Medical Equipment Maintenance Market Report 2025

The medical equipment maintenance market size has grown rapidly in recent years. It will grow from $40.56 billion in 2024 to $45.36 billion in 2025 at a compound annual growth rate (CAGR) of 11.8%. The growth in the historic period can be attributed to increased equipment complexity, rise in healthcare spending, focus on preventive maintenance, specialized service providers, quality and patient safety concerns.

The medical equipment maintenance market size is expected to see rapid growth in the next few years. It will grow to $71.76 billion in 2029 at a compound annual growth rate (CAGR) of 12.2%. The growth in the forecast period can be attributed to integration of predictive analytics, ongoing training and skill development, extended equipment longevity, emphasis on patient safety and quality care, demand for specialized service providers. Major trends in the forecast period include telehealth expansion, environmental sustainability, outsourcing maintenance services, shift to preventive maintenance, remote monitoring solutions.

The growing demand for medical devices is significantly driving the expansion of the medical equipment maintenance market. Medical devices include instruments, machines, and apparatus used for medical purposes to prevent, diagnose, or treat diseases. As the demand for these devices rises, effective maintenance services become essential to reduce dispatch costs, enhance patient satisfaction, ensure timely treatment, and minimize risks and fatalities during patient care. For example, Invest India, a national investment promotion and facilitation agency in India, reports that the Indian medical devices market is currently valued at around $11 billion and is projected to grow to $50 billion by 2025. Thus, the increasing demand for medical devices is expected to propel the growth of the medical equipment maintenance market in the coming years.

The increasing healthcare expenditure is anticipated to drive the growth of the medical equipment maintenance market in the future. Healthcare expenditure encompasses the total funds allocated to healthcare and related activities, including both private and public health insurance, health research, and public health initiatives. Rising healthcare spending, along with the prevalence of diseases and a growing geriatric population, is fueling the demand for medical equipment maintenance services. As healthcare providers invest in advanced medical technologies, the need for maintenance services becomes more critical. For example, a report from the Office for National Statistics, a UK-based government department, indicated that healthcare spending in the UK rose by 5.6% between 2022 and 2023, compared to a mere 0.9% growth in 2022. In 2023, the UK healthcare expenditure was approximately $317.63 billion (£292 billion). Thus, the increasing healthcare expenditure is a key driver of growth for the medical equipment maintenance market.

Major companies in the medical equipment maintenance market are forming strategic partnerships to bolster their service capabilities, broaden their market reach, and enhance customer satisfaction. These collaborations enable companies to leverage each other’s strengths by integrating innovative technologies with established service networks. For example, in March 2023, GE HealthCare, a US-based leader in medical technology and digital solutions, entered into a partnership with Advantus Health, valued at up to $760 million over a 10-year span. This collaboration aims to deliver GE’s Healthcare Technology Management (HTM) services to Advantus clients, thereby improving the maintenance and management of medical equipment and enhancing the overall quality of healthcare.

Major companies in the medical equipment maintenance market are introducing innovations, such as the establishment of medical equipment service centers, to support the Thai public health system. A medical equipment service center is a dedicated facility for maintaining, repairing, and calibrating medical devices and equipment. For example, in July 2022, B. Braun, a US-based company specializing in smart infusion therapy and pharmacy products, inaugurated the Technical Service Center. This center offers high-quality medical equipment repair and maintenance services and is staffed by a team of skilled engineers trained to service all of the company's medical equipment. Moreover, the center uses only genuine B. Braun parts to ensure the highest quality of repairs.

In October 2022, Aspen Surgical, a US-based manufacturer of medical devices, acquired Symmetry Surgical Inc. for an undisclosed amount. This acquisition is intended to strengthen Aspen Surgical's product offerings in surgical instruments and supplies by potentially gaining access to Symmetry’s established product lines, technologies, and market presence. Symmetry Surgical Inc. is also a US-based company specializing in medical equipment manufacturing.

Major companies operating in the medical equipment maintenance market include Hitachi Ltd., General Electric Co, Medtronic plc, Danaher Corporation, Canon Inc., Toshiba International Corporation, Siemens Healthineers AG, FUJIFILM Holdings Corporation, Koninklijke Philips N.V., Stryker Corporation, Aramark Services Inc., Baxter International Inc., Henry Schein Inc., Quest Diagnostics Incorporated, B. Braun Melsungen AG, Olympus Corporation, Dentsply Sirona Inc., Drägerwerk AG & Co KGaA, Hill-Rom Holdings Inc., Getinge AB, KARL STORZ SE & Co KG, Carestream Health Inc., Althea Group Holdings Ltd.

North America was the largest region in the medical equipment maintenance market in 2024. Asia-Pacific is expected to be the fastest-growing region in the forecast period. The regions covered in the medical equipment maintenance market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa. The countries covered in the medical equipment maintenance market report are Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK, USA, Canada, Italy, Spain.

Medical equipment maintenance involves a series of activities aimed at ensuring that medical devices remain operational. Regular maintenance and calibration are essential to ensure the accuracy and effectiveness of medical equipment.

In the medical equipment maintenance sector, the main types of services are preventive maintenance, corrective maintenance, and operational maintenance. Preventive maintenance involves regularly scheduled maintenance to keep equipment functioning optimally and prevent unexpected breakdowns. Corrective maintenance addresses issues that arise unexpectedly, while operational maintenance focuses on maintaining equipment functionality during regular use. These services can be provided by multi-vendor original equipment manufacturers (OEMs), single-vendor OEMs, independent service organizations, or in-house maintenance teams. They cover various medical devices such as imaging equipment, endoscopic devices, surgical instruments, and electro-medical equipment and are utilized in hospitals, diagnostic imaging centers, dialysis centers, ambulatory surgical centers, dental clinics, and specialty clinics.

The medical equipment maintenance market research report is one of a series of new reports that provides medical equipment maintenance market statistics, including the medical equipment maintenance industry global market size, regional shares, competitors with a medical equipment maintenance market share, detailed medical equipment maintenance market segments, market trends and opportunities, and any further data you may need to thrive in the medical equipment maintenance industry. This medical equipment maintenance market research report delivers a complete perspective of everything you need, with an in-depth analysis of the current and future scenarios of the industry.

The medical equipment maintenance market consists of revenues earned by entities that are engaged in the service of preventive maintenance, periodic inspection, and corrective maintenance of medical equipment. The market value includes the value of related goods sold by the service provider or included within the service offering. Only goods and services traded between entities or sold to end consumers are included.

The market value is defined as the revenues that enterprises gain from the sale of goods and/or services within the specified market and geography through sales, grants, or donations in terms of the currency (in USD, unless otherwise specified).

The revenues for a specified geography are consumption values that are revenues generated by organizations in the specified geography within the market, irrespective of where they are produced. It does not include revenues from resales along the supply chain, either further along the supply chain or as part of other products.

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