Medical Equipment Financing Market Share

North American Market Forecast

The market share of medical equipment financing in North America, amongst the market in all the other regions, is projected to be the largest with a share of about ~40% by the end of 2033. The growth of the market can be attributed majorly to the augmenting healthcare spending, followed by the surging count of medical beds in the region’s hospitals. 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 19.7% of the national GDP. Moreover, in 2019, there were around 800,000 beds in community hospitals out of which nearly 60,000 are medical-surgical intensive care beds. In addition to this, the increasing need for therapeutic devices such as portable ventilators, dialysis equipment, and ICU equipment, and rising finance services for medical diagnostic devices are also estimated to elevate the market growth further in the North American region throughout the forecast period.

Europe Market Forecast

The European medical equipment financing market is estimated to be the second largest, registering a share of about ~26% by the end of 2033. The growth of the market can be attributed majorly to the escalating adoption of AI-based medical equipment, coupled with the surge in healthcare infrastructure in the region. Besides this, significant economic growth in various countries of Eastern Europe is also projected to push the market growth further in the European region in the coming years.

APAC Market Statistics

Further, the market in the Asia Pacific, amongst the market in all the other regions, is projected to hold a majority of the share of about ~19% by the end of 2033. The growth of the market can be attributed majorly to the significant rise in the finance sector in the region, along with the increasing setup of advanced laboratories, hospitals, diagnostic centers, and so on in various countries in the region. Moreover, rising investment by the government to establish a more solid medical sector is also projected to skyrocket the growth of the medical equipment financing market in the APAC region in the projected time frame.

Frequently Asked Questions (FAQ)

Surging demand for medical accessories as of the rise of COVID-19, growing demand for ICU equipment, and worldwide rise in healthcare expenditure are the major factors driving the market growth.

The market size of medical equipment financing is anticipated to attain a CAGR of ~8% over the forecast period, i.e., 2023-2033.

Lower awareness in underdeveloped countries regarding the advanced medical equipment, and extremely careful investments by the businesses are estimated to be the growth hindering factors for the market expansion.

The market in the North American region is projected to hold the largest market share by the end of 2033 and provide more business opportunities in the future.

The major players in the market are TD Bank, N.A., Bajaj Finance Limited, CMS Funding, First American Equipment Finance, HDFC Bank Ltd., JPMorgan Chase & Co., National Funding, Inc., TIAA Bank, and others.

The company profiles are selected based on the revenues generated from the product segment, geographical presence of the company which determine the revenue generating capacity as well as the new products being launched into the market by the company.

The market is segmented by type, equipment, end-user, and by region.

The diagnostics equipment segment is anticipated to garner the largest market size by the end of 2033 and display significant growth opportunities.

Medical Equipment Financing Market Share