Home Healthcare IT Medical Equipment Maintenance Market Size, Demand and Growth Analysis Report 2032

Medical Equipment Maintenance Market

Medical Equipment Maintenance Market Size, Share & Trends Analysis Report By Service Type (Corrective Maintenance , Preventive Maintenance , Performance/Operational), By Service Provider (In-house Maintenance , Original Equipment Manufacturers , Independent Service Organizations), By Device Type (Endoscopic Devices , Electromedical Equipment , Surgical Instruments , Imaging Equipment), By End-User (Hospitals, Diagnostic Imaging Centers, Dialysis Centers, Ambulatory Surgical Centers, Dental Clinics and Speciality Clinics, Other End-Users) and By Region(North America, Europe, APAC, Middle East and Africa, LATAM) Forecasts, 2024-2032

Report Code: SRHI835DR
Study Period 2020-2032 CAGR 6.91%
Historical Period 2020-2022 Forecast Period 2024-2032
Base Year 2023 Base Year Market Size USD 40.25 billion
Forecast Year 2032 Forecast Year Market Size USD 73.37 billion
Largest Market North America Fastest Growing Market Asia-Pacific
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Market Overview

The global medical equipment maintenance market was valued at USD 40.25 billion in 2023. It is estimated to reach USD 73.37 billion by 2032, growing at a CAGR of 6.91% during the forecast period (2024–2032). In recent years, there has been a rise in the demand for refurbished medical equipment, as the new medical equipment is comparatively expensive. The demand for refurbished medical equipment is estimated to drive global market growth. In addition, a rise in the strategic initiatives initiated by the key players, especially collaborations that can help key players enhance their medical equipment maintenance market share, is estimated to create opportunities for market expansion.


  • Corrective maintenance dominates the service type segment
  • Imaging equipment dominates the device type segment
  • North America is the highest shareholder in the global market

Medical equipment maintenance refers to the ongoing process of ensuring that medical devices, instruments, and equipment used in healthcare facilities function properly, safely, and efficiently. It includes a series of activities designed to prevent equipment failure, maintain accuracy, and prolong the lifespan of medical devices.

Effective medical equipment maintenance is crucial for ensuring patient safety, improving the quality of healthcare services, and complying with regulatory standards and requirements. It helps healthcare facilities minimize downtime, reduce the risk of equipment failure during critical procedures, and optimize the use of resources. Proper maintenance can also contribute to cost savings by extending the lifespan of expensive medical equipment and reducing the need for frequent replacements.

Market Dynamics

Global Medical Equipment Maintenance Market Drivers:

Growing Demand for Refurbished Medical Equipment

In the last few years, refurbished medical equipment has been witnessing huge demand across the healthcare sector as new medical equipment is comparatively expensive. To address the situation, the leading players are actively working to develop advanced medical equipment with a wide range of devices to diagnose and treat patients suffering from several medical conditions, are heavily investing in R&D activities, and are engaging in several strategic acquisitions and partnerships for the same.

For instance, in January 2019, the Intermed Group acquired Horizon CSA LLC to expand its product portfolio and to offer biomedical and imaging services to healthcare organizations. For instance, dissecting scissors, surgical scalpels, catheters, feeding tubes, dressing forceps, and several other devices can be used in multiple surgeries. Similarly, imaging devices, such as computed tomography (CT), magnetic resonance imaging (MRI) systems, scanners, X-ray imaging, and ultrasound systems are used in multiple medical applications. These devices need to be maintained on a regular basis to increase their lifespan. The rapid growth in the adoption of novel technologies will boost the demand for advanced medical equipment and renewed or refurbished medical systems in the future.

Global Medical Equipment Maintenance Market Restraint:

Cost Constraints

Medical equipment maintenance can be expensive, particularly for complex or specialized devices. Costs can include labor, spare parts, software updates, and compliance with regulatory requirements. For healthcare providers with limited budgets, the high cost of maintenance services may be prohibitive, leading to deferred maintenance or reliance on cheaper, less reliable alternatives.

In some healthcare systems, reimbursement rates for maintenance services may need to be revised to adequately cover the costs incurred by providers, leading to financial losses or insufficient revenue to sustain maintenance programs. This can discourage investment in maintenance infrastructure and lead to a cycle of underfunding and suboptimal maintenance practices. This can lead to cost constraints, which are anticipated to hinder medical equipment maintenance market growth.

Global Medical Equipment Maintenance Market Opportunities:

Strategic Agreements and Collaborations

The key market players are involved in several strategic initiatives, especially collaborations. Collaborations enhance service offerings, expand market reach, and improve customer satisfaction. In March 2023, GE HealthCare announced that it had established a 10-year contract with Advantus Health Partners, with a potential value of USD 760 million. Advantus' clients will have access to GE HealthCare's healthcare technology management (HTM) services under the arrangement. Collectively, the companies strive to provide a comprehensive program that goes beyond the conventional method of maintaining medical devices. Advantus intends to utilize the agreement to bolster the provision of high-quality healthcare and achieve long-term expense reductions for its clients.

