Medical Equipment Maintenance Market to Grow by USD 51.21 Billion (2024-2028), Rising Focus on Preventive Maintenance of Medical Equipment Boosts Revenue, Report on AI-Redefined Trends - Technavio

NEW YORK, Jan. 22, 2025 /PRNewswire/ -- Report with market evolution powered by AI - The global medical equipment maintenance market  size is estimated to grow by USD 51.21 billion from 2024-2028, according to Technavio. The market is estimated to grow at a CAGR of  13.64%  during the forecast period. Rising focus on preventive maintenance of medical equipment is driving market growth, with a trend towards increasing adoption of advanced medical technologies in emerging countries. However, high cost of medical equipment maintenance  poses a challenge. Key market players include Agfa Gevaert NV, AlphaSource Group, Althea Group S.p.A., Aramark, B.Braun SE, Boston Scientific Corp., Canon Inc., Carestream Health Inc., Dragerwerk AG and Co. KGaA, Edwards Lifesciences Corp., FUJIFILM Corp., General Electric Co., Hitachi Ltd., HOYA Corp., Koninklijke Philips N.V., Medtronic Plc, Samsung Electronics Co. Ltd., Siemens AG, Stryker Corp., and Terumo Corp..

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Medical Equipment Maintenance Market Scope
Report Coverage	Details
Forecast period	2024-2028
Base Year	2023
Historic Data	2017 - 2021
Segment Covered	Type (Healthcare systems, Pharmaceutical diagnostics, and Others), End-user (Public sector organizations and Private sector organizations), Geography (North America, Europe, Asia, and Rest of World (ROW)), Equipment, and Service.
Region Covered	North America, Europe, Asia, and Rest of World (ROW)
Key companies profiled	Agfa Gevaert NV, AlphaSource Group, Althea Group S.p.A., Aramark, B.Braun SE, Boston Scientific Corp., Canon Inc., Carestream Health Inc., Dragerwerk AG and Co. KGaA, Edwards Lifesciences Corp., FUJIFILM Corp., General Electric Co., Hitachi Ltd., HOYA Corp., Koninklijke Philips N.V., Medtronic Plc, Samsung Electronics Co. Ltd., Siemens AG, Stryker Corp., and Terumo Corp.

Key Market Trends Fueling Growth

The Medical Equipment Maintenance Market is experiencing significant growth, particularly in the area of diagnostic imaging procedures. OEMs supplying diagnostic imaging equipment, dental devices, endoscopic tools, surgical instruments, laboratory gadgets, ophthalmology devices, medical lasers, electrosurgical equipment, and radiotherapy devices are key players in this market. Preventive maintenance is crucial for patient safety and care quality. Asset management solutions, IoT, and biomedical engineers play essential roles in maintaining precision and accuracy of medical devices. Market trends include the rise of multi-vendor OEMs and single-vendor OEMs, ISOs, in-house maintenance, and various service types like operational and corrective maintenance. Hospitals, dialysis centers, and other healthcare organizations are major consumers. Chronic conditions such as cancer and diabetes, as well as lifestyle disorders, drive demand. Extremadura Health Service and others are adopting advanced medical manufacturing technologies like balloon forming, thermal bonding, folding and pleating, and stent crimping. Market challenges include regulatory frameworks, trade regulations, import-export, and domestic market players' competition. Notable brands include Canon Medical, Agfa solutions, and many more. 

The medical equipment maintenance market is experiencing significant growth due to the introduction of innovative technologies and devices in healthcare. Regenerative medicine, surgical robots, liquid biopsy, and wearable medical devices are some of the notable advancements. Regenerative medicine, in particular, is gaining prominence for its potential to repair or replace damaged human cells, tissues, and organs using therapeutic stem cells, tissue engineering, and artificial organ production. Three-dimensional bioprinting, or additive manufacturing, is being adopted for producing regenerative medicines due to its ability to control product size, shape, pore size, geometry, and mechanical properties. This technology enables researchers to study the effects of drugs and treatments on human tissues with the actual patient's presence, contributing to improved diagnosis and treatment methods. 

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Market Challenges

•         The Medical Equipment Maintenance Market faces several challenges in the healthcare industry. Diagnostic imaging procedures rely heavily on the proper functioning of equipment like MRI, CT, and X-ray machines. OEMs must cater to the needs of various healthcare organizations, requiring preventive maintenance to ensure patient safety and care quality. Asset management solutions, IoT, and biomedical engineers play crucial roles in maintaining precision and accuracy of medical devices. Market ecosystem involves multi-vendor and single-vendor OEMs, service providers, and ISOs. Device types include diagnostic imaging equipment, dental, endoscopic, surgical, laboratory, ophthalmology, medical lasers, electrosurgical, radiotherapy devices, and durable medical equipment. Hospitals, dialysis centers, and other healthcare facilities face pipeline issues due to regulatory frameworks, trade regulations, and import-export restrictions. Chronic conditions such as cancer and diabetes, along with lifestyle disorders, require ongoing maintenance and calibration. Market hindrances include technical service centers, public health systems, and medical manufacturing technologies like balloon forming, thermal bonding, and folding and pleating. Market players include Canon Medical, Agfa solutions, and others. Ventilators, a critical medical device, have gained significant attention during the pandemic. ISO certifications ensure in-house maintenance and adherence to service types like operational and corrective maintenance. Precision, accuracy, and patient epidemiology are key factors driving the market.

