Global Medical Equipment Maintenance Industry is Under Constant Transformation

Posted by Makarand Vaidya on February 13th, 2020

Recent Developments in the Global Industry:

In 2018, Koninklijke Philips N.V. (Netherlands) signed a partnership agreement with Kliniken der Stadt Köln (Germany) to provide continuous modernization and maintenance of imaging systems

In 2018, Koninklijke Philips N.V. (Netherlands) signed a partnership agreement with Städtische Klinikum München (Germany) to provide medical imaging solutions which include healthcare consultancy services

In 2016, Biomedical Srl sugned an agreement with ASST Orobica (Spain) for provision of integrated services for the management and maintenance of healthcare devices and equipment

Critical questions the report answers:

Where will all these developments take the industry in the long term?
# What are the upcoming trends for the medical equipment repair market?
# Which segment provides the most opportunity for growth?
# Who are the leading vendors operating in this market?
What are the opportunities for new market entrants?

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Factors Influencing Global Growth:-

The major factors that are expected to be driving the medical equipment repair market are rising focus on preventive medical equipment maintenance, growth in associated equipment markets, adoption of innovative funding mechanisms, and the increasing purchase of refurbished medical equipment.

Monetary Growth Expectations, Globally:

According to the Research Study conducted by MarketsandMarkets™: The Medical Equipment Maintenance Market is expected to reach USD 74.1 billion by 2027 from USD 28.9 billion in 2018, at a CAGR of 10.4% during the forecast period.

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Geographical Growth Scenario:

North America is expected to lead the medical equipment maintenance market in 2023

On the basis of the region, the medical equipment maintenance market is segmented into North America, Europe, Asia, and the RoW. In 2018, North America is expected to account for the largest share of the market, followed by Europe, The largest share of the North American market is attributed to the factors such as the rise in aging population and incidence of lifestyle-related diseases, access to quality healthcare, well-established healthcare infrastructure, high adoption of advanced technology, and the presence of prominent players.

In 2018, Europe is expected to hold the second-largest share. Factors such as expanding patient population, rising focus on early diagnosis, growing number of diagnostic imaging procedures, and strategic agreements, partnerships, and collaborations between service providers and end users are expected to fuel market growth in this region.

Leading Market Players:

# GE Healthcare (US)
Koninklijke Philips N.V. (Netherlands)
Siemens Healthineers (Germany)
Toshiba Medical Systems Europe (Germany)
FUJIFILM Holdings Corporation (Japan)
Carestream Health, Inc. (U.S.) and many more…

The medical equipment maintenance market is highly fragmented in nature, with several big as well as emerging players vying for market shares.

These players have adopted various strategies, such as partnerships, agreements, collaborations, and product launches to further expand their presence in the global medical equipment maintenance market. Partnerships, collaborations, and agreements have been the key growth strategies adopted during 2016 to 2018, by players such as Hitachi, Ltd. (Japan), Medtronic plc (Ireland), and Althea Group (Italy).

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Makarand Vaidya

About the Author

Makarand Vaidya
Joined: July 3rd, 2019
Articles Posted: 116

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