Overview

Medical Equipment Maintenance Market Introduction

Medical equipment maintenance market is estimated to value over USD 47 billion by 2026 with a CAGR of 9.4% during period 2020-2027.

Currently, there are several medical types of equipment like electrocardiograph, syringe pump, X-ray unit, ventilator unit, centrifuge, autoclave etc. in the healthcare industry. These are used for diagnosis, treatment, analysis and also for educational purposes in professional medical courses. Since most of these are expensive and sophisticated equipment, their maintenance is a necessity. Maintenance of medical equipment ensures that it is operating accurately and is free from errors. Owing to technological advancements a variety of medical equipments are developed based on recent health conditions.

The increased demand for healthcare equipment and hence the need for their maintenance is one factor influencing its market growth. Along with this, its role in calibration, reducing errors and risk of contamination, etc. contribute to market demand and hence the growth.

According to the type of device, the market is segmented into imaging equipment, electro-medical equipment, endoscopic devices, surgical instruments, life support devices, dental equipment and other medical equipment. Imaging equipment is further divided into advanced imaging modalities like CT, MRI etc. and primary imaging modalities like digital imaging, ultrasound etc.

Further, the market is segmented by type of service. It is classified as preventive maintenance, corrective maintenance and operational maintenance; each of which deals with servicing of equipment to prevent error, to resolve the error and to ensure the precise working of equipment respectively. By service provider, the market is bifurcated into original equipment manufacturers (OEM) and independent service organizations (ISO), and in-House Maintenance. OEM is subdivided into single-vendor OEMs and multi-vendor OEMs.

The global market is divided into North America, Europe, US, Canada, Germany, France, UK, Italy, Spain, RoE, Asia, Japan, China, India and RoA.

Countries like US, India and China are supposed to be one of the major market regions due to increased health problems and population.

The major companies in this market are GE Healthcare (A General Electric Company), Siemens Healthineers (A Division of Siemens AG), Koninklijke Philips N.V., Canon Inc., FUJIFILM Holdings Corporation, Aramark Services, Inc., Althea (Previously Pantheon Healthcare Group, A Part of Permira Group), Drägerwerk AG & Co. KGaA, Agfa-Gevaert Group,B. Braun Melsungen AG, Carestream Health, Inc. (Subsidiary of Onex Corporation), Olympus Corporation, Bc Technical, Inc. (Part of Alpha Source Group), Hitachi Medical Corporation (Hitachi, Ltd.) and Karl Storz GmbH & Co. Kg.

Medical Equipment Maintenance Market Segmentation:

By Device Type

●    Imaging equipment

○    Advanced imaging modalities

■    CT

■    X-ray

■    Other advanced imaging modalities

○    Primary imaging modality

■    Digital X-ray

■    Ultrasound

■    Other primary medical imaging modalities

●    Electro-medical equipment

●    Endoscopic devices

●    Surgical instruments

●    Other medical equipment

●    Life support devices

●    Dental equipment

By Service Type

●    Preventive maintenance

●    Corrective maintenance

●    Operational maintenance

By Service Provider Type

●    Original equipment manufacturer (OEM)

●    Independent service organizations (ISO)

●    In-house maintenance

By region

●    North America

●    Europe

●    Asia Pacific

●    Latin America

●    Rest of the World

Competitive landscape:

• Tier 1 players- established companies in the market with a major market share 

• Tier 2 players

• Emerging players, which are growing rapidly

• New Entrants   

Futurewise Key Takeaways:

●    SWOT analysis

●    New advancements in maintenance of medical equipment

●    Innovation in service offerings and use of IoT

Objectives of the Study:

●    To provide with an exhaustive analysis on the medical equipment maintenance market by device, by service, by service provider and by region.

●    To cater comprehensive information on factors impacting market growth (drivers, restraints, opportunities, and industry-specific restraints)

●    To evaluate and forecast micro-markets and the overall market

●    To predict the market size, in key regions (along with countries)— North America, Europe, US, Asia, UK, India, China, etc.

●    To record evaluate and competitive landscape mapping- product launches, technological advancements, mergers and expansions

●    Profiling of companies to evaluate their market shares, strategies, financials and core competencies

