Medical Equipment Maintenance Market Drivers, Restraints, Opportunities and Challenges

Medical equipment is used for the wellbeing of human lives and due to their high cost, they need to be maintained properly in order to achieve maximum use from the capital invested in these equipment’s. Medical equipment require calibration, maintenance, repair, user training, and decommissioning, and these activities are usually managed by clinical engineers. There is a broad category of medical equipment that can be reprocessed such as, medical imaging machines including ultrasound, magnetic resonance imaging (MRI), and medical monitors to analyze the medical state of the patient and life support system such as ventilators. The medical equipment maintenance involves planning, management and implementation of various parameters in order to achieve optimal functionality of equipment for a long span of time.

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On the basis of device type, the medical equipment maintenance industry is segmented into imaging equipment, endoscopic devices, surgical instruments, electromedical equipment, and other medical equipment. In 2016, the imaging equipment segment accounted for the largest share of the market. This growth is attributable to the high demand of maintenance services for imaging equipment, due to high replacement cost of such devices and the need for ensuring maximum operation of the equipment for a longer time.

On the basis of service type, the medical equipment maintenance market is segmented into corrective, preventive, and operational maintenance. Since all the maintenance types are important, it depends on the condition of the equipment, to assess the type of service it requires at a particular time. Preventive maintenance held the largest share of the global medical equipment maintenance market in 2016. The segment is expected to grow considerably in the forecast period (2017-2023), due to the growing technological advancements in medical devices and the need for their maintenance.

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In June 2017, Telematic & Biomedical Services SL (TBS ES), the Spanish subsidiary of TBS Group, was awarded the tender for the supply of maintenance services of all medical equipment (excluding diagnostic industry) of the Hospital de Santiago de Compostela for a total value of $1.36 million.

In July 2017, Pantheon Healthcare Group, provider of end-to-end managed equipment services and multi-vendor maintenance services to hospitals and diagnostic centres, completed the purchase of 95.4% share capital of TBS Group S.p.A. a provider of clinical engineering integrated solutions. This transaction was mainly aimed to strengthen the consolidation strategy of Pantheon Group.

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The other key players in the global medical equipment maintenance market are GE Healthcare, Agfa-Gevaert Group, Drägerwerk AG & Co. KGaA, B. Braun Melsungen AG, Koninklijke Philips N.V., Canon, Inc., Fujifilm Holdings Corporation, Aramark Corporation, Pantheon Healthcare Group and Hitachi Ltd.

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