Medical Equipment Maintenance Market | Industry Analysis Report, 2027
The global Medical Equipment Maintenance market gathered revenue around USD 44.9 Billion in 2020 and market is set to grow USD 76.2 Billion by the end of 2027 and is estimated to expand at a modest CAGR of 12.4% during the prediction period 2021 to 2027.
Growth Factors:
The Market Increase in health care expenses and increase in need for technologically advanced medical equipment have significant increase in the medical equipment manufacturing market. This medical equipment is used for the people’s health. They have been broadly used for the health-checks of human lives in every department of healthcare industry. For instance, calibration is an important procedure for any equipment and device, to maintain and improve its accuracy and precision.
Right operative of medical equipment is extremely essential for almost all healthcare expert for instances doctors, nurses, and others. Medical equipment and devices allow healthcare experts to precisely check health of the patient. These are utilized from diagnostic methods to surgeries, therapeutic treatments, operating table, and helping specialists in emergency hospital room.
Based on device type, the global medical equipment maintenance market is sectioned into imaging equipment, endoscopic devices, surgical instruments, and electromedical equipment. Based on service type, the market is segmented into corrective, preventive, and operational maintenance. On the basis of service provider, the medical equipment maintenance market is categorized into original equipment manufacturers (OEMs), independent service organizations (ISOs), and in-house maintenance. Based on end user, the global medical equipment maintenance market is divided into public-sector organizations and private-sector organizations.
This research report purposes at stressing the most lucrative growth prospects. The aim of the research report is to provide an inclusive valuation of the Medical Equipment Maintenance market and it encompasses thoughtful visions, actualities, industry-validated market findings, historic data, and prognoses by means of appropriate set of assumptions and practice. Global Medical Equipment Maintenance market report aids in comprehending market structure and dynamics by recognizing and scrutinizing the market sectors and predicted the global market outlook.
Report Coverage
| Report Scope | Details |
| Market Size | USD 76.2 Billion by 2027 |
| Growth Rate | CAGR of 12.4% From 2021 to 2027 |
| Base Year | 2020 |
| Forecast Period | 2021 to 2027 |
| Historic Data | 2017 to 2020 |
| Report coverage | Growth Factors, Revenue Status, Competitive Landscape, and Future Trends |
| Segments Covered | Service Type, Service Providers, Device Type, End User Region |
| Regional Scope | North America, Europe, Asia Pacific, Latin America, Middle East & Africa (MEA) |
| Companies Mentioned | GE Healthcare; Siemens Healthineers; Koninklijke Philips N.V.; Drägerwerk AG & Co. KGaA; Medtronic; B. Braun Melsungen AG; Aramark; BC Technical, Inc.; Alliance Medical Group; Althea Group. |
COVID-19 Impact Assessment on Market Landscape
The report comprises the scrutiny of COVID-19 lock-down impact on the income of market leaders, disrupters and followers. Since lock down was instigated differently in diverse regions and nations, influence of same is also dissimilar across various industry verticals. The research report offers present short-term and long-term influence on the market to assist market participants across value chain makers to formulate the framework for short term and long-lasting tactics for recovery and by region.
Medical Equipment Maintenance market Report empowers readers with all-inclusive market intelligence and offers a granular outline of the market they are operational in. Further this research study delivers exceptional combination of tangible perceptions and qualitative scrutiny to aid companies accomplishes sustainable growth. This report employs industry-leading research practices and tools to assemble all-inclusive market studies, intermingled with pertinent data. Additionally, this report also emphases on the competitive examination of crucial players by analyzing their product portfolio, pricing, gross margins, financial position, growth approaches, and regional occurrence.
Global Medical Equipment Maintenance Market: Drivers & Restraints
The global medical equipment maintenance market is estimated to grow at a rapid pace in the forthcoming years. Quick implementations of new methods, global increase in number of life-threatening infections and disorders will drive the market. This will need cutting-edge medical devices, and increase in purchase of renewed medical systems drive the global medical equipment maintenance market.
The prime factors boosting the global medical equipment maintenance market are growing concentration on preventive medical equipment maintenance. Also, growing preference for buying of restored medical equipment as well as growing investments of major enterprises to build healthcare infrastructure is driving the market.
However, increase in cost of medical equipment and treatment, absence of health care expertise, and significant cost of maintenance of medical equipment are the restraining factors for the global medical equipment maintenance market. Nevertheless, developments for complex equipment maintenance and growing number of public-private partnerships is fueling the market.
