Global Medical Equipment Maintenance Market is Expected to Foresee Significant Growth During the Forecast Period. North America to Witness the Highest Growth

Global medical equipment maintenance market is expected to grow significantly by 2027 expanding at a reasonable CAGR of around 10% during the forecast period (2021-2027). Maintenance of the medical device ensures that the device is error-free and functions correctly. This includes determining the life of a device, from small devices such as sphygmomanometers to complex devices such as magnetic resonance imaging (MRI) devices. It also describes the frequency of activities, repairing out-of-service equipment, optimization, and setting maintenance intervals based on meaningful data.

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The global medical equipment maintenance market is anticipated to witness an uptick with the development of social society leading to changes in diet and other lifestyles. This along with the rapidly growing aging population across the globe is causing an increase in the number of patients having various chronic diseases such as cardiovascular diseases, cancer, diabetes, etc. For instance, around 18 million Americans aged 20 and above have heart disease and nearly 650,000 Americans die of heart disease each year. Owing to these glaring statistics, there is a growing use of various medical devices among the end-user industries which in turn is driving the demand for medical equipment maintenance is anticipated to grow in the forthcoming years. Furthermore, the advancement in technology, increasing patient ratio, and various benefits associated with the use of medical equipment maintenance such as reducing error, calibration, and reduced risks of contamination have also led to the growing adoption of the medical equipment market.

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Based on device type, the market is segmented into imaging equipment, advanced modalities, surgical instruments, endoscopic devices, and electromedical equipment. The imaging equipment segment grabbed an XX% share of the global medical equipment maintenance market and will witness a considerable CAGR of XX% during the forecast period (2021-2027F) as the rise in diagnostic procedures and increasing usage of various imaging devices.

Based on the service type, the global medical equipment maintenance market is segmented into preventative maintenance, corrective maintenance, and operational maintenance. The preventive maintenance segment occupied a substantial share and is expected to grow at a CAGR of XX% during the forecast period 2021-2027 owing to the periodic inspections to ensure safety and to avoid costly repairs in the future.

Additionally, the report provides detailed report also provides insights into the global medical equipment maintenance market according to the regions such as North America (United States, Canada, and the Rest of North America), Europe (Germany, France, Italy, Spain, United Kingdom, and Rest of Europe), Asia-Pacific (China, India, Australia, Japan, and Rest of APAC), Rest of World has been conducted. North America dominated the market and generated revenue of USD XX billion in 2020 owing to the increasing chronic disorders and rising geriatric population.

GE Healthcare, Koninklijke Philips N.V., Toshiba Medical System Corporation, FUJIFILM Holdings Corporation, Carestream Health, Agfa-Gevaert Group, Hitachi Medical Corporation, Drägerwerk AG & Co. KGaA, Olympus Corporation, Althea Group are some of the key players operating in the global medical equipment maintenance market. Several M&As along with partnerships have been undertaken by these players to facilitate maintenance services.
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Global Medical equipment maintenance Market Segmentation

Market Insight, by Device Type

• Imaging Equipment
• Advanced Modalities
• Surgical Instrumentation
• Endoscopic Device
• Electromedical Equipment

Market Insight, by Service Type

• Preventive Maintenance
  • Corrective Maintenance
  • Operational Maintenance

Market Insight, by End-Users

Market Insight, by Region

• North America
  • United States
  • Canada
  • Rest of North America
• Europe
  • France
  • Germany
  • Italy
  • Spain
  • United Kingdom
  • Rest of Europe
• Asia-Pacific
  • China
  • India
  • Australia
  • Japan
  • Rest of Asia-Pacific
• Rest of World

Top Company Profiles

• GE Healthcare
  • Koninklijke Philips N.V.
  • Toshiba Medical System Corporation
  • FUJIFILM Holdings Corporation
  • Carestream Health
  • Agfa-Gevaert Group
  • Hitachi Medical Corporation
  • Drägerwerk AG & Co. KGaA
  • Olympus Corporation
  • Althea Group