The Business Research Company’s report on the Medical Equipment Calibration Services Market provides insights into the global market size, growth rate, regional distribution, competitive landscape, key segments, emerging trends, and strategic opportunities.
What are the key drivers behind the medical equipment calibration services market’s growth in recent years?
Rising investment in healthcare infrastructure is expected to propel the growth of the medical equipment calibration service market going forward. The growth in healthcare infrastructure would provide better protection for public health. The medical equipment calibration service helps to ensure that the medical devices available are safe and effective. For instance, according to the Indian Brand Equity Foundation, an Indian-based government ministry, the healthcare market can increase threefold to USD 133.44 billion by 2022. In addition, according to the Centre for Medicaid & Medicare Services, in 2020 U.S. health care spending grew 9.7%, reaching $12,530 per person, or $4.1 trillion. Therefore, rising investment in healthcare infrastructure is driving the growth of the medical equipment calibration services market.
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How does the future projection of the medical equipment calibration services market size compare to its historical growth?
The medical equipment calibration services market size has grown rapidly in recent years. It will grow from $1.65 billion in 2024 to $1.83 billion in 2025 at a compound annual growth rate (CAGR) of 10.8%. The growth in the historic period can be attributed to global health preparedness, remote calibration services, patient-centric care, aging medical equipment, regulatory compliance.
The medical equipment calibration services market size is expected to see rapid growth in the next few years. It will grow to $2.74 billion in 2029 at a compound annual growth rate (CAGR) of 10.7%. The growth in the forecast period can be attributed to digital health expansion, eco-friendly calibration practices, preventive maintenance, clinical laboratory accreditation, patient safety. Major trends in the forecast period include telehealth equipment calibration, remote calibration support, digital calibration solutions, internet of things (iot)-enabled calibration, artificial intelligence (ai)-enhanced calibration.
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Which key players are shaping the future of the medical equipment calibration services market?
Major companies operating in the medical equipment calibration services market include Transcat Inc., Tektronix Inc., Fluke Biomedical LLC, Biomedical Technologies Inc., NS Medical Systems, JM Test Systems LLC, JPen Medical, TAG Medical Products, Hospicare Equipment Services Corp., Industrial Calibration and Service Co. Inc, RS Components Ltd., ERD LLC, Calibrationhouse, Autocal Systems Pvt. Ltd., Spectrum Technologies Inc., Custom Calibration Inc., Calibration Laboratory LLC., Morehouse Instrument Company Inc., Strainsert Inc., Sierra Instruments Inc., Medserve Ltd., Bureau Veritas S.A., Intertek Group Plc, Beamex Oy Ab, Trescal S.A., MicronPA, Unique BioMedical Services, DeviceLab Inc., EAG Laboratories, EdgeOne Medical Inc., Eurofins Scientific SE
What trends will propel the growth and evolution of the medical equipment calibration services market?
Strategic partnerships and collaborations are a key trend gaining popularity in the medical equipment calibration services market. Companies operating in medical equipment calibration services are undergoing partnerships to strengthen their position in the market. For instance, in April 2022, Ultimo, a US-based company that provides information technology services, partnered with Fluke Biomedical, a US-based medical equipment calibration services manufacturer. This partnership would aim to help healthcare organizations improve efficiency by minimizing the time that technicians spend on manual, paper-based, or repetitive tasks.
Which regions are expected to become dominant players in the medical equipment calibration services market?
North America was the largest region in the medical equipment calibration services market in 2024. Asia-Pacific is expected to be the fastest-growing region in the forecast period. The regions covered in the medical equipment calibration services market report include Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East and Africa.
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What are the emerging key segments in the medical equipment calibration services market, and how are they evolving?
The medical equipment calibration services market covered in this report is segmented –
1) By Service: In-house, Third-Party Services, Original Equipment Manufacturer (OEM)
2) By Equipment: Fetal Monitors, Imaging Equipment, Vital Sign Monitors, Infusion Pumps, Cardiovascular Monitors, Ventilators, Other Equipment
3) By End User: Hospitals, Clinical Laboratories, Other End Users
Subsegments:
1) By In-house: Internal Calibration Services, Preventive Maintenance And Calibration
2) By Third-Party Services: Independent Calibration Labs, On-Site Calibration Services
3) By Original Equipment Manufacturer (OEM): Manufacturer-Sponsored Calibration, OEM Warranty Calibration Services
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How is the medical equipment calibration services market defined, and what are its core characteristics?
Medical equipment calibration services refer to the method of configuring the measurement and the accuracy of the medical device or medical system being used in hospitals. They offer advanced healthcare treatment, including diagnosis, monitoring, and therapy. The medical equipment calibration services are used in hospitals for the maintenance of the medical equipment and to monitor the patients to offer the best services.
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