Medical Equipment Repair & Maintenance Market by Device Type, Service Type, Service Provider, End-User

Description

List of Tables

[190 Pages Report] The Medical Equipment Repair & Maintenance Market size was estimated at USD 39.73 billion in 2023 and expected to reach USD 44.40 billion in 2024, at a CAGR 11.83% to reach USD 86.94 billion by 2030.

The medical equipment repair and maintenance market is a diverse sector providing essential services such as inspection, calibration, servicing, and maintenance for various medical devices used across healthcare settings. This market serves a wide range of applications, including diagnostic imaging equipment, surgical instruments, patient monitoring systems, endoscopy devices, electromedical equipment, and dental instruments. The increasing prevalence of chronic diseases requiring regular diagnostics and treatments and an aging global population demanding high-quality medical increasing demand for medical equipment. In addition, advanced healthcare infrastructure and strict regulations ensure patient safety through the proper functioning of medical equipment and increase the adoption of medical equipment. Furthermore, challenges hindering market growth include the lack of skilled technicians to handle advanced medical devices' specialized needs, high costs associated with complex equipment servicing, and competition from in-house service departments within large hospitals. Emerging markets present lucrative opportunities for expansion due to rising investments in advanced healthcare infrastructures and growing awareness among patients about quality healthcare services.

KEY MARKET STATISTICS
Base Year [2023]	USD 39.73 billion
Estimated Year [2024]	USD 44.40 billion
Forecast Year [2030]	USD 86.94 billion
CAGR (%)	11.83%

Device Type: Expanding usage of repair & maintenance devices for endoscopy devices

Compression devices are vital for treating various circulatory system disorders, such as deep vein thrombosis, lymphedema, and venous ulcers. These devices employ gradient compression technology to improve blood flow, reduce swelling, and alleviate pain. Dental equipment encompasses a wide range of tools used for diagnostic, preventive, restorative, and surgical purposes in dentistry. This segment includes dental chairs, handpieces, CAD/CAM systems, imaging devices (intraoral X-ray), and sterilization equipment. Imaging equipment is essential for diagnostic purposes, enabling healthcare professionals to visualize internal structures and functions non-invasively. This segment includes MRI, CT, ultrasound systems & digital X-ray machines. Life support devices are crucial for maintaining vital bodily functions in critically ill patients. These include ventilators, dialysis machines & extracorporeal membrane oxygenation (ECMO) systems. Nutritional delivery systems encompass devices used to provide essential nutrients to patients with compromised nutritional intake and absorption capabilities - including enteral feeding pumps and parenteral infusion systems. Patient monitoring devices help in tracking physiological parameters including blood pressure levels, heart rate variability, and glucose readings continuously over time thereby allowing for timely intervention and improved patient outcomes. Surgical instruments are essential tools used by healthcare professionals during various surgical procedures across diverse medical specialties. The comparative analysis between traditional manual instruments & modern robotic-assisted systems highlights a shift towards minimally invasive techniques that offer better precision, faster recovery times & reduced risk of complications for patients undergoing surgery.

Service Type: High preference for preventive maintenance devices to minimize downtime of medical devices

Corrective maintenance is a reactive service that addresses malfunctions and failures in medical equipment after they have occurred. It involves repairing and replacing parts to restore the device's functionality and ensure patient safety. Operational maintenance encompasses routine checks, inspections, calibration, cleaning, lubrication, and minor adjustments necessary for ensuring the smooth functioning of medical equipment during daily use. Preventive maintenance involves scheduled inspections, testing, and servicing of medical equipment to detect potential issues before they lead to failures and malfunctions. It extends the life of devices, minimizes downtime, improves patient safety, and reduces long-term repair costs.

Service Provider: Potential for original equipment manufacturers that offer standardized solutions

In-house maintenance involves healthcare organizations employing their own dedicated team of skilled technicians for equipment repair and maintenance. This approach provides greater control over equipment management while ensuring reduced downtime due to prompt rectification of issues. ISOs offer third-party repair and maintenance services on a contract basis without any affiliation with the original equipment manufacturers. They are preferred by healthcare providers who require expert services for multiple brands and types of medical devices at competitive prices. Multi-vendor OEMs are original equipment manufacturers that provide comprehensive repair and maintenance support across a wide range of devices from various brands. This option is suitable for healthcare providers seeking standardized solutions from trusted manufacturers while maintaining diverse medical technology portfolios. OEMs specialize in providing repair and maintenance services for their own products. Their in-depth knowledge of the equipment, expertise, and access to genuine parts make them a preferred choice for healthcare facilities that rely heavily on specific brands and technologies. Single-vendor OEMs focus solely on servicing their own range of products. This approach offers specialized support and ensures adherence to manufacturer specifications and standards.

