Medical Equipment Maintenance: Trends, Forecast and Competitive Analysis

Medical Equipment Maintenance: Trends, Forecast and Competitive Analysis

Medical Equipment Maintenance Market Trends and Forecast

The future of the medical equipment maintenance market looks promising with opportunities in public and private hospitals. The global medical equipment maintenance market is expected to decline in 2020 due to global economic recession led by the COVID-19 outbreak. However, the market will witness recovery in the year 2021 and it is expected to reach an estimated $53.4 billion by 2027 with a CAGR of 9.3% from 2022 to 2027. The major drivers for this market are growth in the demand for medical equipment, inceasing focus on preventive maintenance, and a wide acceptance of refurbished medical equipment.

Emerging Trends in Medical Equipment Maintenance Market

Emerging trends, which have direct impact on the dynamics of the industry, include emergence of ISOs and advancement in imaging equipment technologies.

A total of 132 figures / charts and 118 tables are provided in this 211-page report to help in your business decisions. Sample figures with some insights are shown below. To learn the scope of, benefits, companies researched and other details of medical equipment maintenance market report, please download the report brochure.

Medical Equipment Maintenance Market by Segment

In this market, preventive maintenance is the largest service type market, and imaging euipment is the largest device type segment.

The study includes trends and forecast for the medical equipment maintenance market by device type, service type, service provider, end use, and region as follows:

Medical Equipment Maintenance Market by Device Type [Value ($ Million) from 2016 – 2027]:

• Imaging Equipment
• Advanced Imaging Modalities
• Primary Imaging Modalities
• Endoscopic Device
• Surgical Instruments
• Electromedical Equipment
• Others

Medical Equipment Maintenance Market by Service Type [Value ($ Million) from 2016 – 2027]:

• Preventive Maintenance
• Corrective Maintenance
• Operational Maintenance

Medical Equipment Maintenance Market by Service Provider [Value ($ Million) from 2016 – 2027]:

• Original Equipment Manufacturers (OEMs)
• Multi- Vendor OEMs
• Single-Vendor OEMsl
• Independent Service Organizations (ISOs)
• In-House Maintenance

Medical Equipment Maintenance Market by End Use [Value ($ Million) from 2016 – 2027]:

• Private Sector Organizations
• Public Sector Organizations

Medical Equipment Maintenance Market by Region [Value ($ Million) from 2016 – 2027]:

• North America
• United States
• Canada
• Mexico
• Europe
• Germany
• Italy
• France
• United Kingdom
• Spain
• Asia Pacific
• Japan
• China
• India
• The Rest of the World
• Brazil

List of Medical Equipment Maintenance Companies

Companies in the market compete on the basis of product quality offered. Major players in this market focus on expanding their manufacturing facilities, R&D investments, infrastructural development, and leverage integration opportunities across the value chain. With these strategies, medical equipment maintenance companies cater to increasing demand, ensure competitive effectiveness, develop innovative products & technologies, reduce production costs, and expand their customer base. Some of the medical equipment maintenance companies profiled in this report include-

• GE Healthcare
• Siemens Healthineers
• Koninklijke Philips
• Stryker
• Canon
• Fujifilm
• Hitachi
• Shimadzu
• Alliance Medical Group
• Althea Group

Medical Equipment Maintenance Market Insights

• Lucintel forecasts that the preventive maintenance segment will remain the largest service type market over the forecast period as regular maintenance services ensure safe, efficient, and long lasting use of medical devices.
• Within this market, maintaince services for imaging equipment is expected to witeness the highest growth over the forecast period due to high replacement costs and the need for ensuring maximum equipment uptime.
• North America will remain the largest region over the forecast period due to high adoption of advanced technology, well-established healthcare infrastructure, and growing medical device market in this region.

