Dublin, Dec. 06, 2022 (GLOBE NEWSWIRE) — The “Healthcare Equipment Leasing Market – Global Outlook & Forecast 2022-2027” report has been added to ResearchAndMarkets.com’s offering.
Demand in the global healthcare equipment leasing market is mainly driven by rising chronic diseases with a growing patient population, increased number of diagnostic and surgical procedures, high cost of healthcare equipment, rapid advancements in healthcare, an increasing number of hospitals & diagnostic centers, and others.
However, the growing demand for refurbished equipment, the risk of healthcare equipment obsolescence, and the availability of multiple procuring options might hinder the growth of the global market.
Healthcare equipment leasing involves making an agreement by the lessee with the lessor wherein the lessor allows the lessee to utilize the equipment for a particular period in exchange for lease rentals. Leasing companies can also provide finance for expensive healthcare equipment such as X-ray machines, MRI machines, and ventilators without investing huge capital.
The equipment obtained can be returned to the lessor or purchased at the prevailing market price at the end of the lease tenure. Purchasing healthcare equipment can be costly, so leasing will help medical centers procure healthcare equipment through leasing and acquiring up-to-date equipment.
The significant benefits of the healthcare equipment leasing market include low initial costs, liberty to upgrade, saving time and money, affordable and quality services, flexible terms, tax benefits, and reduced maintenance and repair costs.
|No. of Pages||313|
|Forecast Period||2021 – 2027|
|Estimated Market Value (USD) in 2021||$46.33 Million|
|Forecasted Market Value (USD) by 2027||$71.69 Million|
|Compound Annual Growth Rate||7.5%|
Market Trends and Opportunities
Growing Number of Medical Imaging and Surgical Procedures in Healthcare Facilities
- The rising number of medical imaging procedures is drastically increasing the demand for leasing medical imaging equipment by the providers. Ultrasound is likely to be the most used medical imaging procedure, with around 180 million procedures. X-rays are also performed frequently, with over one billion dental X-rays alone being performed yearly. With the growing number of diagnostic facilities, such as in the U.S., there are 10,116 diagnostic imaging centers and more than 7,000 standalone imaging centers as of 2022, which is growing the need for leasing imaging equipment boosting the healthcare equipment leasing market growth. Also, globally, a staggering 310 million major surgeries are performed each year, of which around 40 to 50 million occur in the U.S. and 20 million in Europe. Most performed surgeries include that related to cardiovascular disorders, cataracts, pregnancies, cancers, and others. Thus, the need for surgical instruments to perform the surgeries is increasing and contributing to the increasing demand for leasing.
Need for High Capital and Associated Procurement Costs with Healthcare equipment.
- According to Modern Healthcare, healthcare equipment and supplies accounted for the most significant spike in healthcare expenditure. Hospitals are spending USD 93 billion every year on the lifecycle costs of healthcare equipment. After passing the Affordable Care Act in the last decade, much attention has been given to reducing healthcare costs while improving the overall quality of care. However, with the growing cost of technologically advanced healthcare equipment, equipment costs are increasing rapidly. Also, healthcare facilities that lack adequate funds and require healthcare equipment to manage the high volume of incoming patients are likely to lease the equipment needed contributing to the healthcare equipment leasing market.
Technological Advancements of Healthcare Equipment in the Healthcare Industry
- Five key areas of technology revolutionizing healthcare are artificial intelligence, wearables, virtual reality & augmented reality, the internet of things, and 3D printing. The demand for such equipment is increasing, with significant technological advancements incorporated into healthcare equipment. However, these come with a high burden of expenses. Hence, the healthcare equipment leasing market is helping to ensure cost-effective access to the latest and best healthcare technologies without a significant upfront investment. With the growing adoption of leasing, advanced healthcare technology can spread rapidly and benefit patient quality care.
