The healthcare equipment leasing market is poised to grow by $17.14 billion between 2020 and 2024, progressing at a CAGR of about 7% during the forecast period, according to Technavio.

Although the COVID-19 pandemic continues to transform the growth of various industries, the immediate impact of the outbreak is varied, according to Technavio. While a few industries will register a drop in demand, numerous others will continue to remain unscathed and show promising growth opportunities.

The uberization of medical equipment finance is a major trend driving the growth of the market and the inflated cost of healthcare equipment is one of the major factors driving the market.

Technavio estimated the year-over-year growth for 2020 in the industry at 6.7% and the incremental growth of the market at $17.14 billion. The North America region will contribute 37% of the market share.

The market is fragmented, and the degree of fragmentation will accelerate during the forecast period, according to Technavio, which identified Agfa-Gevaert, DLL, Hill-Rom Holdings, Koninklijke Philips, Oak Leasing, Siemens, Stryker, TIAA, The Blackstone Group and Tokyo Century as some of the major market participants. The inflated cost of healthcare equipment will offer immense growth opportunities. To make most of the opportunities, market vendors should focus more on the growth prospects in the fast-growing segments while maintaining their positions in the slow-growing segments.