Medical Equipment Maintenance Market, By Equipment, By Service, By Application, By Country, and By Region - Industry Analysis, Market Size, Market Share & Forecast from 2023-2030
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 Equipment Maintenance Market- Market Dynamics
Increasing focus on reducing risk of contamination, calibration in medical treatment is to propel market demand
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.
Medical Equipment Maintenance Market- Key Insights
As per the analysis shared by our research analyst, the global market is estimated to grow annually at a CAGR of around 11.2% over the forecast period (2023-2030)
Based on Equipment segmentation, imaging equipment was predicted to show maximum market share in the year 2022, owing to high demand from X-ray, CT scan, MRI, and others.
Based on Service segmentation, corrective maintenance segment was the leading service in 2022, mainly due to high need for reducing device breakdown.
Based on Application segmentation, hospitals was the leading Application in 2022, mainly due to growing adoption of medical devices at hospitals.
On the basis of region, Asia Pacific was the leading revenue generator in 2022, owing to high need for medical maintenance service along with a rising population to be a key contributor for the growth.
Medical Equipment Maintenance Market- Segmentation Analysis:
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.
Medical Equipment Maintenance Market- Geographical Insights
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.
Medical Equipment Maintenance Market- Competitive Landscape:
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.
Recent Developments:
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.
SCOPE OF THE REPORT
The scope of this report covers the market by its major segments, which include as follows:
GLOBAL MEDICAL EQUIPMENT MAINTENANCE MARKET KEY PLAYERS
GE Healthcare
Siemens Healthineers
Koninklijke Philips N.V.
Stryker Corporation
Dragerwerk AG & Co. KGaA
Medtronic
B. Braun Melsungen AG
Aramark
BC Technical, Inc.
Alliance Medical Group
Canon Inc.
Althea Group
Advantus Health Partners
Others
GLOBAL MEDICAL EQUIPMENT MAINTENANCE MARKET, BY EQUIPMENT
Imaging equipment
Electromedical equipment
Endoscopic devices
Surgical instruments
Others
GLOBAL MEDICAL EQUIPMENT MAINTENANCE MARKET, BY SERVICE
Preventive maintenance
Corrective maintenance
Operational maintenance
GLOBAL MEDICAL EQUIPMENT MAINTENANCE MARKET, BY APPLICATION
Hospitals
Research Labs & Clinics
Others
GLOBAL MEDICAL EQUIPMENT MAINTENANCE MARKET, BY REGION
North America
The U.S.
Canada
Europe
Germany
France
Italy
Spain
United Kingdom
Russia
Netherlands
Sweden
Poland
Rest of Europe
Asia Pacific
India
China
South Korea
Japan
Australia
Thailand
Indonesia
Philippines
Rest of APAC
Latin America
Brazil
Mexico
Argentina
Colombia
Rest of LATAM
The Middle East and Africa
Saudi Arabia
United Arab Emirates
Israel
Turkey
Algeria
Egypt
Rest of MEA
Table of Contents
1. Medical Equipment Maintenance Market Overview
1.1. Study Scope
1.2. Market Estimation Years
2. Executive Summary
2.1. Market Snippet
2.1.1. Medical Equipment Maintenance Market Snippet by Equipment
2.1.2. Medical Equipment Maintenance Market Snippet by Service
2.1.3. Medical Equipment Maintenance Market Snippet by Application
2.1.4. Medical Equipment Maintenance Market Snippet by Country
2.1.5. Medical Equipment Maintenance Market Snippet by Region
2.2. Competitive Insights
3. Medical Equipment Maintenance Key Market Trends
3.1. Medical Equipment Maintenance Market Drivers
3.1.1. Impact Analysis of Market Drivers
3.2. Medical Equipment Maintenance Market Restraints
3.2.1. Impact Analysis of Market Restraints
3.3. Medical Equipment Maintenance Market Opportunities
3.4. Medical Equipment Maintenance Market Future Trends
4. Medical Equipment Maintenance Industry Study
4.1. PEST Analysis
4.2. Porter's Five Forces Analysis
4.3. Growth Prospect Mapping
4.4. Regulatory Framework Analysis
5. Medical Equipment Maintenance Market: COVID-19 Impact Analysis
5.1. Pre-COVID-19 Impact Analysis
5.2. Post-COVID-19 Impact Analysis
5.2.1. Top Performing Segments
5.2.2. Marginal Growth Segments
5.2.3. Top Looser Segments
5.2.4. Marginal Loss Segments
6. Medical Equipment Maintenance Market Landscape
6.1. Medical Equipment Maintenance Market Share Analysis, 2022
6.2. Breakdown Data, by Key Manufacturer
6.2.1. Established Players' Analysis
6.2.2. Emerging Players' Analysis
7. Medical Equipment Maintenance Market - By Equipment
7.1. Overview
7.1.1. Segment Share Analysis, By Equipment, 2022 & 2030 (%)
7.1.2. Imaging equipment
7.1.3. Electromedical equipment
7.1.4. Endoscopic devices
7.1.5. Surgical instruments
7.1.6. Others
8. Medical Equipment Maintenance Market - By Service
8.1. Overview
8.1.1. Segment Share Analysis, By Service, 2022 & 2030 (%)
8.1.2. Preventive maintenance
8.1.3. Corrective maintenance
8.1.4. Operational maintenance
9. Medical Equipment Maintenance Market - By Application
9.1. Overview
9.1.1. Segment Share Analysis, By Application, 2022 & 2030 (%)
9.1.2. Hospitals
9.1.3. Research Labs & Clinics
9.1.4. Others
10. Medical Equipment Maintenance Market- By Geography
10.1. Introduction
10.1.1. Segment Share Analysis, By Geography, 2022 & 2030 (%)
10.2. North America
10.2.1. Overview
10.2.2. Medical Equipment Maintenance Key Manufacturers in North America
10.2.3. North America Market Size and Forecast, By Country, 2018 - 2030 (US$ Million)
10.2.4. North America Market Size and Forecast, By Equipment, 2018 - 2030 (US$ Million)
10.2.5. North America Market Size and Forecast, By Service, 2018 - 2030 (US$ Million)
10.2.6. North America Market Size and Forecast, By Application, 2018 - 2030 (US$ Million)