North America Medical Equipment Maintenance Market is anticipated to reach US$ 14,387.30 Mn in 2027 from US$ 6,542.44 Mn in 2018. The medical equipment maintenance market is expected to rise with a CAGR of 9.3% from 2019-2027.
Growth of the Medical Equipment Maintenance Market Driven by Chronic Diseases, Expanding Equipment Base, and Demand for Refurbished Systems
The North America Medical Equipment Maintenance Market is experiencing significant growth, fueled by factors such as the rising prevalence of chronic diseases, increasing adoption of medical devices, and growing demand for refurbished medical systems. However, stringent regulatory policies may pose challenges to market expansion in the coming years.
Refurbished Medical Equipment: A Cost-Effective Solution
Refurbishment is a systematic process that restores used equipment to like-new or better condition. For medical devices, refurbishing extends their lifespan—typically from 5–7 years to 10–14 years or more—making it a sustainable practice that promotes reuse and reduces waste.
Hospitals, the primary end-users of high-value medical equipment, are increasingly cost-conscious due to economic pressures and rising healthcare expenses. This has led to a shift in preferences, with many opting for:
- Standard rather than premium products
- Maintenance-focused operating expenses (OPEX) over costly innovations
- Refurbished systems instead of new, high-margin devices
From a hospital’s perspective, refurbished equipment offers a compelling advantage: high functionality at a lower cost, often backed by substantial warranties. However, some end-users still prefer new devices due to perceived quality and innovation concerns. Given these dynamics, the refurbished medical equipment market is expected to drive further growth in North America Medical Equipment Maintenance Market.
North America: US Leads Market Growth
The US is projected to dominate the North America Medical Equipment Maintenance Market, supported by:
- A robust medical device industry
- High prevalence of chronic diseases
- Strong presence of established market players
These factors are expected to sustain significant market expansion in the US over the forecast period.
NORTH AMERICA MEDICAL EQUIPMENT MAINTENANCE MARKET SEGMENTATION
North America Medical Equipment Maintenance Market By Device Type
- Electromedical Equipment
- Endoscopic Devices
- Surgical Instruments
- Other Medical Equipment
North America Medical Equipment Maintenance Market By Service Type
- Preventive Maintenance
- Corrective Maintenance
- Operational Maintenance
North America Medical Equipment Maintenance Market By Service Provider
- Original Equipment Manufactures
- Independent Service organization
- In-House Maintenance
North America Medical Equipment Maintenance Market By Geography
- North America
- US
- Canada
- Mexico
North America Medical Equipment Maintenance Market Company Profiles
- Boston Scientific Corporation
- Stryker
- Medtronic
- Edward Lifesciences Corporation
- Johnson & Johnson Services, Inc.
- Abbott
- Terumo Corporation
- B. Braun Melsungen AG
- Aramark
- Althea Group
Strategic Insights for the North America Medical Equipment Maintenance Market
To succeed in this evolving market, stakeholders must leverage data-driven insights to:
- Identify emerging trends and untapped opportunities
- Differentiate from competitors through unique value propositions
- Anticipate regulatory and technological shifts
- Optimize resource allocation and market positioning
A forward-looking approach is critical for long-term success, helping manufacturers, investors, and service providers align their strategies with future demand.
Regional Insights: Tailoring Strategies to Local Markets
The North America Medical Equipment Maintenance Market encompasses diverse regional dynamics, including:
- Varied consumer preferences (e.g., demand for specific technical features)
- Economic disparities across regions
- Differing regulatory landscapes
Businesses can enhance their market presence by:
- Targeting underserved regions
- Adapting products to local needs
- Deploying targeted marketing and competitive positioning strategies
By understanding these nuances, companies can optimize growth and profitability in the medical equipment maintenance sector.
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Author’s Bio:
Suryakant Gadekar
Senior Market Research Expert at Business Market Insights
