NEW YORK, December 7, 2022 /PRNewswire/ —
Medical Equipment Servicing Market Trends, Opportunities and Forecast to 2027 by Device Type (Imaging Equipment (Advanced Imaging Modalities and Primary Imaging Modalities), Endoscopic Device, Surgical Instruments, Electromedical Equipment and others), type of service (preventive maintenance, corrective maintenance, and operational maintenance), service provider (original equipment manufacturers (OEMs) (multi-vendor OEMs and single-vendor OEMs), independent service organizations (ISOs), and in-house maintenance ), end user (public sector organizations and private sector organizations) and region (North America, Europe, Asia Pacificand the rest of the world)
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Medical Equipment Maintenance Market Trends and Forecasts
The future of the medical equipment maintenance market looks bright with opportunities in both public and private hospitals. The global medical equipment maintenance market is expected to decline in 2020 owing to the global economic downturn caused by the COVID-19 outbreak. However, the market will see a recovery in 2021 and it is expected to reach an estimated level $53.4 billion by 2027 growing at a CAGR of 9.3% from 2022 to 2027. Key drivers for this market are growth in demand for medical equipment, rising focus on preventive maintenance, and wide acceptance of medical equipment renovated.
Emerging trends in the medical equipment maintenance market
Emerging trends, which have a direct impact on the dynamics of the industry, include the emergence of ISOs and the advancement of imaging equipment technologies.
Medical Equipment Maintenance Market by Segment
In this market, preventive maintenance is the largest service type market and imaging equipment is the largest device type segment.
The study includes Medical Equipment Maintenance market trends and forecasts by device type, service type, service provider, end-use and region as follows:
Medical Equipment Maintenance Market by Device Type [Value ($ Million) from 2016 – 2027]:
• Imaging equipment
o Advanced imaging modalities
o Primary imaging modalities
o Endoscopic device
• Surgical instruments
• Electromedical equipment
• Others
Medical Equipment Maintenance Market by Service Type [Value ($ Million) from 2016 – 2027]:
• Preventive maintenance
• Corrective maintenance
• Operational maintenance
Medical Equipment Maintenance Market by Service Provider [Value ($ Million) from 2016 – 2027]:
• Original Equipment Manufacturers (OEMs)
o Multi-vendor OEM
o Single-source OEM
• Independent Service Organizations (ISO)
• In-house maintenance
Medical Equipment Maintenance Market by End Use [Value ($ Million) from 2016 – 2027]:
• Private sector organizations
• Public sector organizations
Medical Equipment Maintenance Market by Region [Value ($ Million) from 2016 – 2027]:
• North America
oh United States
oh Canada
oh Mexico
• Europe
oh Germany
oh Italy
oh France
oh UK
oh Spain
• Asia Pacific
oh Japan
oh China
oh India
• The rest of the world
oh Brazil
List of medical equipment maintenance companies
The companies in the market compete on the basis of the quality of the products offered. The major players in this market are focusing on expanding their manufacturing facilities, R&D investments, infrastructure development and leveraging integration opportunities along the value chain. Through these strategies, medical equipment maintenance companies meet growing demand, ensure competitive efficiency, develop innovative products and technologies, reduce production costs and expand their customer base. Some of the Medical Equipment Maintenance Companies profiled in this report include-
• GE Healthcare
• Siemens Healthineers
• Koninklijke Philips
• stryker
• cannon
• fujifilm
• Hitachi
• Shimadzu
• Alliance Medical Group
• Althea Group
Overview of the medical equipment maintenance market
• The analyst predicts that the preventive maintenance segment will remain the largest service type market during the forecast period, as regular maintenance services ensure safe, efficient and long-lasting use of medical devices.
• Within this market, imaging equipment maintenance services are expected to experience the highest growth over the forecast period owing to high replacement costs and the need to ensure maximum equipment uptime.
• North America will remain the largest region during the forecast period owing to high adoption of advanced technologies, well-established healthcare infrastructure and growing medical device market in this region.
Characteristics of the medical equipment maintenance market
• Market Size Estimates: Estimated market size for medical equipment maintenance in terms of value ($M) of shipments.
