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 growth of the North America medical equipment maintenance market is primarily driven by factors such as the rising prevalence of chronic diseases, the increasing volume of medical equipment, and a growing demand for refurbished medical systems. These factors are expected to fuel market expansion over the coming years. However, stringent regulatory policies may present challenges that could restrain future growth.
Refurbishment involves a systematic process that restores used medical equipment to a condition comparable to—or even better than—its original state. In the healthcare industry, this process extends the lifespan of medical devices from an average of 5–7 years to 10–14 years or more. This approach supports sustainability by promoting reuse and reducing waste.
Hospitals, as the primary end-users of capital medical equipment, have become increasingly cost-conscious due to economic pressures and the rising financial burden on healthcare systems. The sector is facing intense cost-saving demands, influencing purchasing behaviors. For instance, buyers are increasingly opting for standard products instead of premium ones, prioritizing lower operating expenses (OPEX) related to maintenance over high-cost innovation, and favoring refurbished systems over new, high-margin equipment.
From a hospital’s perspective, refurbished devices offer a cost-effective solution with reliable functionality and often come with substantial warranty coverage. While some end-users still prefer new devices due to concerns about quality and technological advancements, the value proposition of refurbished equipment continues to gain traction. As a result, the increasing adoption of refurbished medical devices is expected to significantly drive the North America medical equipment maintenance market.
In North America, the United States is projected to lead the regional market, supported by the country's robust medical device industry, high prevalence of chronic diseases, and the presence of several well-established industry players. These factors are expected to contribute to a strong and sustained growth trajectory for the medical equipment maintenance market in the U.S. 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
