Global Medical Equipment Maintenance Market to Reach $70.87 Billion at a Steady 12% CAGR by 2029

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The Business Research Company’s Medical Equipment Maintenance Global Market Report 2025 - Market Size, Trends, And Global Forecast 2025-2034

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How Large Will The Medical Equipment Maintenance Market Be By 2025?
In recent times, the medical equipment maintenance market has witnessed a swift expansion. The market, currently valued at $40.56 billion in 2024, is predicted to increase to $45.07 billion in 2025, with a compound annual growth rate (CAGR) of 11.1%. Factors such as higher complexity of equipment, escalating healthcare expenditure, emphasis on preventive maintenance, availability of specialized service providers, and concerns about quality and patient safety have contributed to the historical growth trajectory.

In the forthcoming years, the market size for medical equipment maintenance is predicted to undergo swift expansion. The estimated growth forecasts a rise to $70.87 billion by 2029, with a compound annual growth rate (CAGR) of 12.0%. Factors contributing to this growth in the outlook period include advancements in predictive analytics, continuous training and skill enhancement, improved equipment lifespan, emphasis on safety of patients and quality healthcare, and increased demand for specialized service providers. Anticipated trends during this forecast period encompass the growth of telehealth, focus on environmental sustainability, subcontracting maintenance services, transition to preventive maintenance, and remote monitoring solutions.

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What Are The Major Driving Forces Influencing The Medical Equipment Maintenance Market Landscape?
The surge in the need for medical devices is playing a crucial role in driving the expansion of the medical equipment maintenance market. Medical equipment – such as tools, machines, and apparatus – are employed for medical purposes including diagnosis, prevention and treatment of diseases. The escalating need for medical devices calls for efficient maintenance services, to reduce delivery expenses, curtail patient dissatisfaction, guarantee swift patient care, and reduce risk and mortality during patient treatment. As reported by Invest India, a National Investment Promotion and Facilitation Agency based in India, the Indian medical devices market is currently worth approximately $11 billion and is predicted to grow to $50 billion by 2025. Therefore, the rising demand for medical devices is forecasted to stimulate the growth of the medical equipment maintenance market in the future.

Who Are The Top Players In The Medical Equipment Maintenance Market?
Major players in the Medical Equipment Maintenance include:

• Hitachi Ltd.
• General Electric Co
• Medtronic plc
• Danaher Corporation
• Canon Inc.
• Toshiba International Corporation
• Siemens Healthineers AG
• FUJIFILM Holdings Corporation
• Koninklijke Philips N.V.
• Stryker Corporation

What Are The Key Trends Shaping The Medical Equipment Maintenance Industry?
Leading enterprises in the medical equipment maintenance market are forming strategic alliances to boost their service capabilities, extend their market foothold, and heighten customer satisfaction. These strategic alliances enable firms to capitalize on mutual strengths, such as integrating state-of-the-art technologies with entrenched service networks. For example, in March 2023, GE HealthCare, an American medical technology and digital solutions trailblazer, entered into a partnership with Advantus Health. This collaboration is estimated to be worth up to $760 million over a decade. The goal of this partnership is to offer GE’s Healthcare Technology Management (HTM) services to Advantus clients, thereby improving the upkeep and administration of medical equipment and augmenting healthcare quality.

Market Share And Forecast By Segment In The Global Medical Equipment Maintenance Market
The medical equipment maintenancemarket covered in this report is segmented –

1) By Service Type: Preventive Maintenance, Corrective Maintenance, Operational Maintenance
2) By Device: Imaging Equipment, Endoscopic Devices, Surgical Instruments, Electro-medical Equipment
3) By Technology: Multi-Vendor OEMs, Single-Vendor OEMs, Independent Service Organization, In-House Maintenance
4) By End User: Hospital, Diagnostic Imaging Centers, Dialysis Centers, Ambulatory Surgical Centers, Dental Clinics And Specialty Clinics, Other End Users

Subsegments:
1) By Preventive Maintenance: Scheduled Maintenance, Calibration Services, Performance Testing
2) By Corrective Maintenance: Repair Services, Replacement of Parts, Emergency Repair Services
3) By Operational Maintenance: Daily Operation Checks, User Training and Support, Software Updates and Upgrades

View the full medical equipment maintenance market report:
https://www.thebusinessresearchcompany.com/report/medical-equipment-maintenance-global-market-report

Medical Equipment Maintenance Market Regional Insights
In 2024, North America led the medical equipment maintenance market. It is anticipated that the quickest expanding region in the forecast period will be Asia-Pacific. The report on the medical equipment maintenance market incorporates regions such as Asia-Pacific, Western Europe, Eastern Europe, North America, South America, the Middle East, and Africa.

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