• Trends and forecast analysis: market trends (2016-2021) and forecasts (2022-2027) by various segments and regions.
• Segmentation Analysis: Medical Equipment Maintenance market size by different segments, such as device type, service type, service provider and end use.
• Regional Analysis: Medical Equipment Maintenance Market Split By North America, Europe, Asia Pacificand the Rest of the World.
• Growth Opportunities: Analysis of growth opportunities in different device types, service types, service providers, end uses, and regions for the medical equipment maintenance market.
• Strategic analysis: This includes mergers and acquisitions and the competitive landscape for the maintenance of medical equipment.
• Industry Competitive Intensity Analysis Based on Porter’s Five Forces Model
FAQs
Q1. What is the size of the medical equipment maintenance market?
Answer: The global medical equipment maintenance market is expected to reach an estimated level $53.4 billion by 2027.
Q2. What is the growth forecast for the medical equipment maintenance market?
Answer: The medical equipment maintenance market is expected to grow at a CAGR of 9.3% from 2022 to 2027.
Q3. What are the key drivers influencing the growth of the medical equipment maintenance market?
Answer: The main drivers of this market are growing demand for medical equipment, increasing attention to preventive maintenance, and wide acceptance of refurbished medical equipment.
Q4. What are the major end uses of the medical equipment maintenance market?
Answer: Private and public sector organizations are the primary end-use industries for servicing medical equipment.
Q5. What are the emerging trends in the medical equipment maintenance market?
Answer: Emerging trends, which have a direct impact on industry dynamics, include the emergence of ISOs and the advancement of imaging equipment technologies.
Q6. What are the main medical equipment maintenance companies?
Answer: Some of the major medical equipment maintenance companies are:
• GE Healthcare
• Siemens Healthineers
• Koninklijke Philips
• stryker
• cannon
• fujifilm
• Hitachi
• Shimadzu
• Alliance Medical Group
• Althea Group
Q7.
What will be the most important service type segment of the medical equipment maintenance market in the future?
Answer: The analyst predicts that preventive maintenance will remain the largest service type segment during the forecast period, as this maintenance service ensures safe, efficient and sustainable use of medical devices.
Q8: In the medical equipment maintenance market, which region is expected to be the most important in the next five years?
Answer: North America expected to be the largest region in the next five years.
Q9. Are we getting personalization in this report?
Answer: Yes, the analyst provides 10% customization at no additional cost.
This report answers the following 11 key questions
Q.1 What are some of the most promising potential growth opportunities for the medical equipment servicing market by device type (imaging equipment (advanced imaging modalities and primary imaging modalities), endoscopic device, surgical instruments, medical electrical equipment, and others), service type (preventive maintenance, corrective maintenance, and operational maintenance), service provider (original equipment manufacturers (OEMs) (multi-vendor OEMs and single-vendor OEMs), independent service organizations ( ISO) and internal maintenance), end user (public sector organizations and private sector organizations) and region (North America, Europe, Asia Pacificand the rest of the world)?
Q.2 Which segments will experience faster growth and why?
Q.3 Which regions will experience faster growth and why?
Q.4 What are the major factors affecting market dynamics? What are the drivers and challenges of the medical equipment maintenance market?
Q.5 What are the business risks and threats in the Medical Equipment Maintenance market?
Q.6 What are the emerging trends in the medical equipment maintenance market and the reasons behind them?
Q.7 What are the changing customer demands in the medical equipment maintenance market?
Q.8 What is new in the medical equipment maintenance market? Which companies are leading these developments?
Q.9 Who are the main players in the medical equipment maintenance market? What strategic initiatives are being implemented by key players for business growth?
Q.10 What are some of the competing products and processes in the medical equipment maintenance market, and what threat do they pose for loss of market share through material or product substitution?
Q.11 What M&A activities have taken place in the last five years in the medical equipment maintenance market?
For any query related to Medical Equipment Maintenance market or Medical Equipment Maintenance market share, Medical Equipment Maintenance market analysis and Medical Equipment Maintenance market size, write to Lucintel analysts at [email protected]. We will be happy to answer you soon.
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