Medical Equipment Maintenance Market 2019 - New Technology Advancements and Future Outlook

The global medical equipment maintenance market expected to be US$ 16,943.29 Mn in 2018 and is predicted to grow at a CAGR of 9.0% during the forecast period 2019 - 2027, to reach US$ 36,525.26 Mn by 2027.

The market for medical equipment maintenance is expected to grow, owing to factors such as increasing purchase of refurbished medical systems, growing medical equipment market and rising prevalence of chronic diseases. In addition, growing public private partnership in healthcare industry is likely to have a positive impact on the growth of the market in coming years.

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Original Equipment Manufacturers segment is expected to grow the market for Medical Equipment Maintenance Over the Forecast Period for Service Provider Segment.

Global medical equipment maintenance market, based on the service provider, was segmented as, original equipment manufacturers, independent service organizations, and in-house maintenance. In 2018, original equipment manufacturers held the largest share of the market, by service provider. In addition, the segment is also anticipated to grow at a significant rate during the forecast period.

The major players operating in the medical equipment maintenance market include, Stryker, Boston Scientific, Medtronic, Edward Lifesciences, Johnson & Johnson, Abbott Laboratories, Terumo, B. Braun Melsungen Ag, Aramark Services, Inc., and Althea among the others. The market has witnessed various organic as well as inorganic developments during recent years in the medical equipment maintenance market. During April 2019, Stryker launched the LIFEPAK CR2 defibrillator with LIFELINKcentral AED program manager, in the United States

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North America held the largest market share and is expected to be the significant revenue contributor in forecast period. The growth in North America is characterized by growing medical device industry, strict regulations for medical device and increasing efforts in R&D activities as well as other activities undertaken by the market players operating in the market. In addition, technological advancements in the medical device industry has led to complex medical devices ecosystem in the regions and is likely to stimulate the growth of medical equipment maintenance market in North America.

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This release was published on openPR.