Healthcare Finance Solutions Market Size is projected to reach USD 249.65 Billion by 2030, growing at a CAGR of 8.45%: Straits Research

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The global healthcare finance solutions market size was valued at USD 120.3 billion in 2021 and is projected to reach USD 249.65 billion by 2030 at a CAGR of 8.45% from 2022 to 2030. North America dominated the market Due to the high demand for advanced healthcare systems and electronic data management initiatives, this is the case.

New York, United States, Sept. 07, 2022 (GLOBE NEWSWIRE) -- Healthcare finance solutions are a collection of financial capital solutions that enable parties to mobilize cash to address diverse healthcare needs, such as funding for medical equipment, infrastructure upgrades, and treatment coverage. These solutions enable the most efficient collection and financing of healthcare-related services by facilitating a more efficient capital flow.                               


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Constant Up-Gradation Will Drive the Market

The rising demand for constant upgrades and modifications in various healthcare processes with the aim of enhancing the performance of various healthcare facilities will act as a key factor in accelerating the growth rate of the healthcare finance solutions market. The increasing rate of adoption of high-tech equipment and technology will increase the demand for healthcare finance solutions, thereby accelerating the market's growth rate. The presence of favorable government initiatives for the development of the healthcare infrastructure also contributes significantly to the market's expansion. Moreover, rising healthcare expenditures and a rise in digital adoption in the healthcare sector are the primary factors that will propel the market's expansion. Rapid urbanization, a shift in lifestyle, and a rise in disposable incomes in developing and developed nations will impact the market growth rate for healthcare finance solutions. The increase in the geriatric population, the rise in the prevalence of chronic disorders, and the rise in the demand for the early diagnosis will stimulate the growth rate of the healthcare finance solutions market.

Increasing Value-Based Care Is Driving the Market

The healthcare system is transitioning from volume-based to value-based care in an effort to improve patient care and patient engagement. Volume-based care is a traditional healthcare service known as (Fee for Service) that does not guarantee a positive patient outcome. Providers of healthcare are compensated for each service rendered, regardless of the success or necessity of the service. The framework for value-based care delivery aims to improve healthcare outcomes at a lower cost. Under this model, payers do not pay healthcare providers individually but instead can appoint a primary provider to be responsible for budget distribution to secondary healthcare providers.

Technological Advancements Will Drive the Market in The Future

The adoption of technologically advanced products to improve functions and processes is on the rise in the healthcare industry, which is undergoing change. It is possible to observe advancements in healthcare equipment, software, infrastructure, and therapy, among other fields. Safe and effective therapy or treatment is a top priority for all healthcare professionals, and technological advancements have made it easier to achieve this objective.

Enhancements in technological access, internet, and video & remote monitoring capabilities can aid healthcare providers in delivering more cost-effective, patient-centered care. This strategy is likely to reduce patients' overall expenditures on healthcare. The COVID-19 pandemic has had a positive effect on reimbursement policy; consequently, there has been an increase in the adoption of home-based care and telehealth.


Report Scope

Report Metric

Details

Market Size

USD 249.65 Billion by 2030

CAGR

8.45% (2022-2030)

Historical Data

2019-2020

Base Year

2021

Forecast Period

2022-2030

Forecast Units

Value (USD Billion )

Report Coverage

Revenue Forecast, Competitive Landscape, Growth Factors, and Trends

Segments Covered

Equipment, Facility, Services, Regions

Geographies Covered

North America, Europe, Asia-Pacific, LAME, and the Rest of the World

Key Companies Profiled/Vendors

Koninklijke Philips N.V., General Electric Company, Commerce Bankshares, Inc., Siemens Financial Services, Inc., Thermo Fisher Scientific, Inc., Stryker, Gemino Healthcare Finance, Oxford Finance LLC, TCF Capital Solutions, CIT Group, Inc., etc.

Key Market Opportunities

Technological Advancements Will Drive The Market In The Future

Key Market Drivers

Constant Up-Gradation Will Drive The Market
Increasing Value-Based Care Is Driving The Market

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Regional Analysis

Geographically, the market for healthcare finance solutions is segmented into North America, Europe, Asia Pacific, Latin America, and the Middle East and Africa. With a market share of 38.2 percent in 2018, North America dominated the market. Due to the high demand for advanced healthcare systems and electronic data management initiatives, this is the case. As a result of the presence of a large number of key players, North America is also expected to experience lucrative growth over the forecast period. Such companies include Siemens Financial Services, Inc. and Commerce Bancshares, Inc.

The United States is one of the leading countries in the production and development of technologically advanced products for the healthcare industry, resulting in an increase in the total cost of healthcare for patients. This increases the financial burden on patients in a direct manner. 40 to 50 percent of the annual cost increase is attributable to new medical technology.

The United States spends significantly more than other wealthy nations on healthcare administration, with administrative costs comprising approximately 30 percent of total healthcare expenditures. The increase in administrative expenses of healthcare providers is a result of the rising cost of healthcare and the introduction of new and costly technology.

Over the forecast period, the Asia-Pacific region is anticipated to experience the highest growth. The growth of the healthcare finance solution market in the region is also anticipated to be driven by an increase in healthcare expenditures and the presence of a large patient base. The investment of international healthcare finance solution providers, such as the Asian Development Bank, is expected to propel the market's expansion over the forecast period.


