Medical Equipment Calibration Services Market to Surpass US$ 2,809.3 Million by 2030 - Coherent Market Insights

SEATTLE, May 16, 2022 /PRNewswire/ -- According to Coherent Market Insights, the global medical equipment calibration services market is estimated to be valued at US$ 1,326.9 million in 2022 and is expected to exhibit a CAGR of 9.8% over the forecast period (2022-2030).

Key Trends and Analysis of the Global Medical Equipment Calibration Services Market:

Key trends in the market include growing demand for calibration services, technological advancements in calibration services, increasing service launches by key players, and rising demand for refurbished medical devices. These key trends are expected to aid in growth of the global medical equipment calibration services market.

For instance, JobRouter Digital Process Automation platform developed by JobRouter AG, a Germany based software company is used by medical device manufacturers for automation of inventory process as well as tracking scheduled calibration of their measurement equipment.

Moreover, increasing launch of new schemes by the government for ensuring safety of medical device safety are expected to increase the demand for calibration services and drive the market growth over the forecast period. For instance, in June 2021, the Quality Council of India (QCI), and the Association of Indian Manufacturers of Medical Devices (AiMeD) announced the launch of a new scheme called ICMED 13485 (Indian Certification of Medical Devices Scheme for verification of quality, safety, and efficacy of medical devices.

Furthermore, key players operating in the global medical equipment calibration services market are focusing on providing annual calibration services for customer satisfaction, in order to expand their market presence in the global market. For instance, RaySafe, a Sweden based manufacturer of radiographic imaging devices offers worldwide annual calibration services for their medical test and radiation measurement equipment. RaySafe also offers the benefits of extended hardware warranty, software updates, etc. in addition to its calibration service program.

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Key Market Takeaways:

The global medical equipment calibration services market is expected to exhibit a CAGR of 9.8% over the forecast period, owing to rising launches of medical devices along with periodic calibrations service provided by the medical device manufacturer. For instance, in December 2020, Tektronix, Inc., a U.S. based manufacturer of test and measurement devices announced the launch of its oscilloscope-to-cloud software solution called TekDrive which comes with extended service and calibration options. An oscilloscope can be used to monitor brain activity, muscle activity, and heart activity.

Among end user, hospitals & clinics segment is expected to account for the largest market share in 2022, owing to the presence of large number of medical devices which require periodic calibrations for proper functioning. For instance, according to an article published by the Journal of Biomedical Physics and Engineering, an international peer-reviewed biomedical publication in April 2019, an average to large sized hospital contains more than 10,000 different types of medical devices such as Electrosurgical units (ESU), Defibrillators Equipment, Infusion Pumps Equipment, and others, which require regular quality testing and calibration for ensuring proper functioning of the medical device.

Key players operating in the global medical equipment calibration services market include Tektronix, Inc., NS Medical Systems, Fluke, Transcat, Inc., Helix Private Limited, Spectrum Technologies, JM Test Systems, Micron, JPen Medical, Industrial Calibration and Service Company, Inc., DD Group, Seal Calibration, Hospicare Equipment Services Corporation, ERD, LLC., Aussin, Calibrationhouse, Obelis UK Ltd, Autocal Systems, Forest Medical UK LTD, and Medisave UK Ltd.

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Detailed Segmentation:

Global Medical Equipment Calibration Services Market, By Service Type:

• In-house
• Original Equipment Manufacturer (OEM)
• Third-party Services

Global Medical Equipment Calibration Services Market, By End User:

• Hospitals & Clinics
• Diagnostic Laboratories
• Others (Specialty Centre, among others)

Global Medical Equipment Calibration Services Market, By Region:

• North America
• By Country:
• U.S.
• Canada
• Europe
• By Country:
• U.K.
• Germany
• Italy
• France
• Spain
• Russia
• Rest of Europe
• Asia Pacific
• By Country:
• China
• India
• Japan
• ASEAN
• Australia
• South Korea
• Rest of Asia Pacific
• Latin America
• By Country:
• Brazil
• Mexico
• Argentina
• Rest of Latin America
• Middle East & Africa
• By Country:
• GCC Countries
• Israel
• South Africa
• Rest of Middle East & Africa

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SOURCE Coherent Market Insights