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 growth of the North America medical equipment maintenance market is being driven by several key factors, including the rising prevalence of chronic diseases, the expanding use of medical equipment, and the increasing adoption of refurbished medical systems. These trends are expected to contribute to the market’s expansion in the coming years. However, stringent regulatory policies may pose challenges and restrain market growth in the future.
Refurbishment involves a systematic process that restores used medical equipment to a condition comparable to, or even better than, its original state. In the healthcare industry, refurbishing typically extends the life cycle of medical devices from around 5–7 years to 10–14 years or more. This makes refurbishment a sustainable solution aligned with reuse and waste reduction efforts.
Hospitals, the primary end-users of capital medical equipment, have become increasingly cost-conscious due to economic pressures and rising healthcare expenditures. These financial constraints are reshaping demand within the healthcare sector. As a result, many healthcare providers are opting for standard devices over premium options, prioritizing operating expenditure (OPEX) for maintenance instead of investing in costly innovations, and choosing refurbished equipment over brand-new high-margin devices. From the hospital’s perspective, refurbished systems offer reliable performance at a lower cost, often accompanied by substantial warranty coverage. Nevertheless, some end-users still prefer new equipment, driven by concerns about the quality and innovation of pre-owned devices.
Considering these dynamics, the growing preference for refurbished equipment is expected to significantly drive the North America medical equipment maintenance market.
In North America, the United States is projected to lead the market, supported by the strong presence of a well-established medical device industry, increasing prevalence of chronic diseases, and ongoing technological advancements. Given these factors, the U.S. medical equipment maintenance market is expected to experience substantial growth during the forecast period.
North America Medical Equipment Maintenance Market Segmentation
North America medical equipment maintenance market By Device Type
- Electromedical Equipment
- Endoscopic Devices
- Surgical Instruments
- Other Medical Equipment
North America medical equipment maintenance market By Service Type
- Preventive Maintenance
- Corrective Maintenance
- Operational Maintenance
North America medical equipment maintenance market By Service Provider
- Original Equipment Manufactures
- Independent Service organization
- In-House Maintenance
North America medical equipment maintenance market By Geography
- North America
- US
- Canada
- Mexico
North America medical equipment maintenance market 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 market Strategic Insights
Strategic insights for the North America Medical Equipment Maintenance provides data-driven analysis of the industry landscape, including current trends, key players, and regional nuances. These insights offer actionable recommendations, enabling readers to differentiate themselves from competitors by identifying untapped segments or developing unique value propositions. Leveraging data analytics, these insights help industry players anticipate the market shifts, whether investors, manufacturers, or other stakeholders. A future-oriented perspective is essential, helping stakeholders anticipate market shifts and position themselves for long-term success in this dynamic region. Ultimately, effective strategic insights empower readers to make informed decisions that drive profitability and achieve their business objectives within the market.
North America medical equipment maintenance market Regional Insights
The geographic scope of the North America Medical Equipment Maintenance refers to the specific areas in which a business operates and competes. Understanding local distinctions, such as diverse consumer preferences (e.g., demand for specific plug types or battery backup durations), varying economic conditions, and regulatory environments, is crucial for tailoring strategies to specific markets. Businesses can expand their reach by identifying underserved areas or adapting their offerings to meet local demands. A clear market focus allows for more effective resource allocation, targeted marketing campaigns, and better positioning against local competitors, ultimately driving growth in those targeted areas.
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Author’s Bio:
Suryakant Gadekar
Senior Market Research Expert at Business Market Insights
