Medical Equipment Calibration Services Market Trends Report 2025 – For Business Development and Strategy Teams
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What Is the Forecast for the Medical Equipment Calibration Services Market Growth in 2025?
Over the past few years, the market size for medical equipment calibration services has experienced a swift expansion. The market is set to rise from a value of $1.65 billion in 2024 to $1.83 billion in 2025, with a compound annual growth rate (CAGR) of 10.8%. Factors such as global health readiness, the provision of remote calibration services, the focus on patient-oriented care, the presence of aging medical equipment, and adherence to regulatory norms have driven growth during the historic period.
What Is the Forecast for the Medical Equipment Calibration Services Market Size Through 2029?
In the ensuing years, the market size for medical equipment calibration services is predicted to experience a swift expansion. It is projected to surge to $2.74 billion in 2029, with a Compound Annual Growth Rate (CAGR) of 10.7%. This growth during the forecast period can be associated with the rise in digital health, environmentally conscious calibration practices, preventive maintenance, accreditation of clinical laboratories and patient safety. The forecast period is also expected to see major trends like calibration of telehealth equipment, support for remote calibration, digital calibration solutions, calibration enabled by Internet of Things (IoT), and calibration enhanced by Artificial Intelligence (AI).
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What are the Key Market Players in Medical Equipment Calibration Services Market and How They’re Evolving?
Major companies operating in the medical equipment calibration services market include 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
What Are the Primary Growth Drivers in the Medical Equipment Calibration Services Market?
Growth in the medical equipment calibration service market is anticipated due to escalating investments in healthcare infrastructure. Upgrades in such infrastructure assure enhanced public health protection. The role of the medical equipment calibration service is crucial in affirming the safety and effectiveness of available medical devices. Correspondingly, as per the Indian Brand Equity Foundation, a government ministry based in India, the healthcare market has the potential to triple its value, reaching up to USD 133.44 billion by 2022. Further, the Centre for Medicaid & Medicare Services reported in 2020 that healthcare spending in the US surged by 9.7%, amounting to $12,530 per person or a total of $4.1 trillion. Eventually, the surging investments in healthcare infrastructure act as the primary driver fueling the expansion of the medical equipment calibration services market.
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What Are the Leading Segments in the Global Medical Equipment Calibration Services Industry?
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 Equipment
3) By End User: Hospitals, Clinical Laboratories, Other End Users
Subsegments:
1) By In-house: Internal Calibration Services, Preventive Maintenance And Calibration
2) By Third-Party Services: Independent Calibration Labs, On-Site Calibration Services
3) By Original Equipment Manufacturer (OEM): Manufacturer-Sponsored Calibration, OEM Warranty Calibration Services
What Are the Key Market Trends in the Medical Equipment Calibration Services Industry?
The increasing trend of strategic alliances and collaborations is becoming quite prominent in the medical equipment calibration services market. Firms functioning within this scope are starting to partner in order to consolidate their market position. A case in point is that in April 2022, Ultimo, a company specializing in information technology services based in the US, forged a partnership with Fluke Biomedical, also a US-based producer of medical equipment calibration services. The intent of this alliance is to aid healthcare institutions in enhancing their efficiency by cutting down the time spent by technicians on manual, paperwork-intensive, or recurring tasks.
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What Is the Regional Outlook for the Medical Equipment Calibration Services Market?
North America was the largest region in the medical equipment calibration services market in 2024. Asia-Pacific 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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This Report Delivers Insight On:
1. How big is the medical equipment calibration services market, and how is it changing globally?
2. Who are the major companies in the medical equipment calibration services market, and how are they performing?
3. What are the key opportunities and risks in the medical equipment calibration services market right now?
4. Which products or customer segments are growing the most in the medical equipment calibration services market?
5. What factors are helping or slowing down the growth of the medical equipment calibration services market?
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