Global Healthcare Equipment Leasing Market 2017-2021
About Healthcare Equipment Leasing
Healthcare equipment leasing is a cost-effective alternative to acquire capital medical equipment. It helps to avoid high amount of investment and is an asset financing strategy that allows end-users to acquire healthcare assets on low-cost monthly instalments. Healthcare leasing is on high demand due to several factors. It enables improved budgeting, ensures better sales, is more cost-effective than loans, and enables better product management.
Technavio’s analysts forecast the global healthcare equipment leasing market to grow at a CAGR of 6.77% during the period 2017-2021.
Covered in this report
The report covers the present scenario and the growth prospects of the global healthcare equipment leasing market for 2017-2021. The report presents a detailed picture of the market by way of study, synthesis, and summation of data from multiple sources.
The market is divided into the following segments based on geography:
Technavio Announces the Publication of its Research Report – Global Healthcare Equipment Leasing Market 2017-2021
Technavio recognizes the following companies as the key players in the global healthcare equipment leasing market: De Lage Landen International, GE Capital, National Technology Leasing, Oak Leasing, Rotech Healthcare, and Siemens Financial Services.
Other Prominent Vendors in the market are: Advantage+, Apria Healthcare, Byline Financial Group, CIT Group, Complete Leasing Solutions, CSI Leasing, IBJ Leasing Company, Johnson Reed, Lombard, Med One Group, Meridian Leasing, TeleLease, WestWon, and Woodley Equipment Company.
Commenting on the report, an analyst from Technavio’s team said: “One trend in the market is uberization of medical equipment finance. The current era is very beneficial for equipment leasing and financing industry. In recent years the overall leasing industry has already crossed trillion marks and is on the path of never-ending profit maker business. The upcoming trend of Uberization will likely to bloom due to three main factors, which in turn will drive the demand of the leasing equipment at a higher scale.”
According to the report, one driver in the market is inflated cost of healthcare equipment. Healthcare facilities generate revenue through various procedures such as medical imaging, home-care services, endoscopy, anesthesia, dialysis, and other surgeries. Among the different segments of the global healthcare equipment leasing market, diagnostic imaging equipment leasing segment accounts for the largest share. The high cost of medical equipment has shifted the preference of end-users toward leasing instead of buying new equipment. This way the high maintenance and installation cost is reduced.
Further, the report states that one challenge in the market is growing popularity of refurbished equipment. Refurbished medical equipment is an attractive option for many end-users, who are eager to cut down the extreme costs, yet can obtain the necessary medical devices. The medical devices manufacturers are facing intense competition from the vendors who offer a broad range of refurbished equipment. The cost of refurbished equipment is almost 6-7 times lower than the new equipment. Therefore, small and mid-sized hospitals and diagnostic centers opt for buying them instead of paying for renewing the lease. Thereby, it poses a challenge to the global healthcare leasing equipment market. They also prefer refurbished equipment over leased equipment as these come with few years of warranty, which may vary with the type of equipment and its manufacturing year.
De Lage Landen International, GE Capital, National Technology Leasing, Oak Leasing, Rotech Healthcare, and Siemens Financial Services, Advantage+, Apria Healthcare, Byline Financial Group, CIT Group, Complete Leasing Solutions, CSI Leasing, IBJ Leasing Company, Johnson Reed, Lombard, Med One Group, Meridian Leasing, TeleLease, WestWon, and Woodley Equipment Company.