The global medical equipment maintenance market size is expected to reach USD 61.7 billion by 2027, according to a new report by Grand View Research, Inc. It is expected to expand at a CAGR of 7.9% from 2021 to 2027. Rising focus on preventive device maintenance, adoption of advanced funding mechanisms, growth of the associated devices markets, and increasing market share of refurbished medical devices are anticipated to drive the market over the forecast period.
In
addition, a surge in the need for technologically advanced medical equipment
and an increase in healthcare expenses are expected to propel the market
growth. The maintenance of medical devices is a very essential procedure owing
to the high use of devices in critical health matters. For instance,
calibration is a vital procedure for any medical device to maintain and improve
its precision and accuracy, thereby preventing any safety hazards.
Furthermore,
the increasing prevalence of chronic diseases that require long-term patient
care, coupled with a rapidly growing geriatric population, is anticipated to
boost the market growth. Diseases such as pressure ulcers, diabetic foot, and
cancer, which require long-term patient care, are expected to drive the market.
Growing
demand and purchase of refurbished medical devices are other vital impacting
factors that may propel the medical device maintenance market in the coming
years. Additionally, the rising installation of technologically advanced
medical devices in hospitals, diagnostic centers, and clinics is expected to
drive the market over the forecast period. However, the higher maintenance cost
is expected to restrain market growth.
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Medical Equipment
Maintenance Market Report Highlights
- Based on
equipment, the imaging equipment segment dominated the market with a share
of 35.8% in 2020 owing to increasing consumption of the devices in the
industry. The surgical instruments segment is anticipated to register the
highest CAGR over the forecast period owing to an increase in the global
surgical procedures
- By service,
the corrective maintenance segment dominated the market owing to the
rising demand for these services as healthcare systems are installing
refurbished devices on a large scale in the industry
- The
preventive maintenance service segment is expected to expand at the
highest CAGR of 8.7% over the forecast period as planned inspections shall
be increased. Such initiatives by regulatory authorities help limit
adverse incidents and medical device-related accidents
- North America
dominated the market in 2020 with 38.4% of share due to the advanced
healthcare infrastructure, higher healthcare spending, and increasing
prevalence of chronic conditions within the region
- Asia Pacific
is anticipated to register the highest CAGR over the forecast period owing
to the increasing healthcare facilities and growing medical tourism in
the region
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Medical Equipment
Maintenance Market Segmentation
Grand View Research has
segmented the global medical equipment maintenance market based on equipment,
service, and region:
Medical Equipment
Maintenance Equipment Outlook (Revenue, USD Million, 2016 - 2027)
- Imaging Equipment
- CT
- MRI
- Digital X-Ray
- Ultrasound
- Others
- Life Support Devices
- Dental Equipment
- Electromedical Equipment
- Endoscopic Devices
- Surgical Instruments
- Other Medical Equipment
Medical Equipment
Maintenance Service Outlook (Revenue, USD Million, 2016 - 2027)
- Preventive Maintenance
- Corrective Maintenance
- Operational Maintenance
Medical Equipment
Maintenance Regional Outlook (Revenue, USD Million, 2016 - 2027)
- North America
- U.S.
- Canada
- Europe
- U.K.
- Germany
- France
- Italy
- Spain
- Asia Pacific
- India
- China
- Japan
- Australia
- South Korea
- Latin America
- Brazil
- Mexico
- Argentina
- Middle East & Africa
- South Africa
- Saudi Arabia
- UAE
List of Key
Players of Medical Equipment Maintenance Market
- GE Healthcare
- Siemens Healthineers
- Koninklijke Philips N.V.
- Drägerwerk AG & Co. KGaA
- Medtronic
- B. Braun Melsungen AG
- Aramark
- BC Technical, Inc.
- Alliance Medical Group
- Althea Group
About Grand View Research
Grand
View Research, Inc. is a U.S. based market research and consulting company,
registered in the State of California and headquartered in San Francisco. The
company provides syndicated research reports, customized research reports, and
consulting services. To help clients make informed business decisions, we offer
market intelligence studies ensuring relevant and fact-based research across a
range of industries, from technology to chemicals, materials and healthcare.
For more info visit @ https://www.grandviewresearch.com
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