Medical Devices Loner & Consignment Market Size, Share, By Device Type, Type, Service Type, Therapeutic Area, End-User, and By Region - Trends, Analysis and Forecast till 2034

• In 2024, the medical devices loner & consignment market size held substantial valuation.
• The marker is expected to reach significant valuation by 2034.
• The market is projected to grow at a significant CAGR during the forecast period.

Medical devices loner & consignment is a business model through which medical devices and equipment are available to healthcare facilities temporarily or in consignment mode. The Loner system involves loaning medical device manufacturers or specialized companies' equipment to hospitals, clinics, or other health care providers for some time. This mainly occurs when it will enable them to try new technologies or meet some short-term needs that would be expensive if purchased. On the contrary, consignment involves stocking healthcare facilities with suppliers' inventory without immediate payment, whereby a facility pays for the items only as they are used. Surging technological advancements to augment market growth during the forecast period.

Key Takeaways:

• North America is projected to be the dominating region in the market. The growth is attributed to the increasing healthcare spending across the region.
• Asia Pacific is predicted to witness rapid growth during the forecast period owing to the increasing healthcare investments.

Key Drivers of Target Market:

Surging Technological Advancements to Augment Market Expansion

• Rapidly changing medical technologies fuel the need for flexible access to equipment. Healthcare Providers want to keep up-to-date without being saddled by substantial capital investments. Rental and consignment models facilitate testing much more quickly and uptake of new technologies by facilities. Therefore, this driver supports continuous improvement in patient care through access to the latest state-of-the-art devices.

Increasing Cost Pressures to Fuel Market Growth

• The pressure to reduce costs and enhance efficiency has increased on health systems worldwide. Loner and consignment models help avoid significant outlays for equipment purchases at the front end and help control expenses. These agreements thus help better align financial resources and cash flow management. Cost savings can be redirected toward other critical patient care or facility improvements.

Restraints:

Inventory Management and Tracking Issues May Hinder Market Expansion

• Inventory management for dispersed healthcare facilities is very complex and resource-intensive. This also does not eliminate the risk of loss, damage, or misplacing equipment that could result in partial or total losses. Such busy healthcare environments have inaccurate tracking of usage and billing for consigned items. Therefore, installing efficient management systems is quite costly and time-consuming.

Opportunities:

Emerging Markets Expansion to Provide Better Future Opportunities

• The growing healthcare infrastructure in developing nations is another opportunity. Once these markets are creating, there is increasing demand for advanced medical equipment. However, budget constraints often prevent them from making outright purchases. Loner and consignment models can fill this gap by connecting healthcare providers in emerging markets with state-of-the-art technology without requiring significant upfront investments. This incumbent strategy can help foster the adoption of state-of-the-art medical devices and spur healthcare outcomes in such regions.

• Considering the growth of telemedicine, the loner and consignment models can be applied in remote healthcare delivery. That would mean renting out portable diagnostic devices, monitoring equipment, and, in some cases, even therapeutic devices for use at home under remote supervision. It would increase the reach, enhance patient monitoring, and improve treatment adherence to telemedicine services. This also creates newer revenue streams for device manufacturers and innovative service models in healthcare delivery.

The medical devices loner & consignment market is segmented into device type, type, service type, therapeutic area, end-user, and region.

Device Type:

Based on device type, the market is segmented into diagnostic imaging, therapeutics devices, monitoring devices, and other. The growing importance of these devices to diagnose different medical conditions is propelling the growth of the diagnostic imaging segment in the market.

 Type:

By type, the market is bifurcated into loner and consignment. The loner segment is expected to hold the largest medical devices loner & consignment market share during the forecast period. The segment’s growth is attributed to its various advantages.

Service Type:

On the basis of service type, the market is categorized into 24-hour emergency services, planned procedures, and research and development. The 24-hour emergency services is expected to lead the market due to the increased need for these devices in immediate and life-saving interventions.

Therapeutic Area:

Under therapeutic area, the market is divided into cardiology, oncology, orthopedics, neurology, and others. The market is being dominated by the cardiology segment owing to growing use in diagnosing, monitoring, and treating several cardiovascular diseases.

End-User:

The market is segmented into hospitals and clinics, ambulatory surgical centers (ASCs), and others, under end-user segment. The increasing demand for these medical devices in hospitals and clinics boost segment’s growth during the forecast period.

Regional Insights:

Geographically, the medical devices loner & consignment market is studied across North America, Asia Pacific, Europe, Latin America, and the Middle East & Africa.

