Global Medical Equipment Maintenance Market is Growing at a Significant Rate in the Forecast Period 2018-2025

Global Medical Equipment Maintenance Market is expected to reach USD 48,257.4 million by 2025 from USD 27,060.0 million in 2017, at a CAGR of 7.6% in the forecast period 2018 to 2025. The new market report contains data for historic years 2016, the base year of calculation is 2017 and the forecast period is 2018 to 2025.

Global Medical Equipment Maintenance MarketAccess Full Report: http://databridgemarketresearch.com/reports/global-medical-equipment-maintenance-market

Segmentation: Global Medical Equipment Maintenance Market

Device (Imaging Equipment, Endoscopic Device, Surgical Instrument, Electro-Medical Equipment), Service Type (Preventive Maintenance, Corrective Maintenance, Operational Maintenance), Service Provider (Original Equipment Manufacturers, Independent Service Organizations, In-House Maintenance), End User (Private-Sector Organizations, Public-Sector Organizations), Geography (North America, Europe, Asia Pacific, South America, Middle East and Africa)

Drivers: Global Medical Equipment Maintenance Market

The major factors contributing to the growth of the market includes factors such as rising focus on preventive medical equipment maintenance, increasing preference for purchase of refurbished medical equipment, rising investments of key companies to build healthcare infrastructure, technological advancements for complex equipment maintenance, increasing number of public-private partnerships.

RISING FOCUS ON PREVENTIVE MEDICAL EQUIPMENT MAINTENANCE

Medical equipment maintenance consists of preventive, predictive, corrective, operational and other types of maintenance. Preventative maintenance has many advantages over other maintenance as it is performed on regular basis to prevent the equipment from failure. Preventive maintenance is performed all through when the equipment is on functioning to prevent it from unexpected interruption. The preventive maintenance extends the lifecycle of equipment and boosts efficiency for running more efficiently. It lowers the power expenses, improves the performance of assets by increasing uptime and it is helpful to develop customer service.

Preventative maintenance has the advantage of planning over less complex strategies. Unplanned reactive maintenance includes lost production, higher costs for parts and shipping. Planned maintenance helps to reduce the maintenance cost and to save the production downtime equipment would shut down for safety measures and essential parts or supplies are collected to minimize repair time. This maintenance does not require condition-based monitoring, which monitors the current state of the equipment, helps to reduce the requirement and cost to conduct and interpret condition monitoring data.

Below are some companies which provide preventative maintenance services:

  • Horizon CSA, LLC, medical equipment maintenance, repair and management services provider, offers preventative maintenance throughout hospitals and ancillary healthcare facilities for diagnostic imaging equipment to the simplest of medical devices.
  • BiomedRx Inc., a healthcare technology solutions company provides medical equipment maintenance services to healthcare providers and medical device manufacturers, manufacturers and government and civilian healthcare sectors.
  • GE Healthcare, a transformational medical technologies and services provider offers the preventive maintenance service for the medical equipment.

INCREASING PREFERENCE FOR PURCHASE OF REFURBISHED MEDICAL EQUIPMENTS

Medical equipment is used to assist in diagnosis, monitoring or treatment of medical conditions which are technologically advanced and found in simple to complex structure, smaller to huge size and from lighter to heavier weight. There are more than 10,000 types of medical devices available. For different medical conditions different medical equipment or devices are available. The highly advanced technologies make the equipment easily accessible for the healthcare professionals as well as for the patients but at the same time the equipment is at their high cost too.

Some companies provide refurbished medical equipment.

  • Soma Technology, Inc., a biomedical enterprise, based in Connecticut, U.S., which provides high quality new and refurbished medical equipment to healthcare facilities worldwide at affordable costs, offers several medical equipment from major companies to healthcare sectors. It offers refurbished equipment from Philips, GE Healthcare, Terumo, FujiFilm Sonosite Inc. and others.
  • MYCO Instrumentation, Inc., a laboratory equipment provider and markets high quality used medical equipment to the medical community. It offers high quality used medical equipment from Bayer Ag, Hitachi Ltd., Siemens AG, F. Hoffmann-La Roche Ltd, Medica, Beckman Coulter and others.

RISING INVESTMENTS OF KEY COMPANIES TO BUILD HEALTHCARE INFRASTRUCTURE

The companies tend to strengthen and follow strategies planned to improve innovation and overall productivity in R&D. The R&D department prioritizes to build healthcare infrastructure.

  1. Hoffmann-La Roche Ltd.

  • Roche, focuses on strengthening infrastructure. In 2014, Roche Sphere Programme in Asia trained 10,726 pathologists, surgeons and technicians. This programme aimed at improving local, national and regional capabilities and infrastructure.
  • Roche has expended USD 9,912.87, 10,568.40 and 11,076.83 million on R&D expenditure in 2015, 2016 and 2017 respectively.
  • Stryker expended USD 614.0, 625.0 and 715.0 million on expenditure in 2014, 2015 and 2016 respectively.

Major Players: Global Medical Equipment Maintenance Market

Some of the major players operating in this market are AGFA-GEVAERT, Canon Inc, Drägerwerk AG & CO. KGaA, Medtronic, Hitachi, Ltd, Fujifilm Holdings Corporation, B. Braun, HOYA Corporation among others.