Managed Equipment Service Market to Grow by More than 12% CAGR
The managed equipment service market is projected to grow at an expected CAGR of 12.3% during the forecast period 2021-2031. AI (Artificial Intelligence), Big Data and other technologies will continue to expand the effectiveness and importance of medical technology.
A Managed Equipment Service (MES) is a healthcare customer solution to manage medical equipments in a hospital including provision, ownership, installation, purchase, commissioning, user training, maintenance, asset management and replacement. This service ensures scalability, sustainability, and a high-quality clinical output.
Managed equipment service are offered by many healthcare companies to hospitals and healthcare organizations at a fixed monthly or annual service fee. Hospitals are generating whole-life operational cost savings and enhancing the patient care experience with the help of managed equipment services.
Due to surging demand of medical devices and pharmaceuticals, the market of MES is expected to grow at a significant rate during the forecast period.
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What is Driving Demand for Managed Equipment Service?
There is an increase in the private sector, which is continuously working with governments to address the needs of health systems. This is one of the factor contributing to the growth of Managed Equipment Service globally. The service helps organizations focus on balancing the best economic and operational value.
It also guarantees the vendor-neutral, informed, clinical choice of both clinical consumables and equipments. Such factors are helping further helping the managed equipment service market to grow in upcoming years.
MES provides a dedicated in-house design and clinical departments to hospitals and healthcare organizations to plan and project-manage the commissioning, installation and training on all equipments. The service also improves running costs through processes standardization. Thus, the market of managed equipment service is projected to grow in upcoming years.
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What are the Key Trends for Managed Equipment Service?
Hospitals and healthcare organizations are adopting MES services to uphold performance and service standards and to train staff of hospital to maintain and use the equipment. They are continuously doing multi-year contracts with MES companies to place an IT system, which can monitor the use of equipment. Over time, it results in better planning for equipment purchases. Such trends are triggering the growth of managed equipment service, globally.
There is an increase in the development of affordable medical equipments from innovative companies from emerging markets such as China and India that are competing both on quality and price. It is more cost efficient for hospitals and healthcare organizations to conclude MES contracts rather than making singular purchases. Such trends are going to help the MES market to grow during the forecast period.
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North America Demand Outlook for Managed Equipment Service
Hospitals in the region are moving towards the adoption of managed equipment services for and enhancing the patient care experience. The growing application of MES in the healthcare organizations for training, maintenance and asset management, has opened new growth opportunities for market.
The key factor for driving the MES market in North America is the presence of major industry players. Hospitals and healthcare organizations in the region are showing keen interest in adopting MES services. Such factors will drive the growth of managed equipment services in North America.
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Europe Demand Outlook for Managed Equipment Service
Europe is expected to witness a high growth as the region is witnessing high demand of managed equipment services for emerging market health. There is an increase in governmental regulations and stringent quality control guidelines, which will fuel the growth of MES market in Europe.
The healthcare industry in the region is focusing on implementing the MES solution to ensure scalability, sustainability, and a high-quality clinical output. Due to such factors, the market of MES will see many opportunities for growth in this region.
Who are the Key Managed Equipment Service Vendors?
Some of the leading vendors of managed equipment service include
- Siemens Healthcare GmbH
- GE Healthcare
- Toshiba Medical Systems Europe B.V.
- Koninklijke Philips NV
- Stryker Corporation
- Cardiac Services Inc.
- Olympus Corporation
- Healthcare Technologies International
- Asteral Ltd.
- ClearMedi Healthcare Pvt. Ltd.
- Serco Group
are some of the key players in the market. These companies are increasing their market share through strengthening customer relationships, innovation, smart hiring practices, and acquiring competitors.
- Single-vendor Service
- Multi-vendor Service
By End users
- Healthcare Organizations
- North America
- Latin America
- Rest of Latin America
- Rest of Europe
- East Asia
- South Korea
- South Asia & Pacific
- Australia & New Zealand
- Rest of South Asia & Pacific
- Middle East & Africa
- GCC Countries
- South Africa
- North Africa
- Rest of Middle East & Africa
The report is a compilation of first-hand information, qualitative and quantitative assessment by industry analysts, inputs from industry experts and industry participants across the value chain.
The report provides in-depth analysis of parent market trends, macro-economic indicators and governing factors along with market attractiveness as per segments. The report also maps the qualitative impact of various market factors on market segments and geographies.
Managed Equipment Service Report Highlights:
- Detailed overview of parent market
- Changing market dynamics in the industry
- In-depth market segmentation
- Historical, current and projected market size in terms of value
- Recent industry trends and developments
- Competitive landscape
- Strategies of key players and products offered
- Potential and niche segments, geographical regions exhibiting promising growth
- A neutral perspective on market performance
- Must-have information for market players to sustain and enhance their market footprint
NOTE - All statements of fact, opinion, or analysis expressed in reports are those of the respective analysts. They do not necessarily reflect formal positions or views of the company.