The global healthcare finance solutions market is expected to grow at a CAGR of around 7.0% from 2019 to 2026 and expected to reach around US$ 150.4 Bn by 2026.
Collection of financial capital solutions that facilitate mobilization of funds to support the parties to cover for the various healthcare needs such as financing for the medical treatment, equipment, up-gradation of the existing infrastructure of facility, and various other forms. Major users of these solutions are hospitals, clinics, diagnostic laboratories, imaging centers, pharmacies, skilled nursing facilities, and urgent care centers.
The continuous change in the government regulations to improve healthcare processes & performance and the need for hi-tech equipment and technology to improve accuracy and efficiency are some of the driving factors of this market. Furthermore, an increase in chronic diseases due to unhealthy lifestyle, growing aging population across the world, and advances in early diagnosis are responsible for enhancing global healthcare expenditures.
The overall healthcare sector needs a large number of investments to support current digital shift and hi-tech instruments. Some of the big financial solution providers are providing great deals in the market to support healthcare. For example, Thermo Fisher Scientific, Inc. and Siemens Financial Services (SFS) are assisting healthcare facilities to achieve their operational and clinical goals by adopting advanced technology.
Lack of government budget, limited resources, and limited-to-nonexistent access to the capital market are some of the major factors responsible for the entry of various private organizations into the finance solution market to support healthcare providers.
Based on the healthcare facility, the market has been segmented into hospitals, outpatient imaging centers, outpatient surgery centers, diagnostic laboratories, physician practices & clinics, skilled nursing facilities, pharmacies, and other healthcare facilities. Hospitals held the maximum share of the market in 2018. High demand from the hospital settings was a key reason for the dominance of the segment and this can be due to increasing number of hospitals, greater adoption of technologically advanced equipment and solutions, and a large patient base. Frequently changing regulations for healthcare settings and expansion of facilities due to increasing patient pool, the hospital needs financial support. The segment is also expected to observe significant growth during the forecast period.
Based on the various services, the healthcare finance solutions market is segmented into working capital finance, equipment & technology finance, project finance solution, working capital finance, and corporate lending. In 2018, equipment & technology accounted for the largest share of the market. This is due to the huge capital necessary for the high-cost equipment & technology set up in the healthcare settings and the necessity of a wide range of equipment. Continuous advancement in equipment needs updation of existing setup. This will further increase the cost of such devices and will impact on the healthcare finance solutions market.
North America accounted for the largest share of the market in 2018 and is expected to observe the fastest growth during the forecast period. This can be attributed to the presence of high awareness about advantages of this software, the local presence of major software and service provider for the healthcare industry, easy access to quality health services, and greater adoption of healthcare solutions by the healthcare industry in the U.S. and Canada. It is observed that healthcare organizations collectively can save USD 300 – USD 450 billion annually across the U.S. by opting for business intelligence and big data. Major players operating in the U.S. are Commerce Bancshares, Inc. and Siemens Financial Services, Inc. However, Asia Pacific is anticipated to observe the fastest growth during the forecast period due to the presence of a large patient base, increasing healthcare expenditure, and investment by international market players considering high demand in this region.
The market research study on “Healthcare Finance Solutions Market – Global Industry Analysis, Market Size, Opportunities and Forecast, 2019 – 2026”, offers a detailed insight on the global healthcare finance solutions market entailing insights on its different market segments. Market dynamics with drivers, restraints, and opportunities with their impact are provided in the report. The report provides insights into the global healthcare finance solutions market, its services, healthcare facilities, and major geographic regions. The report covers basic development policies and layouts of technology development processes. Secondly, the report covers global healthcare finance solutions market size and segment markets by healthcare facilities, services, and geography along with the information on companies operating in the market. The healthcare finance solutions market analysis is provided for major regional markets including North America, Europe, Asia Pacific, Latin America and Middle East and Africa. For each region, the market sizes for different segments have been covered under the scope of the report.
The companies profiled in the global healthcare finance report include CIT Group, Inc., Commerce Bankshares, Inc., Gemino Healthcare Finance, General Electric Company, Koninklijke Philips N.V., Oxford Finance LLC, Siemens Financial Services, Inc., Stryker, TCF Capital Solutions, and Thermo Fisher Scientific, Inc. Market players are focusing on the adoption of key strategies such as acquisitions and partnerships to enhance their share in the regional as well as global healthcare finance solutions market.
By Healthcare Facility
Outpatient Imaging Centers
Outpatient Surgery Centers
Physician Practices & Clinics
Skilled Nursing Facilities
Working Capital Finance
Equipment & Technology Finance
Project Finance Solution
Working Capital Finance
Middle East & Africa
Major users of healthcare finance solutions are hospitals, clinics, diagnostic laboratories, imaging centers, pharmacies, skilled nursing facilities, and urgent care centers.
Acumen Research and Consulting says, the global healthcare finance solutions market size expected to reach around US$ 150.4 Bn by 2026.
The global healthcare finance solutions market is expected to grow at a CAGR of around 7.0% from 2019 to 2026.
The continuous change in the government regulations to improve healthcare processes & performance and the need for hi-tech equipment and technology to improve accuracy and efficiency are some of the driving factors of this market.
CIT Group, Inc., Commerce Bankshares, Inc., Gemino Healthcare Finance, General Electric Company, Koninklijke Philips N.V., Oxford Finance LLC are the top key players entered in the healthcare finance solutions market.