COVID-19 Impact on Medical Equipment Maintenance Market | Stryker, Boston Scientific, Medtronic, Edward Lifesciences, Johnson & Johnson, Abbott Laboratories, Terumo, B. Braun Melsungen Ag, Aramark Services, and Althea among the others

Medical Equipment Maintenance Market research added by the insight partners, offers a comprehensive analysis of growth trends prevailing in the global business domain. This report also provides definitive data concerning market, size, commercialization aspects and revenue forecast of the Medical Equipment Maintenance industry. In addition, the study explicitly highlights the competitive status of key players within the projection timeline while focusing on their portfolio and regional expansion endeavours.

This report on Medical Equipment Maintenance Market delivers an in-depth analysis that also comprises an elaborate assessment of this business. Also, segments of the Medical Equipment Maintenance Market have been evidently elucidated in this study, in addition to a basic overview pertaining to the market's current status as well as size, with respect to the profit and volume parameters. The study is ubiquitous of the major insights related to the regional spectrum of this vertical as well as the companies that have effectively gained a commendable status in the Medical Equipment Maintenance Market.

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According to The Insight Partners market research study titled "Medical Equipment Maintenance Market to 2027 - Global Analysis and Forecasts by Device Type, Service Type and Service Provider". The Global medical equipment maintenance market is expected to reach US$ 36,525.26 Mn in 2027 from US$ 16,943.29 Mn in 2018. The market is estimated to grow with a CAGR of 9.0% from 2019-2027. The report highlights the trends prevalent in the global medical equipment maintenance market and the factors driving the market along with those that act as deterrents to its growth.

Market Insights

Rising Prevalence of Chronic Diseases
Chronic diseases such as obesity, diabetes, stroke, and heart disease, are among the leading causes of death and account for most of the nation's health care costs. According to the estimates by The Asia Pacific Burden of Disease, the death rate of CVD is approximately 272 per 100,000 people in India, which is comparatively higher than the Asia Pacific average (i.e., 235 per 100 000 population). Similar trends for the increased prevalence of diabetes is witnessed among Asian countries such as Australia, China, and South Korea. For instance, as per IDF Diabetes Atlas published by the International Diabetes Federation in 2017, South-East Asia consists of almost one-fifth of the Asia Pacific diabetes population.

According to the Centers for Disease Control and Prevention (CDC) in 2019, almost 6 in 10 people in the US suffer from at least one chronic disease and 4 in 10 people have two or more chronic conditions. Also, cancer is one of the leading cause of death in the North America region. Furthermore, the American Cancer Society (ACS) estimated that in 2018, there was a diagnosis of approximately 1,735,350 new cancer cases. As per the data published by the World Health Organization (WHO), in 2014, around 230 million people in China had CVD. Also, by 2030, the number is predicted to increase by 50% considering the aging Chinese population and growth. Additionally, by 2030, cardiovascular disease will cost $ 1,044 billion to the Chinese government.

According to the Kidney Foundation of Canada, it is estimated that 70% - 80% of the cases are diagnosed with calcium oxalate stones in 2018. Moreover, according to the European Medical Journal, the prevalence of the urinary tract stones across the world ranges approximately from 4% to 20%. Furthermore, it is estimated that the rise in the cases may witness the increase near about from 40% to 50% by 2050. The article also stated that in the USA, the prevalence of nephrolithiasis was approximately 10% in men and 7% in women in 2015. Furthermore, the statistic for the prevalence of the kidney stone was observed in the countries such as Italy, Spain, and Scotland, the percentage of the prevalence of the kidney stone were near about 1%, 10%, and 3.5% respectively. Hence, the rise in the prevalence of chronic diseases is anticipated to drive the market during the forecast period.

Major Players Included in Medical Equipment Maintenance report are as follows

o Stryker
o Boston Scientific
o Medtronic
o Edward Lifesciences
o Johnson & Johnson
o Abbott
o Terumo Corporation
o B. Braun Melsungen Ag
o Aramark Services, Inc.
o Althea

MEDICAL EQUIPMENT MAINTENANCE - MARKET SEGMENTATION

By Device Type

o Electromedical Equipment
o Endoscopic Devices
o Surgical Instruments
o Other Medical Equipment

By Service Type

o Preventive Maintenance
o Corrective Maintenance
o Operational Maintenance

By Service Provider

o Original Equipment Manufacturers
o Independent Service Organizations
o In-House Maintenance

Medical Equipment Maintenance Market: Regional analysis includes:

o Asia-Pacific(Vietnam, China, Malaysia, Japan, Philippines, Korea, Thailand, India, Indonesia, and Australia)
o Europe(Turkey, Germany, Russia UK, Italy, France, etc.)
o North America(the United States, Mexico, and Canada.)
o South America(Brazil etc.)
o The Middle East and Africa(GCC Countries and Egypt.)

Medical Equipment Maintenance Market: Competitive Landscape-

Analysts have thoroughly evaluated the competitive landscape in the Medical Equipment Maintenance Market. The report includes the study of key players in the Medical Equipment Maintenance Market. It also outlines the strategic initiatives companies have taken in recent years to keep pace with increasing competition. It also includes an assessment of the financial perspectives of these companies, their research and development plans, and their future business strategies.

Medical Equipment Maintenance Market: Drivers and Restraints-

The comprehensive market assessment of Medical Equipment Maintenance contains a complete explanation of the controls available on the market. Analysts have studied investment in research and development, the impact of changing economies, and consumer behaviour to determine the factors that will drive the market in general. In addition, analysts have attempted to take into account changes in manufacturing and industrial operations that determine product sales in the Medical Equipment Maintenance Market.
This chapter also explains the possible restrictions on the Medical Equipment Maintenance Market. Assess the reasons that could hinder the market growth. Analysts have assessed growing environmental concerns and fluctuating raw material costs, which are predicted to dampen the spirit of the Medical Equipment Maintenance Market. However, analysts have also identified potential opportunities that players in the Medical Equipment Maintenance Market can rely on. The chapter on controls, restrictions, threats and opportunities offers a holistic view of the Medical Equipment Maintenance Market.

Key Questions Answered

o How big will the market for Medical Equipment Maintenance be in 2027?
o What is the current CAGR of the Medical Equipment Maintenance Market?
o Which product is expected to have the highest market growth?
o Which application should be used to win a large part of the market for Medical Equipment Maintenance?
o Which region is likely to offer the most opportunities on the Medical Equipment Maintenance Market?
o Will the market competition change in the forecast period?
o Who are the main players currently active in the global Medical Equipment Maintenance Market?
o How will the market situation change within the coming years?
o What are the usual commercial tactics for players?
o What is the growth perspective of the global Medical Equipment Maintenance Market?

Answering these types of questions can be very useful for gamers to clear up their doubts as they implement their strategies to grow in the global Medical Equipment Maintenance Market. The report provides a transparent picture of the actual situation in the global Medical Equipment Maintenance Market so that companies can work more effectively. It can be tailored to the needs of readers to better understand the global market for Medical Equipment Maintenance.

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