Press release
Surge in Medical Equipment Maintenance Market: Promising CAGR of 12.2%, Market Size of $71.76 Billion by 2029, Triggered by Technological Innovations and Quality Patient Care
Medical Equipment Maintenance Market Size
What Is The Projected Market Size Of The Global Medical Equipment Maintenance Market And Its Growth Rate?
• The medical equipment maintenance market will rise from $40.56 billion in 2024 to $45.36 billion in 2025, with a compound annual growth rate (CAGR) of 11.8%.
• By 2029, the market is forecasted to hit a substantial figure of $71.76 billion, propelling at a CAGR of 12.2%.
• This optimistic growth scenario is attributed to quality patient safety concerns, preventive maintenance focus, integration of predictive analytics, and demand for specialized service providers.
What Is Driving The Growth In The Medical Equipment Maintenance Market?
The pressing demand for medical devices is the key driver for the boom in the Medical Equipment Maintenance Market. These devices, ranging from apparatus to machines, help diagnose, prevent, or treat diseases and require effective maintenance for lowering patient dissatisfaction, promoting swift treatment, and reducing risks during patient care. A significant example is the Indian medical devices market, which is pegged at $11 billion but is projected to balloon to $50 billion by 2025, as per Invest India.
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Who Are the Key Players Driving Medical Equipment Maintenance Market Growth?
• Hitachi Ltd.
• General Electric Co
• 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.
• 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.
What Are The Key Trends In The Medical Equipment Maintenance Market?
• Expansion of telehealth
• Commitment towards environmental sustainability
• Outsourcing maintenance services
• Shift to preventive maintenance
• Adoption of remote monitoring solutions
What Are The Segments Of The Global Medical Equipment Maintenance Market?
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
Which Region Leads The Medical Equipment Maintenance Market?
North America dominated the Medical Equipment Maintenance Market in 2024. However, Asia-Pacific is projected to be the fastest-growing region in the upcoming years with wide emphasis on quality patient care, technological improvements and increased healthcare spending.
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What Is Covered In The Medical Equipment Maintenance Market Global Market Report?
- Market Size Analysis: Analyze the Medical Equipment Maintenance Market size by key regions, countries, product types, and applications.
- Market Segmentation Analysis: Identify various subsegments within the Medical Equipment Maintenance 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 Maintenance Market growth.
- Growth Drivers: Detail key factors influencing market growth, including opportunities and drivers.
- Industry Challenges: Analyze challenges and risks affecting the Medical Equipment Maintenance Market.
- Competitive Developments: Analyze competitive developments, such as expansions, agreements, and new product launches in the market.
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