MEDICAL EQUIPMENT MAINTENANCE MARKET SIZE AND SHARE ANALYSIS - GROWTH TRENDS AND FORECASTS (2024-2031)

Regional Analysis

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North America has established itself as the dominant region in the global medical equipment maintenance market and is anticipated to hold 42.5% of the market share in 2024. With a large, developed healthcare sector and the presence of leading medical device companies, North America accounts for the largest share of the maintenance spending globally. The region's aging population coupled with rising healthcare expenditure has sustained the demand for maintenance and after-sales support of medical equipment over the years. Moreover, stringent regulations around quality standards and safety procedures have ensured equipment upkeep remains a focus for both private and public healthcare facilities.

Asia Pacific has emerged as the fastest growing regional market. Governments across developing nations have increased healthcare budgets to boost infrastructure development and modernize facilities. This, in turn, is driving the installation of advanced medical technologies. As the installed base of high-tech diagnostic devices and therapy equipment rises in countries like China, India, and Indonesia, the need for regular servicing and repairs has grown significantly. The Asia Pacific region also sees strong potential in exports of refurbished and pre-owned equipment. This offers lucrative opportunities for local and multinational service providers specializing in equipment maintenance, renovation, and quality certification activities.