Categories: Healthcare

Medical Equipment Maintenance Market Size & Share

The Medical Equipment Maintenance Global Market Report 2023 by The Business Research Company, provides medical equipment maintenance market overview across 60+ geographies in the seven regions – Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa for the 27 major global industries. The report covers a ten-year historic period – 2010-2021, and a ten-year forecast period – 2023-2032.

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According to The Business Research Company’s Medical Equipment Maintenance Global Market Report 2023, the market size is expected to grow from $32.55 billion in 2022 to $37.31 billion in 2023 at a compound annual growth rate (CAGR) of 14.6%. The Russia-Ukraine war disrupted the chances of global economic recovery from the COVID-19 pandemic, at least in the short term. The war between these two countries has led to economic sanctions on multiple countries, a surge in commodity prices, and supply chain disruptions, causing inflation across goods and services and affecting many markets across the globe. The market size of the global medical equipment maintenance is expected to grow to $56.03 billion in 2027 at a CAGR of 10.7%.

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.

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The medical equipment maintenance market 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 Centres, Dialysis Centres, Ambulatory Surgical Centres, Dental Clinics And Speciality Clinics, Other End Users

Strategic partnerships and collaborations are shaping the medical equipment maintenance market. For instance, in February 2021, Siemens Healthineers, a Germany-based medical technology company, and the Kantonsspital Baden (KSB), a Switzerland-based hospital formed a technological and strategic partnership for eight years. This partnership aims to help Kantonsspital Baden to expand its capabilities, optimize business processes, and advance innovation. It includes maintenance of medical imaging systems, technology needs, and capacity assessment, holistic technology management, process optimization, expansion of telemedicine solutions, and certified employee training programs. Additionally, in March 2021, Agiliti, a US-based medical equipment management company acquired Northfield Medical, a US-based company that offers repairing and maintenance services for surgical instruments for $475 million. Through this acquisition, Northfield Medical offers medical device care and repair, with a focus on surgical instruments, endoscopes, and other operating room equipment.

The medical equipment maintenance market report table of contents includes: