Fort Collins, Colorado, May 14, 2024 (GLOBE NEWSWIRE) --
Maintenance of medical equipment has become a norm in the medical industry.
The medical equipment maintenance market is propelled by two significant factors: the expanding installed base of medical equipment and the aging of existing devices. With healthcare facilities continuously developing and investing in new medical technologies, there is a heightened need for regular maintenance and repair services. The World Health Organization (WHO) forecasts the global medical device market to reach USD 603.5 billion by 2023, indicating a substantial installed base requiring ongoing maintenance. Furthermore, as medical equipment ages, it becomes increasingly susceptible to malfunctions and breakdowns, necessitating frequent servicing to uphold optimal performance and ensure patient safety.
Another crucial driver for the market's growth is the imposition of stringent regulatory requirements and quality standards governing medical equipment maintenance. Regulatory bodies such as the U.S. Food and Drug Administration (FDA) and the European Medicines Agency (EMA) have established comprehensive guidelines and regulations to govern the maintenance and servicing of medical devices, ensuring their safety, efficacy, and reliability. For instance, the FDA's Quality System Regulation (QSR) mandates that medical device manufacturers establish and maintain a quality system inclusive of equipment maintenance and repair provisions. Non-compliance with these regulations can lead to penalties, product recalls, and damage to reputation, compelling healthcare facilities to prioritize medical equipment maintenance and engage with qualified service providers.
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Segmentation Overview:
The medical equipment maintenance market has been segmented into type of equipment, service type, end-user, and region.
Hospitals are the leading end-user segment in the forecast period.
- Hospitals are primary healthcare facilities that house a wide range of medical equipment, including imaging systems, surgical instruments, and life support devices. These devices require regular maintenance to ensure optimal performance and patient safety.
Imaging equipment will lead the equipment type in the forecast period.
- Imaging equipment, such as magnetic resonance imaging (MRI) machines, computed tomography (CT) scanners, X-ray machines, and ultrasound systems are critical for accurate diagnosis and treatment planning. These devices are widely used across various medical specialties and are essential for the early detection and management of numerous diseases.
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Medical Equipment Maintenance Market Report Highlights:
- The medical equipment maintenance market growth is anticipated at a CAGR of 10.2% by 2032.
- The upcoming trends in the Medical Equipment Maintenance market include the increasing adoption of predictive maintenance strategies, the growing use of IoT and AI technologies for remote monitoring and diagnostics, and the rising demand for multi-vendor service contracts.
- North America currently dominates the Medical Equipment Maintenance market, driven by its well-established healthcare infrastructure, stringent regulatory requirements, and large installed base of advanced medical equipment.
- Some prominent players in the medical equipment maintenance market report include GE Healthcare, Siemens Healthineers, Koninklijke Philips N.V., Canon Medical Systems Corporation, Drägerwerk AG & Co. KGaA, Hitachi, Ltd., Althea Group, Agility Health, Inc., BC Technical, Inc., Agenor Mantenimientos, S.A., Crothall Healthcare, and Sodexo.
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