Press release
Medical Equipment Maintenance Market Is Expected To Reach USD 62.57 Billion By The Year 2028| Agenor Mantenimientos (Spain), B. Braun Melsungen AG (Germany)
The Global Medical Equipment Maintenance Market Was Valued At USD 34.23 Billion In 2021 And Is Expected To Reach USD 62.57 Billion By The Year 2028, At A CAGR Of 9%.
The primary factors that reinforce the significance of medical equipment are to ensure improved patient care and to maintain the effectiveness of equipment used in identifying and treating illnesses and diseases. Additionally, there has been a recent, unheard-of increase in the number of patients with diabetes, cardiovascular conditions, blood pressure, lupus, and many other illnesses that, in some cases, call for hospitalization or the use of available medical apparatus. The majority of medical devices are complex and need trained personnel to keep them in working order. Due to the high cost of healthcare technology and the potential for breakdown from even minor negligence, routine maintenance is essential.
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Market Dynamics:
Driver:
The majority of the key factors influencing the development of the medical equipment maintenance market are the aging population and the risk of contracting a chronic or fatal illness with age. Diagnostic and therapy services are now an essential component of the health sector's delivery of healthcare services. Furthermore, a lot of people's quality of life is immediately improved by medical equipment. The market for medical equipment maintenance is expanding as a result of several factors, including growing public knowledge of the advantages of preventive maintenance of medical equipment and an increase in sales of refurbished medical equipment.
Opportunities/Market Trend:
The existing medical technology is being strained by the increase in people with cancer, diabetes, cardiovascular, and chronic kidney diseases. The need for regular maintenance of medical equipment to guarantee its proper operation grows as a result of this rising number. The need for medical apparatus maintenance has increased due to the COVID-19 outbreak. The need for medical equipment maintenance is being further promoted by rising frequent trips to hospitals and other medical facilities and rising health concerns among people.
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Market Segmentation
Depending on Service Type, preventive maintenance is forecasted to have the highest share of the Medical Equipment Maintenance Market. In the healthcare sector, preventive maintenance plays an important role in elevating patient care and safety.
Depending on Service Provider, the Original Equipment Manufacturer (OEMs) segment is anticipated to dominate the Medical Equipment Maintenance market throughout the forecast. The wide range of services provided by the OEMs and lucrative extended warranty offered on certain medical devices is stimulating the growth of this segment.
Depending on Device Type, the diagnostic imaging equipment is predicted to lead the Medical Equipment Maintenance Market throughout the forecast. The tremendous rise in the usage of medical imaging equipment to precisely determine the root cause of certain diseases is promoting the growth of this segment.
Depending on End-Users, the Hospital segment is expected to dominate the Medical Equipment Maintenance Market in the forecast period. The rise in the number of patients visiting hospitals for medical checkups and other treatments is encouraging the growth of this segment.
By Type
• Preventive Maintenance
• Operational Maintenance
• Corrective Maintenance
By Service Provider
• Original Equipment Manufacturers {OEMs}
• Independent Service Organizations
• In House Maintenance
By Device Type
• Diagnostic Imaging Equipment
• Surgical Instrument
• Endoscopic Devices
• Life Support Device
• Monitors
• Others
By End-User
• Hospitals
• Diagnostic Imaging Centers
• Dialysis Centers
• Ambulatory Surgical Center
• Others
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Regional Analysis of Medical Equipment Maintenance Market:
North America region is anticipated to dominate the Medical Equipment Maintenance Market in the period of forecast. The growing adoption of advanced medical facilities for treating and diagnosing individuals is the main factor driving the growth of the Medical Equipment Maintenance Market in this region. Countries such as the United States of America spend approximately 17.1% of their total GDP on healthcare expenditure, according to a report published in EMERGO. The well-developed and established healthcare infrastructure in countries such as The United States, Canada, and Mexico is further supporting the expansion of the market in the North American region.
