Medical Equipment Maintenance Market Size Worth $61.7 Billion By 2027: Grand View Research, Inc.

Medical Equipment Maintenance Market Size Worth $61.7 Billion By 2027: Grand View Research, Inc.

PR Newswire

SAN FRANCISCO, Dec. 15, 2020

SAN FRANCISCO, Dec. 15, 2020 /PRNewswire/ -- The global medical equipment maintenance market size is expected to reach USD 61.7 billion by 2027, according to a new report by Grand View Research, Inc. It is expected to expand at a CAGR of 7.9% from 2021 to 2027. Rising focus on preventive device maintenance, adoption of advanced funding mechanisms, growth of the associated devices markets, and increasing market share of refurbished medical devices are anticipated to drive the market over the forecast period.

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Key suggestions from the report:

Read 110 page research report with ToC on "Medical Equipment Maintenance Market Size, Share & Trends Analysis Report By Equipment (Imaging Equipment, Surgical Instruments), By Service (Corrective Maintenance, Preventive Maintenance), And Segment Forecasts, 2021 - 2027" at: https://www.grandviewresearch.com/industry-analysis/medical-equipment-maintenance-market

In addition, a surge in the need for technologically advanced medical equipment and an increase in healthcare expenses are expected to propel the market growth. The maintenance of medical devices is a very essential procedure owing to the high use of devices in critical health matters. For instance, calibration is a vital procedure for any medical device to maintain and improve its precision and accuracy, thereby preventing any safety hazards.

Furthermore, the increasing prevalence of chronic diseases that require long-term patient care, coupled with a rapidly growing geriatric population, is anticipated to boost the market growth. Diseases such as pressure ulcers, diabetic foot, and cancer, which require long-term patient care, are expected to drive the market.

Growing demand and purchase of refurbished medical devices are other vital impacting factors that may propel the medical device maintenance market in the coming years. Additionally, the rising installation of technologically advanced medical devices in hospitals, diagnostic centers, and clinics is expected to drive the market over the forecast period. However, the higher maintenance cost is expected to restrain market growth.

Grand View Research has segmented the global medical equipment maintenance market based on equipment, service, and region:

List of Key Players of Medical Equipment Maintenance Market

Find more research reports on Medical Devices Industry, by Grand View Research:

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About Grand View Research

Grand View Research, U.S.-based market research and consulting company, provides syndicated as well as customized research reports and consulting services. Registered in California and headquartered in San Francisco, the company comprises over 425 analysts and consultants, adding more than 1200 market research reports to its vast database each year. These reports offer in-depth analysis on 46 industries across 25 major countries worldwide. With the help of an interactive market intelligence platform, Grand View Research helps Fortune 500 companies and renowned academic institutes understand the global and regional business environment and gauge the opportunities that lie ahead.

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