Chicago, Sept. 29, 2023 (GLOBE NEWSWIRE) -- In the near future, the medical equipment maintenance industry is poised for a profound transformation driven by advanced technologies and evolving healthcare needs. With the rapid proliferation of sophisticated medical devices, including robotic surgical systems, AI-driven diagnostic tools, and cutting-edge imaging equipment, the demand for specialized maintenance and repair services will surge. Predictive maintenance powered by artificial intelligence and the Internet of Things (IoT) will become the norm, allowing healthcare facilities to proactively address equipment issues before they impact patient care. Moreover, the industry will witness a shift towards more sustainable practices, emphasizing eco-friendly disposal and refurbishment, in line with global sustainability goals. In this dynamic landscape, skilled technicians and engineers will play a pivotal role in ensuring the reliability and safety of medical equipment, ultimately contributing to the advancement of healthcare worldwide.
Medical Equipment Maintenance market in terms of revenue was estimated to be worth $48.8 billion in 2023 and is poised to reach $80.7 billion by 2028, growing at a CAGR of 10.6% from 2023 to 2028 according to a latest report published by MarketsandMarkets™. The growth of the market is largely driven by the global rise in the growing focus on the quality of food products, pollution control, environmental testing, and increase in crude and shale gas production. Furthermore, the increasing spending on pharmaceutical R&D across the globe is anticipated to further propel market growth.
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Medical Equipment Maintenance Market Scope:
| Report Coverage | Details |
| Market Revenue in 2023 | $48.8 billion |
| Estimated Value by 2028 | $80.7 billion |
| Growth Rate | Poised to grow at a CAGR of 10.6% |
| Market Size Available for | 2021–2028 |
| Forecast Period | 2023–2028 |
| Forecast Units | Value (USD Billion) |
| Report Coverage | Revenue Forecast, Competitive Landscape, Growth Factors, and Trends |
| Segments Covered | Device Type, Service Type, Service Provider, End User, Contract Type, and Region |
| Geographies Covered | North America, Europe, Asia Pacific, Latin America, and the Middle East & Africa |
| Report Highlights | Updated financial information / product portfolio of players |
| Key Market Opportunities | Innovation in service offerings and use of IoT |
| Key Market Drivers | Rise in focus on preventive maintenance of medical equipment |
Medical Equipment Maintenance market major players covered in the report, such as:
- GE Healthcare Technologies Inc. (US)
- Siemens Healthineers (Germany)
- Koninklijke Philips N.V. (Netherlands)
- Medtronic plc (Ireland)
- FUJIFILM Holdings Corporation (Japan)
- Olympus Corporation (Japan)
- Canon, Inc. (Toshiba Medical Systems Corporation, Japan)
- Drägerwerk AG & Co. KGaA (Germany)
- Hitachi Ltd. (Japan)
- B. Braun Melsungen AG (Germany)
- and Among Others
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This report has segmented the global medical equipment maintenance market based on device type, service type, service provider, end user, contract type, and region.
Global Medical Equipment Maintenance Market, by Device Type
- Diagnostic Imaging Equipment
- CT Scanners
- MRI Systems
- Ultrasound Systems
- X-Ray Systems
- Mammography Systems
- Angiography Systems
- Fluoroscopy Systems
- Nuclear Imaging Equipment (PET/SPECT)
- Electrosurgical Equipment
- Endoscopic Devices
- Surgical Equipment
- Medical Lasers
- Opthalmology Equipment
- Patient Monitoring & Life Support Devices
- Ventilators
- Anesthesia Monitoring Equipment
- Infusion Pumps
- Dialysis Equipment
- Other Life-Supported Devices & Patient Monitoring Devices
- Dental Equipment
- Dental Radiology Equipment
- Dental Laser Devices
- Other Dental Equipment
- Laboratory Equipment
- Durable Medical Equipment
- Radiotherapy Devices
Global Medical Equipment Maintenance Market, by Service Type
- Preventive Maintenance
- Corrective Maintenance
- Operational Maintenance
Global Medical Equipment Maintenance Market, by Service Provider
- Multi-Vendor OEMs
- Single-Vendor OEMs
- Independent Service Organization
- In-House Maintenance
Global Medical Equipment Maintenance Market, by End-user
- Hospitals
- Diagnostic Imaging Centers
- Dialysis Centers
- Ambulatory Surgical Centers
- Dental Clinics & Speciality Clinics
- Other End Users
Global Medical Equipment Maintenance Market, by Contract Type
- Basic Contract
- Premium Contract
- Customized Contract
- Add-On Contract
Global Medical Equipment Maintenance Market, by region
- North America
- US
- Canada
- Europe
- Germany
- France
- UK
- Italy
- Spain
- Rest of Europe
- Asia Pacific
- Japan
- China
- India
- Australia
- South Korea
- Rest of Asia Pacific
- Latin America
