Medical Equipment Maintenance Market Size Worth $61.7 Billion By 2027
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.
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.
Related Press Release @ Medical Equipment Maintenance Market Report
Medical Equipment Maintenance Market Report Highlights
Based on equipment, the imaging equipment segment dominated the market with a share of 35.8% in 2020
owing to increasing consumption of the de