Regional analysis:
North America accounted for the largest revenue share of 40.1% in 2020 owing to the advanced medical infrastructure, rising prevalence of chronic diseases, higher healthcare spending, and a large number of hospitals and ambulatory surgical centers in the region. In addition, higher demand for advanced medical devices in the region is anticipated to propel the market growth in the region.
Asia Pacific is expected to witness the fastest growth over the forecast period due to the growing geriatric population, government initiatives to provide better healthcare services, and rising healthcare spending in the region. For instance, the Government of India launched the Ayushman Bharat Yojana in 2019 to offer free access to healthcare for 45% of people in the country.
Competitive Rivalry
Foremost players in the market are attentive on adopting corporation strategies to enhance their market share. Some of the prominent tactics undertaken by leading market participants in order to sustain the fierce market completion include collaborations, acquisitions, substantial spending in R&D and the improvement of new-fangled products or reforms among others.
Major manufacturers & their revenues, percentage splits, market shares, growth rates and breakdowns of the product markets are determined through secondary sources and verified through the primary sources.
Some of the prominent players in the Medical Equipment Maintenance Market include: GE Healthcare; Siemens Healthineers; Koninklijke Philips N.V.; Drägerwerk AG & Co. KGaA; Medtronic; B. Braun Melsungen AG; Aramark; BC Technical, Inc.; Alliance Medical Group; Althea Group.
Unravelling the Critical Segments
This research report offers market revenue, sales volume, production assessment and prognoses by classifying it on the basis of various aspects including product type, application/end-user, and region. Further, this research study investigates market size, production, consumption and its development trends at global, regional, and country level for period 2017 to 2027 and covers subsequent region in its scope:
Global Medical Equipment Maintenance Market, by Device Type
Medical Equipment Maintenance Market, by Service Type
Global Medical Equipment Maintenance Market, by Technology
Global Medical Equipment Maintenance Market, by End User
By Geography
North America
Europe
Asia Pacific
Latin America
Middle East & Africa (MEA)
Highlights of the Report:
Research Methodology
In the study, a unique research methodology is utilized to conduct extensive research on the growth of the Medical Equipment Maintenance market, and reach conclusions on the future growth parameters of the market. This research methodology is a combination of primary and secondary research, which helps analysts ensure the accuracy and reliability of the conclusions.
Secondary resources referred to by analysts during the production of the Medical Equipment Maintenance market study are as follows - statistics from government organizations, trade journals, white papers, and internal and external proprietary databases. Analysts have also interviewed senior managers, product portfolio managers, CEOs, VPs, marketing/product managers, and market intelligence managers, all of whom have contributed to the development of this report as a primary resource.
Comprehensive information acquired from primary and secondary resources acts as a validation from companies in the market, and makes the projections on the growth prospects of the Medical Equipment Maintenance markets more accurate and reliable.
Secondary Research
It involves company databases such as Hoover's: This assists us recognize financial information, structure of the market participants and industry competitive landscape.
The secondary research sources referred in the process are as follows:
Primary Research
Primary research includes face-to face interviews, online surveys, and telephonic interviews.