Low- And Middle-Income Countries Witnessing the Ease of Leasing Healthcare Equipment
- LMICs account for about 90% of the global burden of diseases, while only 12% of global spending is on health. Moreover, many total health spending in developing countries is made from the pocket. In such countries, access to quality-assured healthcare equipment became challenging, resulting in inaccurate or delayed diagnosis and ineffective treatment, impacting patient safety. Therefore, healthcare facilities highly focus on procuring equipment from imports or in-house manufacturing companies. With a significant number of imports happening, LMICs have the required healthcare equipment. However, due to the cost restraint, the healthcare centers rely on leasing companies to obtain the necessary equipment, which is a major growth driver for the healthcare equipment leasing market.
The competitive picture in the healthcare equipment leasing market is intensifying due to the rapidly changing technological environment in the healthcare industry.
Vendors operating the market are pursuing various strategies to provide the impetus for growth over the next few years. Collaboration, partnerships, mergers, acquisitions, product launches, and various other strategies are adopted by the market players.
The global healthcare equipment leasing market is likely to get high dynamic with the presence of major global, regional, and a handful of local vendors offering leasing services. Vendors contributing to a major share in the global healthcare equipment leasing market include De Lage Landen International B.V., G.E. Capital, Oak Leasing, Rotech Healthcare, and Siemens Financial Services.
Other players that contributed to a significant share in the global industry are Advantage+, BNP Paribas Leasing Solutions, C Cube Advance Technologies, Complete Leasing Solutions, CSI Leasing, First American Healthcare Finance, First-Citizens Bank & Trust Company, GRENKE, Insight Financial Services, Madison Capital LLC, Med One Group, Meridian Group International, MRI Depot, National Funding, Oak Leasing, and many others.
- General Electric Company
- Koninklijke Philips N.V.
- Siemens Financial Services
- De Lage Landen International B.V.
- Oak Leasing
- Rotech Healthcare
Other Prominent Vendors
- BNP Paribas Leasing Solutions
- C Cube Advance Technologies
- CMS Funding
- Complete Leasing Solutions
- CSI Leasing
- First American Healthcare Finance
- First-Citizens Bank & Trust Company
- GreatAmerica Financial Services
- Henry Schein
- Insight Financial Services (IFS)
- Intuitive Surgical
- JA Mitsui Leasing
- Madison Capital
- Med One Group
- Meridian Group International
- MRI Depot
- National Equipment Leasing Company
- National Funding
- North Star Leasing
- Prudential Leasing
- SLR Investment
- Societe Generale Equipment Finance (SGEF)
- TD Bank
- Trust Capital
- Univest Capital
- Wells Fargo
Recent Key Developments In The Healthcare Equipment Leasing Market Are:
- In February 2022, First Horizon and Toronto-Dominion Bank signed an agreement for T.D. to acquire First Horizon in an all-cash transaction valued at approximately USD 13.0 billion. This strategy helped the company establish a secure position in the industry.
- In February 2020, Wells Fargo & Company established a vendor financing arrangement with Siemens Healthineers, providing hospitals and health systems across the United States with competitive, comprehensive financing choices.
Key Questions Answered:
