Medical Equipment Maintenance Market size to grow by USD 39.29 billion from 2022-2027, North America to account for 36% of market growth - Technavio
NEW YORK, Jan. 8, 2024 /PRNewswire/ -- How is the Medical Equipment Maintenance Market expected to grow in the next five years?
The medical equipment maintenance market size is expected to grow by USD 39.29 billion from 2022 to 2027. In addition, the growth of the market will progress at a CAGR of 12.01% during the forecast period, according to Technavio Research.
How is the Medical Equipment Maintenance Market Segmented?
The market is segmented by Type (Healthcare systems, Pharmaceutical diagnostics, and Others), End-user (Public sector organizations and Private sector organizations), and Geography (North America, Europe, Asia, and Rest of World (ROW)).
Which region is expected to significantly contribute to the Medical Equipment Maintenance Market?
North America is anticipated to contribute 36% of the growth of the global market during the forecast period. The region benefits from a growing geriatric population and holds a competitive advantage in industries crucial to the medical devices sector. The collaboration between medical equipment maintenance companies and organizations in these industries generally results in advancements like neuro-stimulators, biomarkers, and robotic assistance devices. This report offers an up-to-date analysis of the current market scenario, the latest trends and drivers, and the overall market environment. Read a FREE PDF Sample Report
Who are the key players in the Medical Equipment Maintenance Market?
Agfa Gevaert NV, AlphaSource Group, Althea Group S.p.A., Aramark, B Braun Melsungen AG, Boston Scientific Corp., Canon Inc., Carestream Health Inc., Dragerwerk AG and Co. KGaA, Edwards Lifesciences Corp., FUJIFILM Corp., General Electric Co., Hitachi Ltd., HOYA Corp., Koninklijke Philips NV, Medtronic Plc, Samsung Electronics Co. Ltd., Siemens AG, Stryker Corp., Terumo Group
Agfa Gevaert NV: The company offers medical equipment maintenance services through Agfa Service Maintenance
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The healthcare systems segment is significant during the forecast period. Capital equipment, instruments, and accessories used for diagnosing, monitoring, and treating different diseases are a part of this segment. Learn about the contribution of each segment summarized in concise infographics and thorough descriptions. View a FREE PDF Sample Report
"Besides analyzing the current market scenario, our report examines historic data from 2017 to 2021"- Technavio
Medical Equipment Maintenance Market: Driver & Trend:
What are the main growth drivers for the Medical Equipment Maintenance Market?
The Medical Equipment Maintenance Market experiences significant growth due to increased demand from low-budget healthcare facilities. This rise impacts Equipment Servicing, Medical Device Maintenance, and Healthcare Technology Management. Emphasis on Preventive Maintenance and Clinical Engineering Services drives Medical Equipment Repair and Calibration Services. Implementing robust Asset Management Systems aids in Equipment Inspection and Hospital Equipment Maintenance, meeting the need for reliable Diagnostic Equipment Services in such healthcare settings.
What is the market trend for the Medical Equipment Maintenance Market?
Continual expansion into emerging countries remains a prevalent trend driving the Medical Equipment Maintenance Market. This penetration impacts various sectors like Biomedical Equipment and Regulatory Compliance. It emphasizes Medical Equipment Training and Healthcare Facility Maintenance Services, extending to Point-of-Care Device Maintenance and Endoscope Maintenance. Additionally, it focuses on Telemedicine Equipment Service and Biomedical Test Equipment, while also catering to Medical Imaging Maintenance and Maintenance Contracts, boosting growth in these regions.
What are some of the challenges faced by the Medical Equipment Maintenance Market?
Intense competition among key players and healthcare equipment manufacturers is a challenge impacting the growth of the Medical Equipment Maintenance Market. This competition influences vital aspects like Equipment Downtime Reduction and Equipment Upgrades while emphasizing Patient Safety Measures. Addressing this challenge involves strategies such as Remote Equipment Monitoring and Medical Equipment Lifecycle Management. Additionally, it focuses on Sterilization Equipment Service, Emergency Equipment Maintenance, Surgical Equipment Maintenance, and Radiology Equipment Service, aiming to navigate this competitive landscape and ensure uninterrupted healthcare services.
Increasing market penetration in emerging countries is a key trend in the market. Identify key trends, drivers, and challenges in the market. Download a FREE sample report to gain access to this information.
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What are the key data covered in this medical equipment maintenance market report?
- CAGR of the market during the forecast period
- Detailed information on factors that will drive the growth of the medical equipment maintenance market between 2022 and 2027.
- Precise estimation of the medical equipment maintenance market size and its contribution to the market in focus on the parent market
- Accurate predictions about upcoming trends and changes in consumer behavior
- Growth of the medical equipment maintenance market across North America, Europe, Asia, and ROW
- A thorough analysis of the market's competitive landscape and detailed information about vendors
- Comprehensive analysis of factors that will challenge the growth of medical equipment maintenance market vendors.
ToC:
Executive Summary
Market Landscape
Market Sizing
Historic Market Sizes
Five Forces Analysis
Market Segmentation by Type
Market Segmentation by End-user
Market Segmentation by Geography
Customer Landscape
Geographic Landscape
Drivers, Challenges, & Trends
Company Landscape
Company Analysis
Appendix
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SOURCE Technavio
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