The U.S. medical equipment maintenance market is slated to reach $12.6 billion by 2024, according to a new report by P&S Intelligence. Researchers attribute this increase to rising national healthcare expenditures, a large pool of installed medical devices in U.S. hospitals and diagnostic centers, and a huge presence of OEMs and HTM professionals in the United States.
On the basis of equipment type, P&S Intelligence segmented the U.S. medical equipment maintenance market into imaging equipment, electromedical devices, life support devices, surgical equipment, dental equipment, and endoscopes. Among these, imaging equipment is expected to be the fastest-growing category, advancing at a compound annual growth rate (CAGR) of 10.1% during the forecast period. The high cost of imaging equipment compared to other medical equipment—as well as the increasing adoption of imaging modalities, such as x-ray, CT, and ultrasound, for clinical applications—are key factors contributing to the growth of this category.

From a modality standpoint, P&S Intelligence further segmented the imaging equipment maintenance market into advanced and primary imaging modalities. Advanced imaging modalities are in high demand in the U.S., since most of the healthcare settings invest and incorporate these technologies, such as CT and MRI, rather than primary imaging modalities. Furthermore, the increasing adoption of equipment with advanced imaging modalities creates high demand for their maintenance, P&S Intelligence officials say.

Based on service type, the U.S. medical equipment maintenance market was classified into preventive, corrective, and operational services. Of these, the preventive category is predicted to lead the U.S. market, both in terms of size and growth, during the forecast period. This growth can be attributed to the increasing adoption of annual maintenance cost policies by hospitals and other end users in the U.S.

Moreover, on the basis of service provider, the U.S. medical equipment maintenance market was categorized into OEMs, independent service organizations and in-house HTM professionals. Of these, the OEM segment was the highest revenue-generating category in the U.S. in 2018, with more than 72.6% market share.

Finally, from an end-user standpoint, P&S Intelligence segmented the market into public-sector and private-sector organizations. The private-sector-organizations-as-an-end-user category is expected to grow at a faster rate during the forecast period, registering a CAGR of more than 10%, the researchers say.