- Brazil
- Mexico
- Rest of Latin America
- Middle East & Africa
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The key stakeholders in the Medical Equipment Maintenance market include:
- Original equipment manufacturers
- Independent service providers
- Independent service organizations
- Product distributors and channel partners
- Hospitals and surgical centers
- Dental hospitals, laboratories, and clinics
- Dental academic and research institutes
- Ambulatory care centers and physician-operated laboratories
- Contract manufacturers and third-party suppliers
- Research laboratories and academic institutes
- Clinical research organizations
- Contract manufacturing organizations
- Government and non-governmental regulatory authorities
- Venture capitalists and investors
- Trade associations and industry bodies
- Insurance companies
- Market research and consulting firms
Recent Developments:
- In May 2023, Siemens Healthineers (Germany) established its new Education and Development Center (EDC) in Erlangen, which would offer medical device training courses for customers and in-house specialists.
- In March 2023, GE Healthcare Technologies Inc. (US) partnered with Advantus Health Partners (US) in a 10-year agreement to provide the company’s Healthcare Technology Management (HTM) services to the clients of Advantus Health Partners.
- In March 2021, the acquisition of the Diagnostic Imaging-related Business of Hitachi, Ltd. (Japan) was completed by FUJIFILM Corporation (Japan) to support R&D, manufacturing, marketing, and maintenance services for diagnostic imaging systems (CT, MRI, X-ray, ultrasound systems, and others), electronic medical records, and other medical-related products and services.
Frequently Asked Questions (FAQs) of Medical Equipment Maintenance Market:
Question 1: What is the expected addressable market value of the global medical equipment maintenance market over a 5-year period?
Answer: The global medical equipment maintenance market is projected to reach USD 80.7 billion by 2028 from USD 48.8 billion in 2023, growing at a CAGR of 10.6% during the forecast period.
Question 2: Which segment on the basis of device type, is expected to garner the highest traction within the medical equipment maintenance market?
Answer: Based on the device type, the diagnostic imaging equipment segment held the largest share of the medical equipment maintenance market in 2022. The cost-effectiveness of services is supporting its market growth.
Question 3: What are some of the strategies adopted by the top market players to penetrate emerging regions?
Answer: The major players in the market use partnerships, expansion, acquisitions, and collaborations as important growth tactics.
Question 4: What are the major factors expected to limit the growth of the medical equipment maintenance market?
Answer: The complex regulatory frameworks that delay the approval of service providers for medical equipment maintenance are also expected to challenge market growth to a certain extent.
Question 5: Are there any challenges that medical equipment maintenance manufacturers are facing?
Answer: The dearth of skilled technicians and biomedical engineers can be one of the challenges that may be affecting the manufacturing of medical equipment maintenance.
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Report Objectives:
- To define, describe, and forecast the medical equipment maintenance market on the basis of device type, service type, service provider, end user, contract type, and region.
- To provide detailed information regarding the major factors influencing the growth potential of the global medical equipment maintenance market (drivers, restraints, opportunities, challenges, and trends).
- To analyze the micro markets with respect to individual growth trends, future prospects, and contributions to the global medical equipment maintenance market.
- To analyze key growth opportunities in the global medical equipment maintenance market for key stakeholders and provide details of the competitive landscape for market leaders.
- To forecast the size of market segments and/or subsegments with respect to five major regions, namely, North America (US and Canada), Europe (Germany, France, the UK, Italy, Spain, and the RoE), Asia Pacific (Japan, China, India, Australia, South Korea, ASEAN region and the RoAPAC), and rest of the world.
- To profile the key players in the global medical equipment maintenance market and comprehensively analyze their market shares and core competencies.
- To track and analyze the competitive developments undertaken in the global medical equipment maintenance market, such as agreements, expansions, and & acquisitions.
Related Reports:
Patient Monitoring Devices Market
European Medical Equipment Maintenance Market
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