The U.S. healthcare finance solutions market size was estimated at around USD 46.2 billion in 2021 and it is projected to hit around USD 89.9 billion by 2030, growing at a CAGR of 7.68% from 2022 to 2030.
The need for capital investment and the development of healthcare infrastructure are some of the key factors boosting the growth of the market. The COVID-19 pandemic has positively changed the growth projections of the market.
Healthcare is an evolving and expanding industry. The increasing prevalence of diseases, advances in digital technology, and the introduction of novel drugs and medicines have led to a rise in healthcare demand and expenditure. In today’s world, the healthcare system is shifting from volume to value-based care to improve patient care and engagement. Competitive pricing & improved quality of healthcare services and changes in reimbursement plans in the U.S. are expected to drive the healthcare finance solutions market over the forecast period.
The COVID-19 pandemic has increased the adoption of digitalization in healthcare. It has increased the requirement for funding in the healthcare sector to maintain the cash flow of day-to-day activities. With increased costs related to COVID-19 and the lost revenue from the cancellation of outpatient office visits, elective surgeries, and elective procedures, hospitals throughout the country became financially stressed.
The increasing consumer demand and frequently changing laws are also contributing to the growth. For instance, in 2016, the mission of The Department of Health and Human Services has entailed improving patient outcomes and reducing medical costs. These changes are driving the need for financial services in the healthcare sector. Also, the requirement for investment in advanced and innovative technology and services to reduce the overall healthcare expenditure is expected to propel the market growth during the forecast period.
Scope of The Report
|Market Size in 2021||USD 46.2 billion|
|Revenue Forecast by 2030||USD 89.9 billion|
|Growth rate from 2022 to 2030||CAGR of 7.68%|
|Forecast Period||2022 to 2030|
|Segmentation||Equipment type, healthcare facility type, services, lenders|
Siemens Financial Services, Inc.; General Electric Company; Commerce Bankshares, Inc.; Thermo Fisher Scientific, Inc.; Siena Healthcare Finance; CIT Group, Inc.; Stryker; Gemino Healthcare Finance; Oxford Finance LLC; TCF Capital Solutions
Equipment Type Insights
The decontamination equipment segment dominated the U.S. healthcare finance solutions market with a 36.0% revenue share in 2021 as there is a high requirement for the equipment and they are costly and need huge capital investment. The COVID-19 pandemic has boosted the diagnostic area for the detection and testing of the virus which increased the demand for diagnostic kits and other diagnostic equipment.
Based on equipment, the market is segmented into diagnostic/imaging equipment, specialty beds, surgical instruments, decontamination equipment, and IT equipment. The specialty beds segment is anticipated to grow at the fastest CAGR of 9.2% over the forecast period. This is due to the increase in demand for advanced beds in the healthcare facilities and the development of healthcare infrastructure is expected to fuel this industry’s growth over the forecast period.
Healthcare Facility Type Insights
The hospital & health systems were the largest segment in 2021 accounting for 25.0% of the market share owing to the increasing number of hospitals & health systems along with their increasing demand for medical care. Among frequently changing laws, expansion of healthcare access, and increasing patient admission, hospitals need financial support. Simultaneously, healthcare facilities are expected to offer the most appropriate care and the most desired outcomes to the patients. Hence, the segment is anticipated to witness significant growth over the forecast period.
The outpatient surgery center is another highly driven healthcare facility. Outpatient imaging centers are medical facilities providing imaging services. These imaging centers use advanced techniques and high-tech equipment to generate accurate images of organs, soft tissues, and blood vessels, among others. Outpatient imaging centers are expected to grow at the fastest rate of 9.1% over the forecast period due to increasing investments in R&D for developing innovative technology and the growing incidence of chronic diseases in the country.
The private player's segment contributed to the largest market share accounting for 51.1% of the share in 2021 This can be attributed to the fast approval and cash disbursement process by the private players. Based on lenders, the U.S. market is segmented into government and other federal agencies, private players, and others (such as patients).
The traditional methods of financing solutions involve endless paperwork and manual document collection are time-consuming processes that caused delays in the loan disbursement. In today’s world, with the help of AI-based platforms, the process is fast, paperless, and provides flexibility to design financial solutions and orchestration of responsibilities and communications.
Based on services, the equipment and technology finance segment accounted for the largest market share of 45.0% in 2021. This is due to the huge capital required for the setup along with the costly healthcare equipment which requires financial support. Financial solutions companies work closely with the business sector to fulfill the long-term financial requirements of the sector. Finance companies provide various benefits to their clients such as tax benefits, flexible payment terms, and no depreciation.
The finance companies provide various benefits to their clients such as tax benefits, flexible payment terms, no deprecation, etc. These companies use financial expertise and digitalization to provide financial solutions to serve the equipment & technology need of the healthcare sector which is likely to result in smooth functioning of the business operations.
The report also provides a crisscross analysis of lenders and service side segments for analyzing the share of lenders in each service type. In equipment and technology finance, the private players segment dominated the market with a share of 50.0% in 2021 and is likely to grow at a CAGR of 7.4% during the forecast period. The majority of the private finance companies offer equipment and technology finance to healthcare providers, which is a major factor driving the market growth.
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