Industry participants involved in this research study include:
Key Points Covered in Medical Equipment Maintenance market Study:
Chapter 1. Introduction
1.1. Research Objective
1.2. Scope of the Study
1.3. Definition
Chapter 2. Research Methodology
2.1. Research Approach
2.2. Data Sources
2.3. Assumptions & Limitations
Chapter 3. Executive Summary
3.1. Market Snapshot
Chapter 4. Market Variables and Scope
4.1. Introduction
4.2. Market Classification and Scope
4.3. Industry Value Chain Analysis
4.3.1. Raw Material Procurement Analysis
4.3.2. Sales and Distribution Channel Analysis
4.3.3. Downstream Buyer Analysis
Chapter 5. Market Dynamics Analysis and Trends
5.1. Market Dynamics
5.1.1. Market Drivers
5.1.2. Market Restraints
5.1.3. Market Opportunities
5.2. Porter’s Five Forces Analysis
5.2.1. Bargaining power of suppliers
5.2.2. Bargaining power of buyers
5.2.3. Threat of substitute
5.2.4. Threat of new entrants
5.2.5. Degree of competition
Chapter 6. Competitive Landscape
6.1.1. Company Market Share/Positioning Analysis
6.1.2. Key Strategies Adopted by Players
6.1.3. Vendor Landscape
6.1.3.1. List of Suppliers
6.1.3.2. List of Buyers
Chapter 7. Global Medical Equipment Maintenance Market, By Device Type
7.1. Medical Equipment Maintenance Market, by Device Type, 2021-2027
7.1.1. Diagnostic Imaging Equipments
7.1.1.1. Market Revenue and Forecast (2016-2027)
7.1.2. Electrosurgical Equipment
7.1.2.1. Market Revenue and Forecast (2016-2027)
7.1.3. Endoscopic Devices
7.1.3.1. Market Revenue and Forecast (2016-2027)
7.1.4. Surgical Equipment
7.1.4.1. Market Revenue and Forecast (2016-2027)
7.1.5. Medical Lasers
7.1.5.1. Market Revenue and Forecast (2016-2027)
7.1.6. Opthalmology Equipment
7.1.6.1. Market Revenue and Forecast (2016-2027)
7.1.7. Patient Monitoring & Life Support Devices
7.1.7.1. Market Revenue and Forecast (2016-2027)
7.1.8. Dental Equipment
7.1.8.1. Market Revenue and Forecast (2016-2027)
7.1.9. Laboratory Equipment
7.1.9.1. Market Revenue and Forecast (2016-2027)
7.1.10. Durable Medical Equipments
7.1.10.1. Market Revenue and Forecast (2016-2027)
7.1.11. Radiotherapy Devices
7.1.11.1. Market Revenue and Forecast (2016-2027)
Chapter 8. Global Medical Equipment Maintenance Market, By Service Type
8.1. Medical Equipment Maintenance Market, by Service Type, 2021-2027
8.1.1. Preventive Maintenance
8.1.1.1. Market Revenue and Forecast (2016-2027)
8.1.2. Corrective Maintenance
8.1.2.1. Market Revenue and Forecast (2016-2027)
8.1.3. Operational Maintenance
8.1.3.1. Market Revenue and Forecast (2016-2027)
Chapter 9. Global Medical Equipment Maintenance Market, By Technology
9.1. Medical Equipment Maintenance Market, by Technology, 2021-2027
9.1.1. Multi-Vendor OEMs
9.1.1.1. Market Revenue and Forecast (2016-2027)
9.1.2. Single-Vendor OEMs
9.1.2.1. Market Revenue and Forecast (2016-2027)
9.1.3. Independent Service Organization
9.1.3.1. Market Revenue and Forecast (2016-2027)
9.1.4. In-House Maintenance
9.1.4.1. Market Revenue and Forecast (2016-2027)
Chapter 10.Global Medical Equipment Maintenance Market, By End User
10.1. Medical Equipment Maintenance Market, By End User, 2021-2027
10.1.1. Hospital
10.1.1.1. Market Revenue and Forecast (2016-2027)
10.1.2. Diagnostic Imaging Centers
10.1.2.1. Market Revenue and Forecast (2016-2027)
10.1.3. Dialysis Centers
10.1.3.1. Market Revenue and Forecast (2016-2027)
10.1.4. Ambulatory Surgical Centers
10.1.4.1. Market Revenue and Forecast (2016-2027)
10.1.5. Dental Clinics & Speciality Clinics
10.1.5.1. Market Revenue and Forecast (2016-2027)
10.1.6. Other End Users
10.1.6.1. Market Revenue and Forecast (2016-2027)
Chapter 11.Global Medical Equipment Maintenance Market, Regional Estimates and Trend Forecast
