Medical Equipment Maintenance Market Is Anticipated to Grow further to USD 121.9 Billion in 2032 | Medtronic, Carestream Health, Aramark Services

The global medical equipment maintenance market was valued at USD 45.4 billion in 2022 and it is anticipated to grow further to USD 121.9 billion in 2032, at a CAGR of 10.4% during the forecast period.

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To accurately assess patients' health, medical equipment is used in diagnostic procedures as well as operations and therapies. As a result, maintaining and enhancing the accuracy and precision of medical devices depends greatly on their maintenance. Maintenance of medical equipment makes sure the tools are accurate and error-free. It entails determining the expected lifespan of machinery that ranges from simple devices like sphygmomanometers to complex ones like Magnetic Resonance Imaging (MRI) machines. Additionally, it is involved with frequency-scheduling tasks, fixing broken equipment, optimizing, and deciding on maintenance schedules based on user data. With the rise in demand for refurbished medical equipment and the incidence of life-threatening disorders, there has been a growing necessity for maintaining medical equipment in recent years.

Market Trends and Drivers

In recent years, as healthcare organizations have worked to improve patient safety and care quality, there has been a greater emphasis on preventive maintenance of medical equipment. This entails a properly planned program where scheduled maintenance chores are carried out to prevent greater and more expensive problems in the future. Additionally, it aids in lowering equipment downtime, improving device reliability and enhancing daily operations.

Preventive maintenance strategies are becoming more popular as planned inspections and maintenance of medical devices help prevent unfavorable incidents and accidents involving medical devices. The safe, effective, and long-lasting use of medical devices is guaranteed by routine maintenance services. In the upcoming years, development possibilities for service providers are anticipated as a result of the increasing emphasis that healthcare organizations are placing on the implementation of preventative maintenance practices.

Major Players in the Global Medical Equipment Maintenance Market

The key players studied in the report are GE Healthcare (US), Siemens Healthineers (Germany), Koninklijke Philips N.V. (Netherlands), Medtronic plc (Ireland), FUJIFILM Holdings Corporation (Japan), Canon, Inc. (Toshiba Medical System Corporation, Japan), Agfa-Gevaert Group (Belgium), Carestream Health, Inc. (US), Drägerwerk AG & Co. KGaA (Germany), Hitachi Medical Corporation (Japan), Althea Group (Italy), Olympus Corporation (Japan), B. Braun Melsungen AG (Germany), KARL STORZ GmbH & Co. KG (Germany), and Aramark Services, Inc. (US) among others.

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COVID-19 Impact

Because of the pandemic, hospitals were largely focused on the critical care devices used in the COVID-19 pandemic between March 2020 and the end of the second quarter of 2020, which made it harder to reach clients to provide medical equipment maintenance. The need for critical care equipment like ventilators has significantly increased as a result of the epidemic. Companies that do not service critical care devices will find it difficult to obtain supplies, such as accessories for the maintenance of non-critical medical equipment, due to restrictions on the transportation of components. This is projected to increase the supply-demand gap for the maintenance services of non-critical devices.

Global Medical Equipment Maintenance Market Segmentation

By Equipment

Imaging Equipment
Electromedical Equipment
Endoscopic Devices
Surgical Instruments
Other

By Service

Preventive Maintenance
Corrective Maintenance
Operational Maintenance

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