The medical equipment maintenance market to grow from USD 28.97 billion in 2018 to USD 47.49 billion by 2023, at a Compound Annual Growth Rate (CAGR) of 10.4% during the forecast period.
Growth Boosting Factors:
The major factors that are expected to be driving the medical equipment repair market are rising focus on preventive medical equipment maintenance, growth in associated equipment markets, adoption of innovative funding mechanisms, and the increasing purchase of refurbished medical equipment.
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By service provider, the original equipment manufacturers (OEMs) segment to dominate during the forecast period
The original equipment manufacturers (OEMs) segment is expected to dominate the market. The large share of the OEMs segment can primarily be attributed to the wide geographic presence and strong technical expertise of OEMs.
By device type, the imaging equipment segment to witness the highest growth during the forecast period (2018–2023).
Based on device type, the medical equipment repair market is further segmented into imaging equipment, endoscopic devices, surgical instruments, electromedical equipment, and other medical equipment. The imaging equipment segment is expected to grow at the highest CAGR during the forecast period. The high growth of this market segment is attributed to the high demand for maintenance services for imaging equipment, due to high replacement costs and the need for ensuring maximum equipment uptime.
North America to account for the largest market size during the forecast period.
North America is expected to hold the largest market size in medical equipment repair market during the forecast period, followed by the European region. Factors such as the growing aging population and rising incidence of lifestyle-related diseases, access to quality healthcare, well-established healthcare infrastructure, high adoption of advanced technology, and the presence of prominent players are driving the North American medical devices industry in this region. This will significantly boost the growth of the market for associated maintenance services in the region. Additionally, the availability of funding to purchase advanced medical technologies—through investments and similar initiatives—for hospitals and healthcare providers is also expected to aid market growth.
Asia is the third-largest market for medical equipment repair market and is slated to register the highest CAGR of during the forecast period. Factors contributing to this growth include increasing patient population, rising awareness on the benefits of early disease diagnosis, increasing public and private funding for the development of healthcare facilities, government initiatives for the modernization of healthcare infrastructure & provision of quality care, and the growing medical tourism in Asian countries.
Key Market Players:
The global medical equipment maintenance market is highly competitive with the presence of both OEMs and ISOs. GE Healthcare (US), Koninklijke Philips N.V. (Netherlands), Siemens Healthineers (Germany), Toshiba Medical Systems Europe (Germany), and Drägerwerk AG & Co. KGaA (Germany) are some of the leading OEMs in this market. Aramark (US), BC Technical, Inc. (US), Alliance Medical Group (UK), and Althea Group (Italy) are some of the leading ISOs operating in the global medical equipment maintenance market.
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Siemens Healthineers (Germany) held the second-largest market share in 2017, due to its trend-setting role in the medical imaging, laboratory diagnostics, medical information technology, and hearing aid sectors. The company focuses on putting maximum efforts into its selected growth fields and prioritizes business for resource allocation. Siemens Healthineers also focuses on strengthening its business through partnerships and agreements.
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Medical Equipment Maintenance Market - Major Technological Makeover is Expected During Forecast Period
Bharat Book Bureau Provides the Trending Market Research Report on “Medical Equipment Maintenance Market by Product, Provider, Service, User – Forecast to 2026” under Life Sciences Market Research Reports Category.
The growth of this market is mainly driven by the growth in the associated equipment markets, rising focus on preventive medical equipment maintenance, adoption of innovative funding mechanisms, and the increasing purchase of refurbished medical systems.
Preventive maintenance is carried out for life support devices, equipment used for diagnosis and treatment, and devices that significantly impact the safety of patients (such as defibrillators, ECG machines, pulse oximeters, infusion pumps, and electrosurgical units).
Preventive maintenance is critical for equipment present in radiology departments due to mandatory certifications and regulations, as well as the high cost of equipment.
