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Global Medical Equipment Maintenance Market to Grow at 7.4% During 2021-2026, Impelled by Adoption of Preventative Maintenance Approach

Published on May 13, 2021

According to the latest report by IMARC Group, titled “Medical Equipment Maintenance Market: Global Industry Trends, Share, Size, Growth, Opportunity and Forecast 2021-2026,” the global medical equipment maintenance market witnessed strong growth during 2015-2020. Medical equipment is instrumental in a healthcare setting for a wide range of purposes, including effective diagnosis of an ailment and the decision-making regarding the necessary treatment. As a result, their maintenance is essential for preserving and enhancing the accuracy and precision of the suggested procedure. Medical equipment maintenance ensures that the devices are error-free and functional by identifying the lifespan of various equipment, such as sphygmomanometers and magnetic resonance imaging (MRI) machines. It also involves frequency-schedule activities, repairs for out-of-service equipment, optimization, and setting maintenance intervals based on meaningful data. A proper maintenance regime ensures safe, accurate and reliable results and reduces the chances of device breakdown, thus enabling the delivery of effective healthcare management.

We are regularly tracking the direct effect of COVID-19 on the market, along with the indirect influence of associated industries. These observations will be integrated into the report.

Global Medical Equipment Maintenance Market Trends:

The increasing adoption of preventive maintenance approach to enhance the lifetime of medical equipment represents one of the key factors driving the market growth. In line with this, there is a growing need for operational medical equipment for various life-threatening disorders. This is further catalyzed by the sudden onset of the coronavirus disease (COVID-19), which has been declared as a pandemic and has an unprecedentedly high mortality rate. This, in turn, has created an imminent need for medical equipment maintenance to meet the healthcare needs in such uncertain times. Moreover, the rising purchase of renewed medical systems due to the associated cost-effectiveness is acting as another major growth-inducing factor. An overall increased emphasis on enhancing patient safety and delivering quality patient care and various technological innovations are some of the other factors creating a positive outlook for the market. Looking forward, the market is expected to exhibit a CAGR of around 7.4% during 2021-2026.

Market Summary:

  • On the basis of the device type, the market has been divided into imaging equipment, electromedical equipment, endoscopic devices, surgical instruments and others.
  • Based on the service type, the market has been classified into Preventive maintenance, corrective maintenance and operational maintenance.
  • On the basis of the end user, the market has been categorized into private-sector organizations and public-sector organizations.
  • Based on the service provider, the market has been classified into original equipment manufacturers, independent service organizations and in-house maintenance.
  • On the geographical front, the market has been segregated into North America (the United States and Canada), Europe (Germany, France, the United Kingdom, Italy, Spain, Russia and others), Asia Pacific (China, Japan, India, South Korea, Australia, Indonesia and others), Latin America (Brazil, Mexico and others), and Middle East and Africa
  • The competitive landscape of the market has been studied in the report with the detailed profiles of the key players. Some of these players include Alliance Medical Group (Life Healthcare Group), Althea Group, Aramark, B. Braun Melsungen AG, BC Technical Inc. (Alpha Source Inc.), Drägerwerk AG & Co. KGaA, FUJIFILM Holdings Corporation, HOYA Corporation, Koninklijke Philips N.V., Medtronic plc and Siemens AG.

 

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