Overview and Scope
Medical equipment calibration services refer to the method of configuring the measurement and the accuracy of the medical device or medical system being used in hospitals. They offer advanced healthcare treatment, including diagnosis, monitoring, and therapy. The medical equipment calibration services are used in hospitals for the maintenance of the medical equipment and to monitor the patients to offer the best services
Sizing and Forecast
The medical equipment calibration services market size has grown rapidly in recent years. It will grow from <b>$1.48 billion in 2023 to $1.64 billion in 2024 at a compound annual growth rate (CAGR) of 11.2%. </b> The growth in the historic period can be attributed to global health preparedness, remote calibration services, patient-centric care, aging medical equipment, regulatory compliance.
The medical equipment calibration services market size is expected to see rapid growth in the next few years. It will grow to <b>$2.45 billion in 2028 at a compound annual growth rate (CAGR) of 10.6%. </b> The growth in the forecast period can be attributed to digital health expansion, eco-friendly calibration practices, preventive maintenance, clinical laboratory accreditation, patient safety. Major trends in the forecast period include telehealth equipment calibration, remote calibration support, digital calibration solutions, internet of things (iot)-enabled calibration, artificial intelligence (ai)-enhanced calibration.
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Segmentation & Regional Insights
The medical equipment calibration services market covered in this report is segmented –
1) By Service: In-house, Third-Party Services, Original Equipment Manufacturer (OEM)
2) By Equipment: Fetal Monitors, Imaging Equipment, Vital Sign Monitors, Infusion Pumps, Cardiovascular Monitors, Ventilators, Other Equipments
3) By End User: Hospitals, Clinical Laboratories, Other End Users
<b>North America</b> was the largest region in the medical equipment calibration services market in 2023. <b>Asia-Pacific</b> is expected to be the fastest-growing region in the forecast period. The regions covered in the medical equipment calibration services market report include Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East and Africa.
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Major Driver Impacting Market Growth
Rising investment in healthcare infrastructure is expected to propel the growth of the medical equipment calibration service market going forward. The growth in healthcare infrastructure would provide better protection for public health. The medical equipment calibration service helps to ensure that the medical devices available are safe and effective. For instance, according to the Indian Brand Equity Foundation, an Indian-based government ministry, the healthcare market can increase threefold to USD 133.44 billion by 2022. In addition, according to the Centre for Medicaid & Medicare Services, in 2020 U.S. health care spending grew 9.7%, reaching $12,530 per person, or $4.1 trillion. Therefore, rising investment in healthcare infrastructure is driving the growth of the medical equipment calibration services market.
Key Industry Players
Major companies operating in the medical equipment calibration services market include <b> Transcat Inc., Tektronix Inc., Fluke Biomedical LLC, Biomedical Technologies Inc., NS Medical Systems, JM Test Systems LLC, JPen Medical, TAG Medical Products, Hospicare Equipment Services Corp., Industrial Calibration and Service Co. Inc, RS Components Ltd., ERD LLC, Calibrationhouse, Autocal Systems Pvt. Ltd., Spectrum Technologies Inc., Custom Calibration Inc., Calibration Laboratory LLC., Morehouse Instrument Company Inc., Strainsert Inc., Sierra Instruments Inc., Medserve Ltd., Bureau Veritas S.A., Intertek Group Plc, Beamex Oy Ab, Trescal S.A., MicronPA, Unique BioMedical Services, DeviceLab Inc., EAG Laboratories, EdgeOne Medical Inc., Eurofins Scientific SE </b>
The medical equipment calibration services market report table of contents includes:
1. Executive Summary
2. Medical Equipment Calibration Services Market Characteristics
3. Medical Equipment Calibration Services Market Trends And Strategies
4. Medical Equipment Calibration Services Market – Macro Economic Scenario
5. Global Medical Equipment Calibration Services Market Size and Growth
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26. South America Medical Equipment Calibration Services Market
27. Brazil Medical Equipment Calibration Services Market
28. Middle East Medical Equipment Calibration Services Market
29. Africa Medical Equipment Calibration Services Market
30. Medical Equipment Calibration Services Market Competitive Landscape And Company Profiles
Top Major Players:
- Transcat Inc
- Tektronix Inc
- Fluke Biomedical LLC
- Biomedical Technologies Inc.
- NS Medical Systems
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