A rise in the prevalence of chronic diseases is also expected to propel the use of advanced imaging equipment and subsequently drive the demand for associated maintenance services.“Germany market is expected to grow at the highest CAGR during the forecast period.”The German market is estimated to grow at the highest CAGR during the forecast period majorly due to growth of service providers and favourable investments scenario and evolving healthcare infrastructure in country A breakdown of the primary participants referred to for this report is provided below:•By Company Type: Tier 1–48%, Tier 2–36%, and Tier 3– 16%•By Designation: C-level–10%, Director-level–14%, and Others–76%•By Region: North America–40%, Europe–32%, Asia Pacific–20%, Latin America–5%, and the Middle East & Africa–3% Some of the prominent players in the Medical Equipment Maintenance market include GE Healthcare (US), Siemens Healthineers (Germany), Koninklijke Philips N.V. (Netherlands), Medtronic plc (Ireland), and FUJIFILM Holdings Corporation (Japan), Canon, Inc. (Toshiba Medical System Corporation, Japan), Agfa-Gevaert Group (Belgium), Carestream Health, Inc. (US), Drägerwerk AG & Co. KGaA (Germany), Hitachi Medical Corporation (Japan), Althea Group (Italy), Olympus Corporation (Japan), B. Braun Melsungen AG (Germany), KARL STORZ GmbH & Co. KG (Germany), and Aramark Services, Inc. (US) among others.
It also covers the factors affecting market growth, analyzes the various opportunities and challenges in the market, and provides details of the competitive landscape for market leaders.
This report studies the global Medical Equipment Maintenance market, analyzes and researches the Medical Equipment Maintenance development status and forecast in United States, EU, Japan, China, India and Southeast Asia.Request a sample of this report @ http://orbisresearch.com/contacts/request-sample/2091095?utm_source=r0h!tThis report focuses on the top players in global market, like GEPantheonHitachiSiemensToshibaPhilipsAramarkDrägerUHSFujifilmEsaoteMarket segment by Regions/Countries, this report covers United StatesEUJapanChinaIndiaSoutheast AsiaBrowse the complete report @ http://orbisresearch.com/reports/index/global-medical-equipment-maintenance-market-size-status-and-forecast-2025?utm_source=r0h!tMarket segment by Type, the product can be split into Advanced ModalityPrimary ModalityMarket segment by Application, Medical Equipment Maintenance can be split into Hospitals & ClinicsDiagnostic CentersOthersIf you have any special requirements, please let us know and we will offer you the report as you want.Place a purchase order of this report @ http://orbisresearch.com/contact/purchase/2091095?utm_source=r0h!tAbout Us:Orbis Research (orbisresearch.com) is a single point aid for all your market research requirements.
We have vast database of reports from the leading publishers and authors across the globe.
We specialize in delivering customized reports as per the requirements of our clients.
We have complete information about our publishers and hence are sure about the accuracy of the industries and verticals of their specialization.
This helps our clients to map their needs and we produce the perfect required market research study for our clients.
Therefore, in hospitals, it is the need that all medical equipment is organized and must be in decent shape.
It keeps assets in good condition with the help of preventive maintenance software you can schedule maintenance in advance for each asset.Moreover, it plays a crucial role in boosting the performance of assets.
It minimizes the failure chances of assets.According to the statistics of Markets and Markets, “The global predictive maintenance market size is expected to grow from USD 4.0 billion in 2020 to USD 12.3 billion by 2025, at a Compound Annual Growth Rate (CAGR) of 25.2% during the forecast period.”Why Is Preventive Maintenance Important for the Healthcare Industry?Preventive maintenance helps the healthcare industry in taking care of assets proactively in terms of medical equipment maintenance.
Money-Saving Approach in the Long TermAs we know lots of hospitals have limited funds & run-on donations so money shall be utilized smartly.
For instance, if an ambulance suddenly stops then it will be a bad situation that can make the patient suffer.That is why keeping assets maintained is important!
Prioritize Each Work OrderEach work order is prioritized and categorized as per the asset utilization and dependency.
Nov 18, 2020: In this report, our team offers a comprehensive analysis of CSR Activities market, SWOT analysis of the most prominent players in this landscape.
