Medical Equipment Maintenance Industry is Majorly Focusing on Preventive Maintenance

Market Research

Updated on Nov 18, 2019

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The Objectives of This Study:

# To define, describe, and forecast the global market on the basis of device type, service type, service provider, end user, and region.

# To provide detailed information regarding the major factors influencing the growth of the market (drivers, restraints, opportunities, and industry-specific challenges)

# To strategically analyze micromarkets with respect to individual growth trends, prospects, and contributions to the market

# To analyze market opportunities for stakeholders and provide details of the competitive landscape for market leaders

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# To forecast the size of market segments with respect to four regions, namely, North America, Europe, Asia, and the Rest of the World

# To profile key players and comprehensively analyze their product portfolios, market positions, and core competencies

# To track and analyze competitive developments, such as agreements, partnerships, collaborations, mergers & acquisitions, and expansions in the global market

On the basis of device type, the medical equipment maintenance market is segmented into imaging equipment, endoscopic devices, surgical instruments, electromedical equipment, and other medical equipment. In 2018, the imaging equipment segment is expected to account for the largest share of the global market. This segment is also expected to grow at the highest CAGR during the forecast period. This growth is attributed to the high demand for maintenance services for imaging equipment, due to the high replacement cost and the need for ensuring maximum equipment uptime.

The global market, by service type, is segmented into corrective, preventive, and operational maintenance. In 2018, preventive maintenance is expected to account for the largest share of the global market. Technological advancements in medical devices and the consequent need for their preventive maintenance are expected to fuel market growth in this segment.

Based on service provider, the medical equipment maintenance market is segmented into original equipment manufacturers (OEMs), independent service organizations (ISOs), and in-house maintenance. In 2018, OEMs are expected to account for the largest share of the global market. The large share of the OEMs segment can primarily be attributed to their service quality, wide geographic presence, and strong technical expertise.

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On the basis of end user, the medical equipment maintenance market is segmented into public-sector organizations and private-sector organizations. In 2018, private-sector organizations are expected to register the highest CAGR during the forecast period. The increasing number of public-private partnerships is expected to boost the demand for medical equipment maintenance services.

On the basis of the region, the medical equipment maintenance market is segmented into North America, Europe, Asia, and the RoW. In 2018, North America is expected to account for the largest share of the market, followed by Europe, The largest share of the North American market is attributed to the factors such as the rise in aging population and incidence of lifestyle-related diseases, access to quality healthcare, well-established healthcare infrastructure, high adoption of advanced technology, and the presence of prominent players. In 2018, Europe is expected to hold the second-largest share. Factors such as expanding patient population, rising focus on early diagnosis, growing number of diagnostic imaging procedures, and strategic agreements, partnerships, and collaborations between service providers and end users are expected to fuel market growth in this region.

The medical equipment maintenance market is highly competitive, with the presence of both OEMs and ISOs. GE Healthcare (US), Koninklijke Philips N.V. (Netherlands), Siemens Healthineers (Germany), Toshiba Medical Systems Europe (Germany), FUJIFILM Holdings Corporation (Japan), Carestream Health, Inc. (U.S.), Agfa-Gevaert Group (Belgium), and Drägerwerk AG & Co. KGaA (Germany) are some of the leading OEMs.

Aramark Services, Inc. (US), BC Technical, Inc. (US), Alliance Medical Group (UK), Althea Group (Italy), Avensys UK Ltd. (UK), and Grupo Empresarial Electromédico (Spain) are some of the leading ISOs operating in the medical equipment maintenance market.

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