The global medical equipment maintenance market was valued at USD 31,303.2 million in 2019. Increase in purchase of refurbished medical equipment, growing focus on preventive maintenance of equipment, rise in growth of associated equipment markets across the globe are key factors driving the global medical equipment maintenance market.
Maintenance of medical equipment enable healthcare providers to track and monitor the condition of devices. This, in turn helps them to ensure efficient utilization and maximum uptime of the equipment. Increase in purchase of refurbished medical equipment, growing focus on preventive medical equipment maintenance, growing medical equipment markets are some of the key factors expected to drive the global medical equipment maintenance market in the next few years. However, high cost associated with the purchase and maintenance of advanced medical equipment will hamper the growth of the market in the coming years.
The size of the global market for Medical Equipment Maintenance is expected to reach US$ 101.2 Bn by 2029, expanding at a compound annual growth rate (CAGR) of 10.6%.
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The global medical equipment maintenance market is categorized based on device, service type, service provider, and region. Based on device, the global medical equipment maintenance market is categorized into imaging equipment, endoscopy equipment, surgical instruments, electromedical equipment and others. Imaging equipment is further segmented into X-ray, Ultrasound, CT scan, and MRI. Imaging equipment segment dominated the global market in 2019. Based on service type, preventive maintenance held a substantial share of the market and is anticipated to grow at a lucrative rate over the forecast period. Geographically, North America dominated the global medical equipment maintenance market in 2019, however, Asia Pacific is expected to be the fastest growing region by 2028.
Key players operating in the global medical equipment maintenance market include GE Healthcare, Siemens Healthineers, Koninklijke Philips N.V., Toshiba Medical Systems, Carestream Health, Inc., FUJIFILM Holdings Corporation, Drägerwerk AG & Co. KGaA, Aramark Services, Alliance Medical Group, Althea Group, BC Technical, Agfa-Gevaert Group among others.
Medical Equipment Maintenance Market Scope
| Metrics | Details |
| Base Year | 2022 |
| Historic Data | 2019-2020 |
| Forecast Period | 2022-2029 |
| Study Period | 2019-2029 |
| Forecast Unit | Value (USD) |
| Revenue forecast in 2029 | US$ 101.2 Bn |
| Growth Rate | CAGR of 10.6% during 2019-2029 |
| Segment Covered | by Device Type, by Service Type, by Service Provider, Regions |
| Regions Covered | North America, Europe, Asia Pacific, South America, Middle East and Africa |
| Key Players Profiled | Carestream Health, AGFA-Gevaert Group, Dragerwerk AG & Co. KGaA, Canon Inc., Medtronic, Hitachi Ltd, Olympus Corporation, Althea Group, Siemens AG, B. Braun Melsungen AG, Karl Storz GmbH & CO. KG, Fujifilm Holdings Corporation, Shimadzu Corporation, Alpha Source Inc., Samsung Medison Co. Ltd, HOYA Corporation Medipass Healthcare Limited Grupo Empresarial Electromdico, Aramark |
Key Segment Of The Medical Equipment Maintenance Market
by Device Type
• Advanced Modalities
• Primary Modalities
• Endoscopic Devices
• Surgical Instruments
• Electro medical Equipment
• Other Medical Equipment
by Service Type
• Preventive Maintenance
• Corrective Maintenance
• Operational Maintenance
by Service Provider
• Original Equipment Manufacturers
• Independent Service Organizations
• In-house Maintenance
by End-User
• Public-sector Organizations
• Private-sector Organizations
Regional Overview
North America
• US
• Canada
Europe
• Germany
• France
• UK
• Rest of Europe
Asia Pacific
• China
• India
• Japan
• Rest of Asia Pacific
South America
• Mexico
• Brazil
• Rest of South America
Middle East and South Africa
Frequently Asked Questions (FAQ) :
The major contenders in the global medical equipment maintenance market Carestream Health, AGFA-Gevaert Group, Dragerwerk AG & Co. KGaA, Canon Inc., Medtronic, Hitachi Ltd, Olympus Corporation, Althea Group, Siemens AG, B. Braun Melsungen AG, Karl Storz GmbH & CO. KG, Fujifilm Holdings Corporation, Shimadzu Corporation, Alpha Source Inc., Samsung Medison Co. Ltd, HOYA Corporation Medipass Healthcare Limited Grupo Empresarial Electromdico, Aramark
North America dominated the market for medical equipment maintenance market and accounted for the largest revenue share.
The Global medical equipment maintenance Market is Segmented on the basis of Device Service Type,End Use,Regions.
There is growing focus on preventive maintenance of medical equipment as the healthcare professionals seek to enhance patient safety and quality of care. The preventive maintenance approach is gaining popularity as scheduled inspections and medical equipment maintenance helps to avoid adverse medical device-related incidents. Moreover, regular maintenance services ensure safe, efficient, and long-lasting use of medical equipment. Thus, the growing adoption of preventive maintenance is expected to offer immense growth opportunities for service providers in the future. Moreover, there are numerous domestic and international industry players offering wide range of medical equipment maintenance equipment and services which will further boost market expansion in the coming few years.
The global medical equipment maintenance market has been segmented based on device, service type, service providers, and region. Based on device, the global medical equipment maintenance market is categorized into imaging equipment, endoscopy equipment, surgical instruments, electromedical equipment and others. Imaging equipment is further segmented into X-ray, Ultrasound, CT scan, and MRI. Imaging equipment such as MRI, CT scanners are widely used equipment for detection of chronic diseases. Moreover, high replacement costs of imaging equipment fuels the need for maintenance services for imaging equipment in order to ensure maximum equipment uptime.
On the basis of service type, preventive maintenance segment is anticipated to grow at a substantial rate over the coming few years. Preventive maintenance includes a pre-designed program where maintenance tasks are performed in a scheduled manner which enables to reduce costly repairs and helps in reducing equipment downtime. This, in turn enhances day-to-day operations and improves device reliability. Based on service provider, the global medical equipment maintenance market is segregated into original equipment manufacturers, independent service organizations, and in-house maintenance.
The global medical equipment maintenance market is cumulative to North America, Europe, Asia Pacific, Latin America and Middle East & Africa. North America dominated the global medical equipment maintenance market in 2019, however Asia Pacific is expected to grow at a highest pace through 2028.
Increase in incidence of chronic ailments, availability of funding to purchase advanced medical technologies for hospitals and healthcare providers along with rising surgical procedures in the region attributable to rapidly growing geriatric population suffering from chronic illnesses will drive the growth of medical equipment market. Furthermore, high adoption of advanced technology, well-established healthcare infrastructure, and presence of key industry players are other major factors likely to boost the growth of the market in North America.
However, Asia Pacific is expected to grow at a rapid pace over the next few years. There is a strong growth potential in the emerging economies such as India, and China. Presence of large patient pool in countries such as India and China along with increase in imaging equipment adoption will provide large market for medical equipment maintenance. High purchase of refurbished equipment along with increasing public and private funding for the development of healthcare facilities will further stimulate demand for medical equipment maintenance over the coming years.