By Region
• North America (U.S., Canada, Mexico)
• Europe (Germany, U.K., France, Italy, Russia, Spain, Rest of Europe)
• Asia-Pacific (China, India, Japan, Singapore, Australia, New Zealand, Rest of APAC)
• Middle East & Africa (Turkey, Saudi Arabia, Iran, UAE, Africa, Rest of MEA)
• South America (Brazil, Argentina, Rest of SA)
Key Industry Developments In Medical Equipment Maintenance Market
In October 2021, Dräger has launched the new Savina 300 NIV, the latest ventilator in its Savina 300 family of ventilators to meet the need for safe, effective, and reliable non-invasive ventilation (NIV) throughout the care continuum. The new Savina 300 NIV has a built-in turbine with a rapid response time and it has an external battery connection which allows the operation to be carried out independently from the central gas supply to provide care continuity while patient transfers.
In October 2021, Hitachi Ltd., along with Tohoku University and Kyoto University, have developed a novel technology for the high-quality production of actinium-225, a substance that is required for a form of radiation therapy as targeted alpha therapy (TAT). TAT is a novel technology that utilizes a substance, emitting alpha particles that destroy the cancer cells with a compound that selectively accumulates in cancer cells.
In September 2021, Lankenau Heart Institute part of Main Line Health, and Royal Philips, a global leader in health technology, declared that they have entered into a five-year strategic partnership to focus on integrated cardiovascular solutions. These partnerships' main motto is to help Main Line Health enhance its focus on clinical and technical training as well as its predictability and consistency in costs.
Players Covered in Medical Equipment Maintenance market are :
• Agenor Mantenimientos (Spain)
• Agfa-Gevaert NV (Belgium)
• Althea Group (Italy)
• B. Braun Melsungen AG (Germany)
• BCAS Biomedical Services Ltd. (UK)
• Canon Medical Systems Corporation (Japan)
• Dragerwerk AG & Co. KGaA (Germany)
• GE Healthcare (US)
• Hitachi Medical Corporation (Japan)
• Koninklijke Philips NV (Netherlands)
• Medtronic PLC (Ireland)
• Olympus Corporation (Japan)
• Siemens Healthineers (Germany)
• FUJIFILM Holdings Corporation (Japan)
• Aramark Services Inc. (the US) and others major key players.
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Table Of Content:
Chapter 1: Introduction
1.1 Research Objectives
1.2 Research Methodology
1.3 Research Process
1.4 Scope and Coverage
1.4.1 Market Definition
1.4.2 Key Questions Answered
1.5 Market Segmentation
Chapter 2:Executive Summary
Chapter 3:Growth Opportunities By Segment
3.1 By Type
3.2 By Service Provider
3.3 By Device Type
3.4 By End-User
Chapter 4: Market Landscape
4.1 Porter's Five Forces Analysis
4.1.1 Bargaining Power of Supplier
4.1.2 Threat of New Entrants
4.1.3 Threat of Substitutes
4.1.4 Competitive Rivalry
4.1.5 Bargaining Power Among Buyers
4.2 Industry Value Chain Analysis
4.3 Market Dynamics
4.3.1 Drivers
4.3.2 Restraints
4.3.3 Opportunities
4.5.4 Challenges
4.4 Pestle Analysis
4.5 Technological Roadmap
4.6 Regulatory Landscape
4.7 SWOT Analysis
4.8 Price Trend Analysis
4.9 Patent Analysis
4.10 Analysis of the Impact of Covid-19
4.10.1 Impact on the Overall Market
4.10.2 Impact on the Supply Chain
4.10.3 Impact on the Key Manufacturers
4.10.4 Impact on the Pricing
Chapter 5: Medical Equipment Maintenance Market by Type