End-User: Growing need of efficient maintenance and repair services across private healthcare organizations

Private-sector organizations, such as hospitals, clinics, diagnostic centers, and research labs, require timely and efficient maintenance and repair services to function their medical equipment properly. The need for high-quality service providers in this sector is propelled by the increasing demand for advanced healthcare services and growing competition among private players. Public-sector organizations like government hospitals, community health centers (CHCs), primary health centers (PHCs), sub-centers, and government laboratories have unique requirements for medical equipment repair and maintenance. These organizations often operate under budget constraints and strict regulatory guidelines, necessitating cost-effective and reliable service providers.

Regional Insights

In the United States and Canada, the increasing prevalence of chronic diseases are augmenting the demand for medical equipment repair and maintenance services. The rise in government initiatives to promote value-based care has also led to increased adoption of advanced technologies in healthcare facilities. European Union (EU) countries are witnessing an increasing reliance on advanced healthcare infrastructure due to a surge in non-communicable diseases. This has prompted significant investments in both public and private sectors toward upgrading medical equipment. The APAC region presents immense potential for growth in the medical equipment repair and maintenance market, driven primarily by China, Japan, and India. These countries are investing in healthcare infrastructure development and research initiatives to meet the rising demand for advanced medical services.

FPNV Positioning Matrix

The FPNV Positioning Matrix is pivotal in evaluating the Medical Equipment Repair & Maintenance Market. It offers a comprehensive assessment of vendors, examining key metrics related to Business Strategy and Product Satisfaction. This in-depth analysis empowers users to make well-informed decisions aligned with their requirements. Based on the evaluation, the vendors are then categorized into four distinct quadrants representing varying levels of success: Forefront (F), Pathfinder (P), Niche (N), or Vital (V).

Market Share Analysis

The Market Share Analysis is a comprehensive tool that provides an insightful and in-depth examination of the current state of vendors in the Medical Equipment Repair & Maintenance Market. By meticulously comparing and analyzing vendor contributions in terms of overall revenue, customer base, and other key metrics, we can offer companies a greater understanding of their performance and the challenges they face when competing for market share. Additionally, this analysis provides valuable insights into the competitive nature of the sector, including factors such as accumulation, fragmentation dominance, and amalgamation traits observed over the base year period studied. With this expanded level of detail, vendors can make more informed decisions and devise effective strategies to gain a competitive edge in the market.

Key Company Profiles

The report delves into recent significant developments in the Medical Equipment Repair & Maintenance Market, highlighting leading vendors and their innovative profiles. These include Abbott Laboratories, Advantage Biomedical Services, Agfa-Gevaert N.V., Agiliti Health, Inc., AlphaSource Group, Althea Group, Auxo Medical, LLC, Avante Health Solutions, B. Braun SE, Canon Inc., Carestream Health, Inc., Crothall Healthcare, CSK Group, Dragerwerk AG & Co. KGaA, FUJIFILM Holdings Corporation, GE Healthcare Technologies Inc., JTP Co., Ltd., KARL STORZ SE & Co. KG, Koninklijke Philips N.V., Konoike Transport Co., Ltd., Medecon Healthcare Ltd., Medtronic PLC, NES Group Medical, OKI Crosstech Co., Ltd., Olympus Corporation, Paragon Care Group Australia Pty Ltd., Qualitest Group, Repair Makers, Shimadzu Corporation, Siemens Healthineers AG, Stryker Corporation, Technofied Vision Pte Ltd., U-Tech Medical, and Zenith Sales & Calibrations Pty Ltd..

