India Medical Equipment Financing Market
India Medical Equipment Financing Market, 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) Trend Analysis, Competitive Market Share & Forecast, 2018-2028
- Published Date: May 2022
- Report ID: BWC22161
- Available Format: PDF
- Page: 118
Report Overview
The India medical equipment financing market flourishing at a high rate owing to the expanding medical and healthcare industry along with rapidly growing research and development activities in this sector...
India Medical Equipment Financing Market- Industry Trends & Forecast Report 2028
The India medical equipment financing market was worth USD 3.9 billion in 2021 and is further projected to reach USD 9.3 billion by the year 2028, growing at a CAGR of 13.20% in the forecast period. The market is flourishing at a high rate owing to the expanding medical and healthcare industry along with rapidly growing research and development activities in this sector. Furthermore, an increasing number of medical equipment financing providers is also presenting lucrative growth opportunities to the market.
Medical Equipment Financing - Overview
Medical equipment financing refers to the loans and credits offered to doctors and business owners to acquire expensive medical equipment and devices. Medical and healthcare facilities such as hospitals, diagnostic centers, nursing homes, pathology labs, etc., commonly seek these medical equipment financing services. These services offer multiple repayment options for the convenience of the borrower along with customized solutions for financing new or refurbished machines.
India Medical Equipment Financing Market Forecast and Trends
Growth Drivers
Expanding Private Healthcare Facilities
The demand for diagnostic and treatment of various chronic and infectious diseases is rising with the surging population. However, the number of hospital beds per 1000 people in India is extremely low. As a result, the healthcare industry in India is considered to register significant growth over the next few years. Therefore, businesses are increasingly establishing private healthcare facilities to tap into the opportunities for the growing market, which will fuel the demand for medical equipment financing in India.
Increasing Number of Medical Equipment Financing Providers
With an increasing number of private healthcare facilities and the need for credit to support medical equipment, the medical equipment financing providers are also increasing in India at a high rate. Several established financial institutions are entering the market and new companies are also launching their products. Companies like Indusind Bank, Hero FinCorp, Madison Capital, etc., are some of the leading names in this industry. This is anticipated to present significant growth opportunities to the market.
Restraints
Difficulty in Credit Approval and Lack of Awareness
The private hospitals, especially in small towns, are unaware regarding the availability of medical equipment financing, which acts as a major restraining factor for the market growth. And even if they are aware, these services are not easily accessible to them. This is because credit approval is a tedious process and involves a lot of paperwork which includes books of accounts as well. Furthermore, the high rate of interest on loans further limits the demand for medical equipment financing in India.
India Medical Equipment Financing Market - By Equipment
Based on equipment, the India medical equipment financing market is segmented into diagnostic equipment, therapeutic equipment, patient monitoring equipment, laboratory equipment, and medical furniture. The diagnostic equipment accounts for the largest share in the India medical equipment financing market because of the increasing prevalence of numerous chronic and infectious illnesses, as well as the demand for more rapid diagnostic tests. Furthermore, quick advancements in diagnostic equipment are a positive influence on the segment's growth.
India Medical Equipment Financing Market - By End-User
Based on end-user, the India medical equipment financing market is segmented into hospitals, clinics, laboratories and diagnostic centers, ambulatory surgical centers (ASCs), and others. The hospital's segment accounts for the largest market share owing to the increasing number of private healthcare facilities in India. Private hospitals are often dependent on loans and credit to acquire expensive medical equipment and devices such as anesthetic vaporizers, PET/CT scanners, etc., which is driving its market growth.
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.
Competitive Landscape
The leading market players in the India medical equipment financing market are 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., and other prominent players.
The India medical equipment financing market is increasingly becoming fragmented with the increasing number of financial institutions entering the market. The companies are launching plans and services that suit the needs of different kinds and sizes of medical and healthcare organizations. Furthermore, the adoption of competitive strategies such as partnerships, mergers, acquisitions, collaborations, etc., is also prominent in this market.
Recent Development
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In September 2021, Kotak Mahindra Bank announced it have entered the medical equipment financing market by launching its healthcare financing solutions including healthcare infrastructure loans, medical equipment finance, and unsecured healthcare loans.
