This study involved the extensive use of both primary and secondary sources. The research process involved the study of various factors affecting the industry to identify the segmentation types, industry trends, key players, competitive landscape, key market dynamics, and key player strategies.
Secondary Research
The secondary research process involves the widespread use of secondary sources, directories, databases (such as Bloomberg Businessweek, Factiva, and D&B Hoovers), white papers, annual reports, company house documents, investor presentations, and SEC filings of companies. Secondary research was used to identify and collect information useful for the extensive, technical, market-oriented, and commercial study of the medical equipment maintenance market. It was also used to obtain important information about the key players and market classification & segmentation according to industry trends to the bottom-most level and key developments related to market and technology perspectives. A database of the key industry leaders was also prepared using secondary research.
Primary Research
In the primary research process, various sources from both the supply and demand sides were interviewed to obtain qualitative and quantitative information for this report. The primary sources from the supply side include industry experts such as CEOs, vice presidents, marketing and sales directors, technology & innovation directors, and related key executives from various key companies and organizations in the medical equipment maintenance market. The primary sources from the demand side include medical OEMs, medical device ISOs, and service providers, among others. Primary research was conducted to validate the market segmentation, identify key players in the market, and gather insights on key industry trends & key market dynamics.
Breakdown of Primary Interviews:
A breakdown of the primary respondents for medical equipment maintenance market (supply side) market is provided below:
*Others include sales managers, marketing managers, business development managers, product managers, distributors, and suppliers.
Note: Companies are classified into tiers based on their total revenue. As of 2023, Tier 1 = >USD 2 billion, Tier 2 = USD 50 million to USD 2 billion, and Tier 3 = <USD 50 million.
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Market Estimation Methodology
In this report, the global medical equipment maintenance market size was arrived at by using the revenue share analysis of leading players. For this purpose, key players in the market were identified, and their revenues from the medical equipment maintenance business were determined through various insights gathered during the primary and secondary research phases. Secondary research included the study of the annual and financial reports of the top market players. In contrast, primary research included extensive interviews with key opinion leaders, such as CEOs, directors, and key marketing executives.
To calculate the global market value, segmental revenues were calculated based on the revenue mapping of major solution/service providers. This process involved the following steps:
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Generating a list of major global players operating in the medical equipment maintenance market
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Mapping annual revenues generated by major global players from the medical equipment maintenance segment (or nearest reported business unit/service category)
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Revenue mapping of key players to cover a major share of the global market as of 2023
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Extrapolating the global value of the medical equipment maintenance industry
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Supply-Side Analysis - Revenue Share Analysis
Revenue Share Analysis Illustration of Koninklijke Philips N.V.
Data Triangulation
After arriving at the overall market size from the market size estimation process explained above, the global medical equipment maintenance market was split into segments and subsegments. Data triangulation and market breakdown procedures were employed to complete the overall market engineering process and arrive at the exact statistics for all segments and subsegments. The data was triangulated by studying various factors and trends from both the demand and supply sides. Additionally, the medical equipment maintenance market was validated using both top-down and bottom-up approaches.
Market Definition
Medical equipment maintenance encompasses a comprehensive suite of services including monitoring, diagnosing failures, supplying spare parts, corrective maintenance, preventive maintenance, automation and upgrades, inventory management and testing, consulting, planning equipment renewal, and user training. It is indispensable for identifying and preempting potential performance issues before they escalate, thus optimizing equipment performance and curtailing operational costs. These critical services are typically executed internally or outsourced to Original Equipment Manufacturers (OEMs) or Independent Service Organizations (ISOs), ensuring the sustained reliability and efficiency of healthcare equipment.
Key Market Stakeholders
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Original equipment manufacturers
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Independent service providers
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Independent service organizations
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Product distributors and channel partners
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Hospitals and surgical centers
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Dental hospitals, laboratories, and clinics
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Dental academic and research institutes
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Ambulatory care centers and physician-operated laboratories
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Contract manufacturers and third-party suppliers
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Research laboratories and academic institutes
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Clinical research organizations
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Contract manufacturing organizations
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Government and non-governmental regulatory authorities
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Venture capitalists and investors
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Trade associations and industry bodies
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Insurance companies
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Market research and consulting firms
Objectives of the Study
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To define, describe, and forecast the medical equipment maintenance market on the basis of device type, service type, service provider, end user, contract type, and region.
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To provide detailed information regarding the major factors influencing the growth potential of the global medical equipment maintenance market (drivers, restraints, opportunities, challenges, and trends).
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To analyze the micro markets with respect to individual growth trends, future prospects, and contributions to the global medical equipment maintenance market.
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To analyze key growth opportunities in the global medical equipment maintenance market for key stakeholders and provide details of the competitive landscape for market leaders.
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To forecast the size of the global medical equipment maintenance market in North America, Europe, the Asia Pacific, Latin America, and the Middle East & Africa.
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To profile the key players in the global medical equipment maintenance market and comprehensively analyze their market shares and core competencies.
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To track and analyze the competitive developments undertaken in the global medical equipment maintenance market, such as agreements, expansions, and & acquisitions.
Available Customizations:
With the given market data, MarketsandMarkets offers customizations as per the company’s specific needs. The following customization options are available for the present global medical equipment maintenance market report:
Service Analysis
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Service matrix, which gives a detailed comparison of the service portfolios of the top twelve companies
Company Information
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Detailed analysis and profiling of additional market players (up to 13)
Geographic Analysis
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Further breakdown of the Rest of Europe's medical equipment maintenance market into Russia, Belgium, the Netherlands, Switzerland, Austria, Finland, Sweden, Poland, and Portugal among other
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Further breakdown of the Rest of Asia Pacific medical equipment maintenance market into Singapore, Taiwan, New Zealand, Philippines, Malaysia, and other APAC countries
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Further breakdown of the Rest of the Latin America medical equipment maintenance market into Argentina, Chile, Peru, and Colombia, among other
Gerald
Mar, 2022
Can you share the detailed information on technological advancements in the Medical Equipment Maintenance Market?.
Harold
Mar, 2022
In what way COVID19 is Impacting the global growth of the Medical Equipment Maintenance Market?.
Sean
Mar, 2022
Can you enlighten us about the key players operating in the global Medical Equipment Maintenance Market?.