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Evolving Market Trends In The Medical Equipment Maintenance Industry: Strategic Partnerships Reshaping The Landscape Of Medical Equipment Maintenance
Medical Equipment Maintenance
What Is the Current Medical Equipment Maintenance Market Size and Its Estimated Growth Rate?
In recent times, the market size of medical equipment maintenance has experienced fast-paced expansion. A growth from $40.56 billion in 2024 to $45.36 billion in 2025, at a compound annual growth rate (CAGR) of 11.8%, is predicted. Factors such as amplified equipment complexity, surge in healthcare expenditure, emphasis on preemptive maintenance, provision of specialized services, and concerns over quality and safety for patients have contributed to the historical growth of this market.
In the ensuing years, the medical equipment maintenance market is projected to witness swift expansion. The market size is anticipated to surge to $71.76 billion by 2029, with a compound annual growth rate (CAGR) of 12.2%. Factors contributing to this growth during the forecast period include the application of predictive analytics, continuous training and skill development, improved equipment lifespan, focus on patient safety and high-quality care, and the need for specialist service providers. Key trends during the forecast period will consist of the growth of telehealth, commitment to environmental sustainability, the trend of outsourcing maintenance services, a shift towards preventive maintenance, and remote monitoring solutions.
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How Are Emerging Segments Shaping the Medical Equipment Maintenance Market Landscape?
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
Subsegments:
1) By Preventive Maintenance: Scheduled Maintenance, Calibration Services, Performance Testing
2) By Corrective Maintenance: Repair Services, Replacement of Parts, Emergency Repair Services
3) By Operational Maintenance: Daily Operation Checks, User Training and Support, Software Updates and Upgrades
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Which Growth Factors Are Influencing Medical Equipment Maintenance Market Expansion?
A significant influence on the expansion of the medical equipment maintenance market is the rising requirement for medical tools. These tools, be it machines, instruments, or apparatuses, have a medically essential role in diagnosing, preventing, or treating diseases. Effective medical gear maintenance services are essential due to the increasing demand for these devices. Such services help in reducing delivery costs, mitigating patient dissatisfaction, ensuring speedy patient care, and lessening the risk and mortality during patient care. As an illustration, Invest India - an Indian National Investment Promotion and Facilitation Agency, had valued the Indian medical devices market to be around $11 billion, with a projection to escalate to $50 billion by 2025. As such, the surge in demand for medical gear is anticipated to drive the growth of the medical equipment maintenance market further.
Who Are the Dominant Players Across Different Medical Equipment Maintenance Market Segments?
Major companies operating in the medical equipment maintenance market include 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 Latest Developing Trends in the Medical Equipment Maintenance Market?
Prominent firms in the medical equipment maintenance market are forming strategic alliances to boost their service offerings, extend their market influence, and heighten client satisfaction. These alliances enable companies to exploit complementary attributes, such as merging novel technologies with existent service networks. For example, GE HealthCare, an American innovator of medical technology and digital solutions, formed an alliance with Advantus Health in March 2023. This collaboration, valued up to $760 million over a decade, aspires to deliver GE's Healthcare Technology Management (HTM) services to Advantus' clientele. This aims to enhance the upkeep and supervision of medical apparatus, thereby improving the quality of healthcare.
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Which Geographic Regions Are Expected to Dominate the Medical Equipment Maintenance Market in the Coming Years?
North America was the largest region in the medical equipment maintenance market in 2024. Asia-Pacific is expected to be the fastest-growing region in the forecast period. The regions covered in the medical equipment maintenance market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa.
Frequently Asked Questions:
1. What Is the Market Size and Growth Rate of the Medical Equipment Maintenance Market?
2. What is the CAGR expected in the Medical Equipment Maintenance Market?
3. What Are the Key Innovations Transforming the Medical Equipment Maintenance Industry?
4. Which Region Is Leading the Medical Equipment Maintenance Market?
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