The global healthcare finance solutions market was valued at USD 126.36 billion in 2023 and is expected to grow at a CAGR of 7.5% during the forecast period.
Factors such as the continual need for process and performance improvement, the demand for advanced equipment and technology, and the increasing prevalence of chronic diseases and a growing global geriatric population are contributing to the growth of the industry. Advances in early diagnosis are also influencing healthcare expenditures worldwide. Notably, key providers like Siemens Financial Services (SFS) are offering significant support to healthcare providers in achieving their clinical and operational goals through digitalization.
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Healthcare systems face financial challenges in delivering high-quality care due to government budget constraints, limited resources, and restricted access to the capital market. Despite these challenges, the industry is expected to experience growth in the forecast period, driven by the decreasing cost of treatment facilitated by technological advancements. As an example, the equipment finance industry saw a 7.4% increase in volume in 2021, as reported by the Equipment Leasing & Finance Association (ELFA).
Furthermore, the -2.9% contraction in the volume of imaging equipment finance solutions in 2020, attributed to the pandemic, was alleviated by the easing of restrictions in 2021. The sudden surge in demand for hospital equipment helped counteract the negative effects of the pandemic, leading to a significant rebound in the market in 2021, a trend expected to persist throughout the forecast period. The healthcare sector is dynamic and continually expanding. Progress in digital technology, a growing prevalence of diseases, and the introduction of advanced drugs and medicines have heightened demand and expenditure in the healthcare industry.
The Healthcare Finance Solutions Market report details key market dynamics to help industry players align their business strategies with current and future trends. It examines technological advances and breakthroughs in the industry and their impact on the market presence. Furthermore, a detailed regional analysis of the industry at the local, national, and global levels has been provided.
Growth Drivers
Growing Need for Efficient Revenue Cycle Management
The healthcare system is undergoing a transformation from a volume-based to a value-based care approach, aiming to enhance patient outcomes and engagement. Traditional fee-for-service models, reliant on volume-based care, lack the assurance of successful patient outcomes. Irrespective of the necessity or success of a service, healthcare providers receive compensation for each rendered service. The core goal of the value-based care delivery framework is to improve healthcare outcomes while managing costs. In this model, payers have the flexibility to designate a primary provider responsible for budget allocation to secondary healthcare providers, departing from the direct payment to individual healthcare providers.
The market is primarily segmented based on equipment type, facility type, services, and region.
By Equipment Type |
By Facility Type |
By Services |
By Region |
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Decontamination Equipment Segment Accounted for the Largest Market Share in 2023
Decontamination equipment segment accounted for the largest share. This is primarily due to its high cost and substantial capital investment requirements. Decontamination equipment is crucial for ensuring the safety of patient care equipment. With an increasing number of patients being exposed to infections and a growing urgency to eliminate infections, the decontamination equipment segment is expected to witness growth. The reuse of surgical devices is only deemed safe after undergoing proper decontamination procedures.
Special beds segment will grow rapidly. This growth is attributed to the increasing demand for advanced beds in healthcare facilities. Additionally, supportive government initiatives aimed at enhancing healthcare infrastructure are projected to contribute to the overall industry growth. Specialist beds are designed to effectively address various medical conditions, including legacy beds, standing beds, and turning beds. These beds are specifically tailored to treat severe injuries such as back and spinal injuries.
Hospital & Health Systems Segment Held the Significant Market Share in 2023
Hospital & health systems segment held the significant market share. This is primarily due to the increasing number of hospitals and health systems. Hospitals face a myriad of challenges, including navigating through frequently changing laws and regulations, addressing the rising demands of patients, and expanding healthcare access. These challenges require significant financial support to ensure the effective functioning of hospitals and health systems. As a result, the financial solutions provided to this segment play a crucial role in helping healthcare institutions manage their operations, investments, and adapt to the evolving healthcare landscape.
Outpatient surgery centers segment is expected to gain substantial growth rate. It is driven by the increasing establishment of such facilities on a global scale. According to a 2021 article published by Radius Anesthesia, there has been a steady rise in the number of outpatient surgery centers. This growth is reflected in the substantial increase in the total number of outpatient surgeries performed across ASCs. For instance, the percentage of out-patient surgeries conducted in ASCs was 32% in 2008, and this figure has significantly risen to 80%, by 2023.
Equipment & Technology Finance Segment Held the Significant Market Share in 2023
This dominance is attributed to the substantial capital needed for setting up healthcare infrastructure and acquiring expensive medical equipment, necessitating financial assistance. The evolution of digital technology has the potential to enhance the patient experience through real-time access to medical services and related support.
Corporate lending segment is expected to gain substantial growth rate. This accelerated growth can be attributed to the rising presence of private financial institutions offering adaptable solutions in corporate lending. These institutions are gaining traction in both developed and developing economies due to their ability to provide flexible financial solutions tailored to the specific needs of corporate clients.
North America Dominated the Global Market in 2023
Market's growth in the region is driven by factors such as a growing elderly population, an uptick in chronic illness cases, and supportive initiatives from government bodies. With the presence of numerous key players, the region is expected to witness lucrative growth throughout the forecast period. The United States stands out as a top producer and developer of technologically advanced healthcare products, contributing to the overall rise in healthcare costs for patients.
The Asia Pacific will grow with substantial pace. This growth is driven by a substantial patient base and a simultaneous rise in healthcare expenditure across the region. For instance, the escalation of healthcare costs has outpaced real wage growth, with Australia witnessing 3.3 times increase and Singapore experiencing a more pronounced 7.8 times increase. Therefore, 57% of consumers perceive paying for medical expenses out of pocket as unaffordable, and 42% believe that private insurance premiums are spiraling out of control. These factors contribute to the overall dynamics propelling the healthcare finance solutions market in the region.
Some of the major players operating in the global market include:
Report Attributes |
Details |
Market size value in 2024 |
USD 135.67 billion |
Revenue forecast in 2032 |
USD 242.05 billion |
CAGR |
7.5% from 2024 – 2032 |
Base year |
2023 |
Historical data |
2019 – 2022 |
Forecast period |
2024 – 2032 |
Quantitative units |
Revenue in USD billion and CAGR from 2024 to 2032 |
Segments covered |
By Equipment Type, Facility Type, By Service, By Region |
Regional scope |
North America, Europe, Asia Pacific, Latin America, Middle East & Africa |
Customization |
Report customization as per your requirements with respect to countries, region, and segmentation. |
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The global healthcare finance solutions market size is expected to reach USD 242.05 billion by 2032
Philips, General Electric, Siemens Financial, Stryker, Gemino Healthcare Finance, Oxford Finance are the top market players in the market
North America region contribute notably towards the global Healthcare Finance Solutions Market
The global healthcare finance solutions market is expected to grow at a CAGR of 7.5% during the forecast period
The Healthcare Finance Solutions Market report covering key segments are type, facility type, services, and region