1. How big is the healthcare equipment leasing market?
2. What is the growth rate of the global healthcare equipment leasing market?
3. Who are the key players in the global healthcare equipment leasing market?
4. What is healthcare equipment leasing?
5. What are some of the latest trends that will shape the future of the healthcare equipment leasing market?
6. Which region has the highest healthcare equipment leasing market share globally?
Key Topics Covered:
1 Research Methodology
2 Research Objectives
3 Research Process
4 Scope & Coverage
4.1 Market Definition
4.1.3 Market Estimation Caveats
4.2 Base Year
4.3 Scope of the Study
4.3.1 Market Segmentation of Equipment
4.3.2 Market Segmentation of Lease Type
4.3.3 Market Segmentation of End-User
4.3.4 Market Segmentation by Geography
5 Report Assumptions & Caveats
5.1 Key Caveats
5.2 Currency Conversion
5.3 Market Derivation
6 Market at a Glance
7 Premium Insights
7.1 Market Synopsis
7.1.1 Market Segmentations
7.1.2 Competitive Landscape
9 Market Opportunities & Trends
9.1 Rapid Technological Advances in Healthcare Settings
9.2 Growing Ease of Leasing Healthcare Equipment in Lmics
9.3 Surge in Global R&D Activities & Laboratory Tests Volume
10 Market Growth Enablers
10.1 Growing Number of Medical Imaging & Surgical Procedures
10.2 High Capital & Procurement Costs of Healthcare Equipment
10.3 Increase in Number of Diagnostic Centers & Hospitals
11 Market Restraints
11.1 Risk of Healthcare Equipment Obsolescence
11.2 Increase in Popularity of Refurbished Healthcare Equipment
11.3 Availability of Multiple Procuring Options for Healthcare Providers
12 Market Landscape
12.1 Market Overview
12.2 Market Size & Forecast
12.3 Five Forces Analysis
12.3.1 Threat of New Entrants
12.3.2 Bargaining Power of Suppliers
12.3.3 Bargaining Power of Buyers
12.3.4 Threat of Substitutes
12.3.5 Competitive Rivalry
13.1 Market Snapshot & Growth Engine
13.2 Market Overview
13.3 Medical Imaging Equipment
13.3.1 Market Overview
13.3.2 Market Size & Forecast
13.3.3 Medical Imaging Equipment: Geography Segmentation
13.4 Surgical & Therapeutic Equipment
13.4.1 Market Overview
13.4.2 Market Size & Forecast
13.4.3 Surgical & Therapeutic Equipment: Geography Segmentation
13.5 Patient Monitoring Equipment
13.5.1 Market Overview
13.5.2 Market Size & Forecast
13.5.3 Patient Monitoring Equipment: Geography Segmentation
13.6 Laboratory Equipment
13.6.1 Market Overview
13.6.2 Market Size & Forecast
13.6.3 Laboratory Equipment: Geography Segmentation
13.7 Durable Medical & Storage/Transport Equipment
13.7.1 Market Overview
13.7.2 Market Size & Forecast
13.7.3 Durable Medical & Storage/Transport Equipment: Geography Segmentation
14 Lease Type
14.1 Market Snapshot & Growth Engine
14.2 Market Overview
14.3 New Equipment Lease
14.3.1 Market Overview
14.3.2 Market Size & Forecast
14.3.3 New Equipment Lease: Geography Segmentation
14.4 Used Equipment Lease
14.4.1 Market Overview
14.4.2 Market Size & Forecast
14.4.3 Used Equipment Lease: Geography Segmentation
15.1 Market Snapshot & Growth Engine
15.2 Market Overview
15.3.1 Market Overview
15.3.2 Market Size & Forecast
15.3.3 Hospitals: Geography Segmentation
15.4 Radiology/Imaging Centers
15.4.1 Market Overview
15.4.2 Market Size & Forecast
15.4.3 Radiology/Imaging Centers: Geography Segmentation
15.5 Clinics & Physician Offices
15.5.1 Market Overview
15.5.2 Market Size & Forecast
15.5.3 Clinics & Physician Offices: Geography Segmentation
15.6 Clinical & Research Laboratories
15.6.1 Market Overview
15.6.2 Market Size & Forecast
15.6.3 Clinical & Research Laboratories: Geography Segmentation
15.7.1 Market Overview
15.7.2 Market Size & Forecast
15.7.3 Others: Geography Segmentation
17 North America
20 Latin America
21 Middle East & Africa
22 Competitive Landscape
23 Key Company Profiles
24 Other Prominent Vendors
25 Report Summary
26 Quantitative Summary
For more information about this report visit https://www.researchandmarkets.com/r/f9rlbr