Medical Equipment Maintenance Market Worth 2,242.0 mn USD by 2020

According to a new market research report "Medical Equipment Maintenance Market (Remote monitoring & maintenance) by Modality (Advance, Primary), Type (Single Vendor OEM, Multi-Vendor OEM), Independent Service Organizations), End-User (Hospitals & Clinics, Diagnostic Center) - Global Forecast to 2020", published by MarketsandMarkets, The global market (remote monitoring & maintenance) is expected to reach USD 2,242.0 Million by 2020 from USD 1,034.2 Million in 2015, at a CAGR of 16.7% during the forecast period.

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The market report analyzes and studies the major market drivers, restraints, opportunities, current market trends, and strategies impacting the medical equipment maintenance market (remote monitoring & maintenance) along with the estimates and forecasts of the revenue in North America, Europe, Asia, and the Rest of the World (RoW).

This market is experiencing remarkable growth due to the rising need to cut healthcare costs, reduce estimated time to repair (ETTR) of equipment, innovations in IT to minimize maintenance costs, and growing need to collect equipment data and integrate healthcare systems. However, data reliability issues associated with remote monitoring systems is a major factor limiting the growth of this market.

The report segments the medical equipment maintenance market (remote monitoring & maintenance) based on modality, vendor type, and region. On the basis of modality, the advance modality segment dominates the medical equipment maintenance market (remote monitoring & maintenance) in 2015.

On the basis of vendor type, the multi-vendor OEMs segment is estimated to grow at the highest CAGR during the forecast period. Growth in this segment is attributed to the fact that major companies in the market are offering full-fledged medical equipment maintenance (remote monitoring and maintenance) services.

Geographically, the medical equipment maintenance (remote monitoring and maintenance) market is segmented into North America, Europe, Asia, and the Rest of the World (RoW). In 2015, North America is expected to dominate the market, followed by Europe. However, Asia is expected to grow at the highest CAGRs of 18.0% each during the forecast period. Factors such as increasing public and private funding for the development of healthcare facilities, increasing awareness about diagnosing diseases at an early stage, rising patient population, and growing number of technologically advanced diagnostic imaging systems are likely to propel the growth of this market.

The Medical Equipment Maintenance Market (remote monitoring & maintenance) is highly competitive. Prominent players in the medical equipment maintenance market (remote monitoring & maintenance) include GE Healthcare (U.K.), Siemens Healthcare GmbH (Germany), Koninklijke Philips N.V. (Netherlands), Toshiba Medical Systems Corporation (Japan), Fujifilm Holdings Corporation (Japan), Hitachi Medical Systems, Inc. (Japan), Aramark (U.S.), Carestream Health, Inc. (U.S.), Dragerwerk AG & Co. KGaA (Germany), and Esaote SpA (Italy).