Global Medical Equipment Maintenance Market is Estimated to Value Over USD 47 Billion by the End of 2026

  • 14 Aug 2019

Global Medical Equipment Maintenance Market is estimated to value over USD 47 billion by 2026 end with a CAGR of 9.4% during the forecast period 2019-2026.

 Medical equipment maintenance deals with the servicing of this equipment to ensure that they are operating as per the requirements and are free from errors. This is one of the factors that positively impact the growth of the market. Additionally, rise in the purchase of refurbished medical system is also contributing the market growth. Most of the medical equipment are high-priced and hence any ignorance in their maintenance results in huge monetary losses which increases the demand for medical equipment maintenance thus assisting in market growth. Due to the advancements in technology, operating such equipment is difficult; thus timely maintenance of equipment is the key.

Imaging equipment device type is anticipated to be the major sector contributing to the market growth and positively influencing CAGR. As imaging equipment are vital and are in demand worldwide irrespective of region, cost and complexity to operate.

Based on service type, the market is further divided into preventive maintenance, corrective maintenance and operational maintenance; of which, preventive maintenance is expected to be dominating sector in comparison with others. The need for reducing errors and hence further loss leads to increased demand for preventive maintenance which is one of the major growth contributors in CAGR.     

OEMs are anticipated to be dominating segment in the market owing to high service standards and cost-effective solutions and expert technicians. 

North America is poised to dominate the market growth followed by the Asia Pacific region. US is expected to significantly contribute to the global market growth owing to soaring population and health problems in this region. Increase in expenditure and technological developments in the healthcare sector will boost the market growth in Asia Pacific region.

Key players in this medical equipment maintenance 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.

Global 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

●    Latim 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 the 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 the 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, Asia Pacific, Latin America and the rest of the world

●    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

 

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