The medical equipment maintenance market in North America is projected to grow at a CAGR of 7.65% from 2023 to 2028 and worth USD 18.72 billion by 2028 from USD 12.95 billion in 2022.
The growing prevalence of chronic disease is one of the major factors boosting the medical equipment maintenance market forward in the North American region. Several types of equipment are used to treat chronic diseases. Nearly fifty percent of all Americans have at least one chronic disease. Across the North American region, chronic diseases such as cancer, diabetes, hypertension, stroke, heart disease, respiratory diseases, arthritis, obesity, and oral diseases are growing aggressively and accelerating the hospitalization rates, long-term disability, and reduced quality of life. As per the Centers for Disease Control, in the U.S., chronic diseases account for nearly 75 percent of healthcare spending. As a result, maintaining medical equipment is a major one for preventing chronic diseases from improving their overall quality of life.
Increasing equipment maintenance in hospitals is another factor promoting market growth in North America. For hospitals to provide medical care services, medical equipment maintenance and replacement are essential. In addition, medical technology management at the hospital level can reduce medical equipment malfunctions.
Increasing preventive maintenance is also anticipated to drive the North American medical equipment maintenance market. Preventative maintenance is done on equipment to prevent the equipment from further damage. These tests are simple as a functionality check, while some equipment would need more involved maintenance like replacing worn parts like gaskets and filters or thoroughly cleaning sensitive areas. Routine maintenance can improve the productivity of the company.
However, increasing equipment complexity and specialization network integration, specialized maintenance and repair, and rising standards for compliance, safety, reliability, and accuracy have all grown to the challenges of managing medical devices in recent years, hindering the market growth. In addition, lack of trained professionals, lack of awareness about maintenance, and unfavorable policies also restrain the market growth.
This research report on the North American medical equipment maintenance market has been segmented and sub-segmented into the following categories.
Life Support Devices
Other Medical Equipment
The United States
Rest of North America
North America held the most significant global medical equipment maintenance market share in 2022. The US Food and Drug Administration (USFDA) and equipment manufacturers impose requirements on hospitals about equipment maintenance. According to a 2019 Population Reference Bureau survey, more than 52 million Americans aged 65 and over live in the country. It is predicted that by 2028, it to reach 62 million. Chronic diseases like diabetes, cancer, and other chronic lifestyle disorders are more common in the older population.
In 2019, there were 6,210 hospitals registered in the United States, according to information released by the American Hospital Association in January 2022. Because there are more hospitals in the region and more medical devices are being used extensively for diagnosis and treatment, there will undoubtedly be a greater need for medical equipment maintenance. In 2020, iFixit will provide a substantial maintenance database for ventilators and other medical equipment. Collecting service information to maintain medical equipment is a challenge for hospitals. However, utilizing this database has enabled successful maintenance.
KEY MARKET PLAYERS:
GE Healthcare, Siemens Healthineers, Koninklijke Philips N.V., Drägerwerk AG & Co. KGaA, Medtronic, B. Braun Melsungen AG, Aramark, BC Technical, Inc., Alliance Medical Group, and Althea Group are some of the companies playing a significant role in the North America medical equipment maintenance market profiled in this report.
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