Medical Equipment Repair & Maintenance Market by Device Type (Compression Devices, Dental Equipment, Electro-Medical Equipment), Service Type (Corrective Maintenance, Operational Maintenance, Preventive Maintenance), Service Provider, End-User - Global Fo

Medical Equipment Repair & Maintenance Market by Device Type (Compression Devices, Dental Equipment, Electro-Medical Equipment), Service Type (Corrective Maintenance, Operational Maintenance, Preventive Maintenance), Service Provider, End-User - Global Forecast 2024-2030

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.

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.

Market Insights

• Market Dynamics
  
  The market dynamics represent an ever-changing landscape of the Medical Equipment Repair & Maintenance Market by providing actionable insights into factors, including supply and demand levels. Accounting for these factors helps design strategies, make investments, and formulate developments to capitalize on future opportunities. In addition, these factors assist in avoiding potential pitfalls related to political, geographical, technical, social, and economic conditions, highlighting consumer behaviors and influencing manufacturing costs and purchasing decisions.
  • Market Drivers
    • Need for Maintaining and Repairing the Critical Medical Equipments for Increasing Life-Threatening Diseases
    • Rising Focus on Preventive Medical Equipment Maintenance
    • Growing Preference on Refurbished Medical Equipment
    • Market Restraints
      • High-Cost Associated with Medical Equipment Repair & Maintenance
      • Market Opportunities
        • Growing Medical Tourism Coupled With Government Initiatives for the Modernization of Healthcare Infrastructure
        • Increasing Integration of Advanced Technologies in Medical Equipment Maintenance & Repair Services
        • Market Challenges
          • Risk and Safety Issues Associated with Medical Equipment Repair & Maintenance
          • Market Segmentation Analysis
            • Device Type: Expanding usage of repair & maintenance devices for endoscopy devices
            • Service Type: High preference for preventive maintenance devices to minimize downtime of medical devices
            • Service Provider: Potential for original equipment manufacturers that offer standardized solutions
            • End-User: Growing need of efficient maintenance and repair services across private healthcare organizations
            • Market Disruption Analysis
            • Porter’s Five Forces Analysis
            • Value Chain & Critical Path Analysis
            • Pricing Analysis
            • Technology Analysis
            • Patent Analysis
            • Trade Analysis
            • Regulatory Framework Analysis
            FPNV Positioning Matrix
            
            The FPNV positioning matrix is essential in evaluating the market positioning of the vendors in the Medical Equipment Repair & Maintenance Market. This matrix offers a comprehensive assessment of vendors, examining critical metrics related to business strategy and product satisfaction. This in-depth assessment 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, namely 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 assessment of the current state of vendors in the Medical Equipment Repair & Maintenance Market. By meticulously comparing and analyzing vendor contributions, companies are offered a greater understanding of their performance and the challenges they face when competing for market share. These contributions include overall revenue, customer base, and other vital metrics. 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 these illustrative details, vendors can make more informed decisions and devise effective strategies to gain a competitive edge in the market.
            
            Recent Developments
            • Althea and Medipass Merge and Rebrand as Ergea
              
              The merger between Althea, and Medipass offers an end-to-end solution that is tailored specifically for each customer’s needs. With both companies specializing in different areas of the medical device repair process, they can now provide onsite service for customers who need repairs done quickly, while Medipass offers remote support for those who need more extensive assistance. By merging forces, Ergea can provide customers with both solutions in one streamlined package. This allows them to choose from multiple options when it comes to having their device repaired or maintained. Additionally, Ergea can offer discounts on select services due to the increased scale of its operations. For customers, this merger means access to more comprehensive services under one roof. Instead of having separate providers for onsite repairs and billing services, they can now get everything they need from one reliable source. This can save time and money while ensuring that their device is properly repaired or maintained without any hiccups along the way. Additionally, Ergea can provide customers with discounts on select services due to the increased scale of their operations.
              
              How GE Healthcare’s Advantus USD 760M Maintenance Deal Is Revolutionizing Medical Equipment Repair and Maintenance
              
              The new Advantus USD 760M maintenance deal from GE Healthcare offers hospitals and other healthcare facilities an effective way to maintain their medical equipment without having to worry about unexpected costs or breakdowns. With the agreement, customers can receive unlimited preventative maintenance visits for the seven-year contract. Customers won’t have to worry about unexpected costs due to unplanned repairs or breakdowns. In addition, the contract includes access to 24/7 customer support in case of emergencies or questions related to the device. The Advantus USD 760M contract also provides customers additional benefits such as extended warranties and discounts on parts and labor costs associated with repairs and replacements. By signing up for this service agreement, customers can rest assured that they will always have access to reliable preventative maintenance services and expert technicians available around the clock if needed. In addition, customers will receive discounts on parts and labor costs which can help them save money in the long run. GE Healthcare’s Advantus USD 760M maintenance deal is just one example of how companies innovate regarding medical equipment repair and maintenance services. By providing customers with cost-saving options, extended warranties, 24/7 support services, and more comprehensive preventative measures than ever before, these deals are helping healthcare providers better manage their resources while still ensuring that their patients receive quality care at all times. Furthermore, these innovations are helping hospitals stay competitive by allowing them to keep up with advances in technology without breaking the bank or sacrificing patient safety or care quality due to lack of proper maintenance services.
              
              The Importance of Medical Equipment Maintenance
              
              Medical equipment needs to be regularly maintained in order to remain safe and effective. This is especially true for imaging systems such as X-rays, MRI machines, CT scanners, and ultrasound systems. Proper maintenance ensures that these machines are always working at peak performance, which reduces the risk of patient injury or inaccurate results. For example, an X-ray machine that has not been properly maintained can expose patients to more radiation than necessary or produce images with poor contrast or resolution. Another reason regular maintenance is important is that it helps extend the life of medical devices by identifying problems before they become too severe. By catching potential issues early on, repairs can be made before they become costly replacements—saving time and money in the long run. Olympus Corporation’s new medical device maintenance service promises to make maintaining medical equipment easier. The company’s trained technicians provide complete preventive maintenance services for all types of imaging systems, as well as repairs when necessary. They offer fast turnaround times so hospitals can minimize downtime and get back up and running quickly. Additionally, Olympus also provides calibration services to ensure accuracy over time—something that should be done periodically in order to meet regulations set forth by regulatory bodies like the Food and Drug Administration (FDA).
            Strategy Analysis & Recommendation
            
            The strategic analysis is essential for organizations seeking a solid foothold in the global marketplace. Companies are better positioned to make informed decisions that align with their long-term aspirations by thoroughly evaluating their current standing in the Medical Equipment Repair & Maintenance Market. This critical assessment involves a thorough analysis of the organization’s resources, capabilities, and overall performance to identify its core strengths and areas for improvement.
            
            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, Drägerwerk 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
                              
                              
                              Please Note: PDF & Excel + Online Access - 1 Year