Medical Equipment Maintenance Market Size, Company | Valuates Reports

The Medical Equipment Maintenance Market is Segmented by Device (Imaging Equipment Electromedical Equipment, Endoscopic Devices, Surgical Instruments, Other Medical Equipment), Service Type (Preventive Maintenance, Corrective Maintenance, and Operation Maintenance), Service Provider (Original Equipment Manufacturers, Independent Service Organizations, In-house Maintenance), End User (Public Organizations and Private Organizations) and Geography (North America, Europe, APAC and RoW). This report is published on Valuates Reports in the Medical Facilities & Services Category.

The Medical Equipment Maintenance Market will grow from USD 34.79 Billion in 2020 to USD 60.16 Billion by 2026, with a CAGR of 9.56% during the forecast period.

Major factors driving the growth of the Medical Equipment Maintenance Market are:

• Increasing awareness of the preventive maintenance of medical equipment.
• Raise in the purchase of refurbished medical equipment.
• Growth in associated equipment markets, adoption of innovative funding mechanisms.

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TRENDS INFLUENCING THE GROWTH OF MEDICAL EQUIPMENT MAINTENANCE MARKET

A rising focus on preventive medical equipment maintenance is expected to drive the growth of the medical equipment market. In recent years, as healthcare organizations strive to improve patient safety and care quality, a greater emphasis has been placed on preventive maintenance of medical equipment. This is a meticulously planned program in which maintenance chores are completed on a regular basis in order to avoid more expensive and time-consuming repairs in the future. It also aids in the reduction of downtime, which improves day-to-day operations and device reliability. Planned inspections and medical device maintenance can help to avert bad occurrences and medical device-related accidents, therefore the preventive maintenance strategy is gaining traction.

A raise in the purchase of refurbished medical equipment is expected to increase the growth of the medical equipment maintenance market. The refurbished equipment allows buying of necessary devices at affordable prices, without compromising quality; therefore, healthcare facilities, including small and medium ones, purchase refurbished medical devices. Refurbished medical devices are preferred by hospitals, especially in developing countries, because they need less capital investment and allows them to provide healthcare services at a lower cost to patients.

Furthermore, various firms' expansion strategies and untapped potential among developing countries will further increase various opportunities, resulting in the medical equipment maintenance market's growth over the forecast period.

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MEDICAL EQUIPMENT MAINTENANCE MARKET SHARE

Based on service type, the preventative maintenance segment is expected to hold the largest medical equipment maintenance market share. The benefits of preventive maintenance services, such as scheduled inspections to ensure safety and avoid costly repairs in the future, are particularly popular in the medical repair market.


Based on device type, the Imaging equipment device segment is expected to hold the largest
medical equipment maintenance market share. This is attributed to the
high requirement of the maintenance services incurred in the imaging equipment
and high cost for the shifting of the device as well as the need of
verification of the maximum active time of the equipment.


Based on end-user, public organizations have the largest share in the medical equipment maintenance market. Because of the higher frequency of use, these public healthcare facilities necessitate regular equipment maintenance.


Based on region, North America is expected to hold the largest medical equipment maintenance market share.

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MEDICAL EQUIPMENT MAINTENANCE MARKET SEGMENTS

Device Type:

• Imaging Equipment

o Advanced Imaging Modalities
 CT
 MRI
 Other Advanced Medical Imaging Modalities
o Primary Imaging Modalities
 Digital X-Ray
 Ultrasound
 Other Primary Medical Imaging Modalities
• Electromedical Equipment
• Endoscopic Devices
• Surgical Instruments
• Other Medical Equipment
o Life Support Devices
o Dental Equipment.

Service Type:
• Preventive Maintenance
• Corrective Maintenance
• Operational Maintenance.


Service Provider:

• Original Equipment Manufacturers
o Multi-Vendor OEMs
o Single-Vendor OEMs
• Independent Service Organizations
• In-House Maintenance.


End-User:

• Public Organizations
• Private Organizations.

The key companies in the Medical Equipment Maintenance Market are:

• GE Healthcare,
• Koninklijke Philips N.V,
• Canon Inc,
• Siemens Healthineers,
• Aramark Services, Inc,
• Fujifilm Holdings Corporation,
• Agfa-Gevaert Group,
• Althea, Drägerwerk AG & Co.
• KGaA,
• Olympus Corporation,
• Braun Melsungen AG,
• Carestream Health, Inc,
• Hitachi Medical Corporation,
• Bc Technical, Inc,
• Karl Storz GmbH & Co. Kg.

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