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Rising Expenditure To Built Enhanced Healthcare Structure To Boost Medical Equipment Maintenance Market Growth

25-Feb-2020 | Syndicate Market Research

It is extremely important for healthcare professionals like nurses, doctors, and others to have appropriately functioning medical equipment. Medical devices and equipment enable healthcare specialists to accurately check the patient’s health. These are used from diagnostic techniques to therapeutic treatments, surgeries, assisting experts in the emergency hospital room, and operating table. The increasing concentration on preventive medical equipment maintenance, the rising inclination toward buying advanced medical equipment, the increasing spending by major firms to put up healthcare infrastructure, the rising count of public-private partnerships, and technological developments for complex equipment maintenance are few major factors contributing to the growth of the medical equipment maintenance market.

In recent times, the healthcare industry has witnessed developments and advancements in terms of diagnostic equipment and medical devices worldwide. With the worldwide medical devices industry being extremely branched out, the market players fabricate a range of equipment to treat and diagnose patients experiencing diverse medical conditions. Maintenance—and in a few instances replacement—is required by medical devices following a specific time period as they have a certain life span. Thus, the flourishing medical devices industry is anticipated to fuel the growth of the medical equipment maintenance market in the coming years. In addition, several medical devices can be utilized in a number of applications and aren’t explicit to merely one domain of clinical application. For example, feeding tubes, dissecting scissors, surgical scalpels, catheters, dressing forceps, and numerous other devices can be utilized in many surgeries. Likewise, imaging devices like computed tomography scanners, MRI systems, X-ray imaging systems, and ultrasound systems are also utilized in several clinical applications. Thus, to amplify their life span, appropriate maintenance is needed for this equipment.

In Aug 2017, a preventative maintenance program was introduced by Montana State Hospital to enhance the functional life of equipment & buildings and to assure the safety of patients & personnel, who are utilizing the hospital facilities. Furthermore, an equipment management program is set by the University of Michigan hospital to assure reliable functioning and safety of medical equipment and effectual treatment of people, throughout the University of Michigan Hospitals and Health Centers (UMHHC). Within this initiative, every device category is allocated a preventive maintenance inspection plan and programmed to make certain that the equipment offers reliable and accurate data to clinicians. It is secure for operators as well as patients and is used to its fullest ability so as to enhance patient care. Consequently, this is anticipated to drive the expansion of the medical equipment maintenance market substantially during the forecast period.

In addition, the existence of a strict regulatory structure makes medical equipment maintenance an obligatory norm for end users. With such rules in place, a rise can be witnessed in the implementation of medical equipment maintenance services by overall all healthcare units further propelling the market growth. Nevertheless, the rise in the price of medical treatment & equipment, lack of healthcare expertise, and considerable charge of medical equipment maintenance are few of the factors hampering the growth of the global medical equipment maintenance market.

Nevertheless, the constant collaborations and acquisitions among the medical equipment maintenance market players are leading to enhanced services, elevated market share & scope of players, and accurate diagnosis. To cite, a US-located clinical engineering solutions provider for imaging and biomedical services at healthcare institutions, Horizon CSA LLC, was acquired by InterMed Group in January 2019. The acquirement of the portfolio of Horizon makes InterMed a significant contender in the East Coast of the US. Likewise, a healthcare technology firm, Alpha Source Inc., purchased a provider of all key medical imaging technologies and systems, BC Technical Inc., in November 2017. With this purchase, Alpha Source Inc. has turned out to be a self-sufficient full service, equipment repair solutions, and imaging services firm in the US.

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