Medical Equipment Maintenance Market Size CAGR As 10.64% of $118.18 Billion by 2032

Prakashtorase
7 min readMar 21, 2024
Medical Equipment Maintenance Market

According to the report, the global medical equipment maintenance market size was valued at approximately USD 47.57 billion in 2023 and is expected to generate revenue of around USD 118.18 billion by 2032, growing at a CAGR of around 10.64% between 2024 and 2032.

Medical devices play an important role in disease diagnosis and treatment and are valuable assets to human lives. Medical equipment maintenance has become an essential practice for the healthcare sector. Medical devices require considerable investments. Scheduled and managed equipment maintenance plays a vital role for safe, reliable, and accurate test results for diagnostic procedures and patient monitoring therapy and treatment.

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Browse the full “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”

The global 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 internet of things are likely to create further growth opportunities for the medical equipment maintenance market globally.

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Types of Medical Equipment Maintenance:

  • Preventive Maintenance: Explore the importance of preventive maintenance programs in proactively identifying and addressing equipment issues before they escalate, minimizing downtime and extending equipment lifespan.
  • Corrective Maintenance: Discuss corrective maintenance activities aimed at resolving equipment failures and malfunctions promptly, ensuring uninterrupted service delivery and patient safety.
  • Predictive Maintenance: Cover the emerging trend of predictive maintenance leveraging data analytics, IoT sensors, and machine learning algorithms to forecast equipment failures and optimize maintenance schedules.

3. Regulatory Compliance and Standards:

  • Regulatory Landscape: Explain regulatory requirements governing medical equipment maintenance practices, including guidelines from regulatory bodies such as the FDA, ISO standards, and accreditation requirements for healthcare facilities.
  • Quality Management Systems: Discuss the implementation of quality management systems (QMS) in medical equipment maintenance operations, ensuring adherence to industry best practices, documentation, and continuous improvement initiatives.

4. Technological Innovations:

  • Remote Monitoring Solutions: Highlight the adoption of remote monitoring technologies for real-time tracking of equipment performance metrics, proactive fault detection, and remote diagnostics, enabling predictive maintenance strategies.
  • Asset Management Software: Explore the role of asset management software in streamlining maintenance workflows, managing service schedules, tracking equipment history, and generating compliance reports for auditing purposes.
  • Augmented Reality (AR) Maintenance: Discuss the use of augmented reality (AR) tools for interactive maintenance training, remote assistance, and troubleshooting complex equipment issues, improving technician efficiency and effectiveness.

5. Market Segmentation by Healthcare Facility Type:

  • Hospitals: Analyze the medical equipment maintenance needs and challenges specific to hospital settings, including large and diverse equipment inventories, round-the-clock operation requirements, and budget constraints.
  • Clinics and Diagnostic Centers: Discuss the tailored maintenance solutions for clinics and diagnostic centers, focusing on specialized equipment such as imaging systems, laboratory analyzers, and point-of-care devices.
  • Ambulatory Surgery Centers (ASCs): Explore the unique maintenance requirements of ASCs, emphasizing the need for efficient service delivery, regulatory compliance, and cost-effective maintenance solutions.

6. Competitive Landscape:

  • Key Players: Profile major companies operating in the medical equipment maintenance market, including OEMs, independent service organizations (ISOs), and specialized maintenance providers.
  • Market Strategies: Evaluate the strategies employed by market players to differentiate their offerings, such as service portfolio expansion, geographic expansion, strategic partnerships, and investments in technology.

7. Future Outlook:

  • Integration of AI and IoT: Anticipate the integration of artificial intelligence (AI) and Internet of Things (IoT) technologies into medical equipment maintenance practices, enabling predictive analytics, autonomous maintenance, and condition-based monitoring.
  • Outsourcing Trends: Assess the growing trend of outsourcing medical equipment maintenance services to specialized providers, driven by cost containment efforts, resource constraints, and the need for specialized expertise.
  • Emphasis on Compliance and Patient Safety: Highlight the continued emphasis on regulatory compliance, quality assurance, and patient safety in medical equipment maintenance practices, shaping future market dynamics and service delivery standards.

The global medical equipment maintenance market is divided based on service type, device type, service provider, and end-user. By service type, the market is categorized into preventive maintenance, operational maintenance, and corrective maintenance. Preventive maintenance segment held the largest market share in 2023, due to the increasing use of medical equipment and the need to prevent equipment break down. By device type, the market is segmented into endoscopic devices, imaging equipment, electromedical equipment, surgical instruments, and other medical equipment. The imaging equipment segment is sub-segmented into advanced imaging modalities and primary imaging modalities. Advanced imaging modality segment is further 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, this global market includes 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. Hospitals dominated the market in 2023, in terms of revenue share, and are projected to hold the leading position over the forecast time period as well.

North America, Asia Pacific, the Middle East, and Africa, Europe, and Latin America comprise the regional segment of the global medical equipment maintenance market. 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.

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Some key players of the global medical equipment maintenance market include-

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:

Global Medical Equipment Maintenance Market: By Service

  • Preventive Maintenance
  • Corrective Maintenance
  • Operational Maintenance

Global Medical Equipment Maintenance Market: By Device

  • Imaging EquipmentAdvanced Imaging ModalitiesComputed tomography(CT)Magnetic Resonance Imaging (MRI)Other Advanced Medical Imaging Modalities (SPECT-CT, PET-CT, PET, Gamma Cameras, and Angiography Systems)Primary Imaging ModalitiesDigital X-RayUltrasoundOther Primary Medical Imaging Modalities (General X-ray Systems, Mammography Systems, and Bone Densitometers)
  • Electromedical Equipment
  • Endoscopic Devices
  • Surgical Instruments
  • Other Medical EquipmentLife Support DevicesDental Equipment

Global Medical Equipment Maintenance Market: By Service Provider

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

Global Medical Equipment Maintenance Market: By End-User

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

Global Medical Equipment Maintenance Market: By Region

  • North AmericaThe U.S.
  • EuropeUKFranceGermany
  • Asia PacificChinaJapanIndia
  • Latin AmericaBrazil
  • The Middle East and Africa

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