Medical Equipment Maintenance Market Size, Share, Trends And Growth Report 2032

Medical Equipment Maintenance Market

Medical Equipment Maintenance Market By Service Type (Preventive, Operational, And Corrective), By Device Type (Electromedical Equipment, Imaging Equipment, Surgical Instruments, Endoscopic Devices, And Other Medical Equipment), By Service Provider (Original Equipment Manufacturers, Independent Service Organizations, And In-House Maintenance), And By End-User (Hospitals, Ambulatory Surgical Centers, Diagnostic Centers, And Others), And By Region - Global And Regional Industry Overview, Market Intelligence, Comprehensive Analysis, Historical Data, And Forecasts 2024–2032

Category: Medical Device Report Format : PDF Pages: 110 Report Code: ZMR-3657 Published Date: Dec-2018 Status : Published
Market Size in 2023 Market Forecast in 2032 CAGR (in %) Base Year
USD 47.57 Billion USD 118.18 Billion 10.64% 2023

Medical Equipment Maintenance Market

The global medical equipment maintenance market size was worth around USD 47.57 billion in 2023 and is predicted to grow to around USD 118.18 billion by 2032 with a compound annual growth rate (CAGR) of roughly 10.64% between 2024 and 2032.

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Medical Equipment Maintenance Market: Overview

Medical equipment maintenance is the practice of regularly inspecting and repairing healthcare facilities' medical equipment to guarantee its continued safe and effective use. It entails routine checks, cleaning, calibration, and modifications to keep things running well and avoid breakdowns. In order to fix or replace broken equipment as soon as possible, corrective maintenance is also crucial. In order to provide an accurate diagnosis and administer the right medicine, it is crucial to calibrate the device. To ensure the reliability of the equipment and the safety of the patients, it is necessary to conduct regular inspections to check its components, electrical safety, and software performance. Healthcare facilities can keep medical equipment running smoothly and for longer with a well-planned maintenance program, which also reduces the possibility of breakdowns and other interruptions to patient care.

Effective medical device maintenance is required to have safe, reliable, and accurate test results for diagnostic procedures, patient monitoring therapy, and to avoid device breakdown. Medical equipment maintenance can be preventive, corrective, or operational. Adequate equipment maintenance planning, management, and implementation are essential for any healthcare facility to provide better health services and comply with the necessary regulatory requirements.

In order to give the users of this report a comprehensive view of the medical equipment maintenance market, we have included a competitive landscape and an analysis of Porter’s Five Forces model for the market. The study encompasses a market attractiveness analysis, wherein all the segments are benchmarked based on their market size, growth rate, and general attractiveness.

The report provides company market share analysis to give a broader overview of the key players in the global medical equipment maintenance market. In addition, the report also covers key strategic developments of the market including acquisitions & mergers, new product launch, agreements, partnerships, collaborations & joint ventures, research & development, and regional expansion of the major participants involved in the medical equipment maintenance market on a global and regional basis.

Medical Equipment Maintenance Market: Growth Drivers

The worldwide demand for medical equipment is growing rapidly, owing to the increasing prevalence of life-threatening diseases. Preventive maintenance is widely accepted to maintain proper functioning and accidental breakdown of equipment. Thus, the growing focus on preventive maintenance is likely to drive the market. Technologically advanced and high costs of medical equipment are projected to drive the demand for refurbished medical equipment. Wide acceptance and consumption of refurbished medical equipment, in turn, is anticipated to drive the medical equipment maintenance market. Increasing installations of new and advanced medical equipment in hospitals, clinics, diagnostic centers, etc., are likely to further drive the medical equipment maintenance market in the future. Additionally, the high burden of chronic disorders and the increase in the aging population are other factors likely to indirectly contributing toward the medical equipment maintenance market. However, high maintenance cost might hamper the market for medical equipment maintenance market. Nevertheless, the increasing service offerings and the use of the internet of things are likely to create further growth opportunities for the medical equipment maintenance market globally.

The medical equipment maintenance market is anticipated to experience expansion from 2024 to 2032 due to a number of factors. The rising complexity and variety of healthcare equipment is one of the main factors propelling the industry forward. Healthcare facilities depend on a diverse range of specialized equipment to provide high-quality care. This equipment includes imaging systems, diagnostic tools, surgical instruments, and patient monitoring equipment. To keep this equipment running well and uninterrupted, thorough maintenance plans are necessary.

In addition, medical equipment must be tested and maintained on a regular basis to guarantee it meets quality and safety standards as required by regulations and certification criteria. Software solutions and preventative maintenance plans are becoming more popular among healthcare providers as a means to better manage documentation, show regulatory compliance during inspections and audits, and keep tabs on when equipment needs maintenance.

Innovation in the medical equipment maintenance market is being propelled by the adoption of technology-enabled maintenance solutions including condition-based maintenance, predictive analytics, and remote monitoring. Healthcare providers may maximize equipment performance, reduce downtime, and minimize maintenance costs with the help of these innovative tools and procedures that enable proactive equipment monitoring, early defect identification, and predictive maintenance planning.

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Medical Equipment Maintenance Market: Segmentation

The study provides a decisive view of the medical equipment maintenance market by segmenting the market based on service type, device type, service provider, end-user, and region. The segments have been analyzed based on present and future trends and the market is estimated from 2024 to 2032.

By service type, the market is categorized into preventive maintenance, operational maintenance, and corrective maintenance.

