Global Medical Equipment Financing Market is Predicted To Grow Around $278 Bn by 2030

15-Feb-2023 | Zion Market Research

The global medical equipment financing market size was worth around USD 161.87 Billion in 2022 and is predicted to grow to around USD 278 Billion by 2030 with a compound annual growth rate (CAGR) of roughly 7% between 2023 and 2030.

Medical equipment financing reverts to monetary transactions that place between a loan borrower and a provider. The only difference between conventional financing activities and medical equipment financing is that the latter deals solely with entities related to medical equipment. It can be considered a loan curated specially for personnel and corporations in the healthcare industry and can only be used to buy, sell, or refurbish medical devices.

In most cases, when money is borrowed against a piece of medical machinery, it is also considered collateral and there may not be any need for additional collateral. These loans can be used to buy or finance several types of equipment ranging from X-ray machines, Computed Tomography (CT) scans, Magnetic resonance imaging (MRI) machines, hospital beds, optometry instruments, dental devices, and other equipment.

This makes it exceptionally accommodative and flexible financial assistance that is available for businesses operating in the healthcare community. There are several advantages that come along with medical equipment financing and are also the leading cause of the growth witnessed.

Global Medical Equipment Financing Market Size

The global medical equipment financing market is projected to register a high CAGR owing to the growing importance given to financial management in the healthcare sector, especially witnessed during 2020 and 2021 owing to the impact of Covid-19. Undertaking financial assistance for medical equipment helps the borrower to constantly have access to upgraded technology which in turn is bound to help the medical entity repay the loans as the demand for advanced medical machinery is at an all-time high.

The growing rate of medical infections, rising healthcare infrastructure, and increasing access to medical care are some of the reasons why doctors and physicians are registering a high rate of patient influx. In addition to this, the demand for superior-quality medical assistance has risen exponentially during the last few years. The increasing disposable income, government initiatives, along with programs undertaken by national and international healthcare bodies are reasons why the world is witnessing investments directed toward upgrading medical-care quality. However, such activities require high funding and this can be achieved using financial aid from external agencies.

However, during the forecast period, there could be certain roadblocks against medical equipment financing industry expansion. One of the primary concerns that many service providers have is the associated risk of the medical equipment getting obsolete before it reaches its true potential in terms of return on investment (ROI). Furthermore, many medical professionals or entities prefer to not invest in new systems and instead work on upgrading or maintaining the current equipment they have in their inventory. This greatly restricts the global market growth.

The growing technological advancements may provide expansion opportunities, whereas the less number of players to challenge market growth.

Market Segmentation Analysis

The global medical equipment financing market is segmented based on end-user, equipment, type, and region

Based on end-user, the global market is divided into clinics, hospitals, ambulatory surgical centers, hospitals, and others

Based on equipment, the global market divisions are laboratory equipment, therapeutic equipment, diagnostic equipment, patient monitoring equipment, and medical furniture.

  • In 2022, the medical equipment financing industry witnessed the highest growth in the diagnostic equipment segment and generated more than USD 48 billion in terms of revenue
  • The growth in the healthcare sector is a primary reason for higher investments in cutting-edge, high-quality, and premium medical equipment
  • Other segmental growth factors are the increased demand for improved medical care, rising government initiatives, and the advantages of undertaking financial assistance

Based on type, the global market is segmented into refurbished equipment, rental equipment, and new equipment

  • In 2022, the medical equipment financing industry dominance was seen in the refurbished equipment segment 2021 with a revenue of USD 16.7 billion
  • Refurbished equipment undergo necessary quality check before they put to use in the live market
  • Several companies offer remodeling services at a nominal cost of refurbished medical devices
  • During these processes, the piece of equipment undergoes restoration activities along with disinfection and other necessary changes so that it can provide the best performance

Global Medical Equipment Financing Market

North America is projected to register the highest growth in the global medical equipment financing market, mainly driven by the excellent healthcare infrastructure of the US and Canada. The medical architecture includes the financial strength of the medical professionals or entities operating in the country. The region has some of the most well-aware service providers and takers, which helps in regional growth. Europe was the second-most leading region in 2022 and is expected to continue its growth trend due to the presence of higher knowledge amongst medical professionals related to financing and a steady service adoption rate. Furthermore, the growing emphasis on same-day surgery like eye operations, endoscopy, and laparoscopy along with other operations could act as a driving factor for the regional market adoption statistics.

This review is based on a report by Zion Market Research, titled Medical Equipment Financing Market By End-User (Clinics, Hospitals, Ambulatory Surgical Centers, Laboratories & Diagnostic Centers, and Others), By Equipment (Laboratory Equipment, Therapeutic Equipment, Diagnostics Equipment, Patient Monitoring Equipment, and Medical Furniture), By Type (Refurbished Equipment, Rental Equipment, and New Medical Equipment), and By Region - Global and Regional Industry Overview, Market Intelligence, Comprehensive Analysis, Historical Data, and Forecasts 2023 – 2030.”- Report at

Recent Developments:

  • In February 2022, Toronto-Dominion Bank and First Horizon announced the signing of a new contract that will allow Toronto-Dominion Bank to completely acquire First Horizon. The deal is worth USD 13 billion and will help TD strengthen its hold in the global market
  • In December 2021, API Holdings Limited and Piramal Capital & Housing Finance entered a joint collaboration in which the latter will offer its digital platform Retailio to API Holding. This will allow the company to improve its financial assistance services to all stakeholders

The global medical equipment financing market is led by players like:

  • First American Equipment Finance
  • Hero FinCorp
  • SLR Healthcare ABL
  • JPMorgan Chase & Co.
  • National Funding
  • Siemens Financial Services Inc.
  • Blue Bridge Financial LLC
  • Truist Bank
  • SMC Finance
  • HDFC Bank
  • TIAA Bank
  • Macquarie Group Limited.

The global medical equipment financing market is segmented as follows:

By End-User

  • Clinics
  • Hospitals
  • Ambulatory Surgical Centers
  • Laboratories & Diagnostic Centers
  • Others

By Equipment

  • Laboratory Equipment
  • Therapeutic Equipment
  • Diagnostics Equipment
  • Patient Monitoring Equipment
  • Medical Furniture

By Type

  • Refurbished Equipment
  • Rental Equipment
  • New Medical Equipment

By Region

  • North America
    • The U.S.
    • Canada
  • Europe
    • France
    • The UK
    • Spain
    • Germany
    • Italy
    • Rest of Europe
  • Asia Pacific
    • China
    • Japan
    • India
    • South Korea
    • Southeast Asia
    • Rest of Asia Pacific
  • Latin America
    • Brazil
    • Mexico
    • Rest of Latin America
  • Middle East & Africa
    • GCC
    • South Africa
    • Rest of Middle East & Africa

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