Global Medical Equipment Maintenance Market Forecast To Reach $64.09 Billion By 2028 With 11.9% Annual Growth

The Business Research Company’s Medical Equipment Maintenance Global Market Report 2024 – Market Size, Trends, And Market Forecast 2024-2033

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The medical equipment maintenance market has experienced significant growth in recent years. It is projected to expand from $36.47 billion in 2023 to $40.92 billion in 2024, reflecting a compound annual growth rate (CAGR) of 12.2%. This growth during the historical period can be linked to factors such as increased complexity of equipment, higher healthcare expenditures, an emphasis on preventive maintenance, the emergence of specialized service providers, and concerns regarding quality and patient safety.

What Is the Anticipated Growth Rate and Market Size of the Global Medical Equipment Maintenance Market?

The medical equipment maintenance market is projected to experience significant growth in the coming years. It is anticipated to reach $64.09 billion by 2028, with a compound annual growth rate (CAGR) of 11.9%. This expected growth during the forecast period can be attributed to the incorporation of predictive analytics, continuous training and skill enhancement, increased equipment lifespan, a focus on patient safety and quality care, and rising demand for specialized service providers.

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What Is The Primary Growth Driver Of The Medical Equipment Maintenance Market?
The rising healthcare expenditure is anticipated to drive the growth of the medical equipment maintenance market in the future. Healthcare expenditure encompasses the funds allocated for healthcare and associated activities, including both private and public health insurance, health research, and public health initiatives. The increasing healthcare spending, prevalence of illnesses, and expanding elderly population are further fueling the demand for medical equipment maintenance services. As healthcare providers invest in more advanced medical equipment, the necessity for maintenance services also grows.

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Which Market Leaders Are Behind the Growth of the Medical Equipment Maintenance Market?
Key players in the medical equipment maintenance market include McKesson Corporation, Cardinal Health, Johnson & Johnson, Hitachi Ltd., General Electric Co, Thermo Fisher Scientific Inc., Abbott Laboratories, Fujitsu Limited, Medtronic plc, Danaher Corporation, Canon Inc., Toshiba International Corporation, Siemens Healthineers AG, FUJIFILM Holdings Corporation, Koninklijke Philips N.V., Stryker Corporation, Aramark Services Inc., Baxter International Inc., Laboratory Corporation of America Holdings Corp, Henry Schein Inc., Quest Diagnostics Incorporated,

What Key Trends Are Impacting The Size Of The Medical Equipment Maintenance Market?
Key companies in the medical equipment maintenance market are creating innovations like medical equipment service centers to enhance the Thai public health system. A medical equipment service center is a facility focused on the maintenance, repair, and calibration of medical devices and equipment.

How Is The Global Medical Equipment Maintenance Market Segmented?
1) By Service Type: Preventive Maintenance, Corrective Maintenance, Operational Maintenance
2) By Device: Imaging Equipment, Endoscopic Devices, Surgical Instruments, Electro-medical Equipment
3) By Technology: Multi-Vendor OEMs, Single-Vendor OEMs, Independent Service Organization, In-House Maintenance
4) By End User: Hospital, Diagnostic Imaging Centers, Dialysis Centers, Ambulatory Surgical Centers, Dental Clinics And Specialty Clinics, Other End Users

Regional Insights: North America Paving the Way in the Medical Equipment Maintenance Market
North America was the largest region in the market in 2023. Asia-Pacific is expected to be the fastest-growing region in the report during the forecast period. The regions covered in the report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa.

What Is The Definition Of The Medical Equipment Maintenance Market?
Medical equipment maintenance encompasses a series of activities aimed at ensuring the equipment remains operational. It is essential to maintain medical equipment in good working condition and to periodically calibrate it to ensure the accuracy and effectiveness of the results.

The Medical Equipment Maintenance Global Market Report 2024 from The Business Research Company includes the following key information:
• Market size data for both historical and future periods
• Analysis of both macro and microeconomic factors that have impacted the market over the past five years
• Regional market analysis covering Asia-Pacific, China, Western Europe, Eastern Europe, North America, the USA, South America, and the Middle East and Africa
• Country-specific market analysis for Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, the UK, and the USA.

Overview of the Global Medical Equipment Maintenance Market Report: Trends, Opportunities, Strategies, and More
The Medical Equipment Maintenance Global Market Report 2024 from The Business Research Company is an extensive resource that delivers insights into medical equipment maintenance market size, medical equipment maintenance market drivers and trends, medical equipment maintenance competitors' revenues, and medical equipment maintenance market growth across geographies. This report provides valuable in-depth insights into potential opportunities and strategies. Companies can utilize the information presented to target segments with the greatest growth potential.

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The Business Research Company
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