Medical equipment maintenance market to reach USD 131.9B by 2032

The medical equipment maintenance market is propelled by two significant factors: the expanding installed base of medical equipment and the aging of existing devices. With healthcare facilities continuously developing and investing in new medical technologies, there is a heightened need for regular maintenance and repair services. The World Health Organization (WHO) forecasts the global medical device market to reach USD 603.5 billion by 2023, indicating a substantial installed base requiring ongoing maintenance. Furthermore, as medical equipment ages, it becomes increasingly susceptible to malfunctions and breakdowns, necessitating frequent servicing to uphold optimal performance and ensure patient safety.

Another crucial driver for the market’s growth is the imposition of stringent regulatory requirements and quality standards governing medical equipment maintenance. Regulatory bodies such as the U.S. Food and Drug Administration (FDA) and the European Medicines Agency (EMA) have established comprehensive guidelines and regulations to govern the maintenance and servicing of medical devices, ensuring their safety, efficacy, and reliability. For instance, the FDA’s Quality System Regulation (QSR) mandates that medical device manufacturers establish and maintain a quality system inclusive of equipment maintenance and repair provisions. Non-compliance with these regulations can lead to penalties, product recalls, and damage to reputation, compelling healthcare facilities to prioritize medical equipment maintenance and engage with qualified service providers. DataHorizzon Research