Market Segmentation & Coverage

This research report categorizes the Medical Equipment Repair & Maintenance Market to forecast the revenues and analyze trends in each of the following sub-markets:

Device Type
- Compression Devices
- Dental Equipment
- Electro-Medical Equipment
- Endoscopic Device
- Imaging Equipment
- Life Support Devices
- Nutritional Delivery
- Patient Monitoring
- Surgical Instrument

Service Type
- Corrective Maintenance
- Operational Maintenance
- Preventive Maintenance

Service Provider
- In-House Maintenance
- Independent Service Organizations
- Multi-Vendor OEMs
- Original Equipment Manufacturers
- Single-Vendor OEMs

End-User
- Private-Sector Organizations
- Public-Sector Organizations

Region
- Americas
  - Argentina
  - Brazil
  - Canada
  - Mexico
  - United States
    - California
    - Florida
    - Illinois
    - New York
    - Ohio
    - Pennsylvania
    - Texas
- Asia-Pacific
  - Australia
  - China
  - India
  - Indonesia
  - Japan
  - Malaysia
  - Philippines
  - Singapore
  - South Korea
  - Taiwan
  - Thailand
  - Vietnam

Europe, Middle East & Africa
- Denmark
- Egypt
- Finland
- France
- Germany
- Israel
- Italy
- Netherlands
- Nigeria
- Norway
- Poland
- Qatar
- Russia
- Saudi Arabia
- South Africa
- Spain
- Sweden
- Switzerland
- Turkey
- United Arab Emirates
- United Kingdom

The report offers valuable insights on the following aspects:

1. Market Penetration: It presents comprehensive information on the market provided by key players.

2. Market Development: It delves deep into lucrative emerging markets and analyzes the penetration across mature market segments.

3. Market Diversification: It provides detailed information on new product launches, untapped geographic regions, recent developments, and investments.

4. Competitive Assessment & Intelligence: It conducts an exhaustive assessment of market shares, strategies, products, certifications, regulatory approvals, patent landscape, and manufacturing capabilities of the leading players.

5. Product Development & Innovation: It offers intelligent insights on future technologies, R&D activities, and breakthrough product developments.

The report addresses key questions such as:

1. What is the market size and forecast of the Medical Equipment Repair & Maintenance Market?

2. Which products, segments, applications, and areas should one consider investing in over the forecast period in the Medical Equipment Repair & Maintenance Market?

3. What are the technology trends and regulatory frameworks in the Medical Equipment Repair & Maintenance Market?

4. What is the market share of the leading vendors in the Medical Equipment Repair & Maintenance Market?

5. Which modes and strategic moves are suitable for entering the Medical Equipment Repair & Maintenance Market?

Product Code: MRR-FB6C9E7930C0

1. Preface

1.1. Objectives of the Study
1.2. Market Segmentation & Coverage
1.3. Years Considered for the Study
1.4. Currency & Pricing
1.5. Language
1.6. Stakeholders

2. Research Methodology

2.1. Define: Research Objective
2.2. Determine: Research Design
2.3. Prepare: Research Instrument
2.4. Collect: Data Source
2.5. Analyze: Data Interpretation
2.6. Formulate: Data Verification
2.7. Publish: Research Report
2.8. Repeat: Report Update

3. Executive Summary

4. Market Overview

5. Market Insights

5.1. Market Dynamics
- 5.1.1. Drivers
  - 5.1.1.1. Need for Maintaining and Repairing the Critical Medical Equipments for Increasing Life-Threatening Diseases
  - 5.1.1.2. Rising Focus on Preventive Medical Equipment Maintenance
  - 5.1.1.3. Growing Preference on Refurbished Medical Equipment
- 5.1.2. Restraints
  - 5.1.2.1. High-Cost Associated with Medical Equipment Repair & Maintenance
- 5.1.3. Opportunities
  - 5.1.3.1. Growing Medical Tourism Coupled With Government Initiatives for the Modernization of Healthcare Infrastructure
  - 5.1.3.2. Increasing Integration of Advanced Technologies in Medical Equipment Maintenance & Repair Services
- 5.1.4. Challenges
  - 5.1.4.1. Risk and Safety Issues Associated with Medical Equipment Repair & Maintenance
5.2. Market Segmentation Analysis
- 5.2.1. Device Type: Expanding usage of repair & maintenance devices for endoscopy devices
- 5.2.2. Service Type: High preference for preventive maintenance devices to minimize downtime of medical devices
- 5.2.3. Service Provider: Potential for original equipment manufacturers that offer standardized solutions
- 5.2.4. End-User: Growing need of efficient maintenance and repair services across private healthcare organizations
5.3. Market Trend Analysis
5.4. Cumulative Impact of Russia-Ukraine Conflict
5.5. Cumulative Impact of High Inflation
5.6. Porter's Five Forces Analysis
- 5.6.1. Threat of New Entrants
- 5.6.2. Threat of Substitutes
- 5.6.3. Bargaining Power of Customers
- 5.6.4. Bargaining Power of Suppliers
- 5.6.5. Industry Rivalry
5.7. Value Chain & Critical Path Analysis
5.8. Regulatory Framework Analysis
5.9. Client Customization

