Medical Equipment Maintenance Market by Product (Imaging (MRI, CT, PET-CT, ultrasound, X-ray), Endoscopes, Lasers, Ventilators, Dialysis, Monitors), Provider (OEM, ISO, In-house), Service (Preventive, Operational), User (Hospital, ASCs) – Forecast to 2026

2021-10-07
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Published : Oct-2021
No. of Pages : 320
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“Growing number of Long Term service contracts to drive the growth of the medical equipment maintenance market.”

The medical equipment maintenance market is projected to reach USD 74.2 billion by 2026 from USD 45.2 billion in 2021, at a CAGR of 10.4% during the forecast period. The growth of this market is mainly driven by the growth in the associated equipment markets, rising focus on preventive medical equipment maintenance, adoption of innovative funding mechanisms, and the increasing purchase of refurbished medical systems.

“In terms of service provider, segment to register significant growth during the forecast period.”

Based on the service provider, the medical equipment maintenance market is segmented multi-vendor OEMs, single-vendor OEMs, ISOs, and in-house maintenance.  OEMs provide a wide range of services, such as corrective maintenance, operational maintenance, planned maintenance, and extended warranty, along with insurance maintenance programs. Thus rising demand for multi-vendor OEMs services have led to the growth of multi-vendor OEMs segment.

“In terms service type, preventive maintenance segment to register significant growth during the forecast period.”

Based on the service type, the medical equipment maintenance market is segmented into corrective, preventive, and operational maintenance. The Preventive maintenance segment accounted for a larger share of in the market in 2020. Preventive maintenance is carried out for life support devices, equipment used for diagnosis and treatment, and devices that significantly impact the safety of patients (such as defibrillators, ECG machines, pulse oximeters, infusion pumps, and electrosurgical units). Preventive maintenance is critical for equipment present in radiology departments due to mandatory certifications and regulations, as well as the high cost of equipment. Benefits of preventive maintenance to support the growth of this segment

“Diagnostic imaging equipment segment is expected to account for the largest share of the medical equipment maintenance market, by the device type”           `

On the basis of device type, the medical equipment maintenance market has been segmented into diagnostic imaging equipment, patient monitoring & life support devices, endoscopic devices, surgical equipment, ophthalmology equipment, medical lasers, electrosurgical equipment, radiotherapy devices, dental equipment, laboratory equipment, and durable medical equipment. Based on modality, this market segment is divided into CT scanners, MRI systems, X-ray systems, ultrasound systems, angiography systems, nuclear imaging equipment (PET/SPECT), mammography systems, and fluoroscopy systems. There is a significant demand for related maintenance services to avoid any possibility of equipment breakdown/downtime. This market is primarily driven by the increasing number of diagnostic imaging procedures across the globe. A rise in the prevalence of chronic diseases is also expected to propel the use of advanced imaging equipment and subsequently drive the demand for associated maintenance services.

“Germany market is expected to grow at the highest CAGR during the forecast period.”

The German market is estimated to grow at the highest CAGR during the forecast period majorly due to growth of service providers and favourable investments scenario and evolving healthcare infrastructure in country

A breakdown of the primary participants referred to for this report is provided below:

  • By Company Type: Tier 1–48%, Tier 2–36%, and Tier 3– 16%
  • By Designation: C-level–10%, Director-level–14%, and Others–76%
  • By Region: North America–40%, Europe–32%, Asia Pacific–20%, Latin America–5%, and the Middle East & Africa–3%

Some of the prominent players in the  Medical Equipment Maintenance market include GE Healthcare (US), Siemens Healthineers (Germany), Koninklijke Philips N.V. (Netherlands), Medtronic plc (Ireland), and FUJIFILM Holdings Corporation (Japan), Canon, Inc. (Toshiba Medical System Corporation, Japan), Agfa-Gevaert Group (Belgium), Carestream Health, Inc. (US), Drägerwerk AG & Co. KGaA (Germany), Hitachi Medical Corporation (Japan), Althea Group (Italy), Olympus Corporation (Japan), B. Braun Melsungen AG (Germany), KARL STORZ GmbH & Co. KG (Germany), and Aramark Services, Inc. (US) among others.

Research Coverage

This report studies the Medical Equipment Maintenance market based on service type, service provider, device type, end users and countries. It also covers the factors affecting market growth, analyzes the various opportunities and challenges in the market, and provides details of the competitive landscape for market leaders. Furthermore, the report analyzes micromarkets with respect to their individual growth trends and forecasts the revenue of the market segments with respect to five main regions (and the respective countries in these regions).

Reasons to Buy the Report

The report will enable established firms as well as entrants/smaller firms to gauge the pulse of the market, which, in turn, would help them to garner a larger market share. Firms purchasing the report could use one or a combination of the below-mentioned strategies for strengthening their market presence.

This report provides insights on the following pointers:

  • Market Penetration:Comprehensive information on the service portfolios offered by the top players in the Medical Equipment Maintenance  market
  • Product Development/Innovation:Detailed insights on the upcoming trends, R&D activities, and service launches in the Medical Equipment Maintenance  market
  • Market Development:Comprehensive information on lucrative emerging regions
  • Market Diversification:Exhaustive information about new products, growing geographies, and recent developments in the Medical Equipment Maintenance  market
  • Competitive Assessment: In-depth assessment of market segments, growth strategies, revenue analysis, and services of the leading market players.
Filed in: Medical Device
Publisher : marketsandmarkets
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