The global medical equipment maintenance market is expected to witness a CAGR of 9% over the forecast period. The market is primarily driven by an increase in the adoption of preventive maintenance to enhance the lifetime of medical equipment in healthcare settings. Furthermore, rapid technological advancements in medical equipment and increased need for continuous training and maintenance are stimulating the market growth. Also, rising purchase of refurbished medical equipment to reduce the capital costs in hospitals and other healthcare settings is anticipated to fuel the growth of the market. Moreover, the innovations in the service sector such as providing services through IoT devices and remote guidance are increasing the demand for the medical equipment maintenance. However, the high cost of medical equipment maintenance and lack of skilled professionals is expected to hamper the market growth. Besides, the stringent regulatory policies in many countries around the globe has mandated the medical equipment maintenance as a compulsory requirement for end-users.

Key Market Trends

Imaging Equipment Maintenance Expected to Have Significant Share

Imaging equipment has evolved in rapid phase with technological advancements and increasing investments by healthcare providers for betterment of patient health. Due to the significant number of diagnostic tests performed at the healthcare facilities and the growing prevalence of chronic diseases is projected to boost the demand for imaging equipment maintenance segment. Furthermore, various initiatives are taken by the government and non-government organization in the preventive maintenance of the medical equipment. This is likely to boost the growth of preventive medical equipment maintenance segment over the forecast period.

Furthermore, an increasing number of hospitals worldwide to match the growing prevalence of chronic diseases coupled with increasing adoption of annual maintenance policies by the healthcare providers is anticipated to boost the overall medical equipment maintenance market.

Moreover, increase in cardiovascular diseases and cancer prevalence are the major factors that are contributing to the increased use of sophisticated equipment which need continuous maintenance.

North America Expected to have Significant Market Share

North America region is anticipated to have significant market share owing to well-established healthcare infrastructure, ageing population and quality healthcare accessibility. Furthermore, well-established reimbursement policies that encourage the healthcare providers to maintain the quality infrastructure is expected to fuel the market growth. Also, United States is the largest medical device market in the world. Moreover, advancements in medical device technologies its adoption expected to boost the regional share. Asia Pacific region is anticipated to have notable growth rate owing to developing healthcare infrastructure, a large number of patient pool and rapid development in the technologies to address the health needs of patients in the region.

Competitive Landscape

Global medical equipment maintenance market is fragmented with the presence of original equipment manufacturers and third-party service providers. Market players are focusing on simplifying the service access and regional expansions to increase their market share. The key market players operating in the market include Siemens AG, Koninklijke Philips N.V., Stryker Corporation, Canon Inc. and GE Healthcare.

Reasons to Purchase this report:

  • The market estimate (ME) sheet in Excel format
  • Report customization as per the client’s requirements
  • 3 months of analyst support