Medical Equipment Maintenance Market Regional Revenue, Trends, Opportunities and Future Prospects - P&S Intelligence

The market growth will be driven by various factors such as growing medical device industry and healthcare expenditure, rising awareness for preventive maintenance, and regulatory requirement for medical equipment maintenance.

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Imaging equipment, endoscopic devices, surgical instruments, electromedical equipment, and other medical equipment are the various types of devices for which maintenance services are being adopted by hospitals and other end users. As per the findings of the research, imaging equipment held the largest medical equipment maintenance market share in 2016, since these are costly and are used for the diagnosis of a large number of diseases. The medical equipment maintenance services include preventive maintenance, corrective maintenance, and operational maintenance services. Preventive maintenance is expected to be the fastest growing service type, as corrective maintenance is costlier than preventive maintenance and due to the tendency of medical device users to avoid this cost.

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Owing to the better service quality of OEMs, they are expected to garner a higher growth in the medical equipment maintenance market, during the forecast period, than ISOs, and in-house maintenance. Private-sector organizations are expected to register a faster growth during the forecast period than public-sector organizations, on account of growing private-sector healthcare industry and increasing expenditure on healthcare infrastructure including instalment and maintenance of medical equipment.

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According to the U.S. Centers for Medicare & Medicaid Services, in 2015, U.S. health care spending reached $3.2 trillion, or $9,990 per person. The growth in total health care spending in 2015 was driven by stronger growth in spending for private health insurance, hospital care, physician and clinical services. In 2015, the overall share of the U.S. economy devoted to health care spending was 17.8% in 2015, up from 17.4% in 2014. Spending for hospital care increased by 5.6% to $1.0 trillion in 2015 compared to 4.6% growth in 2014. The advancement in medical device technology is also supporting the growth of medical devices market, leading to growth in the medical equipment maintenance market.

Some of the other key players operating in the medical equipment maintenance market include General Electric Company, B. Braun Melsungen AG, Koninklijke Philips N.V., Fujifilm Holdings Corporation, Canon Inc., Aramark Corporation, TBS Group S.p.A., Hitachi Ltd., Agfa Gevaert, and Drägerwerk AG & Co. KGAA.

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