PUBLISHER: AnalystView Market Insights | PRODUCT CODE: 1419093
PUBLISHER: AnalystView Market Insights | PRODUCT CODE: 1419093
Medical Equipment Maintenance Market size was valued at USD 47,540.5 Million in 2022, expanding at a CAGR of 11.2% from 2023 to 2030.
Medical equipment's are intricate, costly, and sophisticated, maintaining them is a vital responsibility. Medical device maintenance keeps the equipment error-free and functioning correctly. Technical expertise and technology adoption is required for carrying out maintenance process,
Medical devices are essential for lowering calibration mistakes and contamination risks, which is anticipated to fuel market expansion. Furthermore, it is anticipated that in the upcoming years, there will be an increased need for technological proficiency in remote device monitoring and maintenance. It is therefore expected that the industry's strategic choices will be influenced by this growing trend of monitoring. Moreover, increased medical device approvals and the expanding uptake of new technologies in developing nations are also expected to drive medical device sales, which will raise the need for maintenance. Higher spending on remote patient monitoring equipment is observed because of the aging population. Additionally, the need for more maintenance on these devices is anticipated to increase throughout the course of the projection period, boosting market revenue.
The Global Medical Equipment Maintenance Market is segmented on the basis of Equipment, Service, Application, and Region.
The market is divided into five categories based on Equipment: imaging equipment, electromedical equipment, endoscopic devices, surgical instruments, and others. The imaging equipment segment dominates the market. The ultrasound, X-ray, CT, image scans are likely to contribute to market growth.
The market is divided into three categories based on Service: preventive maintenance, corrective maintenance, and operational maintenance. The corrective maintenance segment dominates the market and is likely to maintain its dominance during the forecast period. The increasing demand for restoring or replacing existing system is expected to boost the segment growth.
The market is divided into three categories based on Application: hospitals, research labs & clinics, and others. The hospitals dominate the market and is likely to maintain its dominance during the forecast period. The growing demand for equipment maintenance at hospital is boosting the market growth.
Geographically, this market is widespread into the regions of North America, Latin America, Europe, Asia Pacific, and the Middle East and Africa. These regions are further divided as per the nations bringing business.
The leading companies concentrate on joint ventures, product enhancements, and cooperative efforts to obtain a substantial market share and a competitive advantage over their rivals Further, companies are looking into partnerships as a critical strategy or tactic to grow their market share and survive in the heavily competitive market. For example, Philips and Kliniken der Stadt Koln entered into two long-term collaboration agreements for supply, upgrading, replacement, and maintenance.
In March 2023, Advantus Health Partners inked a 10-year contract with GE HealthCare to offer GE HealthCare's Healthcare Technology Management services to Advantus Health Partners.
In March 2023, Althea UK merged with Medipass Healthcare to be rebranded as Ergea.
The scope of this report covers the market by its major segments, which include as follows: