by According to the Precedence Research, The medical equipment maintenance market size garnered US$ 46 billion in 2021 and is expected to generate US$ 65 billion by 2030, manifesting a CAGR of 10.5% from 2021 to 2030. The report contains 150+ pages with detailed analysis.
The base year for the study has been considered 2021, the historic year 2019 and 2020, the forecast period considered is from 2021 to 2030. The medical equipment maintenance market is analyzed on the basis of value (US$ Million), volume (Unit), and price (US$/Unit).
The rapid growth of themedical equipment maintenance market is owing to increase in healthcare expenses and increase in advanced medical equipment. The increase in patient population, rising number of diagnostic centers, presence of large numbers of OEMs, and technological advancement in the equipment are the major factors for the growth of the medical equipment maintenance market.
Moreover, medical equipment maintenance is majorly used in the covid-19 pandemic. The pandemic has led to rise in demand for the medical devices such as ventilators. The wide usage of the ventilators in the pandemic has increased the demand for medical equipment maintenance. This is a major factor that boosts the growth of the global medical equipment maintenance market.
The market has gain a major traction as preventive and corrective maintenance are gaining prominence as planned inspections, and medical device maintenance helps to reduce the incidents and related accidents. The medical equipment maintenance medical equipment maintenance is expected to change the way the hospitals and clinics operate by introducing innovative methods for the maintenance.
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Key Companies & Market Share Insights
The market is moderately fragmented with the presence of several local companies. These market players are striving to gain higher market share by adopting strategies, such as investments, partnerships, and acquisitions & mergers, novel product introductions and developments, promotion strategies and Research and Development (R&D) activities in the marketplace. Companies are also spending on the development of improved products. Moreover, they are also focusing on maintaining competitive pricing. The competitive profiling of these players includes business and financial overview, gross margin, production, sales, and recent developments which can aid in assessing competition in the market.
Some of the major players in the global medical equipment maintenance market include:
- GE Healthcare
- Siemens Healthineers
- Koninklijke Philips N.V.
- Drägerwerk AG & Co. KGaA
- Medtronic
- B. Braun Melsungen AG
- Aramark
- BC Technical, Inc.
- Alliance Medical Group
- Althea Group
Medical Equipment Maintenance Market Scope
This market report studies market dynamics, status and outlook especially in North America, Europe and Asia-Pacific, Latin America, the Middle East and Africa. This research report offers scenario and forecast (revenue/volume), and categorizes the market by key players and various segment. This report also studies global market prominence, competitive landscape, market share, growth rates market dynamics such as drivers, restraints and opportunities, and distributors and sales channels.
This research study also integrates Industry Chain analysis and Porter’s Five Forces Analysis. Further, this report offers a competitive scenario that comprises collaborations, market concentration rate and expansions, mergers & acquisitions undertaken by companies.
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North America dominated the market in 2020. This is attributed to the presence of strong base of healthcare facilities and growing installation base for advanced medical technologies in healthcare facilities in the countries like US and Canada. The presence of high number of health care companies along with the various contract manufacturing organizations and contract research organizations is benefiting the market in this region.
The Asia Pacific is expected to be the most opportunistic market during the forecast period. The rising government expenditure to develop strong healthcare infrastructure and government policies to attract FDIs is expected to play a significant role in the growth of the medical equipment maintenance market in the region. The rising number of hospital admissions will foster the demand for medical equipment maintenance in the Asia Pacific region and will lead to the growth of the market during the forecast period.
The rising awareness regarding preventive maintenance of medical devices and increasing funding in innovative devices are the factors that led to the market in the coming years. Moreover, the increasing awareness of the safety of devices, advanced in the area of healthcare devices are the driving factors for the growth of the market.
The high costs associated with the maintenance of the devices may hamper the growth of the market. Further, the lack of adequate infrastructure and capital in the underdeveloped and developing nations may hamper the market growth during the forecast period.
The introduction of the latest technologies such as artificial intelligence and machine learning may provide growth prospects to the market players in the upcoming future, and drive the market growth.
Based on the equipment, the imaging equipment segment is the leading and the fastest-growing segment. This can be attributed to the rise in diagnostic procedures and increasing heart diseases are driving the segment.
Based on the service, the corrective maintenance segment dominated the market. It includes replacement or restoration of the devices or components of the devices to reinstate the physical integrity after an unexpected failure.
In March 2021, iFixit is an American e-commerce and how-to website which sells repair part launched a massive repair database for ventilators and other devices in order to help hospitals and clinics during the Covid-19 pandemic.
Medical Equipment Maintenance Market Segments Covered
By Equipment
- Imaging Equipment
- Electromedical Equipment
- Endoscopic Devices
- Surgical Instruments
- Other
By Service
- Preventive Maintenance
- Corrective Maintenance
- Operational Maintenance
By Geography
- North America
- U.S.
