The medical equipment maintenance market expected to be US$ 16,943.29 Mn in 2018 and is predicted to grow at a CAGR of 9.0% during the forecast period 2019 - 2027, to reach US$ 36,525.26 Mn by 2027.
Medical equipment requires calibration, maintenance, repair, user training, and decommissioning, these activities are managed by clinical engineers. Medical equipment management programs (MEMPs) are conducted by most hospitals to fix, inspect, and maintain their medical devices. Preventive and corrective maintenance is concerned with frequency scheduled activities as well as repairs after the equipment is out of service.
Global medical equipment maintenance market, based on service type, was segmented as, preventive maintenance, corrective maintenance, and operational maintenance. In 2018, preventive maintenance segment led the market by the service type. In addition, the segment is also expected to grow at a fastest rate, due to rise in need to improve uptime of equipment and maintenance cost reduction.
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The prominent players in the medical equipment maintenance market focus on various growth strategies to enroot their presence and garner significant market share across the globe. The major market players within recent years have been observed to invest a substantial amount towards the development of new products. This implies a bright picture of the type of strategies majorly incorporated by the market players to retain their positions as well as to generate increased growth revenue in the medical equipment maintenance market. The global leaders in the market have been majorly adopting strategies such as mergers & acquisitions and agreements as key strategies to improve its product offerings in order to build up customer-centric benefits to its end users and enhance its geographic diversification.
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Apart from inorganic growth strategies, the companies have also adopted organic growth strategies such as acquisitions during recent years. For instance, in February 2018, Stryker acquired Entellus Medical, which is a high-growth Asia Pacific medical technology company that is focusing on delivering superior patient and physician experiences through products designed for the minimally invasive treatment for ENT.
The List of Companies
1. Stryker
2. Boston Scientific
3. Medtronic
4. Edward Lifesciences
5. Johnson & Johnson
6. Abbott Laboratories
7. Terumo Corporation
8. B. Braun Melsungen Ag
9. Aramark Services, Inc.
10. Althea
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