Key Highlights

  • The global healthcare finance solutions market size was valued at USD 120.3 billion in 2021 and is projected to reach USD 249.65 billion by 2030 at a CAGR of 8.45% 2022 to 2030.

  • The market is driven by constant up-gradation and value-based care.

  • This market can be segmented on the basis of equipment, facilities, services, regions, and competitors.

  • By 2030, North America is anticipated to have the largest market share, with the Asia Pacific emerging as the fastest-growing market.


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Competitors Analysis

  • Koninklijke Philips N.V.

  • General Electric Company

  • Commerce Bankshares Inc.

  • Siemens Financial Services Inc.

  • Thermo Fisher Scientific Inc.

  • Stryker

  • Gemino Healthcare Finance

  • Oxford Finance LLC

  • TCF Capital Solutions

  • CIT Group Inc


Market Segmentation

By Equipment Outlook

  • Diagnostic/Imaging Equipment

  • Specialty Beds

  • Surgical Instruments

  • Decontamination Equipment

  • IT Equipment

By Facility Outlook:

  • Hospitals & Health Systems

  • Outpatient Imaging Centers

  • Outpatient Surgery Centers

  • Physician Practices & Outpatient Clinics

  • Diagnostic Laboratories

  • Urgent Care Clinics

  • Skilled Nursing Facilities

  • Pharmacies

  • Other Healthcare Providers

By Services Outlook:

  • Equipment and Technology Finance

  • Working Capital Finance

  • Project Finance Solutions

  • Corporate Lending

By Regional Outlook:

  • North America

  • Europe

  • Asia Pacific

  • Latin America

  • MEA


TABLE OF CONTENT

  1. Introduction

    1. Market Definition

    2. Market Scope

  2. Research Methodology

    1. Primary Research

    2. Research Methodology

    3. Assumptions & Exclusions

    4. Secondary Data Sources

  3. Market Overview

    1. Report Segmentation & Scope

    2. Value Chain Analysis: Healthcare Finance Solutions Market

    3. Key Market Trends

      1. Drivers

      2. Restraints

      3. Opportunities

    4. Porter’s Five Forces Analysis

      1. Bargaining Power of Suppliers

      2. Bargaining Power of Buyers

      3. Threat of Substitution

      4. Threat of New Entrants

      5. Competitive Rivalry

    5. Market Share Analysis

  4. Equipment Overview

    1. Introduction

      1. Market Size & Forecast

    2. Specialty Beds

      1. Market Size & Forecast

    3. Surgical Instruments

      1. Market Size & Forecast

  5. Facility Overview

    1. Introduction

      1. Market Size & Forecast

    2. Hospitals & Health Systems

      1. Market Size & Forecast

    3. Pharmacies

      1. Market Size & Forecast

  6. Regional Overview

    1. Introduction

      1. Market Size & Forecast

    2. America

      1. North America

      2. U.S.

        1. By Equipment

        2. By Facility

      3. Canada

        1. By Equipment

        2. By Facility

      4. Mexico

        1. By Equipment

        2. By Facility

      5. Latin America

        1. By Equipment

        2. By Facility

    3. Europe

      1. Market Size & Forecast

      2. Germany

        1. By Equipment

        2. By Facility

      3. France

        1. By Equipment

        2. By Facility

      4. U.K.

        1. By Equipment

        2. By Facility

      5. Italy

        1. By Equipment

        2. By Facility

      6. Spain

        1. By Equipment

        2. By Facility

      7. Rest of Europe

        1. By Equipment

        2. By Facility

    4. Asia Pacific

      1. Market Size & Forecast

      2. Japan

        1. By Equipment

        2. By Facility

      3. China

        1. By Equipment

        2. By Facility

      4. Australia

        1. By Equipment

        2. By Facility

      5. India

        1. By Equipment

        2. By Facility

      6. South Korea

        1. By Equipment

        2. By Facility

      7. Rest of Asia-Pacific

        1. By Equipment

        2. By Facility

    5. Middle East & Africa

      1. Market Size & Forecast

      2. Saudi Arabia

        1. By Equipment

        2. By Facility

      3. South Africa

        1. By Equipment

        2. By Facility

      4. Kuwait

        1. By Equipment

        2. By Facility

      5. Rest of Middle East & Africa

        1. By Equipment

        2. By Facility

  7. Company Profile

    1. Koninklijke Philips N.V

      1. Company Overview

      2. Financial Performance

      3. Recent Developments

      4. Product Portfolio

    2. General Electric Company

      1. Company Overview

      2. Financial Performance

      3. Recent Developments

      4. Product Portfolio

    3. Commerce Bankshares Inc

      1. Company Overview

      2. Financial Performance

      3. Recent Developments

      4. Product Portfolio

  8. Conclusion & Recommendation

  9. Acronyms & Abbreviations


Table of Content and Figure @ https://straitsresearch.com/report/healthcare-finance-solutions-market/toc


Recent Developments

  • Humana (US) and IBM (US) worked together in 2021 to deploy IBM Watson Assistant for Health Benefits, an AI-enabled virtual agent built on the IBM Watson Health Cloud. This agent contributes to a better member experience by enhancing the clarity and transparency of benefits and other related matters for Humana Employer Group members.

  • Allied Digestive Health (ADH) chose athenahealth's (US) cloud-based healthcare payments and patient engagement solutions in 2021 to drive patient relations and revenue cycle excellence, thereby supporting the organization's future growth.


News Media

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