Medical Equipment Maintenance Market , 33% of Growth to Originate from North America, Technavio

NEW YORK, Dec. 14, 2024 /PRNewswire/ -- The global medical equipment maintenance market size is estimated to grow by USD 51.2 billion from 2024 to 2028, according to Technavio. The market is estimated to grow at a CAGR of 13.64% during the forecast period.

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Region Outlook

1. North America
2. Europe
3. Asia
4. Rest of World

1. North America - North America is estimated to contribute 33%. To the growth of the global market. The Medical Equipment Maintenance Market report forecasts market growth by revenue at global, regional & country levels from 2017 to 2027. 

The US is the leading market for medical equipment maintenance in North America, accounting for the largest revenue share. As the world's largest consumer of medical equipment, the US dominates the global market with an annual growth rate of 14.4%, increasing the total value of imports and exports from USD2,028 billion in 2019 to USD2,654 billion in 2021 (WTO data). Traditional export markets for US medical equipment maintenance include EU countries and Japan. The US, being the largest medical equipment market, is expected to maintain its market dominance throughout the forecast period.

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Segmentation Overview

1. Type 
• 1.1 Healthcare systems
• 1.2 Pharmaceutical diagnostics
• 1.3 Others
2. End-user 
• 2.1 Public sector organizations
• 2.2 Private sector organizations
3. Geography 
• 3.1 North America
• 3.2 Europe
• 3.3 Asia
• 3.4 Rest of World (ROW)

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1.1 Fastest growing segment:

The healthcare systems segment is a significant market focusing on maintenance services for medical equipment in hospitals and ambulatory surgical centers (ASCs). Hospitals rely on meticulous maintenance for diagnostic imaging devices like X-ray machines, CT scanners, and MRI machines, as well as life support systems such as ventilators and anesthesia machines. ASCs require upkeep for endoscopy equipment, surgical instruments, and monitoring devices to ensure optimal patient care. Vendors like Siemens Healthineers offer comprehensive maintenance services, including preventive care, calibration, and repairs. Notable collaborations, such as Anregiomed's ten-year agreement with Siemens Healthineers and Drager, demonstrate the importance of these partnerships in maintaining reliable medical equipment and driving growth in the healthcare systems segment. Belfast Health and Social Care Trust's 20-year Value Partnership with Siemens Healthineers further this trend. These collaborations ensure access to advanced technology and contribute to improved healthcare outcomes.

Research Analysis

The Medical Equipment Maintenance Market is a significant sector within the healthcare industry, focusing on ensuring the optimal performance and longevity of medical devices. OEMs (Original Equipment Manufacturers) play a crucial role in providing maintenance services for their medical equipment, while healthcare organizations rely on these services to maintain precision and accuracy in patient care. Preventive maintenance is a key strategy to minimize downtime and ensure the continued functionality of medical devices. Patient epidemiology, including chronic conditions such as cancer and diabetes, as well as lifestyle disorders, drive the demand for medical equipment maintenance. The pipeline for new medical devices, including imaging equipment like Computed Tomography (CT) scanners from Canon Medical and Agfa Solutions, requires ongoing maintenance to meet regulatory frameworks and deliver accurate results. With the increasing prevalence of chronic diseases and lifestyle-related disorders, the medical equipment maintenance market is expected to grow significantly in the coming years.

Market Overview

The Medical Equipment Maintenance Market encompasses various types of equipment used in healthcare settings, including diagnostic imaging procedures such as computed tomography and nuclear imaging, as well as dental, endoscopic, surgical, laboratory, ophthalmology equipment, medical lasers, electrosurgical equipment, radiotherapy devices, and durable medical equipment. OEMs (Original Equipment Manufacturers) play a crucial role in supplying these devices, with healthcare organizations relying on them for both preventive maintenance and repairs. Asset management solutions, IoT (Internet of Things), and biomedical engineers are integral to maintaining the precision and accuracy of these devices, ensuring patient safety and care quality. The market ecosystem includes multi-vendor and single-vendor OEMs, service providers, ISOs (Independent Service Organizations), and hospitals and dialysis centers. The patient epidemiology, with a focus on chronic conditions like cancer and diabetes, and lifestyle disorders, drives the demand for medical equipment maintenance. The market is subject to regulatory frameworks and trade regulations, and domestic market players often face hindrances in import-export. Medical manufacturing technologies, such as balloon forming, thermal bonding, folding and pleating, and stent crimping, are essential in producing high-quality medical equipment. Ventilators, Canon Medical's Vantage Fortian, Agfa solutions, and other diagnostic imaging equipment are key devices in the market.

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Key Topics Covered:

 1 Executive Summary
 2 Market Landscape
 3 Market Sizing
 4 Historic Market Size
 5 Five Forces Analysis
 6 Market Segmentation
 7 Customer Landscape
 8 Geographic Landscape
 9 Drivers, Challenges, and Trends
10 Venodr Landscape
11 Vendor Analysis
12 Appendix

About Technavio

Technavio is a leading global technology research and advisory company. Their research and analysis focuses on emerging market trends and provides actionable insights to help businesses identify market opportunities and develop effective strategies to optimize their market positions.

With over 500 specialized analysts, Technavio's report library consists of more than 17,000 reports and counting, covering 800 technologies, spanning across 50 countries. Their client base consists of enterprises of all sizes, including more than 100 Fortune 500 companies. This growing client base relies on Technavio's comprehensive coverage, extensive research, and actionable market insights to identify opportunities in existing and potential markets and assess their competitive positions within changing market scenarios.

Contacts

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Website: www.technavio.com/

SOURCE Technavio