Overview –
The global medical equipment maintenance is essential for preserving the item and ensuring its operational efficiency and accuracy. Healthcare equipment is very expensive and sophisticate, thus routine maintenance is require. Apart from that, it plays an important function in device calibration and contamination prevention.
These reasons, as well as the growing need for technologically improve healthcare equipment, are driving the worldwide healthcare equipment maintenance market forward. The global market is expects to increase at a faster rate over the forecast period of 2020-2030, according to Fact MR. The market for medical equipment maintenance is expects to reach over US$ 60 billion by the end of the forecast period, owing to its importance in the healthcare industry.
Several factors contribute to this growth, including increase knowledge of medical equipment preventive maintenance, more funding for novel technologies, and increase sales of use medical equipment, among others. Over the next decade, rising safety awareness and increase demand for medical equipment are expects to drive the worldwide medical equipment maintenance market.
COVID 19 Impact –
The COVID 19 epidemic has had an influence on enterprises all over the world. During the pandemic, the medical equipment repair industry work tirelessly to ensure that critical devices like ventilators functions properly.
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Despite obstacles as social distance standards were severely enforce, the industry continue to operate throughout the critical period. As lockdowns were impose around the world, issues such as a lack of labor and transportation limitations hinder market operations.
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Market Trends, Drivers, Restraints, and Opportunities:
- Increasing use of preventive maintenance in healthcare settings to extend the life of medical devices is expected to boost the market.
- Rapid technical developments in medical equipment and growing demand for continuous learning and maintenance are propelling the market.
- Rising need for continuous monitoring is anticipated to drive the market in the coming years.
- Rising innovations in the service sector, such as offering services through IoT devices and remote guidance are expected to increase the demand for medical equipment maintenance.
- High cost associated of medical equipment maintenance and lack of skilled professionals are expected to hinder the market during the forecast period.
- Increasing focus on the healthcare industry across the globe is expected to offer lucrative opportunities for key players in the coming years.
Segment Insights –
Based on the device type, the market is divided into diagnostic imaging equipment, electrosurgical equipment, endoscopic devices, surgical equipment, medical lasers, ophthalmology equipment, patient monitoring & life support devices, dental equipment, laboratory equipment, durable medical equipment, and radiotherapy devices. The diagnostic imaging equipment segment is expected to account for a key share of the market during the forecast period due to the rising use of diagnostic imaging technology for minimally invasive surgeries and dentistry.
In terms of service type, the medical equipment maintenance market is segregated into preventive maintenance, corrective maintenance, and operational maintenance. The preventive segment is projected to account for a considerable share of the market during the forecast period. Service providers are likely to benefit from the rising focus on implementing preventative maintenance practices among healthcare organizations in the coming years.
Companies Key Players –
Boston Scientific Corporation
Stryker
Medtronic
Edward Lifesciences Corporation
Johnson & Johnson Services, Inc.
Abbott
Terumo Corporation
B. Braun Melsungen AG
Aramark
Althea Group
By Type –
Electromedical Equipment
Endoscopic Devices
Surgical Instruments
Other Medical Equipment
By Application –
Preventive Maintenance
Corrective Maintenance
Operational Maintenance
By Region –
North America
Europe
Asia Pacific
South America
Middle East & Africa