- Canada
- Europe
- U.K.
- Germany
- France
- Asia Pacific
- China
- India
- Japan
- South Korea
- Rest of the World
Research Objective
- To provide a comprehensive analysis of the medical equipment maintenance industry and its sub-segments in the global market, thereby providing a detailed structure of the industry
- To provide detailed insights into factors driving and restraining the growth of this global market
- To provide a distribution chain analysis/value chain for this market
- To estimate the market size of the global medical equipment maintenance market where 2019 would be the historical period, 2020 shall be the base year, and 2020 to 2027 will be the forecast period for the study
- To provide strategic profiling of key companies (manufacturers and distributors) present across the globe, and comprehensively analyze their competitiveness/competitive landscape in this market
- To analyze the global market in four main geographies, namely, North America, Europe, Asia-Pacific, and the Rest of the World
- To provide country-wise market value analysis for various segments of the medical equipment maintenance
TABLE OF CONTENT
Chapter 1. Introduction
1.1. Research Objective
1.2. Scope of the Study
1.3. Definition
Chapter 2. Research Methodology
2.1. Research Approach
2.2. Data Sources
2.3. Assumptions & Limitations
Chapter 3. Executive Summary
3.1. Market Snapshot
Chapter 4. Market Variables and Scope
4.1. Introduction
4.2. Market Classification and Scope
4.3. Industry Value Chain Analysis
4.3.1. Raw Material Procurement Analysis
4.3.2. Sales and Distribution Channel Analysis
4.3.3. Downstream Buyer Analysis
Chapter 5. COVID 19 Impact on Medical Equipment Maintenance Market
5.1. COVID-19 Landscape: Medical Equipment Maintenance Industry Impact
5.2. COVID 19 – Impact Assessment for the Industry
5.3. COVID 19 Impact: Global Major Government Policy
5.4. Market Trends and Opportunities in the COVID-19 Landscape
Chapter 6. Market Dynamics Analysis and Trends
6.1. Market Dynamics
6.1.1. Market Drivers
6.1.2. Market Restraints
6.1.3. Market Opportunities
6.2. Porter’s Five Forces Analysis
6.2.1. Bargaining power of suppliers
6.2.2. Bargaining power of buyers
6.2.3. Threat of substitute
6.2.4. Threat of new entrants
6.2.5. Degree of competition
Chapter 7. Competitive Landscape
7.1.1. Company Market Share/Positioning Analysis
7.1.2. Key Strategies Adopted by Players
7.1.3. Vendor Landscape
7.1.3.1. List of Suppliers
7.1.3.2. List of Buyers
Chapter 8. Global Medical Equipment Maintenance Market, By Equipment
8.1. Medical Equipment Maintenance Market, by Equipment Type, 2021-2030
8.1.1. Imaging Equipment
8.1.1.1. Market Revenue and Forecast (2019-2030)
8.1.2. Electromedical Equipment
8.1.2.1. Market Revenue and Forecast (2019-2030)
8.1.3. Endoscopic Devices
8.1.3.1. Market Revenue and Forecast (2019-2030)
8.1.4. Surgical Instruments
8.1.4.1. Market Revenue and Forecast (2019-2030)
8.1.5. Others
8.1.5.1. Market Revenue and Forecast (2019-2030)
Chapter 9. Global Medical Equipment Maintenance Market, By Service
9.1. Medical Equipment Maintenance Market, by Service, 2021-2030
9.1.1. Preventive Maintenance
9.1.1.1. Market Revenue and Forecast (2019-2030)
9.1.2. Corrective Maintenance
9.1.2.1. Market Revenue and Forecast (2019-2030)
9.1.3. Operational Maintenance
9.1.3.1. Market Revenue and Forecast (2019-2030)
Chapter 10. Global Medical Equipment Maintenance Market, Regional Estimates and Trend Forecast
