GLOBAL MEDICAL EQUIPMENT FINANCING MARKET SIZE AND SHARE ANALYSIS - GROWTH TRENDS AND FORECASTS (2024-2031)

Global Medical Equipment Financing Market Size and Trends

Global medical equipment financing market is estimated to be valued at USD 173.69 Bn in 2024 and is expected to reach USD 275.90 Bn by 2031, exhibiting a compound annual growth rate (CAGR) of 6.8% from 2024 to 2031.

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With healthcare modernization initiatives underway globally, especially in emerging economies, the demand for medical loans and financing options is expected to rise steadily. Financing solutions allow healthcare providers to purchase expensive medical devices in installment payments. This eases budget constraints and enables higher investment in quality healthcare infrastructure and technologies. Key players are enhancing their product portfolios to capitalize on the trend.

Rising healthcare expenditure

Global healthcare expenditure has been increasing over the past few decades and this rise has accelerated in recent years. Rising healthcare spending is projected to continue in the near future due to factors such as aging population, rise of non-communicable diseases, cost of new medical technologies, and others. Naturally, this rise in healthcare spending has put pressure on hospitals and other healthcare providers to invest in latest medical equipment to provide better treatments. However, upfront investment required for medical equipment is quite high which makes it difficult for many healthcare systems to procure these technologies. Thus, medical equipment financing allows hospitals and clinics to acquire modern medical equipment without having to bear the entire cost upfront by spreading it over the lifetime of equipment. This helps them to continue delivering quality care to patients while managing their budgets efficiently. Thus, the consistent rise in global healthcare spending boosts demand for medical equipment financing.

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Most of the critical medical equipment present in public hospitals is over 10-15 years old which limits the treatment options for patients. The costs of upgrading this old infrastructure is huge. Thus, medical equipment financing helps healthcare providers to modernize and expand their capabilities. It allows gradual retirement of old equipment and acquisition of new advanced systems which improves patient outcomes. Several hospitals and clinics in developed markets are now actively relying on equipment financing to replace CT scanners, MRI machines, ultrasound, and others installed many years ago. Aging healthcare infrastructure is expected to further boost demand for medical equipment financing in the near future.