Luton, Bedfordshire, United Kingdom, Dec. 17, 2024 (GLOBE NEWSWIRE) -- Ensuring widespread access to diagnostics, preventative, assistive, and therapeutic services relies heavily on the availability and upkeep of medical devices. Regular maintenance and calibration of medical equipment are critical to ensuring its efficiency and accuracy. Planned Preventive Maintenance (PPM), a strategy designed to extend the lifespan of equipment and prevent failure, plays a central role in this regard.
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Medical equipment maintenance is vital to safeguarding the functionality of devices and ensuring operational accuracy. Given the high costs and complexity of healthcare equipment, proper maintenance is necessary to ensure its continued performance and compliance with regulatory standards. Additionally, this process is essential for device calibration and minimizing the risk of contamination, ensuring the safety and reliability of healthcare treatments.
Several factors are driving the growth of the global medical equipment maintenance market. These include the growing patient population, the increased focus on early diagnosis, and the surge in diagnostic imaging procedures. The expanding number of original equipment manufacturers (OEMs) and strategic collaborations between service providers and healthcare institutions also contribute to the market's expansion. The implementation of innovative financing strategies worldwide has further bolstered market growth. As healthcare expenditures rise, along with the growing preference for reconditioned medical equipment, the demand for reliable maintenance services continues to surge.
Additionally, government initiatives, in collaboration with third-party medical service providers, have improved access to maintenance services, particularly in emerging economies. The increased focus on preventative maintenance, coupled with advancements in healthcare infrastructure, has further propelled market growth. Rising disposable incomes and the increasing incidence of age-related health issues have also contributed to the increasing demand for medical equipment maintenance.
However, the market faces challenges, including high initial and ongoing maintenance costs, which can strain budgets. The shortage of skilled technicians and biomedical engineers, coupled with compliance concerns related to the new Medical Device Regulation (MDR) requirements, presents significant barriers to market growth. These factors, along with the potential for budget constraints due to excessive spending, may slow the industry's expansion.
The COVID-19 pandemic disrupted global supply chains, halting production processes and diverting resources toward responding to the crisis. This disruption significantly impacted the medical equipment maintenance market. The closure of facilities and labor shortages hindered the maintenance of critical devices such as ventilators, while transportation limitations created further challenges. Despite these setbacks, the medical equipment maintenance market demonstrated resilience by ensuring the proper functioning of essential devices during the pandemic.
Key Players:
- GE Healthcare
- Siemens Healthineers
- Koninklijke Philips N.V.
- Medtronic plc
- Canon, Inc.
- Agfa-Gevaert Group
- Carestream Health, Inc.
- Drägerwerk AG & Co. KGaA
- Hitachi Medical Corporation
- Althea Group
- Olympus Corporation
- Fujifilm Holdings Corporation
- Hologic, Inc.
- Esaote SpA
- Samsung Medison
- Varian Medical Systems
- United Imaging Healthcare
- Mindray Medical International Limited
- Planmed Oy
- Ziehm Imaging
Recent Developments:
- October 2023: GE Healthcare and relink Medical announced a collaboration to deliver asset management solutions aimed at helping healthcare providers minimize medical device waste, increase operational efficiency, and maximize equipment utilization.
- May 2023: Siemens Healthiness and Common Spirit Health acquired Block Imaging, aiming to offer more sustainable options and meet the growing demand from U.S. hospitals, health systems, and other care sites for multi-vendor imaging parts and services.
- November 2024: The Medical Equipment Repair & Maintenance Market grew from USD 39.73 billion in 2023 to USD 44.40 billion in 2024, with a projected CAGR of 11.83%, reaching USD 86.94 billion by 2030.
- November 2024: The global medical equipment maintenance market size was valued at USD 41.90 billion in 2023 and is expected to grow at a CAGR of 10.0% from 2024 to 2030, driven by increasing demand for medical devices and rising prevalence of life-threatening disorders requiring diagnosis.
- November 2024: The global medical equipment maintenance market was valued at USD 40.25 billion in 2023 and is estimated to reach USD 73.37 billion by 2032, growing at a CAGR of 6.91% during the forecast period (2024–2032), with a rise in demand for refurbished medical equipment contributing to market growth.
- November 2024: Innovations in predictive maintenance powered by artificial intelligence are enabling healthcare facilities to optimize equipment management and reduce downtime, highlighting the importance of equipment reliability in the medical equipment maintenance market.