Along with an industrial chain, market statistics in terms of revenue, sales, price, capacity, regional market analysis, segment-wise data, and market forecast information are offered in the full study, etc.This report focuses on top manufacturers in global market, Involved the assessment of Sales, price, revenue and market share for each manufacturer, coveringEnablonBenevityYourCauseIPoint-systemsDownload sample Copy of This Report at: https://www.radiantinsights.com/research/global-csr-activities-market-2020-2026/request-sampleCloudAppsCSRwareTennaxiaCyber SWIFTOn the basis of product, this report displays the Sales, revenue, price, market share and growth rate of each type, primarily split intoCloud BasedOn-PremiseBy Application, this report focuses on Sales, Market share and Growth Rate of each application, can be divided intoSmall and medium enterprises (SMEs)Large enterprisesBrowse Full Report With TOC @ https://www.radiantinsights.com/research/global-csr-activities-market-2020-2026By Regions, this report splits global market into several key regions, with Sales, Revenue, Price and Gross Margin market share of top players in these regions, from 2014 to 2026 (forecast), likeChinaUSAEuropeJapanKoreaIndiaSoutheast AsiaSouth AmericaAbout Radiant InsightsRadiant Insights is a platform for companies looking to meet their market research and business intelligence requirements.
We assist and facilitate organizations and individuals procure market research reports, helping them in the decision making process.
We have a comprehensive collection of reports, covering over 40 key industries and a host of micro markets.
In addition to over extensive database of reports, our experienced research coordinators also offer a host of ancillary services such as, research partnerships/ tie-ups and customized research solutions.For More Information, Visit Radiant InsightsContact: Michelle Thoras Corporate Sales Specialist, USA Radiant Insights, Inc Phone: 1-415-349-0054 Toll Free: 1-888-202-9519 Email: [email protected] Blog URL: http://consumergoods691.wordpress.com
Bharat Book Bureau Provides the Trending Market Research Report on “Medical Equipment Maintenance Market by Product, Provider, Service, User – Forecast to 2026” under Life Sciences Market Research Reports Category.
The growth of this market is mainly driven by the growth in the associated equipment markets, rising focus on preventive medical equipment maintenance, adoption of innovative funding mechanisms, and the increasing purchase of refurbished medical systems.
Preventive maintenance is carried out for life support devices, equipment used for diagnosis and treatment, and devices that significantly impact the safety of patients (such as defibrillators, ECG machines, pulse oximeters, infusion pumps, and electrosurgical units).
Preventive maintenance is critical for equipment present in radiology departments due to mandatory certifications and regulations, as well as the high cost of equipment.
A rise in the prevalence of chronic diseases is also expected to propel the use of advanced imaging equipment and subsequently drive the demand for associated maintenance services.“Germany market is expected to grow at the highest CAGR during the forecast period.”The German market is estimated to grow at the highest CAGR during the forecast period majorly due to growth of service providers and favourable investments scenario and evolving healthcare infrastructure in country A breakdown of the primary participants referred to for this report is provided below:•By Company Type: Tier 1–48%, Tier 2–36%, and Tier 3– 16%•By Designation: C-level–10%, Director-level–14%, and Others–76%•By Region: North America–40%, Europe–32%, Asia Pacific–20%, Latin America–5%, and the Middle East & Africa–3% Some of the prominent players in the Medical Equipment Maintenance market include GE Healthcare (US), Siemens Healthineers (Germany), Koninklijke Philips N.V. (Netherlands), Medtronic plc (Ireland), and FUJIFILM Holdings Corporation (Japan), Canon, Inc. (Toshiba Medical System Corporation, Japan), Agfa-Gevaert Group (Belgium), Carestream Health, Inc. (US), Drägerwerk AG & Co. KGaA (Germany), Hitachi Medical Corporation (Japan), Althea Group (Italy), Olympus Corporation (Japan), B. Braun Melsungen AG (Germany), KARL STORZ GmbH & Co. KG (Germany), and Aramark Services, Inc. (US) among others.
It also covers the factors affecting market growth, analyzes the various opportunities and challenges in the market, and provides details of the competitive landscape for market leaders.
Nov 18, 2020: In this report, our team offers a comprehensive analysis of CSR Activities market, SWOT analysis of the most prominent players in this landscape.