11.1. North America
11.1.1. Market Revenue and Forecast, by Device Type (2016-2027)
11.1.2. Market Revenue and Forecast, by Service Type (2016-2027)
11.1.3. Market Revenue and Forecast, by Technology (2016-2027)
11.1.4. Market Revenue and Forecast, By End User (2016-2027)
11.1.5. U.S.
11.1.5.1. Market Revenue and Forecast, by Device Type (2016-2027)
11.1.5.2. Market Revenue and Forecast, by Service Type (2016-2027)
11.1.5.3. Market Revenue and Forecast, by Technology (2016-2027)
11.1.5.4. Market Revenue and Forecast, By End User (2016-2027)
11.1.6. Rest of North America
11.1.6.1. Market Revenue and Forecast, by Device Type (2016-2027)
11.1.6.2. Market Revenue and Forecast, by Service Type (2016-2027)
11.1.6.3. Market Revenue and Forecast, by Technology (2016-2027)
11.1.6.4. Market Revenue and Forecast, By End User (2016-2027)
11.2. Europe
11.2.1. Market Revenue and Forecast, by Device Type (2016-2027)
11.2.2. Market Revenue and Forecast, by Service Type (2016-2027)
11.2.3. Market Revenue and Forecast, by Technology (2016-2027)
11.2.4. Market Revenue and Forecast, By End User (2016-2027)
11.2.5. UK
11.2.5.1. Market Revenue and Forecast, by Device Type (2016-2027)
11.2.5.2. Market Revenue and Forecast, by Service Type (2016-2027)
11.2.5.3. Market Revenue and Forecast, by Technology (2016-2027)
11.2.5.4. Market Revenue and Forecast, By End User (2016-2027)
11.2.6. Germany
11.2.6.1. Market Revenue and Forecast, by Device Type(2016-2027)
11.2.6.2. Market Revenue and Forecast, by Service Type (2016-2027)
11.2.6.3. Market Revenue and Forecast, by Technology (2016-2027)
11.2.6.4. Market Revenue and Forecast, By End User (2016-2027)
11.2.7. France
11.2.7.1. Market Revenue and Forecast, by Device Type (2016-2027)
11.2.7.2. Market Revenue and Forecast, by Service Type (2016-2027)
11.2.7.3. Market Revenue and Forecast, by Technology (2016-2027)
11.2.7.4. Market Revenue and Forecast, By End User (2016-2027)
11.2.8. Rest of Europe
11.2.8.1. Market Revenue and Forecast, by Device Type (2016-2027)
11.2.8.2. Market Revenue and Forecast, by Service Type (2016-2027)
11.2.8.3. Market Revenue and Forecast, by Technology (2016-2027)
11.2.8.4. Market Revenue and Forecast, By End User (2016-2027)
11.3. APAC
11.3.1. Market Revenue and Forecast, by Device Type (2016-2027)
11.3.2. Market Revenue and Forecast, by Service Type (2016-2027)
11.3.3. Market Revenue and Forecast, by Technology (2016-2027)
11.3.4. Market Revenue and Forecast, By End User (2016-2027)
11.3.5. India
11.3.5.1. Market Revenue and Forecast, by Device Type (2016-2027)
11.3.5.2. Market Revenue and Forecast, by Service Type (2016-2027)
11.3.5.3. Market Revenue and Forecast, by Technology (2016-2027)
11.3.5.4. Market Revenue and Forecast, By End User (2016-2027)
11.3.6. China
11.3.6.1. Market Revenue and Forecast, by Device Type (2016-2027)
11.3.6.2. Market Revenue and Forecast, by Service Type (2016-2027)
11.3.6.3. Market Revenue and Forecast, by Technology (2016-2027)
11.3.6.4. Market Revenue and Forecast, By End User (2016-2027)
11.3.7. Japan
11.3.7.1. Market Revenue and Forecast, by Device Type (2016-2027)
11.3.7.2. Market Revenue and Forecast, by Service Type (2016-2027)
11.3.7.3. Market Revenue and Forecast, by Technology (2016-2027)
11.3.7.4. Market Revenue and Forecast, By End User (2016-2027)
11.3.8. Rest of APAC
11.3.8.1. Market Revenue and Forecast, by Device Type (2016-2027)
11.3.8.2. Market Revenue and Forecast, by Service Type (2016-2027)
11.3.8.3. Market Revenue and Forecast, by Technology (2016-2027)
11.3.8.4. Market Revenue and Forecast, By End User (2016-2027)
11.4. MEA
11.4.1. Market Revenue and Forecast, by Device Type (2016-2027)
11.4.2. Market Revenue and Forecast, by Service Type (2016-2027)
11.4.3. Market Revenue and Forecast, by Technology (2016-2027)
