The global medical equipment maintenance market size was valued at USD 45.2 billion in the year 2021 and is expected to surpass USD 74.2 billion by 2026 expanding at a CAGR of 10.4% during the forecast period, 2021–2028. Increase in focus on early diagnosis, presence of a large number of OEMs, growth in the number of diagnostic imaging procedures, and strategic partnerships and collaborations between service providers and end-users are driving the medical equipment maintenance market.
Medical equipment is used to carefully check the health of patients, from diagnostics to operations and treatments. As a result, their maintenance is essential improving accuracy, longevity, and precision of medical devices. Maintenance of medical equipment guarantees that the gadgets are error-free and operate correctly. It entails determining the life expectancy of equipment ranging from simple instruments such as sphygmomanometers to more complicated systems akin to MRI machines. It deals with actions that are scheduled on a regular basis, repair of out-of-service equipment, optimization, and the determining of maintenance intervals based on relevant data. Increase in the need for refurbished medical equipment and rising occurrence of life-threatening disorders are driving the need for medical instrument maintenance.
Market Trends, Drivers, Restraints, and Opportunities:
- Increasing use of preventive maintenance in healthcare settings to extend the life of medical devices is expected to boost the market.
- Rapid technical developments in medical equipment and growing demand for continuous learning and maintenance are propelling the market.
- Rising need for continuous monitoring is anticipated to drive the market in the coming years.
- Rising innovations in the service sector, such as offering services through IoT devices and remote guidance are expected to increase the demand for medical equipment maintenance.
- High cost associated of medical equipment maintenance and lack of skilled professionals are expected to hinder the market during the forecast period.
- Increasing focus on the healthcare industry across the globe is expected to offer lucrative opportunities for key players in the coming years.
Scope of the Report
The report on the global medical equipment maintenance market includes an assessment of the market, trends, segments, and regional markets. Overview and dynamics have also been included in the report.
Attributes
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Details
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Report Title
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Medical Equipment Maintenance Market – Global Industry Analysis, Growth, Share, Size, Trends, and Forecast
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Base Year
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2020
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Historic Data
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2018-2019
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Forecast Period
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2021-2028
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Segmentation
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Device Type (Diagnostic Imaging Equipment, Electrosurgical Equipment, Endoscopic Devices, Surgical Equipment, Medical Lasers, Ophthalmology Equipment, Patient Monitoring & Life Support Devices, Dental Equipment, Laboratory Equipment, Durable Medical Equipment, and Radiotherapy Devices), Service Type (Preventive Maintenance, Corrective Maintenance, and Operational Maintenance), Service Provider (Multi-Vendor OEMs, Single-vendor OEMs, Independent Service Organization, and In-house Maintenance), End-users (Hospitals, Diagnostic Imaging Centers, Dialysis Centers, Ambulatory Surgical Centers, Dental Clinics & Specialty Clinics, and Others)
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Regional Scope
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Asia Pacific, North America, Latin America, Europe, and Middle East & Africa
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Report Coverage
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Company Share, Market Analysis and Size, Competitive Landscape, Growth Factors, and Trends, and Revenue Forecast
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Key Players covered in the Report
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GE Healthcare, Siemens Medical Solutions USA, Inc., Koninklijke Philips N.V.,Medtronic, FUJIFILM Holdings America Corporation, CANON MEDICAL SYSTEMS CORPORATION, Carestream Health., Drägerwerk AG & Co. KGaA, Hitachi, Ltd., Althea Group., Olympus Medical Systems India Private Limited, and B. Braun Melsungen AG
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Global Medical Equipment Maintenance Market Segment Insights
Based on the device type, the market is divided into diagnostic imaging equipment, electrosurgical equipment, endoscopic devices, surgical equipment, medical lasers, ophthalmology equipment, patient monitoring & life support devices, dental equipment, laboratory equipment, durable medical equipment, and radiotherapy devices. The diagnostic imaging equipment segment is expected to account for a key share of the market during the forecast period due to the rising use of diagnostic imaging technology for minimally invasive surgeries and dentistry.
