Medical Equipment Maintenance Market 2018 - Global Forecast to 2023

DUBLIN, Nov 19, 2018 /PRNewswire/ --

The "Medical Equipment Maintenance Market by Device, Type, Service Provider & End User - Forecast to 2023" report has been added to ResearchAndMarkets.com's offering.

The medical equipment maintenance market is expected to reach USD 47.4 billion by 2023 from USD 28.9 billion in 2018, at a CAGR of 10.4% during the forecast period.

Factors such as the rising focus on preventive medical equipment maintenance, adoption of innovative funding mechanism, growth in associated equipment markets, and the purchase of refurbished medical equipment are expected to drive the growth of the market.

On the basis of device type, the medical equipment maintenance market is segmented into imaging equipment, endoscopic devices, surgical instruments, electromedical equipment, and other medical equipment. In 2018, the imaging equipment segment is expected to account for the largest share of the global market. This segment is also expected to grow at the highest CAGR during the forecast period. This growth is attributed to the high demand for maintenance services for imaging equipment, due to the high replacement cost and the need for ensuring maximum equipment uptime.

The global market, by service type, is segmented into corrective, preventive, and operational maintenance. In 2018, preventive maintenance is expected to account for the largest share of the global market. Technological advancements in medical devices and the consequent need for their preventive maintenance are expected to fuel market growth in this segment.

Based on service provider, the medical equipment maintenance market is segmented into original equipment manufacturers (OEMs), independent service organizations (ISOs), and in-house maintenance. In 2018, OEMs are expected to account for the largest share of the global market. The large share of the OEMs segment can primarily be attributed to their service quality, wide geographic presence, and strong technical expertise.

On the basis of end user, the global market is segmented into public-sector organizations and private-sector organizations. In 2018, the public-sector organizations segment is expected to account for the largest share of the global market. The dominance of public healthcare in most of the counties and the increase in value-based procurement of medical equipment are the major factors driving the growth of this end-user segment.

North America is expected to account for the largest market size during the forecast period

The market is dominated by North America, followed by Europe, Asia, and RoW. The market in Asia is expected to witness the highest growth during the forecast period. The high growth of the Asian market can be attributed to the increasing patient population, rising awareness on the benefits of early disease diagnosis, increasing public and private funding for the development of healthcare facilities, government initiatives for the modernization of healthcare infrastructure and the provision of quality care, and growing medical tourism in Asian countries.

The medical equipment maintenance market is highly fragmented in nature, with several big as well as emerging players. Prominent players in this market include GE Healthcare (US), Siemens Healthineers (Germany), Koninklijke Philips N.V. (Netherlands), Toshiba Medical System Corporation (Japan), FUJIFILM Holdings Corporation (Japan), Carestream Health, Inc. (US), Agfa-Gevaert Group (Belgium), Drgerwerk AG & Co. KGaA (Germany), Hitachi Medical Corporation (Japan), Aramark Services, Inc. (US), Althea Group (Italy), Olympus Corporation (Japan), B. Braun Melsungen AG (Germany), and BC Technical, Inc. (US).

Recent Developments

• In 2018, Koninklijke Philips N.V. (Netherlands) partnered with Kliniken der Stadt Kln (Germany) to provide continuous modernization and maintenance of imaging systems.
• In 2017, Siemens Healthineers signed an agreement with Kingston Hospital NHS Foundation Trust to provide MES for all medical imaging systems for 10 years.
• In 2016, Canon, Inc. (Japan) acquired Toshiba Medical Systems Corporation (Japan).

Key Questions addressed by the report

• Where will all these developments take the industry in the mid to long term?
• What types of annual and multi-year contracts are medical equipment maintenance companies exploring?
• What are the recent trends affecting original equipment manufacturers and independent service organizations?
• Which are the key players in the market and how intense is the competition?
• Which are the recent contracts and agreements key players have signed?

