Press release
Thriving Medical Equipment Calibration Services: Market Size Projections and Predominant Trends
Thriving Medical Equipment Calibration Services
What Is The Projected Market Size Of The Global Medical Equipment Calibration Services And Its Growth Rate?
The Medical Equipment Calibration Services market has seen rapid expansion recently with prospective growth in the forecast period:
* In 2024, the market size was $1.65 billion.
* The market size will reach $1.83 billion in 2025, growing at a CAGR of 10.8%.
* By 2029, the market is predicted to soar to $2.74 billion with a CAGR of 10.7%.
Factors contributing to this growth include digital health expansion, eco-friendly calibration practices, preventive maintenance, clinical laboratory accreditation, and patient safety.
What Is Driving The Growth In The Medical Equipment Calibration Services?
Massive investments in health infrastructure are propelling the growth of the Medical Equipment Calibration Services market. Enhanced healthcare infrastructure accommodates improved public health protection. Calibration services ensure the safety and efficiency of medical devices, contributing to market growth. According to the Indian Brand Equity Foundation, the healthcare market could triple to $133.44 billion by 2022. The Centre for Medicaid & Medicare Services reported a 9.7% increase in U.S. healthcare spending in 2020, reaching $12,530 per person or $4.1 trillion. This influx of investment reinforces the market's vitality.
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Who Are the Key Players Driving Medical Equipment Calibration Services Growth?
Prominent players in the Medical Equipment Calibration Services market include:
* Transcat Inc.
* Tektronix Inc.
* Fluke Biomedical LLC
* Biomedical Technologies Inc.
* NS Medical Systems
* JM Test Systems LLC
* JPen Medical
and many more leading global companies.
What Are The Key Trends In The Medical Equipment Calibration Services?
Key markers of progress in the Medical Equipment Calibration Services field include:
* Telehealth equipment calibration
* Remote calibration support
* Digital calibration solutions
* Internet of Things (IoT)-enabled calibration
* Artificial Intelligence (AI)-enhanced calibration
What Are The Segments Of The Global Medical Equipment Calibration Services?
The Medical Equipment Calibration Services market is categorized by:
* Service: In-house, Third-Party Services, Original Equipment Manufacturer (OEM)
* Equipment: Fetal Monitors, Imaging Equipment, Vital Sign Monitors, Infusion Pumps, Cardiovascular Monitors, Ventilators, Other Equipment
* End User: Hospitals, Clinical Laboratories, Other End Users
Which Region Leads The Medical Equipment Calibration Services?
With the largest market share in 2024, North America leads the Medical Equipment Calibration Services market. However, the future sees the Asia-Pacific region as the fastest-growing prospect. The report includes regions like Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, and Africa.
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What Is Covered In The Medical Equipment Calibration Services Global Market Report?
- Market Size Analysis: Analyze the Medical Equipment Calibration Services size by key regions, countries, product types, and applications.
- Market Segmentation Analysis: Identify various subsegments within the Medical Equipment Calibration Services market for effective categorization.
- Key Player Focus: Focus on key players to define their market value, share, and competitive landscape.
- Growth Trends Analysis: Examine individual growth trends and prospects in the Market.
- Market Contribution: Evaluate contributions of different segments to the overall Medical Equipment Calibration Services growth.
- Growth Drivers: Detail key factors influencing market growth, including opportunities and drivers.
- Industry Challenges: Analyze challenges and risks affecting the Medical Equipment Calibration Services.
- Competitive Developments: Analyze competitive developments, such as expansions, agreements, and new product launches in the market.
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