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Market Leader - Medical Equipment Maintenance Market

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. The growth of this market is mainly driven by the growth in associated equipment markets, rising focus on preventive medical equipment maintenance, adoption of innovative funding mechanisms, and the increasing purchase of refurbished medical systems.

The medical equipment maintenance market is highly fragmented in nature, with several big as well as emerging players vying for market shares. 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), Drägerwerk 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). 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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Koninklijke Philips N.V. is one of the leading OEMs in the medical equipment maintenance market. The company provides vendor-neutral service offerings for various medical equipment such as imaging equipment, surgical equipment, and endoscopic devices (flexible/rigid/fiberoptic). To expand its geographic presence and service offerings, the company is entering into service agreements with various healthcare providers. In 2018, Koninklijke Philips N.V. signed an agreement with Governments of Ethiopia and the Netherlands to construct Ethiopia’s first specialized Cardiac Care Center, where Philips will offer full turnkey design, construction, equipping, and commissioning of the hospital location, staff education, and equipment maintenance for five years after completion.

Siemens Healthineers is among the key players in the medical equipment maintenance market, due to its trend-setting role in the medical imaging, laboratory diagnostics, medical information technology, and hearing aid sectors. The company focuses on putting maximum efforts into its selected growth fields and prioritizes business for resource allocation. It also focuses on entering into service agreements with end users to ensure a continuous demand for its diverse services offerings, including MES, consulting, and HCIT services. One example of this is its 2017 agreement with the Kingston Hospital NHS Foundation Trust, to provide MES services for all medical imaging systems.

Related Reports:

Medical Equipment Maintenance Market by Device (Imaging (MRI, CT, X-ray, Ultrasound), Endoscopy, Life Support Devices), Type (Preventive, Operation), Service Provider (OEM (Multi-Vendors), ISO, In-house Maintenance) & End User (Public, Private) - Forecast to 2023

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