Medical Equipment Financing Market Healthcare Market Projection By Technology, Major key players, Growth, Revenue, CAGR, Regional Analysis Industry Forecast 2021 To 2027 is latest report published on “Global Medical Equipment Financing Market Healthcare Market” by Fortune Business Insights. The global Medical Equipment Financing market size was USD 102.30 billion in 2019. The global impact of COVID-19 pandemic has been unprecedented and staggering, with Medical Equipment Financing witnessing a positive demand across all regions amid the pandemic. Based on our analysis, the global Medical Equipment Financing market size is projected to reach USD 210.46 billion by the end of 2027. The increasing IT sector and rapid industrialization across the globe will emerge in favor of market growth.
Key Industry Developments of this Market include:
October 2019 – Health Credit Services LLC., a loan provider for medical practitioners in dental, vision, orthopedics, cosmetics, and others were acquired by Ally Financial for increasing the potential of the company to offer digital financial solutions.
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.
On the contrary, factors such as high expenditure for maintaining hospital equipment may cause a decline in the medical equipment financing market as investors may be more inclined on maintaining the already bought equipment rather than investing in a new one. This may pose a major challenge to the overall market. Furthermore, the current pandemic of COVID-19 has had a major impact all over the world resulting in a lack of medical equipment and hospital staff altogether. Nevertheless, funds raised for ailing to the patients fighting the coronavirus may pose a major help to the world and add a boost to the market as well. This, coupled with the advent of artificial intelligence into the medical sector and the help provided by robot assistants in medical diagnostic procedures are likely to create lucrative growth opportunities for the market in the coming years.
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Medical Equipment Financing Market Healthcare Market Overview:
Report segments Global Medical Equipment Financing Market Healthcare Market 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