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

The global medical equipment maintenance market is estimated to be valued at USD 50.79 BN in 2024 and is expected to exhibit a CAGR of 9.5% during the forecast period (2024-2031). The medical equipment maintenance market refers to services that ensure the smooth functioning of various medical devices and machinery. Regular maintenance is essential to catch potential defects early and minimize device downtime. It helps extend the lifespan of complex equipment, improve patient outcomes, and reduce healthcare costs in the long run. The market has been growing due to the rising volume of medical devices, their increasing technical sophistication, and need for scheduled servicing and repairs. Furthermore, maintenance services help optimize performance, enhance safety and compliance, deliver ongoing training to staff, and provide technical support during malfunctions or emergencies.

Market Dynamics:

The medical equipment maintenance market is driven by factors such as the increasing global disease burden requiring medical care, rapid technological innovation leading to more advanced diagnostic and therapeutic equipment, and stringent regulatory guidelines mandating maintenance. However, budget constraints within the healthcare industry, lack of skilled technicians, and high initial costs related to maintenance contracts limit the market potential. Key opportunities include providing customized maintenance packages, expanding into emerging countries, offering remote monitoring solutions, and developing predictive maintenance through Internet of Things (IoT) integration and data analytics.

Key Features of the Study:

• This report provides an in-depth analysis of the global medical equipment maintenance market, and provides market size (USD BN) and compound annual growth rate (CAGR%) for the forecast period (2024–2031), considering 2023 as the base year
• It elucidates potential revenue growth opportunities across different segments and explains attractive investment proposition matrices for this market
• This study also provides key insights about market drivers, restraints, opportunities, new product launches or approvals, market trends, regional outlook, and competitive strategies adopted by key players
• It profiles key players in the global medical equipment maintenance market based on the following parameters – company highlights, products portfolio, key highlights, financial performance, and strategies
• Key companies covered as a part of this study includes Koninklijke Philips N.V., Medtronic, GE Healthcare, B. Braun Melsungen AG, Althea Group, Siemens Healthineers, Agiliti, Sodexo Healthcare, Crothall Healthcare, ISS Solutions, Inc., TriMedx, Avante, TRIMED Healthcare, NovaMed Corporation, DiaMedical USA Equipment LLC, Aramark, Stryker, Medigas, RENOVO Solutions, and Steris plc
• Insights from this report would allow marketers and the management authorities of the companies to make informed decisions regarding their future product launches, type up-gradation, market expansion, and marketing tactics
• The global medical equipment maintenance market report caters to various stakeholders in this industry including investors, suppliers, product manufacturers, distributors, new entrants, and financial analysts
• Stakeholders would have ease in decision-making through various strategy matrices used in analyzing the global medical equipment maintenance market

Detailed Segmentation-

• By Product:
• • Electromedical Equipment
  • Surgical Instruments
  • Endoscopic Devices
  • Imaging Equipment
    • Digital X-Ray
    • Computed Tomography (CT) Scan
    • Ultrasound
    • Magnetic Resonance Imaging
    • Others
  • Other Medical Equipment
• By Maintenance Type:
• • Operational Maintenance
  • Preventive Maintenance
  • Corrective Maintenance
• By Service Provider:
• • Original Equipment Manufacturer
  • In-house Maintenance
  • Independent Service Organization
• By End User:
• • Hospitals
  • Diagnostic Laboratories
  • Ambulatory Surgical Centers
  • Others
• By Region:
• • North America
  • Europe
  • Asia Pacific
  • Latin America
  • Middle East
  • Africa
• Company Profiles:
• • Koninklijke Philips N.V.
  • Medtronic
  • GE Healthcare
  • Braun Melsungen AG
  • Althea Group
  • Siemens Healthineers
  • Agiliti
  • Sodexo Healthcare
  • Crothall Healthcare
  • ISS Solutions, Inc.
  • TriMedx
  • Avante
  • TRIMED Healthcare
  • NovaMed Corporation
  • DiaMedical USA Equipment LLC
  • Aramark
  • Stryker
  • Medigas 
  • RENOVO Solutions
  • Steris plc