Table of Contents

1 Introduction 

    1.1 Objectives of the Study 

    1.2 Market Definition 

    1.3 Market Scope 

           1.3.1 Markets Covered

           1.3.2 Years Considered for the Study

    1.4 Currency 

    1.5 Limitations 

    1.6 Stakeholders

2 Research Methodology

    2.1 Market Size Estimation 

    2.2 Market Breakdown and Data Triangulation 

    2.3 Assumptions for the Study

3 Executive Summary 

4 Premium Insights 

    4.1 Medical Equipment Management Market Overview 

    4.2 Global Market, By Device Type & Region (2018) 

    4.3 Imaging Equipment Maintenance Market, By Modality, 2018 vs 2026 (USD Billion) 

    4.4 Global Market, By Service Type, 2018 vs 2026 (USD Billion) 

    4.5 Global Market, By Service Provider, 2018 vs 2026 (USD Billion) 

    4.6 Global Market: Geographical Snapshot

5 Market Overview

    5.1 Introduction 

    5.2 Market Dynamics 

           5.2.1 Drivers

                    5.2.1.1 Growth in the Associated Equipment Markets

                    5.2.1.2 Rising Focus on Preventive Medical Equipment Maintenance

                    5.2.1.3 Adoption of Innovative Funding Mechanisms

                    5.2.1.4 Increasing Purchase of Refurbished Medical Systems

           5.2.2 Restraints

                    5.2.2.1 High Initial Cost and Significant Maintenance Expenditure

           5.2.3 Opportunities

                    5.2.3.1 Innovation in Service Offerings and Use of IoT

                    5.2.3.2 Emergence of ISOs

           5.2.4 Challenges

                    5.2.4.1 Survival of Players in A Highly Fragmented and Competitive Market

           5.2.5 Trends

                    5.2.5.1 Preference for Multi-Vendor Contracts

                    5.2.5.2 Equipment Maintenance Insurance (EMI) Tools for Imaging Centers

6 Regulatory Standards   

  6.1 Introduction 

           6.1.1 ISO Standards

                    6.1.1.1 ISO 9001:2015

                    6.1.1.2 ISO 13485:2016

7 Medical Equipment Maintenance Market, By Device Type 

    7.1 Introduction 

    7.2 Imaging Equipment 

           7.2.1 Advanced Imaging Modalities

                    7.2.1.1 CT

                    7.2.1.2 MRI

                    7.2.1.3 Other Advanced Medical Imaging Modalities

           7.2.2 Primary Imaging Modalities

                    7.2.2.1 Digital X-Ray

                    7.2.2.2 Ultrasound

                    7.2.2.3 Other Primary Medical Imaging Modalities

    7.3 Electromedical Equipment 

    7.4 Endoscopic Devices 

    7.5 Surgical Instruments 

    7.6 Other Medical Equipment 

           7.6.1 Life Support Devices

           7.6.2 Dental Equipment

8 Medical Equipment Maintenance Market, By Service Type 

    8.1 Introduction 

    8.2 Preventive Maintenance 

    8.3 Corrective Maintenance 

    8.4 Operational Maintenance

9 Medical Equipment Maintenance Market, By Service Provider

    9.1 Introduction 

    9.2 Original Equipment Manufacturers 

           9.2.1 Multi-Vendor OEMs

           9.2.2 Single-Vendor OEMs

    9.3 Independent Service Organizations 

    9.4 In-House Maintenance

10 Medical Equipment Maintenance Market, By End User 

     10.1 Introduction 

     10.2 Public Organizations 

     10.3 Private Organizations

11 Medical Equipment Maintenance Market, By Region 

     11.1 Introduction 

     11.2 North America 

             11.2.1 US

             11.2.2 Canada

     11.3 Europe 

             11.3.1 Germany

             11.3.2 France

             11.3.3 UK

             11.3.4 Italy

             11.3.5 Spain

             11.3.6 RoE

     11.4 Asia 

             11.4.1 Japan

             11.4.2 China

             11.4.3 India

             11.4.4 RoA

     11.5 RoW

12 Competitive Landscape 

     12.1 Overview 

     12.2 Market Ranking Analysis 

     12.3 Competitive Situation and Trends 

             12.3.1 Agreements, Partnerships, and Collaborations

             12.3.2 Service Launches

             12.3.3 Acquisitions

             12.3.4 Expansions

13 Company Profiles 

(Introduction, Products & Services, Strategy, & Analyst Insights, Developments, FutureWise Perspective)*

     13.1 GE Healthcare (A General Electric Company) 

     13.2 Siemens Healthineers (A Division of Siemens AG) 

     13.3 Koninklijke Philips N.V. 

     13.4 Canon Inc. 

     13.5 FUJIFILM Holdings Corporation 

     13.6 Aramark Services, Inc. 

     13.7 Althea (Previously Pantheon Healthcare Group, A Part of Permira Group) 

     13.8 Drägerwerk AG & Co. KGaA 

     13.9 Agfa-Gevaert Group 

     13.10 B. Braun Melsungen AG 

     13.11 Carestream Health, Inc. (Subsidiary of Onex Corporation) 

     13.12 Olympus Corporation 

     13.13 Bc Technical, Inc. (Part of Alpha Source Group) 

     13.14 Hitachi Medical Corporation (Hitachi, Ltd.) 

     13.15 Karl Storz GmbH & Co. Kg

Tables

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