A recently published report reveals that the global Medical Equipment Calibration Services Market achieved sales of US$ 1.6 billion in 2024. The market is anticipated to reach a valuation of US$ 4 billion by 2032. Hospitals are expected to contribute the highest revenue during the forecast period.
The demand for automated product testing has surged, especially in the aftermath of the COVID-19 pandemic, as industries recognize its importance in manufacturing processes. The pandemic has further accelerated the adoption of automation to minimize human involvement in the production process. Consequently, machine vision technology has become an integral component of long-term automation innovation.
2. Rising Research and Development Efforts: Increased research and development activities and the growing demand for medical devices further contribute to the growth of the medical device calibration market.
3. Demand for Reconditioned Diagnostic Instruments: The rising demand for reconditioned diagnostic instruments and higher corporate spending on healthcare infrastructure bolster market expansion.
4. Medical Device Recalls: The surge in medical device recalls, as indicated by the FDA's annual lists, drives the need for medical device calibration. When a medical device fails to meet accuracy and precision standards, it must be recalibrated to enhance its quality, with all processes meticulously recorded.
2. Lead Time for International Certification Examinations: International certification examinations in the global market often require a significant lead time for businesses. Delays in product import and export due to these examinations can lead to risks such as client loss, product quality concerns, and time wastage.
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Key Market Insights
The global medical equipment calibration services market is undergoing significant transformations, driven by factors such as drug-device combinations, customized treatment approaches, and increased adoption of wearable and portable medical devices. Technological advancements, including the integration of IoT technology and Artificial Intelligence (AI) into various medical devices, play a pivotal role in the industry's growth. Manufacturers are making substantial investments in testing these devices to ensure they comply with rigorous regulations.The demand for automated product testing has surged, especially in the aftermath of the COVID-19 pandemic, as industries recognize its importance in manufacturing processes. The pandemic has further accelerated the adoption of automation to minimize human involvement in the production process. Consequently, machine vision technology has become an integral component of long-term automation innovation.
Factors Driving Demand for Medical Equipment Calibration Services
1. Growing Healthcare Expenditure: Increasing healthcare expenditure, expanding laboratory facilities, stringent environmental regulations, and a heightened focus on overall quality by customers are driving the demand for calibration services in the healthcare sector.2. Rising Research and Development Efforts: Increased research and development activities and the growing demand for medical devices further contribute to the growth of the medical device calibration market.
3. Demand for Reconditioned Diagnostic Instruments: The rising demand for reconditioned diagnostic instruments and higher corporate spending on healthcare infrastructure bolster market expansion.
4. Medical Device Recalls: The surge in medical device recalls, as indicated by the FDA's annual lists, drives the need for medical device calibration. When a medical device fails to meet accuracy and precision standards, it must be recalibrated to enhance its quality, with all processes meticulously recorded.
Challenges and Restraints
1. Excessive Regulatory Restrictions: While promoting medical device standards and control is vital, excessive regulatory restrictions, especially in the home setting, can hinder local device innovation. Prolonged and costly licensing processes can raise barriers to the adoption of new technology, impacting local manufacturers' costs and time investment.2. Lead Time for International Certification Examinations: International certification examinations in the global market often require a significant lead time for businesses. Delays in product import and export due to these examinations can lead to risks such as client loss, product quality concerns, and time wastage.
U.S. Medical Equipment Calibration Services Market Analysis
Technological advancements in medical equipment measurement techniques are expected to improve quality assessment, efficacy evaluation, and the precise measurement of medical equipment output. These advancements will influence regional market trends, with a significant contribution to regional market profits anticipated from the substantial number of market participants in the U.S. region.Competitive Landscape
Key players in the medical equipment calibration services market include Tektronix, Fluke Biomedical, Biomedical Technologies, NS Medical Systems, Transcat, JM Test Systems, JPen Medical, TAG Medical, and Hospicare Equipment Services Corp.Key Companies Profiled
- Tektronix
- Fluke Biomedical
- Biomedical Technologies
- NS Medical Systems
- Transcat
- JM Test Systems
- JPen Medical
- TAG Medical
- Hospicare Equipment Services Corp.
Market Segmentation
By Service
- OEM
- Third Party Services
By End-user
- Hospitals
- Clinical Laboratories
- Other End-users
By Region
- North America
- Europe
- Asia Pacific
- Middle East and Africa
- Latin America
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Table of Contents
1. Executive Summary
2. Market Overview
3. Global Medical Equipment Calibration Services Market Outlook, 2018 - 2031
4. North America Medical Equipment Calibration Services Market Outlook, 2018 - 2031
5. Europe Medical Equipment Calibration Services Market Outlook, 2018 - 2031
6. Asia Pacific Medical Equipment Calibration Services Market Outlook, 2018 - 2031
7. Latin America Medical Equipment Calibration Services Market Outlook, 2018 - 2031
8. Middle East & Africa Medical Equipment Calibration Services Market Outlook, 2018 - 2031
9. Competitive Landscape
10. Appendix
Companies Mentioned
- Tektronix
- Fluke Biomedical
- Biomedical Technologies
- NS Medical Systems
- Transcat
- JM Test Systems
- JPen Medical
- TAG Medical
- Hospicare Equipment Services Corp.
Methodology
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