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Medical Equipment Repair & Maintenance Services in the US - Industry Market Research Report

Publisher IBISWorld
Published Sep 25, 2024
Length 83 Pages
SKU # IBSS19342957

Description

Medical Equipment Repair & Maintenance Services in the US - Industry Market Research Report


Medical Equipment Repair & Maintenance Services in the US

Rising healthcare expenditures, aided by an aging population, have translated into higher medical equipment utilization in recent years. As healthcare providers deliver more treatments to more patients, the frequency and volume of medical repairs have increased. Yet, restrictions on repairs by original equipment manufacturers (OEMs) and the COVID-19 pandemic have limited growth. OEMs restrict independent repair technicians' access to parts, tools, software and knowledge necessary for repairs, citing safety concerns and lack of oversight. COVID-19 created challenges for equipment repair providers, as cancellations of medical procedures dropped how often medical equipment required repairs. Recovering health expenditure and rebounding patient volumes between 2021 and 2022 recovered the need for medical equipment repairs, but it doesn't offset the impact of earlier challenges. In all, industry revenue has fallen at a CAGR of 0.6% over the past five years, totaling an estimated $10.1 billion in 2023 when revenue is expected to drop 1.2%.

Operators in this industry repair and maintain precision electrical medical equipment and devices. Repairs performed at the expense of a manufacturer (recalls, warranties) aren't included in this industry.

This report covers the scope, size, disposition and growth of the industry including the key sensitivities and success factors. Also included are five year industry forecasts, growth rates and an analysis of the industry key players and their market shares.

Table of Contents

83 Pages
ABOUT THIS INDUSTRY

Industry Definition
Main Activities
Similar Industries
Additional Resources

INDUSTRY AT A GLANCE

INDUSTRY PERFORMANCE

Executive Summary
Key External Drivers
Current Performance
Industry Outlook
Industry Life Cycle

PRODUCTS & MARKETS

Supply Chain
Products & Services
Demand Determinants
Major Markets
International Trade
Business Locations

COMPETITIVE LANDSCAPE

Market Share Concentration
Key Success Factors
Cost Structure Benchmarks
Basis of Competition
Barriers to Entry
Industry Globalization

MAJOR COMPANIES

OPERATING CONDITIONS

Capital Intensity
Technology & Systems
Revenue Volatility
Regulation & Policy
Industry Assistance

KEY STATISTICS

Industry Data
Annual Change
Key Ratios

JARGON & GLOSSARY

Pricing

Currency Rates
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