10.1. North America
10.1.1. Market Revenue and Forecast, by Equipment (2019-2030)
10.1.2. Market Revenue and Forecast, by Service (2019-2030)
10.1.3. U.S.
10.1.3.1. Market Revenue and Forecast, by Equipment (2019-2030)
10.1.3.2. Market Revenue and Forecast, by Service (2019-2030)
10.1.4. Rest of North America
10.1.4.1. Market Revenue and Forecast, by Equipment (2019-2030)
10.1.4.2. Market Revenue and Forecast, by Service (2019-2030)
10.2. Europe
10.2.1. Market Revenue and Forecast, by Equipment (2019-2030)
10.2.2. Market Revenue and Forecast, by Service (2019-2030)
10.2.3. UK
10.2.3.1. Market Revenue and Forecast, by Equipment (2019-2030)
10.2.3.2. Market Revenue and Forecast, by Service (2019-2030)
10.2.4. Germany
10.2.4.1. Market Revenue and Forecast, by Equipment (2019-2030)
10.2.4.2. Market Revenue and Forecast, by Service (2019-2030)
10.2.5. France
10.2.5.1. Market Revenue and Forecast, by Equipment (2019-2030)
10.2.5.2. Market Revenue and Forecast, by Service (2019-2030)
10.2.6. Rest of Europe
10.2.6.1. Market Revenue and Forecast, by Equipment (2019-2030)
10.2.6.2. Market Revenue and Forecast, by Service (2019-2030)
10.3. APAC
10.3.1. Market Revenue and Forecast, by Equipment (2019-2030)
10.3.2. Market Revenue and Forecast, by Service (2019-2030)
10.3.3. India
10.3.3.1. Market Revenue and Forecast, by Equipment (2019-2030)
10.3.3.2. Market Revenue and Forecast, by Service (2019-2030)
10.3.4. China
10.3.4.1. Market Revenue and Forecast, by Equipment (2019-2030)
10.3.4.2. Market Revenue and Forecast, by Service (2019-2030)
10.3.5. Japan
10.3.5.1. Market Revenue and Forecast, by Equipment (2019-2030)
10.3.5.2. Market Revenue and Forecast, by Service (2019-2030)
10.3.6. Rest of APAC
10.3.6.1. Market Revenue and Forecast, by Equipment (2019-2030)
10.3.6.2. Market Revenue and Forecast, by Service (2019-2030)
10.4. MEA
10.4.1. Market Revenue and Forecast, by Equipment (2019-2030)
10.4.2. Market Revenue and Forecast, by Service (2019-2030)
10.4.3. GCC
10.4.3.1. Market Revenue and Forecast, by Equipment (2019-2030)
10.4.3.2. Market Revenue and Forecast, by Service (2019-2030)
10.4.4. North Africa
10.4.4.1. Market Revenue and Forecast, by Equipment (2019-2030)
10.4.4.2. Market Revenue and Forecast, by Service (2019-2030)
10.4.5. South Africa
10.4.5.1. Market Revenue and Forecast, by Equipment (2019-2030)
10.4.5.2. Market Revenue and Forecast, by Service (2019-2030)
10.4.6. Rest of MEA
10.4.6.1. Market Revenue and Forecast, by Equipment (2019-2030)
10.4.6.2. Market Revenue and Forecast, by Service (2019-2030)
10.5. Latin America
10.5.1. Market Revenue and Forecast, by Equipment (2019-2030)
10.5.2. Market Revenue and Forecast, by Service (2019-2030)
10.5.3. Brazil
10.5.3.1. Market Revenue and Forecast, by Equipment (2019-2030)
10.5.3.2. Market Revenue and Forecast, by Service (2019-2030)
10.5.4. Rest of LATAM
10.5.4.1. Market Revenue and Forecast, by Equipment (2019-2030)
10.5.4.2. Market Revenue and Forecast, by Service (2019-2030)
Chapter 11. Company Profiles
11.1. GE Healthcare
11.1.1. Company Overview
11.1.2. Product Offerings
11.1.3. Financial Performance
11.1.4. Recent Initiatives
11.2. Siemens Healthineers
11.2.1. Company Overview
11.2.2. Product Offerings
11.2.3. Financial Performance
11.2.4. Recent Initiatives
11.3. Koninklijke Philips N.V.
11.3.1. Company Overview
11.3.2. Product Offerings
11.3.3. Financial Performance
11.3.4. Recent Initiatives
11.4. Drägerwerk AG & Co. KGaA
11.4.1. Company Overview
11.4.2. Product Offerings
11.4.3. Financial Performance
11.4.4. Recent Initiatives
11.5. Medtronic
11.5.1. Company Overview
11.5.2. Product Offerings
11.5.3. Financial Performance
11.5.4. Recent Initiatives
11.6. B. Braun Melsungen AG
11.6.1. Company Overview
11.6.2. Product Offerings
11.6.3. Financial Performance
11.6.4. Recent Initiatives
11.7. Aramark
11.7.1. Company Overview
11.7.2. Product Offerings
11.7.3. Financial Performance
11.7.4. Recent Initiatives
11.8. BC Technical, Inc.
11.8.1. Company Overview
11.8.2. Product Offerings
11.8.3. Financial Performance
11.8.4. Recent Initiatives
11.9. Alliance Medical Group
11.9.1. Company Overview
11.9.2. Product Offerings
11.9.3. Financial Performance
11.9.4. Recent Initiatives
11.10. Althea Group
11.10.1. Company Overview
11.10.2. Product Offerings
11.10.3. Financial Performance
11.10.4. Recent Initiatives
Chapter 12. Research Methodology
12.1. Primary Research
12.2. Secondary Research
12.3. Assumptions
Chapter 13. Appendix
13.1. About Us
13.2. Glossary of Terms
Thanks for reading you can also get individual chapter-wise sections or region-wise report versions such as North America, Europe, or the Asia Pacific.
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