The global healthcare finance solutions market is expected to reach USD 178.3 billion by 2026, accelerating at a CAGR of 7.6% over the forecast period, according to a new report by Grand View Research, Inc. Hospitals, health systems, and physician practices are experiencing financial challenges due to the decreasing cost of care and need of capital investment.
Competitive pricing & improved quality of healthcare services and change in reimbursement plans in the U.S. are expected to drive the healthcare finance solutions market over forecast period. In addition, need of technology advancements, regulatory changes and patient consumerism in healthcare systems are fueling the market growth.
Growing patient demands, expansion of healthcare access, and frequently changing laws are driving the need of financial support to the healthcare systems. Also, the requirement of investment in advanced technology, services, and healthcare infrastructure is expected to propel market growth during the forecast period.
Healthcare equipment leasing, health IT initiatives, large healthcare transactions such as mergers and acquisitions are some factors expected to propel market growth during the forecast period. In addition, financial support for the ongoing medical research and development is also anticipated to drive market growth.
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Report Highlights: Healthcare Finance Solutions Market
· Decontamination equipment was the largest segment accounting for 34.4% of the market share in 2018. This is attributed to the fact that these instruments are costly and require huge amount of capital
· On the basis of healthcare facility, the hospitals & health systems dominated the market in 2018 with a share of 23.6% due to the increasing prevalence of chronic diseases and the need to treat them along with handling patient data
· North America dominated the market in 2018 with 38.2% share due to high demand for advanced healthcare systems and electronic data management initiatives
· Some of the players operating in the healthcare finance solutions market are 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, and CIT Group, Inc.