The global medical equipment maintenance market is projected to grow at a compound annual growth rate (CAGR) of 10.67% from 2023 to 2030, according to a new report published by Verified Market Research.

The report reveals that the market was valued at $51.7 billion in 2022 and is expected to reach $94.1 billion by the end of the forecast period.

The “Global Medical Equipment Maintenance Market Size By Type, By Maintenance Type, By Consumers, By Geographic Scope And Forecast” report provides an in-depth analysis of the global medical equipment maintenance market, including its growth prospects, market trends, and market challenges.

The study delves deep into the impact of the global demographic shift, particularly the exponential rise in the geriatric population witnessed in regions such as China, Japan, the US, and Europe. This demographic change has led to a surge in chronic conditions, coupled with lifestyle-related diseases, increasing the demand for healthcare services globally, according to the report.

One of the significant challenges faced by the industry has been the high cost of medical devices, restricting their accessibility in low- and middle-income countries. However, emerging markets are proving to be hotbeds of innovation, offering novel opportunities for established players and newcomers alike. The study explores these challenges and the innovative prospects that emerging economies bring to the table.

North America stands as a beacon of progress in the global Medical Equipment Maintenance Market, according to Verified Market Research. Its well-established healthcare sector, equipped with state-of-the-art medical technologies, has positioned market players for extensive growth.

The study spotlights industry giants including GE Healthcare, Drägerwerk AG & Co. KGaA, Koninklijke Philips N.V., Siemens Healthineers, Medtronic, B. Braun Melsungen AG, Aramark, Althea Group, BC Technical Inc, and Alliance Medical Group, showcasing their strategies and innovations that have reshaped the industry.

This study also provides in-depth analyses of industry trends, innovative solutions, and the strategic moves of key players within the medical equipment maintenance market.

Verified Market Research is a global research and consulting firm servicing over 5,000 customers. Verified Market Research provides advanced analytical research solutions while offering research studies.