Global Industry Analysts, Inc. (GIA) announces the release of a comprehensive global report on Medical Equipment Rental and Leasing markets. According to the report, the global market for medical equipment rental and leasing is forecast to reach US$56 billion by the year 2017, driven by the economies associated with the usage of leased medical equipment and devices. Additionally, the demand for rental and leasing of medical equipment also stems from other factors, such as easier financing options, faster credit approval period, and continued servicing.
The dynamic changes in the medical equipment industry lead to regular and frequent upgradation of technology, resulting in the emergence of expensive medical equipment, particularly imaging equipment. With unpredictable economic conditions faced by the healthcare industry, more and more healthcare service and equipment providers are turning to leasing of medical equipment and devices. Rental and leasing of medical devices is fast catching up in the healthcare sector, repelling the traditional loan and credit purchase system. Rental and leasing of medical equipment is an affordable and quick solution for hospitals, blood banks, reference laboratories, nursing homes, physician offices, and clinics that are constrained by tightened budgets. The medical equipment leasing for hospitals and clinics provides tax benefits, coupled with conserving cash flow. The commonly leased medical equipment includes X-Ray machines, Ultrasound systems, Patient monitoring equipment, and laboratory equipment.
The economic downturn has severely affected capital budgets of various healthcare centers and hospitals, where the need for acquiring new equipment continues to provide better patient care and survive competition. As a result, several hospitals began adopting operating lease agreements in a bid to put any such acquisitions out of balance sheets. Operating leases enable cash-strapped hospitals and healthcare centers to acquire new equipment, without the need to wait for the time when capital budgets would be substantial enough to make such purchases. In addition to the renewed interest in operating leases, more and more customers showed inclination towards product bundling during the recession.
Hospitals began purchasing all aspects of a system, including equipment, software, financing and services from one single source. This not only raises efficiency of the hospitals but also reduces costs. Hospitals sought lesser leasing agreements with larger bundles, even as they showed continued inclination towards diversifying financing sources.
Major players profiled in the report include Access Equipment Leasing, Agfa Finance Group, Baxter Credit and Leasing Services, Direct Capital Corp., Elekta Group (Sweden), GE Healthcare Financial Services, Hill-Rom Holdings Inc., IBJ Leasing Company Ltd., IBM Global Financing, National Technology Leasing Corp., Olympus America Inc., Philips Medical Capital, Prudential Leasing Inc., Resource Diversified Services Inc., Siemens Financial Services, Stryker Corp., among others.
The research report titled “Medical Equipment Rental and Leasing: A Global Strategic Business Report” announced by Global Industry Analysts Inc., provides a comprehensive review of the Medical Equipment Rental and Leasing markets, current market trends, key growth drivers, an insight into the global leasing industry, recent industry activity, and profiles of major/niche global as well as regional market participants. The report provides annual sales estimates and projections for Medical Equipment Rental and Leasing market for the years 2009 through 2017 for the following geographic markets - US, Japan, Europe, and Rest of World. Also, a six-year (2003-2008) historic analysis is provided for additional perspective.
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