Global Healthcare Equipment Leasing Market Size (2024 - 2029)

The healthcare equipment leasing market is experiencing significant growth, driven by the increasing demand for advanced healthcare equipment and the high costs associated with purchasing such equipment. The market's expansion is further supported by the rise in partnerships for medical equipment financing, particularly in small and mid-sized hospitals in developing regions. The COVID-19 pandemic has accelerated the adoption of leasing models, as healthcare providers seek flexible financing options to meet rapidly changing equipment needs. Despite these growth drivers, challenges such as the high cost of medical equipment degradation and the necessity for frequent updates to keep pace with technological advancements may impede market growth.

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Market Size of Global Healthcare Equipment Leasing Industry

Healthcare Equipment Leasing Market Summary
Study Period 2019 - 2029
Base Year For Estimation 2023
Forecast Data Period 2024 - 2029
CAGR 15.56 %
Fastest Growing Market Asia-Pacific
Largest Market North America

Major Players

Healthcare Equipment Leasing Market Major Players

*Disclaimer: Major Players sorted in no particular order

Healthcare Equipment Leasing Market Analysis

The healthcare equipment leasing market is expected to register a CAGR of 15.56 % during the forecast period (2022-2027).

Covid-19 has significantly impacted the market growth due to the rise in the adoption of leasing healthcare equipment to withstand the high traffic of Covid-19 patients. According to the news published by the Eqmarket equipment Leasing and Finance Foundation in August 2020, receivables have held up quite well so far, indicating that businesses were in relatively good shape before the crisis, and COVID-19 has improved the equipment leasing and finance industry's confidence. In addition, according to the DLL financial solutions partners, in August 2020, there was a significant shift in demand for healthcare equipment. Many of the company's partners and clients at DLL have experienced quickly changing budgets and equipment requirements. Flexible financing alternatives have been able to respond to shifting needs by allowing for the speedy deployment of critical assets as well as the preparation for an influx of future procedures. This shows that the market has a significant impact of COVID-19 on it.

The major factors driving the growth of this market include the high cost of healthcare equipment, rise in demand for advanced healthcare equipment, rising number of hospitals and clinics offering advanced care, and tax benefits of leasing equipment, among others.

Rising partnerships for medical equipment financing in the small and mid-size hospitals in underdeveloped and developing countries are expected to propel the growth of this market over the forecast period. For instance, in May 2021, GE Healthcare and NSIA Banque Côte d'Ivoire have partnered with International Finance Corporation (IFC's) Africa Medical Equipment Facility to support healthcare providers in Cameroon, Côte d'Ivoire, Kenya, Rwanda, Senegal, Tanzania, and Uganda access essential medical equipment to help small businesses in Africa's health sector strengthen their response to COVID-19 and other pressing healthcare challenges.

In addition, in February 2020, Wells Fargo & Company established a vendor financing arrangement with Siemens Healthineers, which will provide hospitals and health systems across the United States with competitive, comprehensive financing choices. Siemens Healthineers clients will be offered comprehensive and affordable financing alternatives through the Wells Fargo Medical Equipment Finance Program, which will help with technology acquisition. Such initiatives will lead to increased adoption of medical equipment leasing services by healthcare organizations, driving the market growth.

Moreover, according to the study published in EMBO reports, titled 'To buy or to lease in April 2020, academic core facilities can save money by leasing rather than buying scientific instruments, allowing them to keep technologically ahead of the competition while maintaining predictable and constant prices. Leasing, in its different forms, has become an appealing technique for acquiring a wide range of products due to the growing speed of technological progress. Such benefits of leasing over purchasing the healthcare equipment will therefore lead to rising in demand for leasing medical equipment, driving the market growth.

However, highly expensive medical equipment degradation for the lessor and the need to continuously replace the on-demand equipment and keep pace with the technological advancements are the factors that are expected to hinder the market growth.

Healthcare Equipment Leasing Industry Segmentation

As per the scope of the report, healthcare equipment lessors and lessees enter into an arrangement in which the lessor permits the lessee to use the equipment for a set amount of time in exchange for lease rentals. Leasing businesses can finance costly medical equipment such as MRI machines, X-Ray machines, and ventilators without having to put up big sums of money upfront. At the end of the lease term, the equipment can be returned to the lessor or acquired at the current market price. The healthcare equipment leasing market is segmented by product (durable medical equipment, surgical and therapy equipment, personal and home-care equipment, digital and electronic equipment, storage and transport equipment), end user (hospitals, diagnostic centers, clinics, and others), and geography (North America, Europe, Asia-Pacific, Middle East and Africa, and South America). The market report also covers the estimated market sizes and trends for 17 different countries across major regions globally. The report offers the value (in USD million) for the above segments.

