The medical equipment maintenance market is expected to reach $24.83 billion by 2022 from $15.30 billion in 2017, at a compound annual growth rate (CAGR) of 10.2% during the forecast period, according to a new report from MarketsandMarkets. On the basis of end user, the market is segmented into public sector organizations and private-sector organizations. In 2017, private-sector organizations are expected to register the highest CAGR during the forecast period. The increasing number of public-private partnerships is expected to boost the demand for medical equipment maintenance services. On the basis of the region, the market is segmented into North America, Europe, Asia, and the rest of the world. In 2017, North America is expected to account for the largest share of the market, followed by Europe. The largest share of the North American market is attributed to such factors as an increasing aging population, rising incidence of lifestyle-related diseases, access to quality healthcare, well-established healthcare infrastructure, high adoption of advanced technology, and the presence of prominent players. In 2017, Europe is expected to hold the second largest share. Factors such as an expanding patient population; rising focus on early diagnosis; growing number of diagnostic imaging procedures; and strategic agreements, partnerships, and collaborations between service providers and end users are expected to fuel the market growth in this region.
December 4, 2012
July 10, 2015