Leading Players in the Medical Equipment Maintenance Market – Exclusive Report by MarketsandMarkets™

Posted on 2021-10-28 by MarketsandMarkets in Healthcare // 0 Comments

PUNE, India, 2021-Oct-28 — /EPR Network/ —

According to the new market research report, “Medical Equipment Maintenance Market by Product (Imaging (MRI, CT, PET-CT, ultrasound, X-ray), Endoscopes, Lasers, Ventilators, Dialysis, Monitors), Provider (OEM, ISO, In-house), Service (Preventive, Operational), User (Hospital, ASCs) – Forecast to 2026″, is projected to reach USD 74.2 billion by 2026 from USD 45.2 billion in 2021, at a CAGR of 10.4% during the forecast period.

Browse and in-depth TOC on “Medical Equipment Maintenance Market”
241 – Tables
53 – Figures
320 – Pages

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Growth Boosting Factors:

Growth in this market is primarily driven by the rising focus on preventive medical equipment maintenance, growth in associated equipment markets, adoption of innovative funding mechanisms, growing government initiatives to improve healthcare infrastructure of hospitals and the increasing purchase of refurbished medical equipment. However, the high initial costs and significant maintenance expenditure may hinder the growth of this market during the forecast period.

Key Players:

The competitive landscape includes the analysis of the key growth strategies adopted by major players between 2017–2020 to expand their global presence and increase their market shares in the medical equipment maintenance market. The key growth strategies adopted by the top players in the market include agreements, expansions, and acquisitions. Acquisitions were the most widely adopted growth strategies by market players in the last three years to garner a larger share of the market. In 2020, the medical equipment maintenance market was dominated by GE Healthcare (US), Siemens Healthineers (Germany), Koninklijke Philips N.V. (Netherlands), Medtronic plc (Ireland), and FUJIFILM Holdings Corporation (Japan)

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GE Healthcare (US) held the leading position in the medical equipment maintenance market in 2020. The company’s service portfolio includes a wide range of medical equipment services through which it caters to the demand of various end users, including hospitals, ambulatory surgical centers, dialysis centers, and dental clinics.

The company also offers multi-vendor services associated with diagnostic imaging systems. In order to ensure its future growth, the company adopted strategies such as partnerships, agreements, and mergers and acquisitions to strengthen its service portfolio and customer base and expand its presence across various regions. GE Healthcare has a strong product portfolio, supporting around medical OEMs, hospitals and specialty clinics worldwide. The company is focused on innovations and improving the quality of its services with increasing investment in its biomedical engineering training.

Siemens Healthineers (Germany) held the second position in the medical equipment maintenance market in 2020 due to its significant presence in the medical imaging, laboratory diagnostics, medical information technology, and hearing aid sectors. The company focuses on putting maximum efforts into its selected growth fields and prioritizes businesses for resource allocation. Siemens Healthineers also focuses on strengthening its business through partnerships and agreements.

North America is expected to dominate the global medical equipment maintenance market in 2020

North America, comprising the US and Canada, accounted for the largest share of the medical equipment maintenance market in 2020. Increasing number of vendors manufacturing for medical equipment maintenance and a growing number of approvals for advanced, medical devices are the major factors driving market growth in North America. Customers in North America are moving towards outsourcing maintenance services for curbing expense, which is increasing demand for medical equipment maintenance. This trend will have a positive impact on the medical equipment maintenance market.

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