One of the primary drivers such as increase of the healthcare industry, as well as the use of high-tech medical devices are fueling growth of the Global Managed Equipment Service (MES) Market
Covid-19 Impact & Market Status
COVID-19 has the potential to impact the global economy in three ways: directly impacting production and demand, causing supply chain and market disruption, and having a financial impact on enterprises and financial markets.
Covid-19 outbreak has been affecting multiple businesses and industries leading to interrupted travel, lockdown, social distancing and the like. These have restricted normal functioning of the businesses and resulted in supply chain anomalies, lack of business co-ordination across vendors and the like.
Multi-Vendor Service Product Segment is expected to grow at noteworthy growth rate during the Prediction Period
The market is divided into Single-Vendor Service and Multi-Vendor Service based on Product Type. By enhancing efficiency and making operations easier, multi-vendor helps you to save time and money. Customers do not have a varied range of items in a single vendor marketplace.
Hospital Segment is Likely to Register Significant Revenue during the Forecast Period
The market is divided into Hospitals, Healthcare Organizations, and others based on application. The hospital segment is expected to grow at noteworthy CAGR owing to increasing adoption of MES for the hospitals across the globe.
North American Region is expected to hold the Highest Revenues during the Predicted Period
Due to the region's robust expansion of Managed Equipment Service (MES) and growing demand for medical devices, pharmaceuticals, and research in these industries, North America is expected to lead the global market throughout the forecast period. Increasing government laws and severe quality control criteria imposed by regulatory bodies will force the healthcare business to choose robust support programmes if it is to remain competitive.
Manufacturers have found it more difficult to expand due to vast numbers of data from medical research, patient medical history, and other sectors such as clinical trials and biotechnology. Within Asia-otherwise Pacific's family-owned private healthcare company sectors, there is a cautious acceptance. The market for MES is also growing because to rising energy expenses, and the software helps firms drastically reduce ambient costs.
Managed Equipment Service (MES) market is expected to develop at a faster rate, having a stronger influence on the global economic structure. Because rising product demand, rising disposable incomes, new goods, abundant raw materials, and changing consumer technologies are all accelerating the market's development pace.
The practice of contracting out the duty for maintaining and predicting demand for a range of processes and tasks in order to enhance operations and save costs is known as managed services. It's a different approach to the break/fix or on-demand outsourcing model, in which the service provider delivers on-demand services and only costs the client for the work completed.
Managed equipment service is a one-of-a-kind partnership with a third-party supplier. It is in charge of all elements of medical equipment, including procurement, ownership, installation, provision, and maintenance, as well as asset management and training. Contracts with MES can continue anywhere from 10 to twenty-five years, and sometimes even longer.
The global Managed Equipment Service (MES) market is projected to grow at a CAGR of 11.2% during the prediction period.
The constant development as well as innovation of novel medical technology continues to assist healthcare organizations, providing them with expanded capabilities and a better degree of correctness in medical diagnostics and service conveyance. On the other hand, purchasing the most informed as well as cutting-edge equipment entails substantial capital expenses for the hospitals.
Furthermore, due to changing needs and demand for various healthcare services, medical equipment is rendered to be short-lived. Maintaining, procuring, and servicing the most informed medical equipment also needs in-depth technical knowledge in areas such as operation, product design, capabilities, and functions.
As a result, hospitals have major financial and technological challenges in retaining an in-house team of experts for maintenance, medical equipment purchase, and replacement. For healthcare firms, MES is one of the most effective means of procuring related services and medical equipment.
Furthermore, the sector is propelled forward by continuous innovation and the development of cutting-edge medical technology. Due to large amounts of data from patient medical histories, medical research, and other areas such as biotechnology and clinical trials, manufacturers have found it more difficult to expand.
The global Managed Equipment Service (MES) industry is very competitive and is anticipated to become even more so in the future years. However, the growing number of competitors is expected to boost overall market growth over the projection period. MES Group, Canon Medical, BCAS Biomed, Siemens, GE Healthcare, Philips Healthcare, Althea Group, Invensys, Syniverse, and Medi pass Healthcare are some of the key
Latest Innovations in the Global Managed Equipment Service (MES) Market: a Snapshot
- In 2017, Medipass expands its managed service in Leeds and the Medipass Healthcare's managed service ensures patients benefit from latest technology.
- Also, Siemens PET CT project signed new deal for the rapidly growing Indian side of Medipass. Equipment has already been delivered, ready for installation. This is an 8-year contract for a PET-CT service in the Medcare site in Mumbai.
- Medipass has acquired 100% of HTI’s medical equipment businesses in the UK. Medipass now provides all the radiotherapy and imaging equipment to two of the largest cancer centers in Europe.
This market research study was created by compiling data from primary and secondary sources. Secondary research was conducted using a variety of sources, including (but not limited to) SEC filings, company websites, technical journals, paid data sources, financial reports, and other industry publications. In addition, to acquire first-hand data, the research methodologies perform comprehensive primary research with important industry players. Industry specialists then examine and validate the data.
Managed Equipment Service (MES) Market Scope
|Forecast Unit||Value (USD)|
|Growth Rate||CAGR of 11.2% during 2021-2028|
|Segment Covered||Product, Application, Regions|
|Regions Covered||North America, Europe, Asia Pacific, South America, The Middle East and South Africa|
|Key Players Profiled||MES Group, Canon Medical, BCAS Biomed, Siemens, GE Healthcare, Philips Healthcare, Althea Group, Invensys, Syniverse, and Medi pass Healthcare are some of the key competitors operating in the global Managed Equipment Service (MES) market.|
Key Segments of the Global Managed Equipment Service (MES) Market
Product Overview, 2018-2028 (USD Million)
- Single-Vendor Service
- Multi-Vendor Service
Application Overview, 2018-2028 (USD Million)
- Healthcare Organizations
Regional Overview, 2018-2028 (USD Million)
- Rest of Europe
- Rest of Asia Pacific
- Rest of South America
The Middle East and South Africa