Medical equipment maintenance service providers are leveraging the increasing use of refurbished medical devices in the healthcare sector for aid in revenue generation options.
DUBLIN, IRELAND / ACCESSWIRE / January 12, 2021 / The global medical equipment maintenance market is projected to reach a valuation of approximately US$ 60 Bn by the end of the forecast period from 2020 to 2030.
The wide range of medical devices used in diagnostic and treatment applications for varying ailments supports market growth. According to Fact.MR's market study, the market is likely to be moderately affected during Covid-19 pandemic owing to the unprecedented burden on healthcare infrastructure and the need for functional medical devices.
'Strict operational protocols in medical facilities, and awareness about numerous life-threatening ailments will drive the market. Advances in cutting-edge medical devices, and the increase in purchase of low-cost, refurbished medical equipment support the global medical equipment maintenance market,' says the Fact.MR analyst.
Medical Equipment Maintenance Market- Key Takeaways
- Imaging equipment maintenance will hold major market share of over 30%, driven by investments into diagnostic procedures.
- Preventive maintenance applications reflect faster growth owing cost and reliability benefits.
- North America is a leading regional market for medical equipment maintenance supported a higher number of ambulatory surgical centers and hospitals.
Medical Equipment Maintenance Market- Driving Factors
- Advances in IoT towards monitoring the condition of medical devices is a key factor aiding developments in the market.
- Efforts by healthcare facilities to cut costs through the use of refurbished equipment will drive market growth.
Medical Equipment Maintenance Market- Key Restraints
- High costs of medical equipment maintenance services are a major challenge hindering adoption in the industry.
- Limitations in terms of adequately skilled professionals for operating medical equipment maintenance, is a challenge to manufacturers.
COVID-19 Impact on Medical Equipment Maintenance Market
The medical equipment maintenance market has moderately impacted by the coronavirus pandemic. The need for critical medical equipment for life-threatening ailments will support the demand for maintenance services in the short term.
On the other hand, lockdown restrictions and regulations on elective medical procedures will hurt demand for select non-emergency equipment in fields such ophthalmology, and cosmetic surgery among others. Demand is likely to continue growing strongly in the post pandemic period, supported by a backlog of diagnostic and treatment cases.
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Terumo Corporation, Agenor Mantenimientos, Abbott, Agfa-Gevaert NV, Johnson & Johnson, Althea Group, Edward Lifesciences, B.Braun Melsungen Ag, Medtronic, BCAS Biomedical Services Ltd, and Boston Scientific are some of the more prominent medical equipment maintenance manufacturers in the global market.
Medical equipment maintenance market players have been largely focused on the expansion of the product and services portfolio with the aid of strategic collaborations, acquisitions, and mergers in addition to research and development efforts.
For instance, Sodexo in December 2020, collaborated with the Association of Healthcare Providers (AHPI) to unveil the Sodexo Healthcare Technology Management, a biomedical equipment mobile app to provide maintenance and lifecycle management services.
In June 2020, Accruent announced a partnership with Attainia to integrate data insights on medical equipment maintenance for Attania's capital equipment planning software platform. In October 2020, PartsSource.com initiated medical equipment repair on-site services through its ecommerce platform.
About the Report
This study offers readers a comprehensive market forecast of the medical equipment maintenance market. Global, regional and country-level analysis of the top industry trends impacting the medical equipment maintenance market is covered in this Fact.MR study. The report offers insights on the medical equipment maintenance market on the basis of device (Imaging equipment, endoscopic devices, surgical instruments, electro-medical equipment, and others), across five regions (North America, Latin America, Europe, Asia Pacific, and Middle East & Africa).
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