
•By Region
The North America medical equipment financing market is anticipated to hold the largest market share by the end of 2033 among the market in all the other regions. Higher spending on healthcare sector followed by rise in medical beds in the region is one of the major factors anticipated to drive the growth of the market in the North America during the forecast period. According to the Centre for Medicare and Medicaid Services, national health expenditure of the United States has increased by 9.7% amounting to USD 4.1 trillion in 2020, and it is around for 19.7% of national GDP. Moreover, in 2019, there were around 800,000 beds in the community hospitals out of which nearly 60,000 are medical surgical intensive care beds.
The market research report on global medical equipment financing also includes the market size, market revenue, Y-o-Y growth, and key player analysis applicable for the market in North America (U.S., and Canada), Latin America (Brazil, Mexico, Argentina, Rest of Latin America), Asia-Pacific (China, India, Japan, South Korea, Singapore, Indonesia, Malaysia, Australia, New Zealand, Rest of Asia-Pacific), Europe (U.K., Germany, France, Italy, Spain, Hungary, Belgium, Netherlands & Luxembourg, NORDIC (Finland, Sweden, Norway, Denmark), Ireland, Switzerland, Austria, Poland, Turkey, Russia, Rest of Europe), and Middle East and Africa (Israel, GCC (Saudi Arabia, UAE, Bahrain, Kuwait, Qatar, Oman), North Africa, South Africa, Rest of Middle East and Africa).
Key Market Players Featured in the Global Medical Equipment Financing Market
Some of the key players of the global medical equipment financing market are Blue Bridge Financial, LLC, CMS Funding, First American Healthcare Finance, HDFC Bank, HeroFinCorp, JPMorgan Chase & Co., Kabbage (American Express), National Funding Inc., SMC Finance, Toronto-Dominion Bank, and others.
Consult Our Expert Analysts @
About Research Nester:
Research Nester, which is a leading service provider for strategic market research and consulting services, aims to provide unbiased, unparalleled market insights and industry analysis. These analyses help conglomerates, executives, and industries to take wise decisions for their businesses as well as for their future marketing strategy, expansion and investment among others. We believe that our expertise in the field of market research can help businesses to expand to its new horizon. Our team of research analysts can provide businesses a right guidance at the right time, while our out of box thinking helps our clients to take wise decision in order to avoid future uncertainties.
AJ Daniel
Research Nester Inc.
+1 6465869123
Visit us on social media:
facebook
twitter
linkedin
Forge your own success stories, With Research Nester - A Composite Market Research Solution
MENAFN16112022003118003196ID1105189546
Legal Disclaimer:
MENAFN provides the information “as is” without warranty of any kind. We do not accept any responsibility or liability for the accuracy, content, images, videos, licenses, completeness, legality, or reliability of the information contained in this article. If you have any complaints or copyright issues related to this article, kindly contact the provider above.