Medical Equipment Maintenance Market Share, Size, Trends, Industry Analysis Report, By Service Type (Corrective Maintenance, Preventive Maintenance, Operational Maintenance); By Equipment; By End User; By Region; Segment Forecast, 2024- 2032
The global medical equipment maintenance market size is expected to reach USD 118.08 billion by 2032, according to a new study by Polaris Market Research. The report “Medical Equipment Maintenance Market Share, Size, Trends, Industry Analysis Report, By Service Type (Corrective Maintenance, Preventive Maintenance, Operational Maintenance); By Equipment; By End User; By Region; Segment Forecast, 2024- 2032” gives a detailed insight into current market dynamics and provides analysis on future market growth.
The Asia-Pacific region is poised for substantial growth during the forecast period. Governments in this area are making significant investments in healthcare infrastructure and services. These investments frequently involve the acquisition of medical equipment for public healthcare institutions, typically accompanied by maintenance contracts, which are propelling market expansion. Additionally, numerous countries in the Asia-Pacific region have become appealing hubs for medical tourism. To cater to international patients, these nations must uphold elevated healthcare standards, which encompass the diligent maintenance of medical equipment.
The adoption of preventive maintenance practices is gaining prominence. Preventive maintenance involves regular, scheduled servicing to proactively address issues before they become critical, minimizing costly equipment breakdowns and enhancing the longevity of expensive medical devices. Scheduled servicing and inspections help in identifying and rectifying potential issues before they escalate into costly equipment breakdowns, reducing operational disruptions.
The integration of remote monitoring and Internet of Things (IoT) technology in medical equipment is revolutionizing maintenance practices. It allows for proactive, real-time monitoring, diagnostics, and predictive maintenance, ensuring seamless equipment performance and minimizing downtime. Many healthcare facilities and organizations prefer to outsource their equipment maintenance to specialized third-party service providers. This approach ensures access to expert technicians and resources, driving the growth of the medical equipment maintenance service sector.
Data analytics and artificial intelligence (AI) are increasingly applied to optimize maintenance schedules and identify maintenance trends. These technologies offer opportunities for more efficient maintenance operations, as they can predict equipment issues and improve maintenance efficiency.
Medical Equipment Maintenance, Market Report Highlights
Corrective maintenance accounted for significant market share in 2022, which is mainly driven by greater need for issue rectification and downtime mitigation
Imaging equipment accounted for significant market share in 2022, which is mainly driven by diagnosis precision and patient care, regulatory conformance, and downtime mitigation
Hospitals segment held the maximum market revenue share in 2022, mainly due to regulatory standards and guidelines, diverse equipment portfolio, and patient safety emphasis
North America region dominated the market with majority share in 2022, owing to adoption of advanced healthcare technology, regulatory compliance, aging equipment, and focus on patient safety
The global key market players include B. Braun Melsungen AG, GE Healthcare, Hitachi Healthcare, Koninklijke Philips N.V., Siemens Healthineers, and Althea Group among others
Polaris Market Research has segmented the Medical Equipment Maintenance market report based on service type, equipment, end user, and region:
Medical Equipment Maintenance, Service Type Outlook (Revenue - USD Billion, 2019 - 2032)
Corrective Maintenance
Preventive Maintenance
Operational Maintenance
Medical Equipment Maintenance, Equipment Outlook (Revenue - USD Billion, 2019 - 2032)
Surgical Instruments
Imaging Equipment
Endoscopic Equipment
Electromedical Equipment
Others
Medical Equipment Maintenance, End User Outlook (Revenue - USD Billion, 2019 - 2032)
Hospitals
Diagnostic Centers
Ambulatory Centers
Others
Medical Equipment Maintenance, Regional Outlook (Revenue - USD Billion, 2019 - 2032)
North America
U.S.
Canada
Europe
Germany
UK
France
Italy
Spain
Russia
Netherlands
Asia Pacific
China
India
Japan
South Korea
Indonesia
Malaysia
Latin America
Argentina
Brazil
Mexico
Middle East & Africa
UAE
Saudi Arabia
Israel
South Africa