Medical Equipment Maintenance Market Growth Outlook Through 2024-2033

Overview and Scope
Medical equipment maintenance refers to a set of activities conducted to keep the equipment in working condition. Medical equipment needs to be maintained in working order and periodically calibrated for the effectiveness and accuracy of the results.

Sizing and Forecast
The medical equipment maintenance market size has grown rapidly in recent years. It will grow from $36.47 billion in 2023 to $40.92 billion in 2024 at a compound annual growth rate (CAGR) of 12.2%. The growth in the historic period can be attributed to increased equipment complexity, rise in healthcare spending, focus on preventive maintenance, specialized service providers, quality and patient safety concerns.

The medical equipment maintenance market size is expected to see rapid growth in the next few years. It will grow to $64.09 billion in 2028 at a compound annual growth rate (CAGR) of 11.9%. The growth in the forecast period can be attributed to integration of predictive analytics, ongoing training and skill development, extended equipment longevity, emphasis on patient safety and quality care, demand for specialized service providers. Major trends in the forecast period include telehealth expansion, environmental sustainability, outsourcing maintenance services, shift to preventive maintenance, remote monitoring solutions.

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Segmentation & Regional Insights
The medical equipment maintenance market covered in this report is segmented –

1) By Service Type: Preventive Maintenance, Corrective Maintenance, Operational Maintenance
2) By Device: Imaging Equipment, Endoscopic Devices, Surgical Instruments, Electro-medical Equipment
3) By Technology: Multi-Vendor OEMs, Single-Vendor OEMs, Independent Service Organization, In-House Maintenance
4) By End User: Hospital, Diagnostic Imaging Centers, Dialysis Centers, Ambulatory Surgical Centers, Dental Clinics And Specialty Clinics, Other End Users

North America was the largest region in the medical equipment maintenance market in 2023. Asia-Pacific is expected to be the fastest-growing region in the forecast period. The regions covered in the medical equipment maintenance market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa.

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Major Driver Impacting Market Growth
The increase in demand for medical devices is significantly contributing to the growth of the medical equipment maintenance market. Medical devices are instruments, machines, and apparatus that are used for medical purposes to prevent, diagnose, or treat diseases. The rising demand for medical devices requires effective medical equipment maintenance services to lower dispatch costs, minimize patient dissatisfaction, ensure prompt patient treatment, and lower fatality and risk during patient care. For instance, according to the International Trade Administration and U.S. Department of Commerce report, the total production of medical devices and equipment in India reached $4,473 million in 2020, which is an increase compared to $2,390 million in 2019. Therefore, the increase in demand for medical devices is expected to propel the growth of the medical equipment maintenance market going forward.

Key Industry Players

Major companies operating in the medical equipment maintenance market report are McKesson Corporation, Cardinal Health, Johnson & Johnson, Hitachi Ltd., General Electric Co, Thermo Fisher Scientific Inc., Abbott Laboratories, Fujitsu Limited, Medtronic PLC, Danaher Corporation, Canon Inc., Toshiba International Corporation, Siemens Healthineers AG, FUJIFILM Holdings Corporation, Koninklijke Philips N.V., Stryker Corporation, Aramark Services Inc., Baxter International Inc., Laboratory Corporation of America Holdings Corp, Henry Schein Inc., Quest Diagnostics Incorporated, B. Braun Melsungen AG, Olympus Corporation, Dentsply Sirona Inc., Drägerwerk AG & Co KGaA, Hill-Rom Holdings Inc., Getinge AB, KARL STORZ SE & Co KG, Carestream Health Inc., Althea Group Holdings Ltd.

The medical equipment maintenance market report table of contents includes:

1. Executive Summary
2. Medical Equipment Maintenance Market Characteristics
3. Medical Equipment Maintenance Market Trends And Strategies
4. Medical Equipment Maintenance Market – Macro Economic Scenario
5. Global Medical Equipment Maintenance Market Size and Growth
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31. Medical Equipment Maintenance Market Other Major And Innovative Companies
32. Global Medical Equipment Maintenance Market Competitive Benchmarking
33. Global Medical Equipment Maintenance Market Competitive Dashboard
34. Key Mergers And Acquisitions In The Medical Equipment Maintenance Market
35. Medical Equipment Maintenance Market Future Outlook and Potential Analysis
36.Appendix

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