• North America: North America is a mature market with high healthcare spending and well-developed medical infrastructure. Major industry players, intense research and development activities, and a large aging population will fuel this region's demand for high-end medical devices. Regulatory bodies, such as the FDA maintain strict quality standards that infuse reliability and a line of trust across medical devices used in hospitals, clinics, and research institutions.
• Asia Pacific: The Asia Pacific region is expected to grow rapidly in the medical devices market with increasing healthcare investments and the growing middle class. Even though there are modern hospitals with advanced technologies in the cities, there still needs to be economical and viable medical devices in rural areas. From this region, most governments are emphasizing the development of healthcare infrastructure; therefore, diagnostic and therapeutic medical devices are in surging demand, making this market dynamic and growing.

Medical Devices Loner & Consignment Market Report Scope:

Attribute	Details
Base year for estimation	2023
Forecast period	2024 – 2034
Market representation	Revenue in USD Million & CAGR from 2024 to 2034
Market Segmentation	By Device Type - [Diagnostic Imaging (X-ray machines, CT scanners, MRI machines, and Others), Therapeutic Devices (Surgical Instruments, Implants, Pacemakers, and Others), Monitoring Devices (Patient Monitors, Infusion Pumps, Ventilators, and Others), and Others (Instruments, Consumables, and others)] By Type – Loner and Consignment. By Service Type - Emergency, Planned Procedures, and Research and Development. By Therapeutic Area - Cardiology, Oncology, Orthopedics, Neurology, and Others. By End-User - Hospitals & Clinics, Ambulatory Surgical Centers (ASCs), and Others.
Regional scope	North America - U.S. and Canada Europe – U.K., Germany, Spain, France, Italy, Russia, and Rest of Europe Asia Pacific - Japan, India, China, South Korea, Australia, and Rest of Asia-Pacific Latin America - Brazil, Mexico, Argentina, and Rest of Latin America Middle East & Africa - South Africa, Saudi Arabia, UAE, and Rest of the Middle East & Africa
Report coverage	Revenue forecast, company share, competitive landscape, growth factors, and trends

Segmentation:

By Device Type:

• Diagnostic Imaging

• X-ray machines
• CT scanners
• MRI machines
• Others

• Therapeutic Devices

• Surgical Instruments
• Implants
• Pacemakers
• Others

• Monitoring Devices

• Patient Monitors
• Infusion Pumps
• Ventilators
• Others

• Others

• Instruments
• Consumables

By Type:

• Loner
• Consignment

By Service Type:

• 24-hour Emergency Services
• Planned Procedures
• Research and Development

By Therapeutic Area:

• Cardiology
• Oncology
• Orthopedics
• Neurology
• Others

By End-User:

• Hospitals & Clinics
• Ambulatory Surgical Centers (ASCs)
• Others

By Region:

North America

• U.S.
• Canada

Europe

• Germany
• U.K.
• France
• Russia
• Italy
• Rest of Europe

Asia Pacific

• China
• India
• Japan
• South Korea
• Rest of Asia Pacific

Latin America

• Brazil
• Mexico
• Rest of Latin America

Middle East & Africa

• GCC
• Israel
• South Africa
• Rest of Middle East & Africa

GE Healthcare, Philips Healthcare, Siemens Healthineers, and others are some of the leading players in the medical devices loner & consignment market. These major players in the market are adopting strategies, such as partnerships, collaborations, and new product launches to enhance their product portfolio.

List of Key Players in the Market:

• GE Healthcare*
• Siemens Healthineers
• Philips Healthcare
• Medtronic
• Johnson & Johnson
• Stryker Corporation
• Boston Scientific
• Becton, Dickinson and Company (BD)
• Zimmer Biomet
• Smith & Nephew
• Canon Medical Systems
• Fujifilm Holdings Corporation
• Terumo Corporation
• Cook Medical
• Abbott Laboratories

                     To Access More Companies, Download Free Sample PDF

• In October 2023, AA Medical recently announced transformative partnerships with Tekyard, Zantek Medical, and MED-SELL.COM. AA Medical ("AA Medical" or "the Company"), a provider of long-term solutions to the new and resale medical device markets, has announced three new agreements with top organizations in the healthcare asset management, medical device reprocessing, and disposition industries. The Company's strategic partnerships with Tekyard, a leading healthcare asset management company that provides disposition services to medical facilities, and Zantek Medical ("Zantek"), a well-known certified biomed medical device reprocessing company, reinforce AA Medical's vision to be a market-leader in the surgical device market.
• In June 2022, Xenco Medical expanded its ambulatory surgery center device portfolio with FDA clearance and launched the Multilevel CerviKit. Xenco Medical has expanded its ASC surgical device portfolio with the FDA clearance and launch of its Multilevel CerviKit™. This includes a comprehensive suite of implants and single-use instruments for 2, 3, and 4-level anterior cervical spine procedures.

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Company Name	Siemens
Headquarters	Munich, Germany
CEO	Roland Busch
Employee Count	320,000 Employees