Additionally, in July 2023, Radon Medical Imaging (Radon) has recently acquired Tristate Biomedical Solutions, LLC (TBS). TBS is a company that specializes in the sale and service of medical equipment, including new, used, and refurbished imaging and biomedical equipment. Their expertise lies in C-arms, X-rays, and other imaging equipment. This acquisition aligns with Radon's objective to establish itself as a prominent player in the medical imaging sector. It enhances the company's operations by granting it entry to innovative solutions and technology while expanding its presence in different regions to enhance customer service. Such factors are projected to generate opportunities for medical equipment maintenance market expansion.

Regional Analysis

Based on region, the global medical equipment maintenance market share is bifurcated into North America, Europe, Asia-Pacific, Latin America, and the Middle East and Africa. 

North America Dominates the Global Market

North America is the most significant global medical equipment maintenance market shareholder and is expected to expand substantially during the forecast period. A well-developed healthcare infrastructure and a high level of adoption of innovative medical equipment characterize the North American market. The region has stringent rules in place. These factors are expected to contribute to the growth of the medical equipment maintenance industry. Moreover, the market participants are engaged in strategic endeavors such as mergers and acquisitions, collaborations, expansions, and integrating medical equipment maintenance technology with advanced technology. For instance, in March 2022, Arvizio, a prominent company in the field of augmented and mixed reality for businesses, introduced a range of features to facilitate the automation of augmented reality (AR) workflows in medical organizations. These capabilities assist healthcare workers and technicians in equipment training, operation, and maintenance.

Furthermore, in October 2020, Tennessee Gov. Bill Lee, Department of Economic and Community Development Commissioner Bob Rolfe, and ReNew Biomedical Services, LLC representatives announced that the company will be expanding its operations in Jackson. The project entails a financial commitment of USD 1 million and the generation of 43 job opportunities within the upcoming five years. ReNew Biomedical Services is a firm that provides maintenance and repair services for medical equipment. They cater to healthcare physicians and Emergency Medical Technicians in the United States. As a component of its expansion, ReNew will construct a novel training facility to educate biomedical equipment technicians to address the requirements of the medical equipment sector, with a particular emphasis on defibrillators, EKGs, vital signs monitors, AEDs, IV pumps, and ventilators. All of these factors contribute to the expansion of the regional market.

The Asia-Pacific healthcare sector is experiencing tremendous growth due to increasing awareness regarding equipment maintenance. Emerging nations such as China, India, Japan, and South Korea offer favorable opportunities for the region's medical equipment maintenance service providers. Moreover, the market participants are setting up new service centers for medical equipment maintenance. For instance, in July 2022, B. Braun Thailand, the global leader in the production and distribution of medical devices, opened the "B. Braun Technical Service Center ."This facility will offer top-notch repair and maintenance services for medical equipment. The recently established center seeks to bolster Thailand's public health system, ensuring its capacity to deliver uninterrupted healthcare assistance to its populace. The center is also in line with B. Braun's aim to safeguard and enhance the well-being of individuals globally. Therefore, these factors enhance the expansion of the regional market.

Report Scope

Report Metric Details
By Service Type
  1. Corrective Maintenance 
  2. Preventive Maintenance 
  3. Performance/Operational
By Service Provider
  1. In-house Maintenance 
  2. Original Equipment Manufacturers 
  3. Independent Service Organizations
By Device Type
  1. Endoscopic Devices 
  2. Electromedical Equipment 
  3. Surgical Instruments 
  4. Imaging Equipment
By End-User
  1. Hospitals
  2. Diagnostic Imaging Centers
  3. Dialysis Centers
  4. Ambulatory Surgical Centers
  5. Dental Clinics and Speciality Clinics
  6. Other End-Users
Company Profiles GE Healthcare Koninklijke Philips N.V Agfa-Gevaert HealthCare AGENOR MANTENIMIENTOS SA Althea Group BCAS Biomed Canon Medical Systems Corporation Drägerwerk AG & Co. KGaA Grupo Empresarial Electromédico
Geographies Covered
North America U.S. Canada
Europe U.K. Germany France Spain Italy Russia Nordic Benelux Rest of Europe
APAC China Korea Japan India Australia Singapore Taiwan South East Asia Rest of Asia-Pacific
Middle East and Africa UAE Turkey Saudi Arabia South Africa Egypt Nigeria Rest of MEA
LATAM Brazil Mexico Argentina Chile Colombia Rest of LATAM
Report Coverage Revenue Forecast, Competitive Landscape, Growth Factors, Environment & Regulatory Landscape and Trends
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Segmental Analysis

The global medical equipment maintenance market is bifurcated into service type, service provider, device type, and end-user.