By device type, the market is segmented into endoscopic devices, imaging equipment, electromedical equipment, surgical instruments, and other medical equipment. Imaging equipment segment is sub-segmented into advanced imaging modalities and primary imaging modalities. Advanced imaging modality segment is sub-categorized into computed tomography (CT), Magnetic resonance imaging (MRI), and other advanced medical imaging modalities, such as angiography systems, PET-CT, PET, SPECT-CT, gamma cameras, etc. The primary imaging modalities include digital X-ray, ultrasound, and other modalities, such as mammography systems, general X-ray systems, bone densitometers, etc.

By service provider, the market is segmented into independent service organizations, original equipment manufacturers, and in-house maintenance.

The end-user segment of the medical equipment maintenance market comprises hospitals, diagnostic centers, ambulatory surgical centers, and other end-users.

Medical Equipment Maintenance Market: Report Scope

Report Attributes Report Details
Report Name Medical Equipment Maintenance Market Research Report
Market Size in 2023 USD 47.57 Billion
Market Forecast in 2032 USD 118.18 Billion
Growth Rate CAGR of 10.64%
Number of Pages 214
Key Companies Covered Siemens Healthineers, GE Healthcare, Koninklijke Philips N.V., Toshiba Medical System Corporation, Carestream Health Inc., FUJIFILM Holdings Corporation, Agfa-Gevaert Group, Hitachi Medical Corporation, Drägerwerk AG & Co. KGaA, Aramark Services Inc., Olympus Corporation, Althea Group, BC Technical Inc., and B. Braun Melsungen AG, among others.
Segments Covered By Service, By Device, By Service Provider, By End-User, And By Region
Regions Covered North America, Europe, Asia Pacific (APAC), Latin America, Middle East, and Africa (MEA)
Base Year 2023
Historical Year 2018 to 2022
Forecast Year 2024 - 2032
Customization Scope Avail customized purchase options to meet your exact research needs. Request For Customization

Medical Equipment Maintenance Market: Regional Analysis

The regional segmentation includes the current and forecast demand for North America, Europe, Asia Pacific, Latin America, and the Middle East and Africa with its further division into major countries including the U.S. Canada, Germany, France, UK, China, Japan, India, and Brazil. 

North America held highest revenue share of the global medical equipment maintenance market in 2023 and is expected to maintain its leading position in the forecast time period as well. This was due to the increasing focus to avoid equipment breakdown. Europe was the second largest global medical equipment maintenance market in 2023, while the Asia Pacific was an emerging regional market. Huge acceptance of medical equipment maintenance activities to avoid breakdown is likely to drive the European market for medical equipment maintenance. Increasing geriatric population base and a large population base with life-threatening diseases in the Asia Pacific region are likely to contribute toward this regional market.

Medical Equipment Maintenance Market: Competitive Analysis

  • Siemens Healthineers
  • GE Healthcare
  • Koninklijke Philips N.V.
  • Toshiba Medical System Corporation
  • Carestream Health Inc.
  • FUJIFILM Holdings Corporation
  • Agfa-Gevaert Group
  • Hitachi Medical Corporation
  • Drägerwerk AG & Co. KGaA
  • Aramark Services Inc.
  • Olympus Corporation
  • Althea Group
  • BC Technical Inc.
  • B. Braun Melsungen AG
  • Others

This report segments the global medical equipment maintenance market into:

By Service

  • Preventive Maintenance
  • Corrective Maintenance
  • Operational Maintenance

By Device

  • Imaging Equipment
    • Advanced Imaging Modalities
      • Computed tomography(CT)
      • Magnetic Resonance Imaging (MRI)
      • Other Advanced Medical Imaging Modalities (SPECT-CT, PET-CT, PET, Gamma Cameras, and Angiography Systems)
    • Primary Imaging Modalities
      • Digital X-Ray
      • Ultrasound
      • Other Primary Medical Imaging Modalities (General X-ray Systems, Mammography Systems, and Bone Densitometers)
  • Electromedical Equipment 
  • Endoscopic Devices 
  • Surgical Instruments
  • Other Medical Equipment
    • Life Support Devices
    • Dental Equipment

By Service Provider

  • Original Equipment Manufacturers
  • Independent Service Organizations
  • In-House Maintenance

By End-User

  • Hospitals
  • Ambulatory Surgical Centers
  • Diagnostic Centers
  • Other End-Users

By Region

  • North America
    • The U.S.
  • Europe
    • UK
    • France
    • Germany
  • Asia Pacific
    • China
    • Japan
    • India
  • Latin America
    • Brazil
  • Middle East and Africa

Table Of Content

Methodology

FrequentlyAsked Questions

Medical equipment maintenance is the systematic process of ensuring that medical devices function reliably and safely within healthcare settings.

According to study, the global medical equipment maintenance market size was worth around USD 47.57 billion in 2023 and is predicted to grow to around USD 118.18 billion by 2032.
 

The CAGR value of medical equipment maintenance market is expected to be around 10.64% during 2024-2032.

The global medical equipment maintenance market will be dominated by North America during the forecast period.

The global medical equipment maintenance market is led by players like Siemens Healthineers, GE Healthcare, Koninklijke Philips N.V., Toshiba Medical System Corporation, Carestream Health Inc., FUJIFILM Holdings Corporation, Agfa-Gevaert Group, Hitachi Medical Corporation, Drägerwerk AG & Co. KGaA, Aramark Services Inc., Olympus Corporation, Althea Group, BC Technical Inc., and B. Braun Melsungen AG, among others.

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