Medical Equipment Calibration Services Market - Global Industry Analysis

Medical Equipment Calibration Services Market: Global Industry Analysis, Size, Share, Growth, Trends, and Forecast, 2020-2026

Category: Medical Device Report Format : PDF Report Code: ZMR-6771 Status : Upcoming

Description

Global Medical Equipment Calibration Services Market: Overview

Medical equipment calibration is a procedure that verifies whether the output of medical devices is according to the industry standards or not. Calibration is referred to as the comparison between the measurement with the help of medical instruments and standard measurements. This standard organization allows the accuracy ratio of 3:1. The quality assurance and regular calibration of medical devices also improve the functionality and shelf-life of the products. Wear and tear affects the accuracy, efficiency, and performance of the medical instruments; therefore, medical equipment calibration is highly recommended.

Report Scope:

Report Attribute Details
Base Year 2020
Historic Years 2016 - 2020
Forecast Years 2021 - 2028
Segments Covered By Product Type, By Application, and By End Use
Forecast Units Value (USD Billion), and Volume (Units)
Quantitative Units Revenue in USD million/billion and CAGR from 2021 to 2028
Regions Covered North America, Europe, Asia Pacific, Latin America, and Middle East & Africa, and Rest of World
Countries Covered U.S., Canada, Mexico, U.K., Germany, France, Italy, Spain, China, India, Japan, South Korea, Brazil, Argentina, GCC Countries, and South Africa, among others
Number of Companies Covered 10 companies with scope for including additional 15 companies upon request
Report Coverage Market growth drivers, restraints, opportunities, Porter’s five forces analysis, PEST analysis, value chain analysis, regulatory landscape, market attractiveness analysis by segments and region, company market share analysis, and COVID-19 impact analysis.
Customization Scope Avail customized purchase options to meet your exact research needs.

Global Medical Equipment Calibration Services Market: Growth Factors

One of the major factors accelerating the growth of the global medical equipment calibration services market is the growing stringent rules and regulations regarding the calibration of medical devices globally. Furthermore, the growing awareness regarding preventive medical equipment maintenance along with the first proliferating medical device sector all around the globe is likely to complement the growth rate. The growing trend of using refurbished medical equipment is posing a huge demand for medical equipment calibration services globally. In addition, the growing corporate investments in the healthcare sector are likely to create several lucrative growth opportunities in the global medical equipment calibration services market. The outbreak of the Covid-19 pandemic has significantly pressurized the healthcare sector, and thereby it has revolutionized the healthcare system massively. The maintenance of medical equipment has become essential than ever before. Apart from these, the UK medicines and healthcare products regulatory agency has issued certain mandates to manufacturers and laboratories who need external engineers for calibrating the medical equipment during the period of the Covid-19 pandemic. Furthermore, FDA also has a code of regulations for calibrating the parts of medical requirements like Section 72, QSR, 820, and certain others that help in testing, measuring, and inspecting certain parts of equipment. The growing research and development activities in the field of calibration services are likely to further steer the growth of the global medical equipment calibration services market. Also, medical equipment technology is becoming complex day by day, along with an increase in the incidences that recall the need for technology-related issues. The easy availability of tissue-mimicking 3D phantoms along with advancement in 3D printing technology is also expected to positively impact the trajectory of the market over the forecasted period.

Global Medical Equipment Calibration Services Market: Segmentation

The global medical equipment calibration services market can be segmented into end-user, services, and regions.

By end-user, the market can be segmented into clinical laboratories, hospitals, and others. The hospital segment accounts for the largest share in the global medical equipment calibration services market as the safety of patients has become a critical priority among hospitals globally. However, the clinical laboratory segment is likely to register a significant growth rate over the forecasted period due to the growing preference of vendors in the market to subscribe for a periodic or annual service plan that offers validation of all the instruments available in the laboratory.

By services, the market can be segmented into original equipment manufacturer (OEMs), third-party services, and in-house services. The third-party segment holds the largest share in the global medical equipment calibration services market due to the lower time taken for calibration. Also, it is difficult to arrange the environment for calibration in a lab or hospital.

Global Medical Equipment Calibration Services Market: Regional analysis

North America accounts for the largest share in the global medical equipment calibration services market due to the growing government regulations regarding the calibration of medical devices in hospitals and clinics. Also, the ongoing technological advancement in the region is likely to enhance and improve the quality and efficiency of products used in the procedures. In addition, there are a number of market players present in the region who are undertaking effective strategies to widen their customer base and fuel the demand for calibrating services.

Asia Pacific is expected to be the fastest-growing region in the global medical equipment calibration services market as several workshops and special programs are conducted to make professionals aware of calibrating services. In addition, the growing trend of medical tourism, particularly in growing economies like China and India, is expected to accentuate the growth of the regional market. The growing investments in fuelling the research and development activities in the region are likely to further propel the demand in the region.

Europe is likely to register the exponential growth rate over the forecasted period owing to the specialized cost being offered by several universities in the field of biomedical devices.

Global Medical Equipment Calibration Services Market: Competitive Players

Some of the significant players in the global medical equipment calibration services market are Hospicare Equipment Services Corp., TAG Medical, Jenn Medical, JM Test Systems, Transcat, Inc., NS Medical Systems, Biomedical Technologies Inc., Fluke Biomedical, and Tektronix.

Global Medical Equipment Calibration Services Market: Regional Segment Analysis

  • North America
    • The U.S.
    • Canada
  • Europe
    • France 
    • The UK
    • Spain
    • Germany
    • Italy
    • Rest of Europe
  • Asia Pacific
    • China
    • Japan
    • India
    • South Korea
    • Southeast Asia
    • Rest of Asia Pacific
  • Latin America
    • Brazil
    • Mexico
    • Rest of Latin America
  • Middle East & Africa
    • GCC
    • South Africa
    • Rest of Middle East & Africa

What Reports Provides

  • Full in-depth analysis of the parent market
  • Important changes in market dynamics
  • Segmentation details of the market
  • Former, on-going, and projected market analysis in terms of volume and value
  • Assessment of niche industry developments
  • Market share analysis
  • Key strategies of major players
  • Emerging segments and regional markets
  • Testimonials to companies in order to fortify their foothold in the market.

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FrequentlyAsked Questions

One of the major factors accelerating the growth of the global medical equipment calibration services market is the growing stringent rules and regulations regarding the calibration of medical devices globally.

 

Some of the significant players in the global medical equipment calibration services market are Hospicare Equipment Services Corp., TAG Medical, Jenn Medical, JM Test Systems, Transcat, Inc., NS Medical Systems, Biomedical Technologies Inc., Fluke Biomedical, and Tektronix.

 

North America accounts for the largest share in the global medical equipment calibration services market due to the growing government regulations regarding the calibration of medical devices in hospitals and clinics.

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