In terms of service type, the medical equipment maintenance market is segregated into preventive maintenance, corrective maintenance, and operational maintenance. The preventive segment is projected to account for a considerable share of the market during the forecast period. Service providers are likely to benefit from the rising focus on implementing preventative maintenance practices among healthcare organizations in the coming years.
On the basis of service providers, the market is segregated into multi-vendor OEMs, single-vendor OEMs, independent service organizations, and in-house maintenance. The multi-vendor OEMs segment is anticipated to account for a significant share of the market during the forecast period. The total cost of maintenance services under multi-vendor management is lower than single-vendor OEM contracts, while the quality of services is similar to that of the latter. Outsourcing to a service provider that provides multi-vendor services (MVS) can save 20% on costs, which is expected to drive the segment during the forecast period.
In terms of end-uses, the medical equipment maintenance market is segregated into hospital, diagnostic imaging centers, dialysis centers, ambulatory surgical centers, dental clinics & specialty clinics, and others. The hospital segment is projected to account for a considerable share of the market during the forecast period. Hospitals are forming alliances and collaborations with medical device maintenance service providers to develop in-house repair facilities or outsource maintenance services as a result of the increasing patient intake.
On the basis of regions, the global medical equipment maintenance market is classified as Asia Pacific, North America, Latin America, Europe, and Middle East & Africa. In 2020, North America held the dominant share of the market. Presence of well equipped healthcare facilities such as hospitals and diagnostic imaging centers, rising installation base for sophisticated medical technologies in healthcare facilities, are driving the market. In 2020, the US held a key share of the global medical equipment maintenance market. Strong foundation of independent service providers and in-house maintenance, and rising installation base for medical devices in healthcare institutions, are driving the market in the region.
Segments
Segments Covered in the Report:
By Device Type
- Diagnostic Imaging Equipment
- CT Scanners
- MRI Systems
- Ultrasound Systems
- X-Ray Systems
- Mammography Systems
- Angiography Systems
- Fluoroscopy Systems
- Nuclear Imaging Equipment (PET/SPECT)
- Electrosurgical Equipment
- Endoscopic Devices
- Surgical Equipment
- Medical Lasers
- Ophthalmology Equipment
- Patient Monitoring & Life Support Devices
- Ventilators
- Anesthesia Monitoring Equipment
- Infusion Pumps
- Dialysis Equipment
- Other Life Supported Devices & Patient Monitoring Devices
- Dental Radiology Equipment
- Dental Laser Devices
- Other Dental Equipment
- Laboratory Equipment
- Durable Medical Equipment
- Radiotherapy Devices
By Service Type
- Preventive Maintenance
- Corrective Maintenance
- Operational Maintenance
By Service Providers
- Multi-vendor OEMs
- Single-vendor OEMs
- Independent Service Organization
- In-house Maintenance
By End-users
- Hospital
- Diagnostic Imaging Centers
- Dialysis Centers
- Ambulatory Surgical Centers
- Dental Clinics &Specialty Clinics
- Others
By Regions
- Asia Pacific
- North America
- Europe
- Latin America
- Middle East &Africa
By Key Players
- GE Healthcare
- Siemens Medical Solutions USA, Inc
- Koninklijke Philips N.V
- Medtronic
- FUJIFILM Holdings America Corporation
- CANON MEDICAL SYSTEMS CORPORATION
- Carestream Health
- Drägerwerk AG & Co
- KGaA
- Hitachi, Ltd
- Althea Group
- Olympus Medical Systems India Private Limited
- B. Braun Melsungen AG
Competitive Landscape
Key players in the market are GE Healthcare, Siemens Medical Solutions USA, Inc., Koninklijke Philips N.V.,Medtronic, FUJIFILM Holdings America Corporation, CANON MEDICAL SYSTEMS CORPORATION, Carestream Health., Drägerwerk AG & Co. KGaA, Hitachi, Ltd., Althea Group., Olympus Medical Systems India Private Limited, and B. Braun Melsungen AG