11.4.4. Market Revenue and Forecast, By End User (2016-2027)
11.4.5. GCC
11.4.5.1. Market Revenue and Forecast, by Device Type (2016-2027)
11.4.5.2. Market Revenue and Forecast, by Service Type (2016-2027)
11.4.5.3. Market Revenue and Forecast, by Technology (2016-2027)
11.4.5.4. Market Revenue and Forecast, By End User (2016-2027)
11.4.6. North Africa
11.4.6.1. Market Revenue and Forecast, by Device Type (2016-2027)
11.4.6.2. Market Revenue and Forecast, by Service Type (2016-2027)
11.4.6.3. Market Revenue and Forecast, by Technology (2016-2027)
11.4.6.4. Market Revenue and Forecast, By End User (2016-2027)
11.4.7. South Africa
11.4.7.1. Market Revenue and Forecast, by Device Type (2016-2027)
11.4.7.2. Market Revenue and Forecast, by Service Type (2016-2027)
11.4.7.3. Market Revenue and Forecast, by Technology (2016-2027)
11.4.7.4. Market Revenue and Forecast, By End User (2016-2027)
11.4.8. Rest of MEA
11.4.8.1. Market Revenue and Forecast, by Device Type (2016-2027)
11.4.8.2. Market Revenue and Forecast, by Service Type (2016-2027)
11.4.8.3. Market Revenue and Forecast, by Technology (2016-2027)
11.4.8.4. Market Revenue and Forecast, By End User (2016-2027)
11.5. Latin America
11.5.1. Market Revenue and Forecast, by Device Type (2016-2027)
11.5.2. Market Revenue and Forecast, by Service Type (2016-2027)
11.5.3. Market Revenue and Forecast, by Technology (2016-2027)
11.5.4. Market Revenue and Forecast, By End User (2016-2027)
11.5.5. Brazil
11.5.5.1. Market Revenue and Forecast, by Device Type (2016-2027)
11.5.5.2. Market Revenue and Forecast, by Service Type (2016-2027)
11.5.5.3. Market Revenue and Forecast, by Technology (2016-2027)
11.5.5.4. Market Revenue and Forecast, By End User (2016-2027)
11.5.6. Rest of LATAM
11.5.6.1. Market Revenue and Forecast, by Device Type (2016-2027)
11.5.6.2. Market Revenue and Forecast, by Service Type (2016-2027)
11.5.6.3. Market Revenue and Forecast, by Technology (2016-2027)
11.5.6.4. Market Revenue and Forecast, By End User (2016-2027)
Chapter 12. Company Profiles
12.1. GE Healthcare
12.1.1. Company Overview
12.1.2. Product Offerings
12.1.3. Financial Performance
12.1.4. Recent Initiatives
12.2. Siemens Healthineers
12.2.1. Company Overview
12.2.2. Product Offerings
12.2.3. Financial Performance
12.2.4. Recent Initiatives
12.3. Koninklijke Philips N.V
12.3.1. Company Overview
12.3.2. Product Offerings
12.3.3. Financial Performance
12.3.4. Recent Initiatives
12.4. Drägerwerk AG & Co. KGaA
12.4.1. Company Overview
12.4.2. Product Offerings
12.4.3. Financial Performance
12.4.4. Recent Initiatives
12.5. Medtronic
12.5.1. Company Overview
12.5.2. Product Offerings
12.5.3. Financial Performance
12.5.4. Recent Initiatives
12.6. B. Braun Melsungen AG
12.6.1. Company Overview
12.6.2. Product Offerings
12.6.3. Financial Performance
12.6.4. Recent Initiatives
12.7. Aramark;
12.7.1. Company Overview
12.7.2. Product Offerings
12.7.3. Financial Performance
12.7.4. Recent Initiatives
12.8. BC Technical, Inc
12.8.1. Company Overview
12.8.2. Product Offerings
12.8.3. Financial Performance
12.8.4. Recent Initiatives
12.9. Alliance Medical Group
12.9.1. Company Overview
12.9.2. Product Offerings
12.9.3. Financial Performance
12.9.4. Recent Initiatives
12.10. Althea Group
12.10.1. Company Overview
12.10.2. Product Offerings
12.10.3. Financial Performance
12.10.4. Recent Initiatives
Chapter 13. Research Methodology
13.1. Primary Research
13.2. Secondary Research
13.3. Assumptions
Chapter 14. Appendix
14.1. About Us
14.2. Glossary of Terms
Cross-segment Market Size and Analysis for
Mentioned Segments
Additional Company Profiles (Upto 5 With No Cost)
Additional Countries (Apart From Mentioned Countries)
Country/Region-specific Report
Go To Market Strategy
Region Specific Market DynamicsRegion Level Market Share Import Export AnalysisProduction AnalysisOthers