HOME Research Insight Key Players in the Medical Equipment Maintenance Market Pursue Partnerships, Agreements, and Collaborations as their Key Growth Strategies



Key Players in the Medical Equipment Maintenance Market Pursue Partnerships, Agreements, and Collaborations as their Key Growth Strategies


The medical equipment maintenance market is expected to reach USD 32.94 Billion by 2022 from USD 20.31 Billion in 2017, at a CAGR of 10.2% 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 increasing purchase of refurbished medical systems

Partnerships, collaborations, and agreements were the key growth strategies adopted players operating in the market. Some of the leading players who adopted this strategy include Hitachi, Ltd. (Japan), Medtronic plc (Ireland), and Pantheon Healthcare Group (Italy).

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 (U.S.), Siemens Healthineers (Germany), Koninklijke Philips N.V. (Netherlands), Toshiba Medical System Corporation (Japan), FUJIFILM Holdings Corporation (Japan), Carestream Health, Inc. (U.S.), Agfa-Gevaert Group (Belgium), Drägerwerk AG & Co. KGaA (Germany), Hitachi Medical Corporation (Japan), Aramark Services, Inc. (U.S.), TBS Group S.p.A. (Italy), Pantheon Healthcare Group (Italy), Olympus Corporation (Japan), B. Braun Melsungen AG (Germany), and BC Technical, Inc. (U.S.).

Koninklijke Philips N.V. is one 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. For instance, in 2015, Koninklijke Philips N.V. renewed their existing ten years agreement to supply, install, maintain, and upgrade radiology equipment with the Sint Maartenskliniek Hospital (Netherlands).

Siemens Healthineers is among the key players in the medical equipment maintenance market. The company adopts inorganic growth strategies such as partnerships and agreements to expand its market presence. For instance, in 2016, Siemens Healthineers signed an agreement with Sandwell and the West Birmingham Hospitals NHS Trust to provide management services and solutions for medical imaging equipment. The company focuses on launching technologically advanced medical devices and related maintenance services to enhance its market share.

Related Reports:

Medical Equipment Maintenance Market by Device (Imaging (MRI, CT, PET, SPECT, X-ray, Ultrasound, C Arm), Endoscopy, ECG, EMG, Defibrillator, Dental, Ventilator), Service Provider (OEM, ISO, In house), End User (Public, Private) - Global Forecast to 2022

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