Key Topics Covered:

1 Introduction

2 Research Methodology

3 Executive Summary

4 Premium Insights
4.1 Medical Equipment Management Market Overview
4.2 Global Market, By Device Type & Region (2018)
4.3 Imaging Equipment Maintenance Market, By Modality, 2018 vs 2023 (USD Billion)
4.4 Global Market, By Service Type, 2018 vs 2023 (USD Billion)
4.5 Global Market, By Service Provider, 2018 vs 2023 (USD Billion)
4.6 Global Market: Geographical Snapshot

5 Market Overview
5.1 Introduction
5.2 Market Dynamics
5.2.1 Drivers
5.2.1.1 Growth in the Associated Equipment Markets
5.2.1.2 Rising Focus on Preventive Medical Equipment Maintenance
5.2.1.3 Adoption of Innovative Funding Mechanisms
5.2.1.4 Increasing Purchase of Refurbished Medical Systems
5.2.2 Restraints
5.2.2.1 High Initial Cost and Significant Maintenance Expenditure
5.2.3 Opportunities
5.2.3.1 Innovation in Service Offerings and Use of IoT
5.2.3.2 Emergence of ISOs
5.2.4 Challenges
5.2.4.1 Survival of Players in A Highly Fragmented and Competitive Market
5.2.5 Trends
5.2.5.1 Preference for Multi-Vendor Contracts
5.2.5.2 Equipment Maintenance Insurance (EMI) Tools for Imaging Centers

6 Regulatory Standards
6.1 Introduction
6.1.1 ISO Standards
6.1.1.1 ISO 9001:2015
6.1.1.2 ISO 13485:2016

7 Medical Equipment Maintenance Market, By Device Type
7.1 Introduction
7.2 Imaging Equipment
7.2.1 Advanced Imaging Modalities
7.2.1.1 CT
7.2.1.2 MRI
7.2.1.3 Other Advanced Medical Imaging Modalities
7.2.2 Primary Imaging Modalities
7.2.2.1 Digital X-Ray
7.2.2.2 Ultrasound
7.2.2.3 Other Primary Medical Imaging Modalities
7.3 Electromedical Equipment
7.4 Endoscopic Devices
7.5 Surgical Instruments
7.6 Other Medical Equipment
7.6.1 Life Support Devices
7.6.2 Dental Equipment

8 Medical Equipment Maintenance Market, By Service Type
8.1 Introduction
8.2 Preventive Maintenance
8.3 Corrective Maintenance
8.4 Operational Maintenance

9 Medical Equipment Maintenance Market, By Service Provider
9.1 Introduction
9.2 Original Equipment Manufacturers
9.2.1 Multi-Vendor OEMs
9.2.2 Single-Vendor OEMs
9.3 Independent Service Organizations
9.4 In-House Maintenance

10 Medical Equipment Maintenance Market, By End User
10.1 Introduction
10.2 Public Organizations
10.3 Private Organizations

11 Medical Equipment Maintenance Market, By Region

12 Competitive Landscape
12.1 Overview
12.2 Market Ranking Analysis
12.3 Competitive Situation and Trends
12.3.1 Agreements, Partnerships, and Collaborations
12.3.2 Service Launches
12.3.3 Acquisitions
12.3.4 Expansions

13 Company Profiles
13.1 GE Healthcare (A General Electric Company)
13.2 Siemens Healthineers (A Division of Siemens AG)
13.3 Koninklijke Philips N.V.
13.4 Canon Inc.
13.5 FUJIFILM Holdings Corporation
13.6 Aramark Services, Inc.
13.7 Althea (Previously Pantheon Healthcare Group, A Part of Permira Group)
13.8 Drgerwerk AG & Co. KGaA
13.9 Agfa-Gevaert Group
13.10 B. Braun Melsungen AG
13.11 Carestream Health, Inc. (Subsidiary of Onex Corporation)
13.12 Olympus Corporation
13.13 Bc Technical, Inc. (Part of Alpha Source Group)
13.14 Hitachi Medical Corporation (Hitachi, Ltd.)
13.15 Karl Storz GmbH & Co. Kg

For more information about this report visit https://www.researchandmarkets.com/research/hgv2nj/medical_equipment?w=5

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