According to a new report from Valuates Reports, the medical equipment maintenance market will grow from $34.79 billion in 2020 to $60.16 billion by 2026, with a compound annual growth rate of 9.56% during the forecast period.
The report indicates that major factors driving the growth of the medical equipment maintenance market include:
- Increasing awareness of the preventive maintenance of medical equipment in order to avoid expensive and time-consuming down time
- An increase in the purchase of refurbished medical equipment, as hospitals and clinics can reduce their capital expenditure while still maintaining quality
- Growth in associated equipment markets and adoption of innovative funding mechanisms
Regarding medical equipment maintenance market share, the report predicts the preventative maintenance segment is expected to hold the largest market share based on service type, the imaging equipment device segment is expected to hold the largest market share based on device type, and public organizations will account for the largest share based on end-user. Based on region, North America is expected to hold the largest medical equipment maintenance market share.
For more information, and to download the entire report, visit Valuates Reports.