Medical Equipment Financing Market: Is Covid19 testing the healthcare industry?

[Nita Sonwane]

The global medical equipment financing market size is predicted to reach USD 210.46 billion by 2027 owing to the advent of technological innovations in medical equipment. With the continuous advancement in medical technology, it has become a necessity to opt for the best-in-class medical equipment for excellent healthcare services. However, advanced diagnostic systems are expensive and are difficult for medical practitioners and hospitals to afford through their funds. There arises the need for medical equipment funding with low monthly installments and flexible loan models. According to a recently published report by Fortune Business Insights™ titled, “Medical Equipment Financing Market” Size, Share & Industry Analysis, By Device Type (Diagnostic Equipment, Therapeutic Equipment, Patient Monitoring Equipment, and Others), By End User (Hospitals & Clinics, Laboratories and Diagnostic Centers, and Others), and Regional Forecast, 2020-2027,” the market value was USD 102.30 billion in 2019 and will rise at a CAGR of 9.5% between the forecast duration, 2020 to 2027

For more information in the analysis of this report, visit: https://www.fortunebusinessinsights.com/medical-equipment-financing...

List of Players Operating in this Market include:

National Funding
First American Equipment Finance
HDFC Bank Ltd
Hero FinCorp
Blue Bridge Financial, LLC.
TIAA Bank
SMC
Other Players
What are the Objectives of the Report?

The report is based on an in-depth analysis of the market and focusses on major drivers, restraints, challenges, and upcoming opportunities. It also throws light on the competitive landscape of the market, list of players operating in the market, and the key strategies adopted by them to earn a competitive edge in the market. The report further discusses major industry development, current medical equipment financing market trends, and other interesting insights into the market. Furthermore, the report is available for sale on the company website.

Market Drivers

Advent of Artificial Intelligence into Medical Sector will Add Impetus to Market

Various factors are responsible for the medical equipment financing market growth. These include the increasing number of diagnostic tests, patient monitoring, and increasing demand for diagnostic and therapeutic devices. Besides this, the rising prevalence of infectious diseases is also boosting the market. This, coupled with the rising need to provide advance medical care to patients and the need for therapeutic equipment such as ventilators, dialysis machines, ICU equipment, and others, is further expected to aid in the expansion of the market during the forecast period.

Competitive Landscape:

String Portfolio helped National Funding and Hero FinCorp Cover Dominant Shares

The global medical equipment financing market witnesses the presence of multiple vendors which further intensifies the market competition. However, companies such as Hero FinCorp, and National Funding have established a leading position owing to their affordable financial solutions, acquisition policies, and excellent customer-provider relationships. Apart from this, these players have a well-established portfolio and offer low monthly installments and varied loan options to medical practitioners. Other players are engaging in collaborative efforts such as contracts and agreements, joint ventures, and others to attract high medical equipment financing market revenue in the coming years.