North America Medical Equipment Maintenance Market Growth and Analysis by 2027

North America medical equipment maintenance market is anticipated to reach US$ 14,387.30 Mn in 2027 from US$ 6,542.44 Mn in 2018. The medical equipment maintenance market is expected to rise with a CAGR of 9.3% from 2019-2027.

The rise of the medical equipment maintenance market is driven by factors such as the prevalence of chronic diseases, growing medical equipment, and increasing purchase of refurbished medical systems are expected to boost the market over the years. But, stringent regulatory policies are likely to hinder the growth of the market in the future years.

Refurbishment is the systematic process of delivering used equipment to the same condition as when new or even better. In the medical device or equipment, refurbishing means extending its lifetime of the machine, generally from 5 or 7 to 10 or 14 years or above. Hence it fits as a form or reuse and waste prevention. Hospitals are the primary end-users of capital medical equipment, and has become increasingly cost-conscious because of the economic downturn and increasing cost burden on healthcare systems. The healthcare sector is increasingly facing heavy cost pressures. These cost-saving pressures affect the demand for medical devices as well as the characteristics of these devices. For example, customers may prefer standard products over premium products, Operating expenses (OPEX) for maintenance over innovation, and preference for refurbished systems over high-margin new devices. From a hospital's point of view, refurbished equipment is a winning choice, because it provides excellent functionality at a low cost and with a substantial warranty period. At the same time, there still are some end-user groups that value new over the perceived lower quality and innovativeness of pre-owned equipment. Based on the above factors, the market for refurbished medical devices will propel the medical equipment maintenance market.

US is expected to dominate the market in the North America region, owing to the increase in the medical device industry in the US. Moreover, the prevalence of chronic diseases, the presence of various well-established players in the medical device market, is anticipated to increase significantly during the future period. Hence, considering the mentioned factors, the medical equipment maintenance market is expected to grow at a significant pace in the US during the forecast period.

US Medical Equipment Maintenance Market Revenue and Forecasts to 2027 (US$ Mn)

NORTH AMERICA MEDICAL EQUIPMENT MAINTENANCE – MARKET SEGMENTATION

By Device Type

• Electromedical Equipment
• Endoscopic Devices
• Surgical Instruments
• Other Medical Equipment

By Service Type

• Preventive Maintenance
• Corrective Maintenance
• Operational Maintenance

By Service Provider

• Original Equipment Manufactures
• Independent Service organization
• In-House Maintenance

By Geography

• North America
  • US
  • Canada
  • Mexico

Company Profiles

• Boston Scientific Corporation
• Stryker
• Medtronic
• Edward Lifesciences Corporation
• Johnson & Johnson Services, Inc.
• Abbott
• Terumo Corporation
• B. Braun Melsungen AG
• Aramark
• Althea Group

North America Medical Equipment Maintenance Report Scope