North America Medical Equipment Maintenance Market
No. of Pages: 123 | Report Code: TIPRE00008086 | Category: Life Sciences
No. of Pages: 123 | Report Code: TIPRE00008086 | Category: Life Sciences
The rise of the medical equipment maintenance market is driven by factors such as the prevalence of chronic diseases, growing medical equipment, and increasing purchase of refurbished medical systems are expected to boost the market over the years. But, stringent regulatory policies are likely to hinder the growth of the market in the future years.
Refurbishment is the systematic process of delivering used equipment to the same condition as when new or even better. In the medical device or equipment, refurbishing means extending its lifetime of the machine, generally from 5 or 7 to 10 or 14 years or above. Hence it fits as a form or reuse and waste prevention. Hospitals are the primary end-users of capital medical equipment, and has become increasingly cost-conscious because of the economic downturn and increasing cost burden on healthcare systems. The healthcare sector is increasingly facing heavy cost pressures. These cost-saving pressures affect the demand for medical devices as well as the characteristics of these devices. For example, customers may prefer standard products over premium products, Operating expenses (OPEX) for maintenance over innovation, and preference for refurbished systems over high-margin new devices. From a hospital's point of view, refurbished equipment is a winning choice, because it provides excellent functionality at a low cost and with a substantial warranty period. At the same time, there still are some end-user groups that value new over the perceived lower quality and innovativeness of pre-owned equipment. Based on the above factors, the market for refurbished medical devices will propel the medical equipment maintenance market.
US is expected to dominate the market in the North America region, owing to the increase in the medical device industry in the US. Moreover, the prevalence of chronic diseases, the presence of various well-established players in the medical device market, is anticipated to increase significantly during the future period. Hence, considering the mentioned factors, the medical equipment maintenance market is expected to grow at a significant pace in the US during the forecast period.
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.
| Report Attribute | Details |
|---|---|
| Market size in 2018 | US$ 6,542.44 Million |
| Market Size by 2027 | US$ 14,387.30 Million |
| Global CAGR (2019 - 2027) | 9.3% |
| Historical Data | 2016-2017 |
| Forecast period | 2019-2027 |
| Segments Covered |
By Device Type
|
| Regions and Countries Covered | North America
|
| Market leaders and key company profiles |
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.
The List of Companies – North America Medical Equipment Maintenance Market
The North America Medical Equipment Maintenance Market is valued at US$ 6,542.44 Million in 2018, it is projected to reach US$ 14,387.30 Million by 2027.
As per our report North America Medical Equipment Maintenance Market, the market size is valued at US$ 6,542.44 Million in 2018, projecting it to reach US$ 14,387.30 Million by 2027. This translates to a CAGR of approximately 9.3% during the forecast period.
The North America Medical Equipment Maintenance Market report typically cover these key segments-
The historic period, base year, and forecast period can vary slightly depending on the specific market research report. However, for the North America Medical Equipment Maintenance Market report:
The North America Medical Equipment Maintenance Market is populated by several key players, each contributing to its growth and innovation. Some of the major players include:
The North America Medical Equipment Maintenance Market report is valuable for diverse stakeholders, including:
Essentially, anyone involved in or considering involvement in the North America Medical Equipment Maintenance Market value chain can benefit from the information contained in a comprehensive market report.
Office No. 1011, First floor, Farena Corporate Park, Magarpatta-Mundhwa road, Pune - 411028, Maharashtra, India
UK+442030260021, US:+16467917070
sales@businessmarketinsights.com
Get Free Sample For North America Medical Equipment Maintenance Market
