Global Equipment as a Service in Healthcare Market Size, Trends & Analysis - Forecasts to 2026 By Device Type (Imaging Equipment [CT, MRI, Digital X-Ray, Ultrasound, Others], Electro-medical Equipment, Endoscopic Devices, Surgical Instruments, Other Medical Equipment), By End Users (Hospitals, Diagnosis Centers, Research Institutes, Testing Laboratories), By Region (North America, Europe, Asia Pacific and Rest of the World); Vendor Landscape, End User Landscape and Company Market Share Analysis & -Competitor Analysis
Equipment as a Service In Healthcare Market Insights
The global equipment as a service in healthcare market is estimated to witness a high CAGR during the forecast period (2019-2026). Equipment-as-a-Service is an act of renting machinery to manufacturers and periodically collecting payments on a usage basis. This model of business serves as a win-win situation to both manufacturers and customers since manufacturer can sell more equipment’s and make customers happier with variable installments. Adoption of equipment as a service will offer many advantages to manufacturers such as diversifying business model, increase in aftermarket service, increase customer retention and life time value, and developing strong customer relationships among others. Growing demand for medical equipment from the healthcare end users is driving the market growth. High cost of advanced medical equipment’s such as CT, MRI, ultrasound, and digital X-ray equipment’s is driving the market for equipment as a service in healthcare market.
Equipment as a Service In Healthcare Market: By Device Type
On the basis of device type, the global equipment as a service in healthcare market is segmented into imaging equipment, electro-medical equipment, endoscopic devices, and surgical instruments among others. The imaging equipment is expected to hold the largest market share during the forecast period. Imaging equipment is further segmented into CT scanning equipment, MRI scanning equipment, digital X-ray equipment and ultrasound equipment among others. Imaging equipment’s are used for performing various body tests such as body scanning, and brain scanning among others. Imaging equipment is also used to see how well body is responding to a treatment for an illness or a fracture. These are some of the major factors expected to drive the market for imaging equipment.
Equipment as a Service In Healthcare Market: By End User
On the basis of end user, the market is segmented into hospitals, diagnosis centers, research institutes, and testing laboratories among others. Hospitals segment is expected to hold a significant market share during the forecast period. Growing number of hospitals along with favorable government policies is driving the market for hospitals segment. According to the data published by American Hospital Association in 2020, there are more than 6000 hospitals in the United States. The high cost of medical equipment is leading to adopt equipment as a service among hospitals and other healthcare related clinics.
Equipment as a Service In Healthcare Market: By Region
North America region is expected to hold the largest market share in the equipment as a service in healthcare market during the forecast period. The growing aging population, rising incidence of lifestyle-related diseases, and access to quality healthcare are some of the major factors driving the market growth during the forecast period. Presence well-established healthcare infrastructure, high adoption of advanced technology, and the presence of prominent players are expected to propel the market growth in the region. Asia Pacific region is expected to grow at a significant CAGR during the forecast period. Presence of developing nations such as China, India, Japan, and Singapore among others is driving the market growth. Growing healthcare expenditure in the region is also driving the market growth in Asia Pacific.
Equipment as a Service In Healthcare Market: End Use Landscape
The end-user landscape entails a list of current and prospective consumers prevailing across the regions. This section briefs you about company addresses, contact details, products, and regional presence of companies who are purchasing or are likely to purchase. The key end-users of the markets are Cleveland Clinic, Singapore General Hospital, Johns Hopkins Hospital and Mayo Clinic among others.
Equipment as a Service In Healthcare Market: Vendor Landscape
The report contains a chapter dedicated to vendors operating in the Equipment as a Service In Healthcare market, covering raw material manufactures, equipment developers, manufacturers, and distributors. The report provides these insights on a regional level. This section of the report entails contact details, experience, products manufactured/supplied, and geographical presence of companies.
Check the Press Release on Global Equipment as a Service in Healthcare Market Report
Equipment-as-a-Service in healthcare Market: By Device Type
Equipment-as-a-Service in healthcare Market: By End Users
Equipment-as-a-Service in healthcare Market: By Region
The desk research involved a robust background study which meant referring to paid and unpaid databases to understand the market dynamics; mapping contracts from press releases; identifying the key players in the market, studying their product portfolio, competition level, annual reports/SEC filings & investor presentations; and learning the demand and supply side analysis for the Equipment as a Service in Healthcare Market.
The primary research activity included telephonic conversations with more than 50 tier 1 industry consultants, distributors, and end-use product manufacturers.
Finally, based on the above thorough research process, an in-depth analysis was carried out considering the following aspects: market attractiveness, current & future market trends, market share analysis, SWOT analysis of the companies and customer analytics.
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