Press Release: April 22, 2020
Global Medical Equipment Maintenance Market was valued US$ 28.2 Bn in 2017 and is expected to reach US$ 60.92 Bn by 2026, at a CAGR of 10.11 % during a forecast period.
The medical equipment maintenance market is segmented into device type, service type, service provider, end-user, and region.
In terms of device type, medical equipment maintenance market is segmented into imaging equipment, advanced modalities, primary modalities, endoscopic devices, surgical instruments, electro medical equipment, and other medical equipment. Based on service type segment, medical equipment maintenance market is classified into preventive maintenance, corrective maintenance, and operational maintenance. Further service provider, medical equipment maintenance market is divided into original equipment manufacturers, independent service organizations, and in-house maintenance. In terms of end-user, medical equipment maintenance market is classified into public-sector organizations, and private-sector organizations.
Based on regions, the global medical equipment maintenance market is divided into five main regions are North America, Europe, Asia-pacific, Latin America and Middle East & Africa.
Global Medical Equipment Maintenance Market
On the basis of device type, the imaging equipment segment is expected to account for the largest share of the global market due to the high demand for maintenance services for imaging equipment, high replacement cost and the need for ensuring maximum equipment uptime.
By service type, preventive maintenance is expected to account for the largest share of the global market owing to the technological advancements in medical devices and the consequent need for their preventive maintenance are expected to fuel market growth in preventive maintenance segment.
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On the basis of the end user, the public-sector organization's segment is expected to account for the largest share of the global market. The dominance of public healthcare in most of the counties and the increase in value-based procurement of medical equipment are the major factors driving the growth of public-sector organizations end-user segment.
The major driving factors of medical equipment maintenance market are growth in associated instrumentation markets, rising specialise in preventive medical instrumentation maintenance, adoption of innovative funding mechanisms, increasing preference for purchase of refurbished medical equipment, rising investments of key companies to build healthcare infrastructure, technological advancements for complex equipment maintenance, increasing number of public-private partnerships.
High initial cost & significant maintenance expenditure and lack of skilled professionals are hindering the growth of the market. However, reducing profit margins on servicing costs are hampering the growth of the medical imaging equipment services market during the forecast period.
Innovation in service offerings and use of IOT emergence of ISOS is the crucial opportunity of the global medical equipment maintenance market.
The key challenge of the global medical equipment maintenance market is survival of players in a highly fragmented and competitive market.
Geographically, Asia-Pacific is predicted to garner the fastest growth in the market during the forecast period, owing to the growing medical device industry in the region, greater emphasis on repair and maintenance of the equipment than a new purchase, and increasing prevalence of diseases requiring medical equipment for diagnosis and treatment.
The key market players of the global medical equipment maintenance market are Carestream Health, AGFA-Gevaert Group, Dragerwerk AG & Co. KGaA, Canon Inc., Medtronic, Hitachi Ltd, Olympus Corporation, Althea Group, Siemens AG, B. Braun Melsungen AG, Karl Storz GmbH & CO. KG, Fujifilm Holdings Corporation, Shimadzu Corporation, Alpha Source Inc., Samsung Medison Co. Ltd, HOYA Corporation, Medipass Healthcare Limited, Grupo Empresarial Electromdico, Aramark, GE Healthcare, and Koninklijke Philips N.V.
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Scope of Global Medical Equipment Maintenance Market:
Global Medical Equipment Maintenance Market, by Device Type:
• Imaging Equipment
• Advanced Modalities
• Primary Modalities
• Endoscopic Devices
• Surgical Instruments
• Electro medical Equipment
• Other Medical Equipment
Global Medical Equipment Maintenance Market, by Service Type:
• Preventive Maintenance
• Corrective Maintenance
• Operational Maintenance
Global Medical Equipment Maintenance Market, by Service Provider:
• Original Equipment Manufacturers
• Independent Service Organizations
• In-house Maintenance
Global Medical Equipment Maintenance Market, by End-User:
• Public-sector Organizations
• Private-sector Organizations
Global Medical Equipment Maintenance Market, by Region:
• North America
• Middle East & Africa
• Asia Pacific
• Latin America
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Key player’s operating in Global Medical Equipment Maintenance Market:
• Carestream Health
• AGFA-Gevaert Group
• Dragerwerk AG & Co. KGaA
• Canon Inc.
• Hitachi Ltd
• Olympus Corporation
• Althea Group
• Siemens AG
• B. Braun Melsungen AG
• Karl Storz GmbH & CO. KG
• Fujifilm Holdings Corporation
• Shimadzu Corporation
• Alpha Source Inc.
• Samsung Medison Co. Ltd
• HOYA Corporation
• Medipass Healthcare Limited
• Grupo Empresarial Electromdico
• GE Healthcare
• Koninklijke Philips N.V.
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