Wednesday, January 19, 2022
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Expanding Medical Device Industry Driving Medical Equipment Maintenance Market

The market growth is propelled by the improvements in medical devices, rise in the awareness regarding preventive maintenance, and stringent regulatory ecosystem. At present, end users are entering into multi-vendor contracts to reduce the complexities and additional expenses related to different services offered under individual agreements with the producers of medical equipment.

Get Deep Analysis With Revenue Estimation- Medical Equipment Maintenance Market

One of the key growth drivers for the medical equipment maintenance market is the advancements in the medical device industry. Manufacturers of medical equipment are developing an array of high-quality products by using innovative technologies, on account of the heavy investments in research and development (R&D) activities. Medical devices have a certain life expectancy and need maintenance or replacement after a certain time. Thus, the expansion of the medical device industry will boost the market growth during the forecast period.

Another factor supporting the medical equipment maintenance market growth is the rising awareness regarding preventive medical equipment maintenance. Healthcare facilities are emphasizing cleanliness due to the guidelines laid down by international organizations to prevent infections and improve the cleanliness regimen. For example, as per the hospital hygiene and infection control guidelines of the World Health Organization (WHO), hospitals must focus on equipment management. Due to this, healthcare facilities are adopting numerous types of maintenance services for various medical devices.

In 2019, the North American market generated the highest revenue, and it will continue to dominate the global industry in the forecast years. This can be attributed to the soaring number of hospitals, booming geriatric population, escalating demand for medical imaging systems, and growing burden of diseases in the region. According to the U.S. Census Bureau, the elderly population of North America is expected to outgrow the youth population by 2030. The older population is more prone to diseases and requires institutional care for a longer time than the younger generation.

Thus, the largescale construction of hospitals, rapid installation of advanced medical equipment, and increasing awareness regarding preventive medical equipment maintenance will fuel the market growth in the coming years.

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