Regional Spotlight: Medical Equipment Maintenance in North America Demand Surge

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 North America medical equipment maintenance market is on an upward trajectory, propelled by several key factors. The increasing prevalence of chronic diseases, a growing volume of medical equipment in use, and the rising popularity of refurbished medical systems are all significant drivers. However, stringent regulatory policies are expected to pose a challenge to market growth in the coming years.

The Role of Refurbishment in Market Growth

Refurbishment plays a crucial role in this North America medical equipment maintenance market. It involves a systematic process to restore used medical equipment to a "like-new" or even superior condition. For medical devices, this often means extending their operational lifespan significantly—from an initial 5-7 years to 10-14 years or more. This process effectively promotes reuse and waste prevention within the healthcare sector.

Hospitals, as the primary consumers of capital medical equipment, are increasingly focused on cost-efficiency. This trend is a direct result of economic downturns and the escalating cost burden on healthcare systems. These cost pressures influence not only the demand for medical devices but also the types of devices preferred. For instance, hospitals may opt for standard products over premium ones, prioritize operational expenses (OPEX) for maintenance over new innovations, and increasingly choose refurbished systems over high-margin new devices. From a hospital's perspective, refurbished equipment presents a compelling value proposition, offering excellent functionality at a lower cost, often accompanied by a substantial warranty. While some end-users still favor new equipment due to perceived higher quality and innovativeness, the compelling advantages of refurbished devices are expected to significantly boost the North America medical equipment maintenance market.

Regional Dominance of the US

The US is anticipated to dominate the North American market for medical equipment maintenance. This dominance is attributed to the robust growth of the medical device industry in the country, coupled with the increasing prevalence of chronic diseases. Furthermore, the presence of numerous well-established players in the US medical device market is expected to fuel substantial growth in the medical equipment maintenance sector 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