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Global Medical Equipment Maintenance Market- Industry Trends and Forecast to 2028

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Global Medical Equipment Maintenance Market was valued at USD 34.23 Billion in 2021 and is expected to reach USD 62.57 Billion by the year 2028, at a CAGR of 9%.

To ensure better care of patients and to maintain the efficiency of medical equipment involved in diagnosing and treating illness and diseases, are the main factors that consolidate the importance of medical equipment importance. Moreover, recently there has been an unprecedented rise in the number of patients suffering from diabetes, cardiovascular diseases, blood pressure, lupus, and many other diseases which in some instances, require hospitalization or treating the cause with medical equipment available. Most types of medical equipment are sophisticated and require skilled and professional staff to maintain their condition. Health technologies are essential for the proper functioning of the health system. This is the main reason for the maintenance of medical equipment. Therefore, these factors are promoting the rapid exponential growth of the medical equipment maintenance market. Lack of proper maintenance of medical equipment can reduce the performance of medical equipment and can increase the expenditure costs on maintenance. Healthcare equipment is expensive and slight negligence can disrupt functioning which makes the maintenance process a necessity. Calibration of medical equipment’s is a vital task that eliminates the occurrence of an error in the device and thus helps the user to correctly monitor, diagnose, or treat the patient.  

The research goes into detail on the elements that drive market growth, including significant opportunities, growth drivers, as well as opportunities. Furthermore, it builds on previous data and the present business environment to forecast the industry's performance from 2020 to 2025. The study includes an extensive analysis of the workings of this business industry at regional and country levels in order to assess the industry size at a global level. Further, the study literature examines the dominating actors and assesses the techniques they use to maintain their position in the competitive arena. The present and predicted impact of the Covid-19 epidemic has also been considered, with a particular focus on income-generating opportunities and techniques to deal with the shifting situation.

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Key Industry Players in the Medical Equipment Maintenance Market:

·         Agenor Mantenimientos (Spain)

·         Agfa-Gevaert NV (Belgium)

·         Althea Group (Italy)

·         B. Braun Melsungen AG (Germany)

·         BCAS Biomedical Services Ltd. (UK)

·         Canon Medical Systems Corporation (Japan)

·         Dragerwerk AG Co. KGaA (Germany)

·         GE Healthcare (US)

·         Hitachi Medical Corporation (Japan)

·         Koninklijke Philips NV (Netherlands)

·         Medtronic PLC (Ireland)

·         Olympus Corporation (Japan)

·         Siemens Healthineers (Germany)

·         FUJIFILM Holdings Corporation (Japan)

·         Aramark Services Inc. (the US)  and others major key players.

The medical equipment maintenance and services sector was initially dominated by OEMs. However, OEMs typically charge more than third-party vendors, and often take longer for maintenance, resulting in higher associated costs as well as downtime. This situation, especially given the backdrop of continuing austerity measures and the need for cost-curtailment in healthcare systems, has led to the emergence of ISOs dedicated to solely providing maintenance services.

Segmentation Analysis Includes,

By Type:

·         Preventive Maintenance

·         Operational Maintenance

·         Corrective Maintenance

By Service Provider:

·         Original Equipment Manufacturers {OEMs}

·         Independent Service Organizations

·         In House Maintenance

By Device Type:

·         Diagnostic Imaging Equipment

·         Surgical Instrument

·         Endoscopic Devices

·         Life Support Device

·         Monitors

·         Others

By End-User:

·         Hospitals

·         Diagnostic Imaging Centers

·         Dialysis Centers

·         Ambulatory Surgical Center

·         Others

By Region:

·         North America (U.S., Canada, Mexico)

·         Europe (Germany, U.K., France, Italy, Russia, Spain, Rest of Europe)

·         Asia-Pacific (China, India, Japan, Singapore, Australia, New Zealand, Rest of APAC)

·         Middle East Africa (Turkey, Saudi Arabia, Iran, UAE, Africa, Rest of MEA)

·         South America (Brazil, Argentina, Rest of SA)

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Key questions answered by the report: -

·         Which segment accounted for the largest medical equipment maintenance market share?

·         How big is the medical equipment maintenance market?

·         What is the medical equipment maintenance market growth?

·         Who are the key players in the medical equipment maintenance market?

·         What are the factors driving the medical equipment maintenance market?

Medical equipment maintenance market will continue exhibiting a positive growth trajectory between 2022 and 2028. While the unprecedented COVID-19 pandemic might result in a temporary period of lull, consistently rising demand for medical and healthcare services will give tailwinds to growth even as market players struggle to cope with limitations. Fact MR’s report on the market offers a comprehensive overview, covering growth drivers as well as restraints. It offers insights into various segments within the market and examines growth exhibited across key regions.

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Maintenance of medical equipment is a crucial process in order to preserve the device and ensure its operational efficiency and accuracy. Healthcare equipment are very expensive and sophisticated which makes the process of maintenance a necessity. Apart from this, it has a crucial role to play in calibration of the device and reducing risk of contamination.

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