6. Medical Equipment Repair & Maintenance Market, by Device Type

6.1. Introduction
6.2. Compression Devices
6.3. Dental Equipment
6.4. Electro-Medical Equipment
6.5. Endoscopic Device
6.6. Imaging Equipment
6.7. Life Support Devices
6.8. Nutritional Delivery
6.9. Patient Monitoring
6.10. Surgical Instrument

7. Medical Equipment Repair & Maintenance Market, by Service Type

7.1. Introduction
7.2. Corrective Maintenance
7.3. Operational Maintenance
7.4. Preventive Maintenance

8. Medical Equipment Repair & Maintenance Market, by Service Provider

8.1. Introduction
8.2. In-House Maintenance
8.3. Independent Service Organizations
8.4. Multi-Vendor OEMs
8.5. Original Equipment Manufacturers
8.6. Single-Vendor OEMs

9. Medical Equipment Repair & Maintenance Market, by End-User

9.1. Introduction
9.2. Private-Sector Organizations
9.3. Public-Sector Organizations

10. Americas Medical Equipment Repair & Maintenance Market

10.1. Introduction
10.2. Argentina
10.3. Brazil
10.4. Canada
10.5. Mexico
10.6. United States

11. Asia-Pacific Medical Equipment Repair & Maintenance Market

11.1. Introduction
11.2. Australia
11.3. China
11.4. India
11.5. Indonesia
11.6. Japan
11.7. Malaysia
11.8. Philippines
11.9. Singapore
11.10. South Korea
11.11. Taiwan
11.12. Thailand
11.13. Vietnam

12. Europe, Middle East & Africa Medical Equipment Repair & Maintenance Market

12.1. Introduction
12.2. Denmark
12.3. Egypt
12.4. Finland
12.5. France
12.6. Germany
12.7. Israel
12.8. Italy
12.9. Netherlands
12.10. Nigeria
12.11. Norway
12.12. Poland
12.13. Qatar
12.14. Russia
12.15. Saudi Arabia
12.16. South Africa
12.17. Spain
12.18. Sweden
12.19. Switzerland
12.20. Turkey
12.21. United Arab Emirates
12.22. United Kingdom

13. Competitive Landscape

13.1. Market Share Analysis, 2023
13.2. FPNV Positioning Matrix, 2023
13.3. Competitive Scenario Analysis
- 13.3.1. Althea and Medipass Merge and Rebrand as Ergea
- 13.3.2. How GE Healthcare's Advantus USD 760M Maintenance Deal Is Revolutionizing Medical Equipment Repair and Maintenance
- 13.3.3. The Importance of Medical Equipment Maintenance
- 13.3.4. Maull Biomedical Provides Injector Training to Althea Group UK BMETS
- 13.3.5. B. Braun Thailand Launches Technical Service Center
- 13.3.6. Aspect Launches New Capabilities for Connected Labs, and Announces Predictive Maintenance AI
- 13.3.7. Philips Expands Manufacturing and R&D Facilities in India
- 13.3.8. How Smart Hospitals are Revolutionizing Healthcare in Europe
- 13.3.9. How GE Healthcare Uses Azure IoT and Hololens 2 to Streamline Medical Equipment Maintenance
- 13.3.10. How General Electric and Circle Medical are Improving Medical Equipment Maintenance

14. Competitive Portfolio

14.1. Key Company Profiles
14.2. Key Product Portfolio