•         Medical equipment maintenance programs are essential for healthcare providers to effectively manage and monitor the condition of their equipment, ensuring optimal usage and minimal downtime. Preventive measures and cost pressures call for a focus on these programs. Advanced asset management solutions, which include the use of sophisticated technologies, are part of these maintenance offerings. While these solutions involve initial high installation costs and ongoing maintenance expenses, the annual service contracts for advanced medical equipment add to the overall equipment cost over its lifespan.

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Segment Overview 

This medical equipment maintenance market report extensively covers market segmentation by

Type 

• 1.1 Healthcare systems
• 1.2 Pharmaceutical diagnostics
• 1.3 Others

End-user 

• 2.1 Public sector organizations
• 2.2 Private sector organizations

Geography 

• 3.1 North America
• 3.2 Europe
• 3.3 Asia
• 3.4 Rest of World (ROW)

Equipment

Service

1.1 Healthcare systems-  The healthcare systems segment is a significant market focusing on maintenance services for medical equipment used in healthcare facilities, including hospitals and ambulatory surgical centers (ASCs). Hospitals require meticulous maintenance for various medical devices such as X-ray machines, CT scanners, MRI machines, life support systems, ventilators, anesthesia machines, and specialized monitoring equipment. ASCs also rely on healthcare systems providers for the maintenance of endoscopy equipment, surgical instruments, and other specialized devices. Regular maintenance is crucial to prevent malfunctions that could compromise patient outcomes. Siemens Healthineers is a leading vendor offering comprehensive maintenance and support services for medical equipment, including diagnostic imaging systems, laboratory diagnostics, and other healthcare systems. Notable collaborations include Anregiomed's ten-year agreement with Siemens Healthineers and Drager for medical equipment supply and management, and Belfast Health and Social Care Trust's 20-year Value Partnership with Siemens Healthineers for cutting-edge technology and healthcare advancements. These collaborations contribute significantly to the growth of the healthcare systems segment in the market.

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Research Analysis

The Medical Equipment Maintenance Market is a critical sector in the healthcare industry, focusing on ensuring the optimal performance and longevity of medical devices. OEMs (Original Equipment Manufacturers) and healthcare organizations rely on this market to provide preventive maintenance services for various medical equipment, including imaging equipment like Computed Tomography (CT) scanners from Canon Medical and Vantage Fortian, or Agfa solutions. The market's significance is heightened due to the increasing prevalence of chronic conditions such as cancer and diabetes, as well as lifestyle-related disorders. Precision and accuracy are paramount in medical equipment maintenance to ensure reliable patient diagnosis and treatment. Regulatory frameworks play a vital role in maintaining the quality and safety of medical devices. The pipeline for medical equipment maintenance includes continuous innovation to cater to the evolving needs of healthcare providers and patients.

Market Research Overview

The Medical Equipment Maintenance Market encompasses various types of medical equipment, including diagnostic imaging procedures, dental, endoscopic devices, surgical equipment, laboratory equipment, ophthalmology equipment, medical lasers, electrosurgical equipment, radiotherapy devices, durable medical equipment, and more. OEMs and healthcare organizations rely on preventive maintenance to ensure patient safety and care quality. Asset management solutions, IoT, and biomedical engineers play crucial roles in the market ecosystem. Device types range from diagnostic imaging equipment like CT scanners and nuclear imaging machines to dental equipment, endoscopic devices, surgical equipment, and laboratory equipment. Ophthalmology equipment, medical lasers, electrosurgical equipment, radiotherapy devices, and durable medical equipment are also included. The market is segmented into service providers, multi-vendor OEMs, single-vendor OEMs, ISOs, in-house maintenance, operational maintenance, and corrective maintenance. Hospitals, dialysis centers, and other healthcare facilities are major end-users. The patient epidemiology includes chronic conditions such as cancer, diabetes, and lifestyle disorders. The regulatory framework and medical devices' precision and accuracy are essential considerations. The market is hindered by trade regulations, import-export policies, and domestic market players. Medical manufacturing technologies like balloon forming, thermal bonding, folding and pleating, and stent crimping contribute to the production of medical equipment. Ventilators, Canon Medical's Vantage Fortian, Agfa solutions, and imaging equipment like computed tomography are key offerings in the market.

Table of Contents:

1 Executive Summary
2 Market Landscape
3 Market Sizing
4 Historic Market Size
5 Five Forces Analysis
6 Market Segmentation

• Type
• Healthcare Systems
• Pharmaceutical Diagnostics
• Others
• End-user
• Public Sector Organizations
• Private Sector Organizations
• Geography
• North America
• Europe
• Asia
• Rest Of World (ROW)
• Equipment
• Service

7 Customer Landscape
8 Geographic Landscape
9 Drivers, Challenges, and Trends
10 Company Landscape
11 Company Analysis
12 Appendix

About Technavio

Technavio is a leading global technology research and advisory company. Their research and analysis focuses on emerging market trends and provides actionable insights to help businesses identify market opportunities and develop effective strategies to optimize their market positions.

With over 500 specialized analysts, Technavio's report library consists of more than 17,000 reports and counting, covering 800 technologies, spanning across 50 countries. Their client base consists of enterprises of all sizes, including more than 100 Fortune 500 companies. This growing client base relies on Technavio's comprehensive coverage, extensive research, and actionable market insights to identify opportunities in existing and potential markets and assess their competitive positions within changing market scenarios.

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SOURCE Technavio