Medical Equipment Maintenance Market Opportunities by Types, Demand, Top Manufactures and Application in Grooming Regions

Original equipment manufacturers (OEMs), independent service organizations (ISOs), and in-house maintenance are the types of service provider available in the medical equipment maintenance market. OEMs are expected to hold the largest market share, of more than 70.0%, by 2024. The highest share of OEMs in the market can be attributed to the provision of timely, reliable, and better services offered by them, as compared to other service providers. However, ISOs category is expected to witness the fastest growth during the forecast period, mainly on account of low cost of services provided by them.

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Globally, the APAC medical equipment maintenance market is expected to witness the fastest growth, and is projected to progress at a CAGR of 9.2% during the period 2019–2024. The growth of the market is mainly led by advancements in the medical devices industry, increasing chronic ailments, and growing number of hospitals in the region.

The medical devices industry is on its boom in APAC, owing to this, there is a rapid introduction of technologically advanced and upgraded medical devices in the region. Moreover, due to introduction and adoption of sophisticated technologies in APAC, the region now has highly diversified variety of products to diagnose and treat patients. Due to its frequent usage, the medical devices require services and proper time-to-time maintenance for smooth functioning.

The players in the medical equipment maintenance market are coming up with innovative solutions to enhance their market presence. For instance, in January 2018, FUJIFILM Medical Systems U.S.A. Inc. formed a strategic alliance with Renovo Solutions to offer technology management solutions, which consist of Multi-vendor service (MVS) options for the maintenance and management of medical imaging and biomedical equipment. This new alliance opens the option of customized service delivery solutions, including MVS to FUJIFILM customers.

General Electric (GE) Company, Koninklijke Philips N.V., Siemens AG, Canon Medical Systems Corporation, Shimadzu Corporation, FUJIFILM Holdings Corporation, Drägerwerk AG & Co. KGaA, Agfa-Gevaert N.V., Hitachi Ltd., Karl Storz SE & Co. Kg, Olympus Corporation, and Carestream Health Inc. are some leading OEM players in the medical equipment maintenance industry.