Dublin, Nov. 19, 2018 (GLOBE NEWSWIRE) -- The "Medical Equipment Maintenance Market by Device, Type, Service Provider & End User - Forecast to 2023" report has been added to ResearchAndMarkets.com's offering.
Rising focus on preventive medical equipment maintenance is expected to drive the overall growth of the medical equipment maintenance market
The medical equipment maintenance market is projected to reach USD 47.4 billion by 2023 from USD 28.9 billion in 2018, at a CAGR of 10.4% during the forecast period.
The growth of this market is majorly driven by the growth in associated equipment markets, rising focus on preventive medical equipment maintenance, adoption of innovative funding mechanisms, and the increasing purchase of refurbished medical systems. On the other hand, factors such as high initial costs and significant maintenance expenditure may hinder the growth of this market in the coming years.
Imaging equipment segment is expected to grow at the highest CAGR during the forecast period
Based on device type, the medical equipment maintenance market is segmented into imaging equipment, electromedical devices, endoscopic devices, surgical instruments, and other medical equipment. In 2018, the imaging equipment segment is expected to account for the largest share of the medical equipment maintenance market. This segment is also expected to grow at the highest CAGR during the forecast period majorly due to the high demand for the maintenance services of imaging equipment as a result of their high replacement cost and the need for ensuring maximum equipment uptime.
Preventive maintenance segment is expected to account for the largest share of the medical equipment maintenance market, by service type, during the forecast period
Based on service type, the medical equipment maintenance market is segmented into preventive maintenance, corrective maintenance, and operational maintenance. In 2018, the preventive maintenance segment is expected to account for the largest share of the medical equipment maintenance market. The large share of this segment is attributed to the various benefits associated with preventive maintenance services, such as improved device lifespan and reduced service costs (as the maintenance can be managed cost-effectively on a scheduled basis by eliminating emergency repair costs).
North America to dominate the market during the forecast period
In 2018, North America is expected to account for the largest share of the medical equipment maintenance market. This market is also expected to grow at the highest CAGR during the forecast period. Factors such as the rising geriatric population, growing incidence of lifestyle-related diseases, access to quality healthcare, presence of well-established healthcare infrastructure, high adoption of advanced technologies, and the presence of prominent players are supporting the growth of the medical equipment maintenance market in North America.
Recent Developments
- In 2018, Koninklijke Philips N.V. (Netherlands) partnered with Kliniken der Stadt Kln (Germany) to provide continuous modernization and maintenance of imaging systems.
- In 2017, Siemens Healthineers signed an agreement with Kingston Hospital NHS Foundation Trust to provide MES for all medical imaging systems for 10 years.
- In 2016, Canon, Inc. (Japan) acquired Toshiba Medical Systems Corporation (Japan).
Key Topics Covered:
1 Introduction
2 Research Methodology
3 Executive Summary
4 Premium Insights
4.1 Medical Equipment Management Market Overview
4.2 Global Market, By Device Type & Region (2018)
4.3 Imaging Equipment Maintenance Market, By Modality, 2018 vs 2023 (USD Billion)
4.4 Global Market, By Service Type, 2018 vs 2023 (USD Billion)
4.5 Global Market, By Service Provider, 2018 vs 2023 (USD Billion)
4.6 Global Market: Geographical Snapshot
5 Market Overview
5.1 Introduction
5.2 Market Dynamics
5.2.1 Drivers
5.2.1.1 Growth in the Associated Equipment Markets
5.2.1.2 Rising Focus on Preventive Medical Equipment Maintenance
5.2.1.3 Adoption of Innovative Funding Mechanisms
5.2.1.4 Increasing Purchase of Refurbished Medical Systems
5.2.2 Restraints
5.2.2.1 High Initial Cost and Significant Maintenance Expenditure
5.2.3 Opportunities
5.2.3.1 Innovation in Service Offerings and Use of IoT
5.2.3.2 Emergence of ISOs
5.2.4 Challenges
5.2.4.1 Survival of Players in A Highly Fragmented and Competitive Market
5.2.5 Trends
5.2.5.1 Preference for Multi-Vendor Contracts
5.2.5.2 Equipment Maintenance Insurance (EMI) Tools for Imaging Centers
6 Regulatory Standards
6.1 Introduction
6.1.1 ISO Standards
6.1.1.1 ISO 9001:2015
6.1.1.2 ISO 13485:2016
7 Medical Equipment Maintenance Market, By Device Type
7.1 Introduction
7.2 Imaging Equipment
7.2.1 Advanced Imaging Modalities
7.2.1.1 CT
7.2.1.2 MRI
7.2.1.3 Other Advanced Medical Imaging Modalities
7.2.2 Primary Imaging Modalities
7.2.2.1 Digital X-Ray
7.2.2.2 Ultrasound
7.2.2.3 Other Primary Medical Imaging Modalities
7.3 Electromedical Equipment
7.4 Endoscopic Devices
7.5 Surgical Instruments
7.6 Other Medical Equipment
7.6.1 Life Support Devices
7.6.2 Dental Equipment
8 Medical Equipment Maintenance Market, By Service Type
8.1 Introduction
8.2 Preventive Maintenance
8.3 Corrective Maintenance
8.4 Operational Maintenance
9 Medical Equipment Maintenance Market, By Service Provider
9.1 Introduction
9.2 Original Equipment Manufacturers
9.2.1 Multi-Vendor OEMs
9.2.2 Single-Vendor OEMs
9.3 Independent Service Organizations
9.4 In-House Maintenance
10 Medical Equipment Maintenance Market, By End User
10.1 Introduction
10.2 Public Organizations
10.3 Private Organizations
11 Medical Equipment Maintenance Market, By Region
11.1 Introduction
11.2 North America
11.2.1 US
11.2.2 Canada
11.3 Europe
11.3.1 Germany
11.3.2 France
11.3.3 UK
11.3.4 Italy
11.3.5 Spain
11.3.6 RoE
11.4 Asia
11.4.1 Japan
11.4.2 China
11.4.3 India
11.4.4 RoA
11.5 RoW
12 Competitive Landscape
12.1 Overview
12.2 Market Ranking Analysis
12.3 Competitive Situation and Trends
12.3.1 Agreements, Partnerships, and Collaborations
12.3.2 Service Launches
12.3.3 Acquisitions
12.3.4 Expansions
13 Company Profiles
13.1 GE Healthcare (A General Electric Company)
13.2 Siemens Healthineers (A Division of Siemens AG)
13.3 Koninklijke Philips N.V.
13.4 Canon Inc.
13.5 FUJIFILM Holdings Corporation
13.6 Aramark Services, Inc.
13.7 Althea (Previously Pantheon Healthcare Group, A Part of Permira Group)
13.8 Drgerwerk AG & Co. KGaA
13.9 Agfa-Gevaert Group
13.10 B. Braun Melsungen AG
13.11 Carestream Health, Inc. (Subsidiary of Onex Corporation)
13.12 Olympus Corporation
13.13 Bc Technical, Inc. (Part of Alpha Source Group)
13.14 Hitachi Medical Corporation (Hitachi, Ltd.)
13.15 Karl Storz GmbH & Co. Kg
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