Medical Equipment Repair & Maintenance Services in the US - Industry Market Research Report

Medical Equipment Repair & Maintenance Services in the US - Industry Market Research Report

Medical Equipment Repair & Maintenance Services in the US

Rising healthcare expenditures, aided by an aging population, have translated into higher medical equipment utilization in recent years. As healthcare providers deliver more treatments to more patients, the frequency and volume of medical repairs have increased. Yet, restrictions on repairs by original equipment manufacturers (OEMs) and the COVID-19 pandemic have limited growth. OEMs restrict independent repair technicians' access to parts, tools, software and knowledge necessary for repairs, citing safety concerns and lack of oversight. COVID-19 created challenges for equipment repair providers, as cancellations of medical procedures dropped how often medical equipment required repairs. Recovering health expenditure and rebounding patient volumes between 2021 and 2022 recovered the need for medical equipment repairs, but it doesn't offset the impact of earlier challenges. In all, industry revenue has fallen at a CAGR of 0.6% over the past five years, totaling an estimated $10.1 billion in 2023 when revenue is expected to drop 1.2%.

Operators in this industry repair and maintain precision electrical medical equipment and devices. Repairs performed at the expense of a manufacturer (recalls, warranties) aren't included in this industry.

This report covers the scope, size, disposition and growth of the industry including the key sensitivities and success factors. Also included are five year industry forecasts, growth rates and an analysis of the industry key players and their market shares.