The Medical Equipment Maintenance Global Market Report 2024 by The Business Research Company provides market overview across 60+ geographies in the seven regions - Asia-Pacific, Western Europe, Eastern Europe, North America, South America, the Middle East, and Africa, encompassing 27 major global industries. The report presents a comprehensive analysis over a ten-year historic period (2010-2021) and extends its insights into a ten-year forecast period (2024-2033).
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As per The Business Research Company’s Medical Equipment Maintenance Global Market Report 2024, the medical equipment maintenance market has witnessed a substantial surge in recent times. Its trajectory is poised for further expansion, projecting a growth from $36.47 billion in 2024 to $40.92 billion by 2024, boasting a robust compound annual growth rate (CAGR) of 12.2%. This surge in the historical context can be ascribed to burgeoning equipment intricacies, escalating healthcare expenditure, a pronounced inclination towards preventive maintenance, the emergence of specialized service providers, and a heightened focus on both quality assurance and patient welfare.
Forecasts predict a continued upsurge in the medical equipment maintenance market, anticipating an ascent to $64.09 billion by 2028, with a CAGR of 11.9%. This anticipated growth in the forecasted period finds its roots in the integration of predictive analytics, persistent endeavors in training and skill augmentation, protracted equipment durability, a steadfast emphasis on patient safety and optimal care delivery, and an escalating demand for specialized service providers. Noteworthy trends expected to shape this trajectory encompass the burgeoning domain of telehealth, an increasing emphasis on environmental sustainability, the outsourcing of maintenance services, a pronounced shift towards preventive maintenance protocols, and the advent of remote monitoring solutions.
The increase in demand for medical devices is significantly contributing to the growth of the medical equipment maintenance market. Medical devices are instruments, machines, and apparatus that are used for medical purposes to prevent, diagnose, or treat diseases. The rising demand for medical devices requires effective medical equipment maintenance services to lower dispatch costs, minimize patient dissatisfaction, ensure prompt patient treatment, and lower fatality and risk during patient care. For instance, according to the International Trade Administration and U.S. Department of Commerce report, the total production of medical devices and equipment in India reached $4,473 million in 2020, which is an increase compared to $2,390 million in 2019. Therefore, the increase in demand for medical devices is expected to propel the growth of the medical equipment maintenance market going forward.
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The medical equipment maintenance market covered in this report is segmented –
1) By Service Type: Preventive Maintenance, Corrective Maintenance, Operational Maintenance
2) By Device: Imaging Equipment, Endoscopic Devices, Surgical Instruments, Electro-medical Equipment
3) By Technology: Multi-Vendor OEMs, Single-Vendor OEMs, Independent Service Organization, In-House Maintenance
4) By End User: Hospital, Diagnostic Imaging Centers, Dialysis Centers, Ambulatory Surgical Centers, Dental Clinics And Specialty Clinics, Other End Users
Major industry players are actively engaged in pioneering innovations to fortify the medical equipment maintenance landscape, exemplified by initiatives like the establishment of medical equipment service centers aimed at bolstering the public healthcare framework. These centers serve as dedicated hubs for the maintenance, repair, and calibration of medical apparatus. A case in point is B. Braun's endeavor in July 2022, where the renowned US-based entity, a frontrunner in smart infusion therapy and pharmacy products, unveiled its Technical Service Center. This cutting-edge facility is committed to delivering top-tier medical equipment repair and maintenance services, staffed by a cadre of seasoned engineers proficient in servicing the entire spectrum of the company's medical equipment range. Moreover, the center meticulously employs authentic B. Braun components, ensuring unparalleled quality in all repairs and maintenance undertakings.
The medical equipment maintenance market report table of contents includes:
1. Executive Summary
2. Medical Equipment Maintenance Market Characteristics
3. Medical Equipment Maintenance Market Trends And Strategies
4. Medical Equipment Maintenance Market - Macro Economic Scenario
5. Global Medical Equipment Maintenance Market Size and Growth
....
32. Global Medical Equipment Maintenance Market Competitive Benchmarking
33. Global Medical Equipment Maintenance Market Competitive Dashboard
34. Key Mergers And Acquisitions In The Medical Equipment Maintenance Market
35. Medical Equipment Maintenance Market Future Outlook and Potential Analysis
36. Appendix
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