According to the new market research report, "Medical Equipment Maintenance Market by Product (Imaging (MRI, CT, PET-CT, ultrasound, X-ray), Endoscopes, Lasers, Ventilators, Dialysis, Monitors), Provider (OEM, ISO, In-house), Service (Preventive, Operational), User (Hospital, ASCs) - Forecast to 2026", is projected to reach USD 74.2 billion by 2026 from USD 45.2 billion in 2021, at a CAGR of 10.4% during the forecast period.

Global Industry Growth Boosting Factors:

The growth of this market is mainly driven by the growing number of medical vendors across globe, increasing adoption of patient-specific medical devices. Moreover, Growth in this market is primarily driven by the rising focus on preventive medical equipment maintenance, growth in associated equipment markets, adoption of innovative funding mechanisms, and the increasing purchase of refurbished medical equipment. However, the high initial costs and significant maintenance expenditure may hinder the growth of this market during the forecast period.

Overview:

This study involved the extensive use of both primary and secondary sources. The research process involved the study of various factors affecting the industry to identify the segmentation types, industry trends, key players, competitive landscape, fundamental market dynamics, and key player strategies.

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Report Objectives:

# To define, describe, and forecast the Medical Equipment Maintenance market on the basis of service type, service provider, device type, end user and countries.

# To provide detailed information regarding the major factors influencing the growth potential of the Medical Equipment Maintenance market (drivers, restraints, opportunities, challenges, and trends).

# To analyze the micromarkets with respect to individual growth trends, future prospects, and contributions to the Medical Equipment Maintenance market.

# To analyze key growth opportunities in the Medical Equipment Maintenance market for key stakeholders and provide details of the competitive landscape for market leaders.

# To forecast the size of market segments and/or subsegments with respect to five major regions, namely, North America (US and Canada), Europe (Germany, France, the UK, Italy, Spain, and the RoE), Asia Pacific (Japan, China, India, and the RoAPAC), Latin America (Brazil, Mexico, and RoLATAM), and the Middle East & Africa.

# To profile the key players in the Medical Equipment Maintenance market and comprehensively analyze their market shares and core competencies.

# To track and analyze the competitive developments undertaken in the Medical Equipment Maintenance market, such as agreements; expansions; and mergers & acquisitions.

North America is expected to dominate the global medical equipment maintenance market in 2020

North America, comprising the US and Canada, accounted for the largest share of the medical equipment maintenance market in 2020. Increasing number of vendors manufacturing for medical equipment maintenance and a growing number of approvals for advanced, medical devices are the major factors driving market growth in North America. Customers in North America are moving towards outsourcing maintenance services for curbing expense, which is increasing demand for medical equipment maintenance. This trend will have a positive impact on the medical equipment maintenance market.

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Key Market Players:

GE Healthcare (US), Siemens Healthineers (Germany), Koninklijke Philips N.V. (Netherlands), Medtronic plc (Ireland), and FUJIFILM Holdings Corporation (Japan), Canon, Inc. (Toshiba Medical System Corporation, Japan), Agfa-Gevaert Group (Belgium), Carestream Health, Inc. (US), Drägerwerk AG & Co. KGaA (Germany), Hitachi Medical Corporation (Japan), Althea Group (Italy), Olympus Corporation (Japan), B. Braun Melsungen AG (Germany), KARL STORZ GmbH & Co. KG (Germany), and Aramark Services, Inc. (US) among others are some of the major players operating in the Medical Equipment Maintenance market.