Based on service type, the global market for medical equipment maintenance is segmented into corrective maintenance, preventive maintenance, and performance/operational. 

The corrective maintenance segment owns the medical equipment maintenance market share. Corrective medical equipment maintenance is fixing medical equipment when it experiences a malfunction or fails to operate as planned. This form of maintenance is commonly reactive, indicating that it is triggered as a response to a particular issue or problem with the equipment. The objective of corrective maintenance is to ascertain the primary cause of the failure, rectify the issue, and promptly reinstate the equipment to its optimal operational state to minimize any disruption to patient care. Tasks may include diagnosing and resolving issues, replacing defective parts, adjusting the equipment's settings, or conducting other necessary repairs. Corrective maintenance is crucial to medical equipment management for ensuring patient safety, preserving care quality, and extending costly equipment's lifespan.

Based on service providers, the global market for medical equipment maintenance is bifurcated into in-house maintenance, original equipment manufacturers, and independent service organizations. 

Original Equipment Manufacturers are companies that design, produce, and sell medical devices and equipment specifically intended for use in healthcare facilities. These companies generally manufacture diverse medical equipment, encompassing diagnostic equipment, therapeutic equipment, surgical instruments and tools, monitoring systems, rehabilitation equipment, and more. Original Equipment Manufacturer (OEM) maintenance services are crucial for upholding medical equipment's dependability, safety, and efficiency. This, in turn, ensures a high standard of patient care and reduces the time that healthcare facilities are out of operation.

Based on device type, the global market for medical equipment maintenance is bifurcated into endoscopic devices, electromedical equipment, surgical instruments, and imaging equipment. 

The imaging equipment segment dominates the global market. Medical imaging equipment encompasses a range of machinery and instruments employed to generate visual depictions of the human body's internal anatomy and physiological processes to aid in diagnosis and treatment. Imaging technologies are essential in modern medicine as they enable healthcare workers to see and evaluate the anatomy and physiology of patients non-invasively. Medical imaging equipment maintenance is the continuous effort to ensure that medical imaging systems, such as X-ray machines, MRI scanners, CT scanners, ultrasound machines, and others, operate at their best and safely.

Based on end-users, the global market for medical equipment maintenance is bifurcated into hospitals, diagnostic imaging centers, dialysis centers, ambulatory surgical centers, dental clinics and specialty clinics, and other end-users.

Hospitals must comply with stringent regulatory criteria on the maintenance and calibration of medical equipment to guarantee patient safety and the provision of high-quality healthcare. The requirement for regular maintenance services is driven by the need to adhere to laws established by organizations like the FDA, ISO, and local health authorities. Moreover, the rapid rate of technical advancement in medical equipment requires expert maintenance and service to stay abreast of growing equipment requirements. Hospitals frequently allocate resources toward acquiring advanced medical equipment that needs the expertise of professional specialists for maintenance and repair, resulting in an increasing need for maintenance services.

Market Size By Service Type

Market Size By Service Type
  • Corrective Maintenance 
  • Preventive Maintenance 
  • Performance/Operational
  • Recent Developments

    • April 2023- Dental Innovation Alliance (DIA) made its first investments in UptimeHealth, which is an early-stage dental technology company, following several months of foundational work. UptimeHealth streamlines dental equipment maintenance, repair, and procurement processes by utilizing automation and predictive analytics.
    • June 2023- The Gauteng Department of Health (GDoH) implemented maintenance contracts to ensure the regular maintenance of medical equipment and machinery, aiming to minimize any disruptions in service at healthcare institutions.

    Top Key Players

    Medical Equipment Maintenance Market Share of Key Players

    Medical Equipment Maintenance Market Share of Key Players
    GE Healthcare Koninklijke Philips N.V Agfa-Gevaert HealthCare AGENOR MANTENIMIENTOS SA Althea Group BCAS Biomed Canon Medical Systems Corporation Drägerwerk AG & Co. KGaA Grupo Empresarial Electromédico Others

    Frequently Asked Questions (FAQs)

    What is the estimated growth rate (CAGR) of the Medical Equipment Maintenance Market?
    Medical Equipment Maintenance Market size will grow at approx. CAGR of 6.9% during the forecast period.
    Some of the top prominent players in Medical Equipment Maintenance Market are,  GE HEALTHCARE (GENERAL ELECTRIC COMPANY), Siemens Healthineers, Koninklijke Philips N.V, Agfa-Gevaert HealthCare, AGENOR MANTENIMIENTOS SA, Althea Group, BCAS BIOMED, CANON MEDICAL SYSTEMS CORPORATION, Drägerwerk AG & Co. KGaA, Grupo EmpresarialElectromédico, etc.
    North America has been dominating the global market, accounting for the largest share of the market.
    The Asia Pacific region is projected to exhibit the highest rate of growth in the market.
    The global market report is segmented as follows: By Service Type, By Service Provider, By Device Type, By End-User

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