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Medical Patient Financing in the US - Industry Market Research Report

Publisher IBISWorld
Published Dec 30, 2024
Length 69 Pages
SKU # IBSS19493708

Description

Medical Patient Financing in the US - Industry Market Research Report


Medical Patient Financing in the US

The Medical Patient Financing industry, which extends credit to consumers to cover medical procedures, has experienced greater demand and a shifting healthcare environment, as higher disposable incomes and increased access to credit enable a more significant number of consumers to finance elective and nonelective healthcare procedures. The COVID-19 pandemic in 2020 boosted the industry, as total healthcare expenditure jumped. Also, the widespread distribution of the COVID-19 vaccine reduced the number of cases, which freed up hospital capacity and medical personnel for elective and nonelective procedures. As a result, industry revenue has grown at a CAGR of 5.0% over the past five years and is expected to total $15.2 billion in 2023, when revenue will jump by an estimated 4.3%. Moreover, in line with the projected growth, industry profitability will likely increase due to decreasing miscellaneous costs regarding loan provisions and legal fees, along with the renewal in industry demand.

This industry includes companies that are primarily engaged in extending credit facilities to consumers to cover healthcare costs and related expenses. Financing can be provided for elective and nonelective medical procedures.

This report covers the scope, size, disposition and growth of the industry including the key sensitivities and success factors. Also included are five year industry forecasts, growth rates and an analysis of the industry key players and their market shares.

Table of Contents

69 Pages
ABOUT THIS INDUSTRY

Industry Definition
Main Activities
Similar Industries
Additional Resources

INDUSTRY AT A GLANCE

INDUSTRY PERFORMANCE

Executive Summary
Key External Drivers
Current Performance
Industry Outlook
Industry Life Cycle

PRODUCTS & MARKETS

Supply Chain
Products & Services
Demand Determinants
Major Markets
International Trade
Business Locations

COMPETITIVE LANDSCAPE

Market Share Concentration
Key Success Factors
Cost Structure Benchmarks
Basis of Competition
Barriers to Entry
Industry Globalization

MAJOR COMPANIES

OPERATING CONDITIONS

Capital Intensity
Technology & Systems
Revenue Volatility
Regulation & Policy
Industry Assistance

KEY STATISTICS

Industry Data
Annual Change
Key Ratios

JARGON & GLOSSARY

Pricing

Currency Rates
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