“Final Report will add the analysis of the impact of COVID-19 on industry.”
Report Ocean has recently published a comprehensive study on the India Medical Equipment Financing Market, covering the prediction period of 2023-2031. Throughout the years, this report has diligently examined the industry, taking into account various factors such as macroeconomic parameters, consumer buying patterns, microeconomic parameters, GDP growth rate, inflation rate, and market demand-supply scenarios.
market players, such as [HDFC Bank Limited, ICICI Bank Limited, State Bank of India, Siemens Financial Services Private Limited, Axis Bank Limited, Bajaj Finserv Limited, YES BANK LIMITED, IndusInd Bank Limited, Moneywise Financial Services Pvt Ltd (SMC Finance), Clix Capital Services Pvt. Ltd., Phillip Capital (India) Pvt. Ltd
Russia-Ukraine War on Market
The market is anticipated to suffer because of the Russia-Ukraine War. The demand for the market has decreased as a result of the political unrest and economic unrest in the area. The war had a detrimental impact on global economic activity, adding to inflationary pressures globally and hindering the post-pandemic recovery, even if it was not the primary cause of the slower-than-anticipated economic growth in 2022 and revised estimates for 2023.
Download Free Sample of This Strategic Report:https://reportocean.com/industry-verticals/sample-request?report_id=MR423
The healthcare sector is vital to both national economies and people all across the world. One of the industries with the fastest growth rates is this one. There is a correlation between income levels and healthcare spending across nations because healthcare spending accounts for more than 10% of the GDP of the majority of developed countries. According to the Centers for Medicare and Medicaid Services, US healthcare spending increased by 4.6% in 2019 to reach US$ 3.8 trillion, or US$ 11,582 per person and represented 17.7% of GDP. Additionally, households paid for 28.4% of all health expenditures, followed by the federal government for 29.0%. 16.1% of all healthcare costs were paid for by state and municipal governments, while 7.5% came from other private sources.
India Medical Equipment Financing Market to Grow at a CAGR of 13% during Forecast Period
India medical equipment financing market is growing at a high CAGR because of the increasing demand for consumer electronic goods such as smartphones, etc., along with increasing demand for IoT devices and expanding electric vehicle production
A recent study conducted by the strategic consulting and market research firm,Report Ocean, revealed that India medical equipment financing market was worth USD 3.9 billion in the year 2021. The India medical equipment financing market is projected to grow at a CAGR of 13.20%, earning revenues of around USD 9.3 billion by the end of 2028. The rising medical and healthcare industry, as well as quickly developing research and development efforts in this sector, are propelling the market forward at a rapid pace. Furthermore, the growing number of medical equipment finance companies is providing the industry with significant development potential. However, lack of awareness and difficulty in credit approval may act as a huge restraining factor for market growth.
Technological Advancements in Medical Equipment are Driving India Medical Equipment Financing Market
Medical equipment is constantly undergoing rapid transformations and advancements. They are witnessing integration with advanced technologies such as big data, IoT sensors, artificial intelligence (AI), machine learning, etc., to offer better diagnostics and treatment. Due to this, the older medical equipment becomes redundant and therefore, needs replacement as soon as possible to keep up with the changing dynamics of the healthcare industry. This is anticipated to fuel the growth of the India medical equipment financing market.
Request To Download Sample of This Strategic Report:-https://reportocean.com/industry-verticals/sample-request?report_id=MR423
Rising Demand from Research Institutes Propelling Market Growth
Medical research in India is gaining significant traction owing to the rising government focus on the medical research infrastructure and funding. With increasing funding from the government as well as private players it is possible to accumulate advanced medical equipment to carry out the research. However, medical equipment financing providers are also emerging as a viable option for sourcing medical equipment in research institutes. This is estimated to present lucrative growth opportunities for the market.
India Medical Equipment Financing Market – By Type
Based on type, the India medical equipment financing market is segmented into new medical equipment, rental equipment, and refurbished equipment. The new medical equipment segment holds the largest market share owing to the risk of failures as well as infection transmission from the use of rental or refurbished equipment. The businesses that are setting up new hospitals focus on offering the most advanced medical technologies due to which they acquire only new medical equipment.
India Medical Equipment Financing Market – Regional Insights
Geographically, the India medical equipment financing market is segmented into Northern India, Southern India, Eastern India, and Western India. Southern India accounts for the largest share in the India medical equipment financing market owing to the strong healthcare sector in this region. The state has the most hospitals with all functioning specializations was Tamil Nadu, followed by Karnataka, West Bengal, and Kerala, according to a report by Niti Aayog, due to which the demand for medical equipment financing is also high.
Market Segment:
By Equipment(Diagnostic Equipment, Therapeutic Equipment, Patient Monitoring Equipment, Laboratory Equipment, Medical Furniture)
By Type(New Medical Equipment, Rental Equipment, Refurbished Equipment)
By End-User(Hospitals, Clinics, Laboratories And Diagnostic Centers, Ambulatory Surgical Centers (Ascs), Others)
By Region(Northern India, Southern India, Eastern India, Western India)
Impact of COVID-19 on India Medical Equipment Financing Market
The COVID-19 pandemic outbreak in India provided the India medical equipment finance sector with significant expansion potential. The massive influx of COVID-19-affected patients threw India’s whole healthcare system into disarray. As a result, private healthcare institutions had to rely on loans to grow their healthcare capacity and meet their demands for COVID-19 diagnostic equipment as well as other essential medical accessories like PPE kits and medical masses. The medical equipment finance market in India grew tremendously as a result of this.
Get a Request Sample Report:– https://reportocean.com/industry-verticals/sample-request?report_id=MR423
Table of Content:
- Report Overview
- Global Growth Trends
- Competition Landscape by Key Players
- Data Segments
- North America Market Analysis
- Europe Market Analysis
- Asia-Pacific Market Analysis
- Latin America Market Analysis
- Middle East & Africa Market Analysis
- Key Players Profiles Market Analysis
- Analysts Viewpoints/Conclusions
- Appendix
Reasons to Buy:
Informed decision-making: Market research reports provide valuable insights into industry trends, customer behavior, and competitor analysis. This information can help businesses make informed decisions about product development, pricing, and marketing strategies.
Competitive advantage: By identifying market gaps and opportunities, market research reports can provide a competitive advantage that can help businesses differentiate themselves from their competitors and gain a larger share of the market.
Industry expertise: Market research reports are prepared by industry experts who have a deep understanding of the market and its dynamics. These reports provide an unbiased and objective view of the industry, which can be invaluable for businesses that want to gain a deeper understanding of the market.
Saves time and money: Conducting market research can be time-consuming and expensive. By purchasing a market research report, businesses can save time and money by accessing a comprehensive and detailed analysis of the market.Risk management : Market research reports can help businesses manage risks associated with market entry, product development, and expansion. By providing a detailed analysis of the market and its trends, businesses can make informed decisions that minimize risks and maximize returns.
Request full Report– https://reportocean.com/industry-verticals/sample-request?report_id=MR423
About Report Ocean:
We are the best market research reports provider in the industry. Report Ocean believes in providing quality reports to clients to meet the top line and bottom line goals which will boost your market share in today’s competitive environment. Report Ocean is a ‘one-stop solution’ for individuals, organizations, and industries that are looking for innovative market research reports.
Get in Touch with Us:
Report Ocean:
Email:sales@reportocean.com
Address: 500 N Michigan Ave, Suite 600, Chicago, Illinois 60611 – UNITED STATES
Tel:+1 888 212 3539 (US – TOLL FREE)
Website:https://www.reportocean.com