Regional Analysis of the Medical Equipment Maintenance Market
North America holds a dominant position in the global medical equipment maintenance market, driven by the increasing demand for advanced medical devices and the rising prevalence of chronic diseases. The region's well-established healthcare infrastructure and high levels of healthcare spending contribute significantly to this market leadership. Additionally, the increasing adoption of sophisticated diagnostic and therapeutic equipment, combined with a strong focus on preventive care, is further propelling the demand for maintenance services in the region.
Following North America, the Asia Pacific region is witnessing robust growth in the medical equipment maintenance market, driven by significant advancements in healthcare infrastructure, particularly in countries like China, Japan, and India. The rapid expansion of healthcare facilities, coupled with rising healthcare spending, has created a burgeoning demand for regular maintenance of medical devices to ensure operational efficiency and patient safety. Moreover, an aging population and an increase in the incidence of chronic diseases are contributing to the growing demand for medical equipment maintenance services across this region.
Europe is another key region in the global medical equipment maintenance market, with a growing emphasis on healthcare innovation, patient safety, and regulatory compliance. The region's strong healthcare infrastructure and government initiatives focused on improving the quality of healthcare services are driving the demand for maintenance services. The market in Europe is further supported by the rise in preventative maintenance programs, especially as healthcare providers increasingly seek to optimize the performance and longevity of their medical equipment.
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Growth Drivers of the Medical Equipment Maintenance Market
The medical equipment maintenance market is experiencing substantial growth, driven by several key factors. One of the primary drivers is the increasing purchase of refurbished and reconditioned medical systems, which is helping healthcare facilities expand their capabilities while managing costs. As hospitals and clinics aim to optimize their equipment budgets, the demand for high-quality refurbished medical devices such as X-ray units, ultrasound machines, ventilators, and electrocardiographs continues to rise. This trend is expected to contribute significantly to the growth of the medical equipment maintenance market.
The rising prevalence of chronic and lifestyle-related diseases globally is another major growth factor. As the number of diagnostic procedures increases, there is a greater need for reliable and efficient medical equipment, driving the demand for regular maintenance and calibration. The healthcare industry, particularly in developed regions such as North America, is experiencing heightened demand for medical equipment maintenance services due to the growing number of diagnostic tests and medical treatments being conducted.
Investments in medical devices, especially in areas such as X-ray units, centrifuges, syringe pumps, and ventilators, are also propelling market growth. Healthcare providers are increasingly relying on advanced technology for accurate diagnostics and effective treatments, necessitating regular maintenance to ensure equipment remains in optimal working condition. Maintenance efforts are focused on reducing downtime, improving device performance, and ensuring safety, which ultimately leads to cost savings and improved patient care.
Another contributing factor is the adoption of automation and digital technologies in medical equipment maintenance. Automated maintenance systems and predictive analytics are enhancing productivity while reducing operational costs. These technologies allow healthcare facilities to anticipate equipment failures, schedule timely maintenance, and optimize the lifespan of medical devices, all of which help in minimizing disruptions to healthcare services.
Furthermore, leading players in the medical equipment maintenance market are continuously introducing new services and solutions to cater to the evolving needs of healthcare providers. By offering comprehensive maintenance contracts, on-demand repairs, and preventive care packages, these companies are positioning themselves to meet the increasing demand for reliable medical equipment maintenance.
Medical Equipment Maintenance Market Segmentations:
By Device Type
- Diagnostic Imaging Equipment
- Electrosurgical Equipment
- Endoscopic Devices
- Surgical Equipment
- Medical Lasers
- Ophthalmology Equipment
By Service Type
- Preventive
- Corrective
- Operational
By Technology
- OEM
- ISO
- In-House
By End Users
- Hospital
- ASCS
- Diagnostic Imaging Centers
- Dialysis Center
By Region
- North America
- Europe
- Asia Pacific
- South America
- Middle East And Africa
This report is also available in the following languages: Japanese (医療機器メンテナンス市場), Korea (의료기기 유지보수 시장), china (医疗设备维修市场), French (Marché de la maintenance des équipements médicaux), German (Markt für die Wartung medizinischer Geräte), and Italy (Mercato della manutenzione delle apparecchiature mediche), etc.
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