Scope of the Report
Attributes |
Details |
Years Considered |
Historical data – 2018-2021 |
Base Year – 2021 |
|
Forecast – 2022 – 2028 |
|
Facts Covered |
Revenue in USD Billion |
Market Coverage |
Northern India, Southern India, Eastern India, and Western India |
Product Service/Segmentation |
By Equipment, By Type, By End-User, By Region |
Key Players |
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., and other prominent players. |
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
- Research Framework
- Research Objective
- Equipment Overview
- Market Segmentation
- Research Methodology
- Qualitative Research
- Primary & Secondary Research
- Quantitative Research
- Market Breakdown & Data Triangulation
- Secondary Research
- Primary Research
- Breakdown of Primary Research Respondents, By Region
- Assumption & Limitation
- Qualitative Research
- Executive Summary
- India Medical Equipment Financing Market Insights
- Industry Value Chain Analysis
- DROC Analysis
- Growth Drivers
- Restraints
- Opportunities
- Challenges
- Technological Landscape/Recent Development
- Regulatory Framework
- Porter’s Five Forces Analysis
- Bargaining Power of Suppliers
- Bargaining Power of Buyers
- Threat of New Entrants
- Threat of Substitutes
- Intensity of Rivalry
- India Medical Equipment Financing Market Overview
- Market Size & Forecast by Value, 2018-2028
- By Value (USD Billion)
- Market Share & Forecast
- 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
- By Equipment
- Market Size & Forecast by Value, 2018-2028
- Competitive Landscape
- List of Key Players and Their Equipment’s
- Market Share Analysis, 2021
- Competitive Benchmarking, By Operating Parameters
- Key Strategic Development (Merger, Acquisition, Partnership.)
- Impact of COVID-19 on India Medical Equipment Financing Market Industry
- Company Profile (Company Overview, Financial Matrix, Competitive landscape, Key Personnel, Key Competitors, Contact Address, and Strategic Outlook) **
- 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.
- Other Prominent Players
- Key Strategic Recommendations
List of Figures
Figure 1 India Medical Equipment Financing Segmentation
Figure 2 India Medical Equipment Financing Market Value Chain Analysis
Figure 3 Porter’s Five Forces Analysis
Figure 4 PESTEL Analysis
Figure 5 India Medical Equipment Financing Market Size, By Value (USD Billion), 2018-2028
Figure 6 India Medical Equipment Financing Market Share, By Type, By Value, 2018-2028
Figure 7 India Medical Equipment Financing Market Share, By Equipment, By Value, 2018-2028
Figure 8 India Medical Equipment Financing Market Share, By End User Industry, By Value, 2018-2028
Figure 9 Market Share Analysis, 2021
List of Tables
Table 1 India Medical Equipment Financing Market Size, By Type, By Value, 2018-2028
Table 2 India Medical Equipment Financing Market Size, By Equipment, By Value, 2018-2028
Table 3 India Medical Equipment Financing Market Size, By End User Industry, By Value, 2018-2028
Table 4 India Medical Equipment Financing Market Size, By Region, By Value, 2018-2028
Table 5 Key Players and Their Offerings
Table 6 Competitive Benchmarking, By Operating Parameters
Table 7 Merger Acquisition, Partnership, Joint-Ventures etc
Table 8 HDFC Bank Limited Company Overview
Table 9 HDFC Bank Limited Financial Overview
Table 10 ICICI Bank Limited Company Overview
Table 11 ICICI Bank Limited Financial Overview
Table 12 State Bank of India Medical Equipment Financing Company Overview
Table 13 State Bank of India Medical Equipment Financing Financial Overview
Table 14 Siemens Financial Services Private Limited Company Overview
Table 15 Siemens Financial Services Private Limited Financial Overview
Table 16 Axis Bank Limited Company Overview
Table 17 Axis Bank Limited Financial Overview
Table 18 Bajaj Finserv Limited Company Overview
Table 19 Bajaj Finserv Limited Financial Overview
Table 20 YES BANK LIMITED Company Overview
Table 21 YES BANK LIMITED Financial Overview
Table 22 IndusInd Bank Limited Company Overview
Table 23 IndusInd Bank Limited Financial Overview
Table 24 Moneywise Financial Services Pvt Ltd (SMC Finance) Company Overview
Table 25 Moneywise Financial Services Pvt Ltd (SMC Finance) Financial Overview
Table 25 Clix Capital Services Pvt. Ltd. Company Profile
Table 26 Clix Capital Services Pvt. Ltd. Financial Overview
Table 27 Phillip Capital (India) Pvt. Ltd Company Profile
Table 28 Phillip Capital (India) Pvt. Ltd Financial Overview
Market Segmentation
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
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