Medical Equipment Third-Party Calibration Services Market Key Players Analysis - NorthLab Pvt.Ltd, TÜV SÜD's calibration laboratory, Al Borg Diagnostics, Abdulminam Ibrahim Al Mohaisin Contracting, Allometrics Inc.

InsightAce Analytic Pvt. Ltd. announces the release of a market assessment report on the " Medical Equipment Third-Party Calibration Services Market - (By End-User (Hospitals (Electrical, Radio Frequency (RF), Temperature, Humidity, Pressure, Others), Clinical Laboratories, Others)), Trends, Industry Competition Analysis, Revenue and Forecast To 2031."

According to the latest research by InsightAce Analytic, the Medical Equipment Third-Party Calibration Services Market is valued at US$ 604.3 Mn in 2023, and it is expected to reach US$ 1,166.5 Mn by 2031, with a CAGR of 8.8% during the forecast period of 2024-2031.

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Third-party calibration services for medical equipment involve independent specialists performing precise evaluations and adjustments to ensure that devices maintain optimal accuracy, comply with regulatory requirements, and support safe, effective patient care. The growing demand for healthcare services, ongoing technological advancements in medical devices, and heightened awareness of the importance of routine equipment maintenance are key factors propelling market growth. In addition, the rising cost of healthcare and the need for medical services in underserved regions have fueled the demand for refurbished medical equipment-subsequently increasing the requirement for reliable calibration to ensure continued performance and safety.

As chronic diseases become more prevalent globally, medical professionals are increasingly reliant on accurate diagnostic and monitoring tools for effective patient management. This trend underscores the critical role of third-party calibration services in maintaining equipment reliability and performance. Moreover, the expansion of healthcare infrastructure, particularly in emerging economies, is contributing to the broader adoption of calibration services. The market is also benefiting from a growing societal emphasis on health and wellness, which supports sustained investment in medical equipment upkeep. However, the industry faces challenges stemming from stringent regulatory frameworks that govern calibration standards and service provider qualifications.

List of Prominent Players in the Medical Equipment Third-Party Calibration Services Market:
• NorthLab Pvt. Ltd
• TÜV SÜD's calibration laboratory
• Al Borg Diagnostics
• Abdulminam Ibrahim Al Mohaisin Contracting
• Allometrics Inc.
• The Calibration Company
• Copper Mountain Technologies
• LotusWorks
• ACS-Calibration
• NicolScales
• Aries e-Solutions
• Applus+

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Market Dynamics
Drivers:
The increasing emphasis on the accuracy and reliability of medical devices is a key driver behind the growing demand for third-party calibration services in the healthcare sector. In response to more stringent regulatory standards and compliance requirements, healthcare providers are increasingly engaging external experts to ensure their equipment meets safety and performance benchmarks. The widespread adoption of technologically advanced medical devices further necessitates regular calibration to maintain precision. Additionally, outsourcing calibration services is often more cost-efficient for hospitals and clinics, making third-party providers a preferred choice. The expansion of healthcare services and the development of medical infrastructure globally are also contributing significantly to the increased adoption of third-party calibration services.

Challenges:
Despite the growing need, the high costs associated with advanced medical equipment and calibration services present a considerable barrier, particularly for smaller healthcare facilities and institutions in developing regions. The complexity of calibrating sophisticated devices, coupled with rigorous regulatory standards, adds to operational burdens. Furthermore, the rapid pace of technological advancement can render existing equipment outdated, requiring frequent upgrades and recalibrations. The shortage of highly specialized professionals with expertise in handling advanced medical technologies further exacerbates operational challenges, thereby hindering market growth.

Regional Trends:
North America is expected to dominate the global medical equipment third-party calibration services market in terms of revenue, supported by a well-established healthcare system, a rising prevalence of chronic diseases, increasing utilization of refurbished medical equipment, and a growing demand for healthcare services. The region's robust regulatory environment and commitment to quality care contribute to the widespread adoption of third-party calibration. Meanwhile, Europe holds a substantial market share, driven by the presence of key industry players, advancements in healthcare technologies, higher healthcare expenditures per capita, and the growing number of third-party service providers. The increasing adoption of pre-owned medical equipment in the region also supports the demand for regular and precise calibration.

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Recent Developments:
• In January 2024, India's IIT Madras unveiled a mobile facility for calibrating medical devices. This recently opened institution is working to reduce transit times and costs associated with calibration in an effort to provide scalable, inexpensive, and high-quality healthcare.

Segmentation of Medical Equipment Third-Party Calibration Services Market-
By End-Use-
• Hospitals
o Electrical
o Radio Frequency (RF)
o Temperature
o Humidity
o Pressure
o Others
• Clinical Laboratories
• Others
By Region-
North America-
• The US
• Canada
• Mexico
Europe-
• Germany
• The UK
• France
• Italy
• Spain
• Rest of Europe
Asia-Pacific-
• China
• Japan
• India
• South Korea
• South East Asia
• Rest of Asia Pacific
Latin America-
• Brazil
• Argentina
• Rest of Latin America
Middle East & Africa-
• GCC Countries
• South Africa
• Rest of the Middle East and Africa

Read Overview Report- https://www.insightaceanalytic.com/report/medical-equipment-third-party-calibration-services-market/2842

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This release was published on openPR.