Medical Equipment Maintenance Industry Analysis, Leading Players and Forecast Report 2030

Posted by Aryan on October 31st, 2023

The medical equipment maintenance market will advance at a 9.4% CAGR, to touch USD 45.1 billion, by 2030.

The growth of the industry is attributed to the strict regulatory environment, increasing consciousness regarding preventive maintenance, and developments in medical devices all over the world.

The imaging equipment category, based on equipment type, will dominate the industry in the years to come. This is credited to the widespread adoption of imaging equipment for numerous medical conditions, such as neurological and cancer illnesses.

The preventive and predictive services category, based on service type, will observe the fastest medical equipment maintenance market growth in the years to come. This is primarily because of the extensive services provided by service providers in this category, which creates enormous cost savings for public and private sector organizations.

The OEMs category, based on service providers, dominated the industry, because of the advanced and faster maintenance services provided by them.

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Moreover, based on the OEM type, the multi-vendor category will generate higher revenue in the industry throughout this decade, and it will also be the faster-growing category in the coming years, primarily due to a broader portfolio of services offered by them as compared to single-vendor OEMs.

Based on end users, the public-sector organization's category dominated the industry, both in terms of size and growth. This is credited to the fact that the number of medical centers operate by public-sector organizations is larger than private-sector organizations, therefore resulting in a higher requirement for maintenance services as compared to the private sector.

Additionally, the rising number of government hospitals number and increasing support of healthcare offered by governments to patients resulted in a higher implementation of medical devices by these end users, as a result boosting the growth of the industry.

In recent years, North America held the major industry share, and it will maintain its position in the years to come. This is because of the growing number of hospitals, the mounting elderly population, the rising acceptance of medical imaging systems, and the increasing disease burden.

The APAC medical equipment maintenance industry will propel with the highest growth rate in the years to come. This is mainly attributed to factors such as the growing number of diagnostic tests and increasing incidence of chronic illnesses that need medical devices for early diagnosis. Additionally, the number of hospitals in APAC is also rising every year.

Hence, with the increasing consciousness regarding preventive medical equipment as well as the existence of a strict regulatory environment, the global medical equipment maintenance industry will continue to grow significantly in the years to come.