Features of Medical Equipment Maintenance Market

• Market Size Estimates: Medical equipment maintenance market market size estimation in terms of value ($M) shipment.
• Trend and Forecast Analysis: Market trends (2016-2021) and forecast (2022-2027) by various segments and regions.
• Segmentation Analysis: Medical equipment maintenance market size by various segments, such as device type, service type, service provider, and end use.
• Regional Analysis: Medical equipment maintenance market breakdown by North America, Europe, Asia Pacific, and the Rest of the World.
• Growth Opportunities: Analysis on growth opportunities in different device types, service types, service providers, end uses, and regions for medical equipment maintenance market.
• Strategic Analysis: This includes M&A and competitive landscape for the medical equipment maintenance.
• Analysis of competitive intensity of the industry based on Porter’s Five Forces model

FAQ

Q1. What is the medical equipment maintenance market size?

Answer: The global medical equipment maintenance market is expected to reach an estimated $53.4 billion by 2027.

Q2. What is the growth forecast for medical equipment maintenance market?

Answer: The medical equipment maintenance market is expected to grow at a CAGR of 9.3% from 2022 to 2027.

Q3. What are the major drivers influencing the growth of the medical equipment maintenance market?

Answer: The major drivers for this market are growth in the demand for medical equipment, increasing focus on preventive maintenance, and a wide acceptance of refurbished medical equipment.

Q4. What are the major end uses for the medical equipment maintenance market?

Answer: Private sector and public sector organizations are the major end use industries of medical equipment maintenance.

Q5. What are the emerging trends in medical equipment maintenance market?

Answer: Emerging trends, which have direct impact on the dynamics of the industry, include emergence of ISOs and advancement in imaging equipment technologies.

Q6. Who are the key medical equipment maintenance companies?

Answer: Some of the key medical equipment maintenance companies are as follows:

• GE Healthcare
• Siemens Healthineers
• Koninklijke Philips
• Stryker
• Canon
• Fujifilm
• Hitachi
• Shimadzu
• Alliance Medical Group
• Althea Group

Q7.Which will be the largest service type segment of the medical equipment maintenance market in the future?

Answer: Lucintel forecasts that preventive maintenance will remain the largest service type segment over the forecast period as this maintenance service ensures safe, efficient, and long lasting use of medical devices.

Q8: In medical equipment maintenance market, which region is expected to be the largest in the next five years?

Answer: North America is expected to be the largest region over the next five years.

Q9. Do we receive customization in this report?

Answer: Yes, Lucintel provides 10% customization without any additional cost.

This report answers following 11 key questions

Q.1 What are some of the most promising potential, high-growth opportunities for the medical equipment maintenance market by device type (imaging equipment (advanced imaging modalities and primary imaging modalities), endoscopic device, surgical instruments, electromedical equipment, and others), service type (preventive maintenance, corrective maintenance, and operational maintenance), service provider (original equipment manufacturers (OEMs) (multi-vendor OEMs and single-vendor OEMs), independent service organizations (ISOs), and in-house maintenance), end user (public sector organizations and private sector organizations), and region (North America, Europe, Asia Pacific, and the Rest of the World)?

Q.2 Which segments will grow at a faster pace and why?

Q.3 Which regions will grow at a faster pace and why?

Q.4 What are the key factors affecting market dynamics? What are the drivers and challenges of the medical equipment maintenance market?

Q.5 What are the business risks and threats to the medical equipment maintenance market?

Q.6 What are the emerging trends in the medical equipment maintenance market and the reasons behind them?

Q.7 What are some changing demands of customers in the medical equipment maintenance market?

Q.8 What are the new developments in the medical equipment maintenance market? Which companies are leading these developments?

Q.9 Who are the major players in the medical equipment maintenance market? What strategic initiatives are being implemented by key players for business growth?

Q.10 What are some of the competitive products and processes in the medical equipment maintenance market, and how big of a threat do they pose for loss of market share via material or product substitution?

Q.11 What M&A activities did take place in the last five years in the medical equipment maintenance market?

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