LONDON–(BUSINESS WIRE)–The latest market research report by Technavio on the global healthcare equipment leasing market predicts a CAGR close to 7% during the period 2017-2021.
The report segments the global healthcare equipment leasing market by product (DME, surgical and therapy equipment, personal and home-care equipment, digital and electronic equipment, and storage and transport equipment) and by end-user (hospitals and diagnostics centers). It provides a detailed illustration of the major factors influencing the market, including drivers, opportunities, trends, and industry-specific challenges.
Here are some key findings of the global healthcare equipment leasing market, according to Technavio healthcare and life sciences researchers:
- Inflated cost of healthcare equipment: a major market driver
- The DME segment dominated the market with approximately 44% share in 2016
- EMEA dominated the global healthcare equipment leasing market with a share of 39% in 2016
- De Lage Landen International, GE Capital, National Technology Leasing, Oak Leasing, Rotech Healthcare, and Siemens Financial Services are the leading players in the market
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Inflated cost of healthcare equipment: a major market driver
Medical imaging, home-care services, endoscopy, anesthesia, dialysis, and other surgeries are some of the different procedures through which healthcare facilities generate revenue. Diagnostic imaging equipment leasing segment, among the different segments of the global healthcare equipment leasing market, accounts for the largest share. Due to the high cost of medical equipment, end-users prefer the concept of leasing rather than buying the equipment. This in turn reduces the expenses incurred for installation and high maintenance. Privately-owned diagnostics centers and small-scale hospitals must incur huge costs if they must install the expensive medical equipment’s, due to which, they prefer leasing rather than buying. These end-users contribute largely to the market growth.
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EMEA dominating the market
The major revenue contributor to the global healthcare equipment leasing market is credited to EMEA. The healthcare equipment leasing market is this region is expected to grow at an even pace. This can be attributed to the changes in government regulations to decrease the healthcare expense. In Europe, diagnostic imaging equipment accounted for the largest share in total leasing revenue of the regions and the UK was the largest contributor. In EMEA, most of the mid-size hospitals, clinics, acute care centers, dental clinics, and other healthcare centers rely on leasing healthcare equipment as the frozen capital of the National Health Service (NHS) is predominantly high.
According to Barath Palada, a lead analyst at Technavio for research on orthopedics and medical devices, “The increase in number of the start-up ASCs is expected to drive the market growth in the forecasted period. Also, the number of insurance providers operating in the UK is high, and the favorable reimbursement policies are supporting leasing. The increasing demand for diagnostic imaging in Germany, France, Italy, and the UK; rising geriatric population; and growing prevalence of neurological, orthopedic, and carcinogenic diseases are expected to boost the market in this region.”
Competitive vendor landscape
The global healthcare equipment leasing market is highly fragmented with the presence of key players accounting for the majority of share and the presence of a countable number of other prominent vendors. Some of the leading vendors are GE Capital, Siemens Financial Services, De Lage Landen International, Rotech Healthcare, National Technology Leasing, and Oak Leasing. Prominent vendors include companies like CSI Leasing and Apria Healthcare. Also, few emerging players such as Direct Capital (CIT Group), and IBJ Leasing are also making their presence significantly in the global healthcare leasing equipment market.
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