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Report Code: LS11124
Category : Medical Devices
Medical Equipment Maintenance Market Overview
Medical equipment is used for the wellbeing of human lives and due to their high cost, they need to be maintained properly in order to achieve maximum use from the capital invested in these equipment’s. Medical equipment require calibration, maintenance, repair, user training, and decommissioning, and these activities are usually managed by clinical engineers. There is a broad category of medical equipment that can be reprocessed such as, medical imaging machines including ultrasound, magnetic resonance imaging (MRI), and medical monitors to analyze the medical state of the patient and life support system such as ventilators. The medical equipment maintenance involves planning, management and implementation of various parameters in order to achieve optimal functionality of equipment for a long span of time.
On the basis of device type, the medical equipment maintenance industry is segmented into imaging equipment, endoscopic devices, surgical instruments, electromedical equipment, and other medical equipment. In 2016, the imaging equipment segment accounted for the largest share of the market. This growth is attributable to the high demand of maintenance services for imaging equipment, due to high replacement cost of such devices and the need for ensuring maximum operation of the equipment for a longer time.
On the basis of service type, the medical equipment maintenance market is segmented into corrective, preventive, and operational maintenance. Since all the maintenance types are important, it depends on the condition of the equipment, to assess the type of service it requires at a particular time. Preventive maintenance held the largest share of the global medical equipment maintenance market in 2016. The segment is expected to grow considerably in the forecast period (2017-2023), due to the growing technological advancements in medical devices and the need for their maintenance.
On the basis of service provider, the medical equipment maintenance market is segmented into original equipment manufacturers (OEMs), independent service organizations (ISOs), and in-house maintenance. OEMs are expected to contribute the largest share to the global market, mainly due to the better service quality of OEMs, access in more number of regions, and enhanced technical expertise.
On the basis of end users, the medical equipment maintenance market is segmented in to hospitals, clinics, diagnostic centers and other facilities. In 2017, hospitals are expected to account for the largest medical equipment maintenance market share. The key factor leading to the greater market share is the presence of public healthcare in majority of the countries, as well as the increase in value-based procurement of medical equipment.
Medical Equipment Maintenance Market Dynamics
The global medical equipment maintenance market is expected to grow significantly during the forecast period (2017-2023), due to the increasing awareness among end users for the preventive medical equipment maintenance, and increasing purchase of revamped medical systems.
The cost involved initially in the purchase and setup of medical devices and the expenditure involved in its maintenance is high which is expected to hinder the medical equipment maintenance market growth.
Opportunities and Trends
The advancements in various services offered by medical equipment maintenance companies and entry of various independent service organizations in the medical equipment maintenance market is likely to provide various opportunities to the players in this market. For instance, MESA Group Holdings (MESA), a Pantheon Healthcare Group company, acquired French diagnostic imaging service provider Sigil SAS, in 2015. The acquisition of Sigil SAS was aimed to accelerate the development and adoption of more efficient asset management and medical equipment maintenance service solutions for public and private sector hospitals and imaging centers.
The emerging trends observed in the medical equipment maintenance market include mergers and acquisitions of smaller companies by larger market players, in order to acquire larger market share, the preference of multi-vendor contracts by end users, and the emergence of equipment maintenance insurance tools for imaging centers. For instance, in 2014, Asteral Limited, an independent provider of managed services to the acute healthcare sector, merged with MESA Group Holdings to create a unified managed equipment and managed maintenance services Group. The new group ensured healthcare providers, across Europe, with these providers gaining benefit from an unrivalled asset management and service expertise throughout the product lifecycle of high-end medical systems and other clinical medical devices.
Medical Equipment Maintenance Insights by Geography
North America held the largest share in the medical equipment maintenance market in 2016, followed by Europe and Asia-Pacific. However, the market in the Asia-Pacific region is expected to witness the highest growth during the forecast period. The growth in Asia-Pacific market can be attributed to the rising awareness about the benefits of early disease diagnosis, increase in patient population, government initiatives for the development of healthcare infrastructure, increase in funding by public and private firms for the development of healthcare facilities and provision of quality care, and growing medical tourism in the emerging economies of Asia-Pacific.
Medical Equipment Maintenance Competitive Landscape
As the medical equipment maintenance market size is growing globally, the companies are trying to expand their business by introducing new products and shares of other players to gain greater market share.
In June 2017, Telematic & Biomedical Services SL (TBS ES), the Spanish subsidiary of TBS Group, was awarded the tender for the supply of maintenance services of all medical equipment (excluding diagnostic industry) of the Hospital de Santiago de Compostela for a total value of $1.36 million.
In July 2017, Pantheon Healthcare Group, provider of end-to-end managed equipment services and multi-vendor maintenance services to hospitals and diagnostic centres, completed the purchase of 95.4% share capital of TBS Group S.p.A. a provider of clinical engineering integrated solutions. This transaction was mainly aimed to strengthen the consolidation strategy of Pantheon Group.
The other key players in the global medical equipment maintenance market are GE Healthcare, Agfa-Gevaert Group, Drägerwerk AG & Co. KGaA, B. Braun Melsungen AG, Koninklijke Philips N.V., Canon, Inc., Fujifilm Holdings Corporation, Aramark Corporation, Pantheon Healthcare Group and Hitachi Ltd.
By Device Type
By Service Type
By Service Provider
By End User