Medical Equipment Maintenance Market is Predicted to Grow by a CAGR of 8.7% During the Forecast Period, 2019-2024 -

DUBLIN--()--The "Medical Equipment Maintenance Market Research Report: By Equipment Type, Service Type, Service Provider, End User, Geographical Insight - Global Industry Analysis and Forecast to 2024" report has been added to's offering.

The medical equipment maintenance market is predicted to attain a size of $26.4 billion by 2024, progressing at an 8.7% CAGR during the forecast period.

The increasing developments in the medical device sector, rising awareness on preventive equipment maintenance, and strict regulations are some of the key factors that are behind the progress of the market. On the basis of service provider, the market is categorized into original equipment manufacturers (OEM), in-house maintenance, and independent service organizations (ISO). Out of these, the OEM category is expected to hold the largest share of more than 70.0% in the market by 2024.

This is ascribed to the provision of reliable, timely, and better services by OEMs over other service providers. However, during the forecast period, the ISO category is predicted to exhibit the fastest growth in the market due to the affordability of the services offered by them. On the basis of end user, the medical equipment maintenance market is bifurcated into private-sector and public-sector organizations. Of these, during the historical period, public-sector organizations dominated the market, which can be ascribed to the existence of a huge number of publicly owned healthcare settings, such as nursing homes and hospitals.

Due to the significant number of diagnostic tests performed at these facilities, the need for frequent equipment maintenance is rapidly increasing. Globally, the Asia-Pacific (APAC) medical equipment maintenance market is projected to register the fastest growth at a CAGR of 9.2% during the 2019-2024 period. This is ascribed to the swift developments in the medical device sector, growing menace of chronic ailments, and an increasing number of hospitals. With the expanding medical device sector, a rapid introduction of technologically advanced medical devices is being witnessed in the market.

In addition, owing to the deployment of improved technologies, the market players in the APAC region are now able to offer a wide range of products to diagnose and treat patients. Because of the continuous use of medical devices, frequent maintenance for smooth functioning for a long period has become imperative. Hence, with the constant demand for maintenance from healthcare facilities, the medical equipment maintenance market is expected to progress during the forecast period. For instance, computed tomography scanners need periodic maintenance for their fans, glassware (X-ray tube), and bearings for proper functioning.

Thus, the progress of the medical device sector is predicted to ultimately fuel the growth of the medical equipment maintenance market during the forecast period. Besides, the surging number of hospitals is also expected to contribute to the prosperity of the market. For instance, the total number of hospitals in China has surged significantly over the past decade from around 18,700 in 2005 to around 27,600 in 2015.

Key Topics Covered:

Chapter 1. Research Background

1.1 Research Objectives

1.2 Market Definition

1.3 Research Scope

1.3.1 Market Segmentation by Equipment Type

1.3.2 Market Segmentation by Service Type

1.3.3 Market Segmentation by Service Provider

1.3.4 Market Segmentation by End User

1.3.5 Market Segmentation by Geography

1.3.6 Analysis Period

1.3.7 Market Data Reporting Unit

1.4 Key Stakeholders

Chapter 2. Research Methodology

2.1 Secondary Research

2.2 Primary Research

2.2.1 Breakdown of Primary Research Respondents By industry participant By company type

2.3 Market Size Estimation

2.4 Data Triangulation

2.5 Assumptions for the Study

Chapter 3. Executive Summary

Chapter 4. Introduction

4.1 Definition of Market Segments

4.1.1 By Equipment Type Imaging Advanced imaging modalities CT MRI Others Primary imaging modalities Digital X-ray Ultrasound Endoscope Others Electromedical Life support Surgical Dental

4.1.2 By Service Type Preventive and predictive Corrective Operational

4.1.3 By Service Provider OEMs Multi-vendor OEMs Single-vendor OEMs ISOs In-house

4.1.4 By End User Public-sector organizations Private-sector organizations

4.2 Market Dynamics

4.3 Porter's Five Forces Analysis

4.4 Maintenance Cost Associated with Diagnostic Imaging Systems

Chapter 5. Global Market Size and Forecast

5.1 By Equipment Type

5.1.1 Imaging Equipment Maintenance Market, by Type Imaging equipment maintenance market for advanced modalities, by type Imaging equipment maintenance market for primary modalities, by type

5.2 By Service Type

5.3 By Service Provider

5.3.1 Medical Equipment Maintenance Market for OEMs, by Type

5.4 By End User

5.5 By Region

Chapter 6. North America Market Size and Forecast

Chapter 7. Europe Market Size and Forecast

Chapter 8. APAC Market Size and Forecast

Chapter 9. LATAM Market Size and Forecast

Chapter 10. MEA Market Size and Forecast

Chapter 11. Competitive Landscape

11.1 Strategic Developments of Key Players

11.1.1 Mergers and Acquisitions

11.1.2 Other Developments

11.2 Competitive Analysis of Key Players

11.2.1 Competitive Analysis of Key OEM Players

11.2.2 Competitive Analysis of Key ISO Players

Chapter 12. Company Profiles

12.1 OEMs

12.1.1 General Electric Company Business overview Product and service offerings Key financial summary

12.1.2 Siemens AG

12.1.3 Koninklijke Philips N.V.

12.1.4 Drgerwerk AG & Co. KGaA

12.1.5 FUJIFILM Holdings Corporation

12.1.6 Agfa-Gevaert N.V.

12.1.7 Canon Medical Systems Corporation

12.1.8 Shimadzu Corporation

12.1.9 Karl Storz SE & Co. Kg

12.1.10 Hitachi Ltd.

12.1.11 Olympus Corporation

12.1.12 Carestream Health Inc.

12.2 ISOs

12.2.1 NovaMed Corporation

12.2.2 Aramark

12.2.3 Althea Group S.p.A.

12.2.4 Gamidor Technical Services Ltd.

12.2.5 BC Technical Inc.

12.2.6 Agiliti Health Inc.

12.2.7 Diagnostic Equipment Service Corporation (DESCO)

12.2.8 CTDI GmbH

12.2.9 Crothall Healthcare

12.2.10 Atlantis Worldwide LLC

For more information about this report visit

Laura Wood, Senior Press Manager
For E.S.T Office Hours Call 1-917-300-0470
For U.S./CAN Toll Free Call 1-800-526-8630
For GMT Office Hours Call +353-1-416-8900
Related Topics: Medical Devices

Laura Wood, Senior Press Manager
For E.S.T Office Hours Call 1-917-300-0470
For U.S./CAN Toll Free Call 1-800-526-8630
For GMT Office Hours Call +353-1-416-8900
Related Topics: Medical Devices