5.1 Medical Equipment Maintenance Market Overview Snapshot and Growth Engine
5.2 Medical Equipment Maintenance Market Overview
5.3 Preventive Maintenance
5.3.1 Introduction and Market Overview
5.3.2 Historic and Forecasted Market Size (2016-2028F)
5.3.3 Key Market Trends, Growth Factors and Opportunities
5.3.4 Preventive Maintenance: Grographic Segmentation
5.4 Operational Maintenance
5.4.1 Introduction and Market Overview
5.4.2 Historic and Forecasted Market Size (2016-2028F)
5.4.3 Key Market Trends, Growth Factors and Opportunities
5.4.4 Operational Maintenance: Grographic Segmentation
5.5 Corrective Maintenance
5.5.1 Introduction and Market Overview
5.5.2 Historic and Forecasted Market Size (2016-2028F)
5.5.3 Key Market Trends, Growth Factors and Opportunities
5.5.4 Corrective Maintenance: Grographic Segmentation
Chapter 6: Medical Equipment Maintenance Market by Service Provider
6.1 Medical Equipment Maintenance Market Overview Snapshot and Growth Engine
6.2 Medical Equipment Maintenance Market Overview
6.3 Original Equipment Manufacturers {OEMS}
6.3.1 Introduction and Market Overview
6.3.2 Historic and Forecasted Market Size (2016-2028F)
6.3.3 Key Market Trends, Growth Factors and Opportunities
6.3.4 Original Equipment Manufacturers {OEMS}: Grographic Segmentation
6.4 Independent Service Organizations
6.4.1 Introduction and Market Overview
6.4.2 Historic and Forecasted Market Size (2016-2028F)
6.4.3 Key Market Trends, Growth Factors and Opportunities
6.4.4 Independent Service Organizations: Grographic Segmentation
6.5 In House Maintenance
6.5.1 Introduction and Market Overview
6.5.2 Historic and Forecasted Market Size (2016-2028F)
6.5.3 Key Market Trends, Growth Factors and Opportunities
6.5.4 In House Maintenance: Grographic Segmentation
Chapter 7: Medical Equipment Maintenance Market by Device Type
7.1 Medical Equipment Maintenance Market Overview Snapshot and Growth Engine
7.2 Medical Equipment Maintenance Market Overview
7.3 Diagnostic Imaging Equipment
7.3.1 Introduction and Market Overview
7.3.2 Historic and Forecasted Market Size (2016-2028F)
7.3.3 Key Market Trends, Growth Factors and Opportunities
7.3.4 Diagnostic Imaging Equipment: Grographic Segmentation
7.4 Surgical Instrument
7.4.1 Introduction and Market Overview
7.4.2 Historic and Forecasted Market Size (2016-2028F)
7.4.3 Key Market Trends, Growth Factors and Opportunities
7.4.4 Surgical Instrument: Grographic Segmentation
7.5 Endoscopic Devices
7.5.1 Introduction and Market Overview
7.5.2 Historic and Forecasted Market Size (2016-2028F)
7.5.3 Key Market Trends, Growth Factors and Opportunities
7.5.4 Endoscopic Devices: Grographic Segmentation
7.6 Life Support Device
7.6.1 Introduction and Market Overview
7.6.2 Historic and Forecasted Market Size (2016-2028F)
7.6.3 Key Market Trends, Growth Factors and Opportunities
7.6.4 Life Support Device: Grographic Segmentation
7.7 Monitors
7.7.1 Introduction and Market Overview
7.7.2 Historic and Forecasted Market Size (2016-2028F)
7.7.3 Key Market Trends, Growth Factors and Opportunities
7.7.4 Monitors: Grographic Segmentation
7.8 Others
7.8.1 Introduction and Market Overview
7.8.2 Historic and Forecasted Market Size (2016-2028F)
7.8.3 Key Market Trends, Growth Factors and Opportunities
7.8.4 Others: Grographic Segmentation
Chapter 8: Medical Equipment Maintenance Market by End-User
To Be Continued….
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