By Product
Durable Medical Equipment
Surgical and Therapy Equipment
Personal and Home-Care Equipment
Digital and Electronic Equipment
Storage and Transport Equipment
By End User
Hospitals
Diagnostic Centers
Clinics
Others
Geography
North America
United States
Canada
Mexico
Europe
Germany
United Kingdom
France
Italy
Spain
Rest of Europe
Asia-Pacific
China
Japan
India
Australia
South Korea
Rest of Asia-Pacific
Middle East and Africa
GCC
South Africa
Rest of Middle East and Africa
South America
Brazil
Argentina
Rest of South America
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Global Healthcare Equipment Leasing Market Size Summary

The healthcare equipment leasing market is experiencing significant growth, driven by factors such as the high cost of healthcare equipment, increasing demand for advanced medical devices, and the financial benefits of leasing. The COVID-19 pandemic has accelerated this trend, as healthcare providers sought flexible financing solutions to manage the surge in patient numbers and adapt to rapidly changing equipment needs. Partnerships and initiatives aimed at enhancing access to medical equipment in developing regions further bolster market expansion. The durable medical equipment segment, in particular, is witnessing increased demand due to the growing preference for home care services and the need for respiratory equipment during the pandemic. Regulatory support, such as Medicare's coverage of durable medical devices, is also expected to contribute to the segment's growth.

North America holds a dominant position in the healthcare equipment leasing market, supported by a robust healthcare infrastructure, a high prevalence of chronic diseases, and the presence of key market players. The region's market growth is further fueled by acquisitions and strategic partnerships that expand service offerings and enhance market reach. The substantial number of hospitals and healthcare facilities in the United States drives the demand for advanced medical equipment, supporting the leasing market's expansion. The competitive landscape is characterized by the presence of major players like Hill-Rom, Inc., Agiliti Health, Inc., and Getinge AB, who are actively engaging in partnerships and acquisitions to strengthen their market positions.

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Global Healthcare Equipment Leasing Market Size - Table of Contents

  1. 1. MARKET DYNAMICS

    1. 1.1 Market Overview

    2. 1.2 Market Drivers

      1. 1.2.1 Inflated Cost of Healthcare Equipment

      2. 1.2.2 Increase in Demand for Advanced Healthcare Equipment

      3. 1.2.3 Rising Number of Hospitals and Clinics Offering Advanced Care

    3. 1.3 Market Restraints

      1. 1.3.1 Highly Expensive Medical Equipment Upgradation

      2. 1.3.2 Need to Continuously Replace the On-Demand Equipment and Keep Pace with Technological Innovations.

    4. 1.4 Porter's Five Forces Analysis

      1. 1.4.1 Threat of New Entrants

      2. 1.4.2 Bargaining Power of Buyers/Consumers

      3. 1.4.3 Bargaining Power of Suppliers

      4. 1.4.4 Threat of Substitute Products

      5. 1.4.5 Intensity of Competitive Rivalry

  2. 2. MARKET SEGMENTATION (Market Size by Value - USD million)

    1. 2.1 By Product

      1. 2.1.1 Durable Medical Equipment

      2. 2.1.2 Surgical and Therapy Equipment

      3. 2.1.3 Personal and Home-Care Equipment

      4. 2.1.4 Digital and Electronic Equipment

      5. 2.1.5 Storage and Transport Equipment

    2. 2.2 By End User

      1. 2.2.1 Hospitals

      2. 2.2.2 Diagnostic Centers

      3. 2.2.3 Clinics

      4. 2.2.4 Others

    3. 2.3 Geography

      1. 2.3.1 North America

        1. 2.3.1.1 United States

        2. 2.3.1.2 Canada

        3. 2.3.1.3 Mexico

      2. 2.3.2 Europe

        1. 2.3.2.1 Germany

        2. 2.3.2.2 United Kingdom

        3. 2.3.2.3 France

        4. 2.3.2.4 Italy

        5. 2.3.2.5 Spain

        6. 2.3.2.6 Rest of Europe

      3. 2.3.3 Asia-Pacific

        1. 2.3.3.1 China

        2. 2.3.3.2 Japan

        3. 2.3.3.3 India

        4. 2.3.3.4 Australia

        5. 2.3.3.5 South Korea

        6. 2.3.3.6 Rest of Asia-Pacific

      4. 2.3.4 Middle East and Africa

        1. 2.3.4.1 GCC

        2. 2.3.4.2 South Africa

        3. 2.3.4.3 Rest of Middle East and Africa

      5. 2.3.5 South America

        1. 2.3.5.1 Brazil

        2. 2.3.5.2 Argentina

        3. 2.3.5.3 Rest of South America

Global Healthcare Equipment Leasing Market Size FAQs

The Global Healthcare Equipment Leasing Market is projected to register a CAGR of 15.56% during the forecast period (2024-2029)

Hill-Rom, Inc., Agiliti Health, Inc, DLL, Oak Leasing and Getinge AB are the major companies operating in the Global Healthcare Equipment Leasing Market.

Medical Equipment Leasing Market Report Snapshots

Healthcare Equipment Leasing Market Size & Share Analysis - Growth Trends & Forecasts (2024 - 2029)