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Medical Equipment Maintenance Market Trends, Size, Growth Rate And Forecast 2033
Medical Equipment Maintenance Market
The Business Research Company offers in-depth market insights through Medical Equipment Maintenance Global Market Report 2024, providing businesses with a competitive advantage by thoroughly analyzing the market structure, including estimates for numerous segments and sub-segments.
Market Size And Growth Forecast:
The medical equipment maintenance market size has grown rapidly in recent years. It will grow from $36.47 billion in 2023 to $40.92 billion in 2024 at a compound annual growth rate (CAGR) of 12.2%. The growth in the historic period can be attributed to increased equipment complexity, rise in healthcare spending, focus on preventive maintenance, specialized service providers, quality and patient safety concerns.
The medical equipment maintenance market size is expected to see rapid growth in the next few years. It will grow to $64.09 billion in 2028 at a compound annual growth rate (CAGR) of 11.9%. The growth in the forecast period can be attributed to integration of predictive analytics, ongoing training and skill development, extended equipment longevity, emphasis on patient safety and quality care, demand for specialized service providers. Major trends in the forecast period include telehealth expansion, environmental sustainability, outsourcing maintenance services, shift to preventive maintenance, remote monitoring solutions.
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Market Segmentation:
The medical equipment maintenance market covered in this report is segmented -
1) By Service Type: Preventive Maintenance, Corrective Maintenance, Operational Maintenance
2) By Device: Imaging Equipment, Endoscopic Devices, Surgical Instruments, Electro-medical Equipment
3) By Technology: Multi-Vendor OEMs, Single-Vendor OEMs, Independent Service Organization, In-House Maintenance
4) By End User: Hospital, Diagnostic Imaging Centers, Dialysis Centers, Ambulatory Surgical Centers, Dental Clinics And Specialty Clinics, Other End Users
Major Driver - Rising Demand For Medical Devices Fuels Growth In The Medical Equipment Maintenance Market
The increase in demand for medical devices is significantly contributing to the growth of the medical equipment maintenance market. Medical devices are instruments, machines, and apparatus that are used for medical purposes to prevent, diagnose, or treat diseases. The rising demand for medical devices requires effective medical equipment maintenance services to lower dispatch costs, minimize patient dissatisfaction, ensure prompt patient treatment, and lower fatality and risk during patient care. For instance, according to the International Trade Administration and U.S. Department of Commerce report, the total production of medical devices and equipment in India reached $4,473 million in 2020, which is an increase compared to $2,390 million in 2019. Therefore, the increase in demand for medical devices is expected to propel the growth of the medical equipment maintenance market going forward.
Competitive Landscape:
Major companies operating in the medical equipment maintenance market report are McKesson Corporation, Cardinal Health, Johnson & Johnson, Hitachi Ltd., General Electric Co, Thermo Fisher Scientific Inc., Abbott Laboratories, Fujitsu Limited, Medtronic plc, Danaher Corporation, Canon Inc., Toshiba International Corporation, Siemens Healthineers AG, FUJIFILM Holdings Corporation, Koninklijke Philips N.V., Stryker Corporation, Aramark Services Inc., Baxter International Inc., Laboratory Corporation of America Holdings Corp, Henry Schein Inc., Quest Diagnostics Incorporated, B. Braun Melsungen AG, Olympus Corporation, Dentsply Sirona Inc., Drägerwerk AG & Co KGaA, Hill-Rom Holdings Inc., Getinge AB, KARL STORZ SE & Co KG, Carestream Health Inc., Althea Group Holdings Ltd.
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Top Trend - Innovative Solutions For Enhanced Healthcare With Technical Service Center
Major companies operating in the medical equipment maintenance market are developing innovations, such as medical equipment service center, to support the Thai public health system. A medical equipment service center is a facility dedicated to maintaining, repairing, and calibrating medical devices and equipment. For instance, in July 2022, B. Braun, a US-based, leading company in smart infusion therapy and safe and effective pharmacy products, launched the Technical Service Center to provide quality-driven medical equipment repair and maintenance services. The B. Braun Technical Service Center is staffed by a team of experienced engineers who are trained to service all the company's medical equipment. The center also uses only genuine B. Braun parts to ensure the highest quality of repairs.
The Table Of Content For The Market Report Include:
1. Executive Summary
2. Medical Equipment Maintenance Market Characteristics
3. Medical Equipment Maintenance Market Trends And Strategies
4. Medical Equipment Maintenance Market - Macro Economic Scenario
5. Medical Equipment Maintenance Market Size And Growth
…..
27. Medical Equipment Maintenance Market Competitor Landscape And Company Profiles
28. Key Mergers And Acquisitions
29. Future Outlook and Potential Analysis
30. Appendix
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The Business Research Company (www.thebusinessresearchcompany.com) is a market intelligence firm that pioneers in company, market, and consumer research. Located globally, TBRC's consultants specialize in various industries including manufacturing, healthcare, financial services, chemicals, and technology. The firm has offices located in the UK, the US, and India, along with a network of proficient researchers in 28 countries.
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