Along with an industrial chain, market statistics in terms of revenue, sales, price, capacity, regional market analysis, segment-wise data, and market forecast information are offered in the full study, etc.This report focuses on top manufacturers in global market, Involved the assessment of Sales, price, revenue and market share for each manufacturer, coveringEnablonBenevityYourCauseIPoint-systemsDownload sample Copy of This Report at: https://www.radiantinsights.com/research/global-csr-activities-market-2020-2026/request-sampleCloudAppsCSRwareTennaxiaCyber SWIFTOn the basis of product, this report displays the Sales, revenue, price, market share and growth rate of each type, primarily split intoCloud BasedOn-PremiseBy Application, this report focuses on Sales, Market share and Growth Rate of each application, can be divided intoSmall and medium enterprises (SMEs)Large enterprisesBrowse Full Report With TOC @ https://www.radiantinsights.com/research/global-csr-activities-market-2020-2026By Regions, this report splits global market into several key regions, with Sales, Revenue, Price and Gross Margin market share of top players in these regions, from 2014 to 2026 (forecast), likeChinaUSAEuropeJapanKoreaIndiaSoutheast AsiaSouth AmericaAbout Radiant InsightsRadiant Insights is a platform for companies looking to meet their market research and business intelligence requirements.
We assist and facilitate organizations and individuals procure market research reports, helping them in the decision making process.
We have a comprehensive collection of reports, covering over 40 key industries and a host of micro markets.
In addition to over extensive database of reports, our experienced research coordinators also offer a host of ancillary services such as, research partnerships/ tie-ups and customized research solutions.For More Information, Visit Radiant InsightsContact: Michelle Thoras Corporate Sales Specialist, USA Radiant Insights, Inc Phone: 1-415-349-0054 Toll Free: 1-888-202-9519 Email: [email protected] Blog URL: http://consumergoods691.wordpress.com
This report studies the global Medical Equipment Maintenance market, analyzes and researches the Medical Equipment Maintenance development status and forecast in United States, EU, Japan, China, India and Southeast Asia.Request a sample of this report @ http://orbisresearch.com/contacts/request-sample/2091095?utm_source=r0h!tThis report focuses on the top players in global market, like GEPantheonHitachiSiemensToshibaPhilipsAramarkDrägerUHSFujifilmEsaoteMarket segment by Regions/Countries, this report covers United StatesEUJapanChinaIndiaSoutheast AsiaBrowse the complete report @ http://orbisresearch.com/reports/index/global-medical-equipment-maintenance-market-size-status-and-forecast-2025?utm_source=r0h!tMarket segment by Type, the product can be split into Advanced ModalityPrimary ModalityMarket segment by Application, Medical Equipment Maintenance can be split into Hospitals & ClinicsDiagnostic CentersOthersIf you have any special requirements, please let us know and we will offer you the report as you want.Place a purchase order of this report @ http://orbisresearch.com/contact/purchase/2091095?utm_source=r0h!tAbout Us:Orbis Research (orbisresearch.com) is a single point aid for all your market research requirements.
We have vast database of reports from the leading publishers and authors across the globe.
We specialize in delivering customized reports as per the requirements of our clients.
We have complete information about our publishers and hence are sure about the accuracy of the industries and verticals of their specialization.
This helps our clients to map their needs and we produce the perfect required market research study for our clients.
Therefore, in hospitals, it is the need that all medical equipment is organized and must be in decent shape.
It keeps assets in good condition with the help of preventive maintenance software you can schedule maintenance in advance for each asset.Moreover, it plays a crucial role in boosting the performance of assets.
It minimizes the failure chances of assets.According to the statistics of Markets and Markets, “The global predictive maintenance market size is expected to grow from USD 4.0 billion in 2020 to USD 12.3 billion by 2025, at a Compound Annual Growth Rate (CAGR) of 25.2% during the forecast period.”Why Is Preventive Maintenance Important for the Healthcare Industry?Preventive maintenance helps the healthcare industry in taking care of assets proactively in terms of medical equipment maintenance.
Money-Saving Approach in the Long TermAs we know lots of hospitals have limited funds & run-on donations so money shall be utilized smartly.
For instance, if an ambulance suddenly stops then it will be a bad situation that can make the patient suffer.That is why keeping assets maintained is important!
Prioritize Each Work OrderEach work order is prioritized and categorized as per the asset utilization and dependency.