NEW
YORK, May 15, 2024 /PRNewswire/ -- The
global medical equipment maintenance market size is
estimated to grow by USD 39.29 bn
from 2023-2027, according to Technavio. The market is estimated to
grow at a CAGR of 12.01% during the forecast period.
For more insights on the forecast market size and
historic data (2017 - 2021) - Download
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Forecast
period
|
2023-2027
|
Base Year
|
2022
|
Historic
Data
|
2017 - 2021
|
Segment
Covered
|
Type (Healthcare
systems, Pharmaceutical diagnostics, and Others), End-user (Public
sector organizations and Private sector organizations), and
Geography (North America, Europe, Asia, and Rest of World
(ROW))
|
Region
Covered
|
North America, Europe,
Asia, and Rest of World (ROW)
|
Key companies
profiled
|
Agfa Gevaert NV,
AlphaSource Group, Althea Group S.p.A., Aramark, B Braun Melsungen
AG, Boston Scientific Corp., Canon Inc., Carestream Health Inc.,
Dragerwerk AG and Co. KGaA, Edwards Lifesciences Corp., FUJIFILM
Corp., General Electric Co., Hitachi Ltd., HOYA Corp., Koninklijke
Philips NV, Medtronic Plc, Samsung Electronics Co. Ltd., Siemens
AG, Stryker Corp., and Terumo Group
|
Key Market Trends Fueling Growth
The medical equipment maintenance market is experiencing growth
due to advancements in medical technologies and devices.
Regenerative medicine, surgical robots, liquid biopsy, and wearable
medical devices are transforming diagnosis and treatment.
Regenerative medicine utilizes 3D bioprinting for producing
therapeutic products, enabling researchers to study drug effects on
human tissues. Medical equipment, including ventilators from Canon
Medical, Vantage Fortian, and Agfa solutions, require preventive
maintenance for patient safety and care quality. Asset management
solutions, IoT, and biomedical engineers play crucial roles in this
market ecosystem. Diagnostic imaging equipment, dental equipment,
endoscopic devices, and surgical equipment are essential device
types in this sector.
Market Challenges
- * The global medical equipment maintenance market is
experiencing intense competition among key players and Original
Equipment Manufacturers (OEMs).
* The market is highly fragmented, with the presence of Tier I,
Tier II, and Tier III players, as well as a significant number of
OEMs.
* Established OEMs, such as Siemens AG, are entering the medical
equipment maintenance market, partnering with local suppliers to
offer affordable solutions to cost-conscious end-users.
* This competition may negatively impact market growth due to
pricing pressure and profit margin erosion for both key players and
OEMs.
* OEMs face entry barriers due to the existing market dominance of
key players.
* Medical equipment maintenance offers advantages such as cost
savings, improved equipment performance, and extended equipment
life.
* However, a major disadvantage is the high cost of leasing
equipment for an extended period, which is often higher than the
total cost of the equipment.
* The dominance of key players and the high cost of medical
equipment maintenance will hinder market growth during the forecast
period.
* Key players and OEMs are responding to this competition by
offering additional service support to generate recurring revenue
from end-users.
* The medical equipment maintenance market is expected to grow
despite these challenges, driven by factors such as increasing
healthcare expenditures, aging populations, and technological
advancements.
Research report provides comprehensive data on
impact of trend, driver and challenges - Buy
Report
Segment Overview
This medical equipment maintenance market report extensively
covers market segmentation by
- Type
- 1.1 Healthcare systems
- 1.2 Pharmaceutical diagnostics
- 1.3 Others
- End-user
- 2.1 Public sector organizations
- 2.2 Private sector organizations
- Geography
- 3.1 North America
- 3.2 Europe
- 3.3 Asia
- 3.4 Rest of World (ROW)
1.1 Healthcare systems- The Medical Equipment
Maintenance market segmentation by type encompasses dialysis
centers, where specialized medical devices require meticulous
upkeep. Patient epidemiology for chronic conditions such as cancer
and diabetes necessitates precise and accurate medical equipment.
The pipeline includes advanced medical devices like ventilators,
which are essential in critical care units. The regulatory
framework governs the import-export of medical devices, ensuring
compliance with trade regulations. In Extremadura Health Service
and other public health systems, medical manufacturing technologies
like balloon forming, thermal bonding, folding and pleating, and
stent crimping are utilized for the maintenance of various medical
equipment. Market hindrances include technical service centers and
domestic market players, while major medical manufacturing
technologies serve the needs of various medical devices, including
those used in imaging, such as computed tomography and nuclear
imaging. Canon Medical, Vantage Fortian, and Agfa solutions are
notable players in the imaging equipment market, catering to
lifestyle-related disorders and heart attack diagnoses.
For more information on market segmentation with
geographical analysis including forecast (2023-2027) and historic
data (2017 - 2021) - Download a Sample Report
Research Analysis
The Medical Equipment Maintenance Market encompasses the
preventive maintenance of medical devices used in healthcare
organizations, including imaging equipment such as Computed
Tomography (CT) scanners from Canon Medical and Vantage Fortian, as
well as Agfa solutions. OEMs (Original Equipment Manufacturers)
play a crucial role in ensuring the precision and accuracy of these
devices, adhering to the regulatory framework for medical devices.
The market caters to the maintenance needs of medical equipment
used in the management of chronic conditions like Cancer and
Diabetes, as well as lifestyle-related disorders. Ventilators are
another essential medical device requiring regular maintenance. The
market's growth is driven by the increasing prevalence of chronic
diseases and the need for precise and accurate medical equipment to
improve patient epidemiology.
Market Research Overview
The Medical Equipment Maintenance Market encompasses the
services and solutions dedicated to keeping medical devices in
optimal condition. These offerings ensure the longevity,
efficiency, and safety of healthcare equipment. The market is
driven by the increasing adoption of advanced medical technology,
the growing aging population, and the need for cost-effective
solutions. Various maintenance models, including preventive,
predictive, and corrective, are employed to cater to diverse client
requirements. Additionally, the integration of IoT and AI
technologies in maintenance processes enhances equipment
performance and reduces downtime. The market is expected to witness
significant growth in the coming years due to these factors.
Table of Contents:
1 Executive Summary
2 Market Landscape
3 Market Sizing
4 Historic Market Size
5 Five Forces Analysis
6 Market Segmentation
- Type
-
- Healthcare Systems
- Pharmaceutical Diagnostics
- Others
- End-user
-
- Public Sector Organizations
- Private Sector Organizations
- Geography
-
- North America
- Europe
- Asia
- Rest Of World (ROW)
7 Customer Landscape
8 Geographic Landscape
9 Drivers, Challenges, and Trends
10 Company Landscape
11 Company Analysis
12 Appendix
About Technavio
Technavio is a leading global technology research and advisory
company. Their research and analysis focuses on emerging market
trends and provides actionable insights to help businesses identify
market opportunities and develop effective strategies to optimize
their market positions.
With over 500 specialized analysts, Technavio's report library
consists of more than 17,000 reports and counting, covering 800
technologies, spanning across 50 countries. Their client base
consists of enterprises of all sizes, including more than 100
Fortune 500 companies. This growing client base relies on
Technavio's comprehensive coverage, extensive research, and
actionable market insights to identify opportunities in existing
and potential markets and assess their competitive positions within
changing market scenarios.
Contacts
Technavio Research
Jesse Maida
Media & Marketing Executive
US: +1 844 364 1100
UK: +44 203 893 3200
Email: media@technavio.com
Website: www.technavio.com/
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