The India Medical Equipment Financing Market was valued at USD 3.81 Billion during FY2021. It is projected to expand at a CAGR of 13.30 percent, and increase to USD 8.36 Billion in FY2027. The improvement in healthcare infrastructure and the expanding healthcare industry has resulted in an increasing demand for top-quality, and high-tech health facilities across the nation. Here, we will discuss the India Medical Equipment Financing Market Forecast, Growth, Size, and Share 2022-2027.
This in turn raised the need for more technologically advanced methods of medical treatment as well as new and innovative equipment to offer these treatments and other services which are expensive to purchase. This is why purchasers prefer financing services to acquire these devices which are driving the expansion of the medical equipment financing market.
Click here to Download Free Sample Report
The sudden outbreak and spreading of the COVID-19 pandemic throughout the country, with a substantial number of patients being affected, has resulted in increased demands for medical supplies such as ventilators and oxygen concentrators hospital beds, and many more. The demand for costly diagnostic equipment has also increased significantly since many hospitals do not have these devices.
The increase in COVID-19-related cases contributed to the increase in demand for the equipment, which hospitals could not purchase right away through internal accruals. This led to a shift to financing medical equipment options. This has had a positive impact on the market's expansion.
The India Medical Equipment Financing Market is divided into equipment source and percentage of the sanctioned amount as well as tenure, end-user region, and company. Regarding the source and source, sources are grouped into India's finance market for medical devices are divided into NBFCs and banks.
The bank's segment is responsible for the largest portion of the market share of the India Medical Equipment Financing Market for FY2021 due to the rising market share of NBFCs, specifically in tier-1 and tier-2 cities. Furthermore, many multinational medical equipment manufacturers are developing financing options within the field of medical equipment. For example, Philips Healthcare provides healthcare financing options under its name Philips Capital in India in order to assist healthcare providers to obtain the latest technology, equipment, and services needed to enhance patient satisfaction at the lowest price.
Based on regions in terms of region, in terms of region, the Indian financial market for medical equipment is divided into four segments: North, South, West, and East. In the past, North India has dominated the Indian market for financing medical equipment with an estimated market share of 31%. It is anticipated to remain dominant over the next few years because of the high number of diagnostic centers and hospitals and laboratories in the region.
In addition, North India comprises cities with high populations, like Uttar Pradesh and Delhi, where there are massive patient pools that are seeking diagnosis and treatment of various illnesses and ailments which is causing a rise in demand for medical equipment, increasing the opportunities of financing for medical equipment within the region.
The major players operating in Indian medical equipment financing include HDFC Bank Limited, ICICI Bank Limited, State Bank of India, Siemens Financial Services Private Limited, Axis Bank Limited, and many more.
Market players are always developing sustainable strategies, such as providing attractive financing options as well as shifting to digital financing and so on. to stay competitive in the marketplace.
The years included in This Report for India Medical Equipment Financing Market
- Historical Years: FY2017 - FY2020
- Base Year: FY2021
- Estimated Year: FY2022
- Forecast Period: FY2023 - FY2027
The objective of the Study India Medical Equipment Financing Market
- To study the growth of the size of India the financing market for medical equipment between FY2017 and FY2021.
- To forecast and estimate the dimension of India's financial market of medical equipment for FY2022 through FY2027, and the increase rate to FY2027.
- To define, classify, and forecast India the market for financing medical equipment according to the type of equipment, the source, percent of the amount approved and tenure, end user region, as well as the company.
- To study and forecast market share by value for financing medical equipment with regard to equipment such as medical equipment for diagnosis, equipment to treat monitors for patients, and other equipment.
- To examine the market's detailed segmentation and forecast market size in terms of value, as well as in relation to region, by dividing regions. India's financial market of medical equipment is into 4 regions specifically four regions: North, South, East, and West.
- To determine the headwinds and tailwinds in the Indian health equipment finance industry.
- To study supply chain with margins, and analyze the pricing of India the financing market for medical equipment.
- To identify strategically the top players on the market who offer financing for medical equipment in India.
TechSci Research performed both primary as well as extensive secondary research in this study. In the beginning, TechSci Research sourced a list of service providers in the United States. Then, TechSci Research conducted primary surveys of research with these firms. When interviewing, respondents were also asked about their competition. By using this method, TechSci Research was able to find companies that were not able to be discovered because of being unable to conduct secondary research.
TechSci Research analyzed the financial service providers as well as the presence of all the major players in the nation. TechSci Research calculated the market size of India the medical equipment financing market employing a bottom-up strategy that included data for different segments of the end-user was recorded and forecasted for the coming years.
TechSci Research sourced these values from industry experts as well as company representatives, and then externally verified these values by analyzing past data from these segments to determine an accurate, global market size. Numerous secondary sources, such as news articles, company websites or press releases, annual reports of companies as well as investor presentations along with financial documents were examined through TechSci Research.
Key Target Audience for India Medical Equipment Financing Market
- Service providers for financing medical equipment and retail chains for medical equipment and other stakeholder groups
- Forums, organizations, and alliances that deal with the financing of medical equipment
- Authorities of the government, such as regulatory authorities as well as policymakers
- Firms that conduct market research and consult
The study can be useful in providing solutions to a variety of crucial questions that are vital for industry players including finance providers for medical equipment as well as customers and policymakers. It will also aid them to determine what segments of the market are most likely to be targeted in the future to plan investment strategies and take advantage of growth opportunities within the market.
Contact
Mr. Ken Mathews
708 Third Avenue,
Manhattan, NY,
New York – 10017
Tel: +1-646-360-1656
Email: sales@techsciresearch.com
Web: https://www.techsciresearch.com