The global medical equipment calibration services market is estimated to be valued at $1.3 billion in 2022 and is expected to exhibit a compound annual growth rate (CAGR) of 9.8% over the forecast period (2022-2030), according to Coherent Market Insights.
Key trends in the market include growing demand for calibration services, technological advancements in these services, increasing service launches by key players, and rising demand for refurbished medical devices. These key trends are expected to aid in growth of this market. Moreover, increasing launch of new schemes by the government for ensuring safety of medical device safety are expected to increase the demand for services and drive the market growth over the forecast period.
Furthermore, key players operating in the global medical equipment calibration services market are focusing on providing annual calibration services for customer satisfaction, in order to expand their market presence in the global market.
The global medical equipment calibration services market’s expected CAGR of 9.8% over the forecast period is owed to rising launches of medical devices along with periodic services provided by the medical device manufacturer.
Among end user, hospitals & clinics segment is expected to account for the largest market share in 2022, owing to the presence of large number of medical devices which require periodic calibrations for proper functioning.
For instance, according to a 2019 article published by the Journal of Biomedical Physics and Engineering, an average to large sized hospital contains more than 10,000 different types of medical devices such as electrosurgical units (ESU), defibrillators equipment, infusion pumps equipment, and others, which require regular quality testing and calibration for ensuring proper functioning of the medical device.
Key players operating in the global medical equipment calibration services market include Tektronix, Inc., NS Medical Systems, Fluke, Transcat, Inc., Helix Private Limited, Spectrum Technologies, JM Test Systems, Micron, JPen Medical, Industrial Calibration and Service Company, Inc., DD Group, Seal Calibration, Hospicare Equipment Services Corporation, ERD, LLC., Aussin, Calibrationhouse, Obelis UK Ltd, Autocal Systems, Forest Medical UK LTD, and Medisave UK Ltd.
