Medical Equipment Calibration Services Outlook 2034: Key Drivers, Trends, and Market Frontiers
Discover trends, market shifts, and competitive outlooks for the medical equipment calibration services industry through 2025-2034 with The Business Research Company’s reliable data and in-depth research
#How Has The Medical Equipment Calibration Services Market Size Shifted, And What Is the Outlook Through 2034?
The market for medical equipment calibration services has significantly expanded in the past few years. The market is projected to increase from $1.65 billion in 2024 to $1.83 billion in 2025, with a compound annual growth rate (CAGR) of 10.8%. Factors contributing to this growth during the historical period include worldwide health readiness, the provision of remote calibration services, focus on patient-focused care, aging medical infrastructure and the need to comply with regulations.
The market size for calibration services in the medical equipment sector is projected to expand rapidly in the upcoming years. By 2029, it estimated to reach $2.74 billion, experiencing a compound annual growth rate (CAGR) of 10.7%. This predicted surge during the forecasted period can be linked to factors such as the rise of digital health, environmentally friendly calibration methods, preventative upkeep, accreditation of clinical laboratories, and patient safety. Key trends during this time are expected to consist of telehealth equipment calibration, support for remote calibration, digital calibration solutions, calibration enabled by the internet of things (IoT), and calibration improved by artificial intelligence (AI).
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How Are Key Drivers in the Industry Acting as Catalysts for the Growth of theMedical Equipment Calibration Services Market?
The advancement of the medical equipment calibration service market is set to be driven by increased investment in healthcare infrastructure. Enhancements in healthcare infrastructure will lead to improved public health protection. Calibration services for medical equipment play an integral role in confirming the safety and effectiveness of existing medical devices. For example, projections from the Indian Brand Equity Foundation, a government-backed agency in India, indicate that the healthcare market may triple to USD 133.44 billion by 2022. Furthermore, data from the Centre for Medicaid & Medicare Services reveals that U.S. healthcare expenditure rose by 9.7% in 2020, totaling $12,530 per individual, or $4.1 trillion. Thus, the medical equipment calibration services market is being propelled by a surge in healthcare infrastructure investments.
Which Segments in the Medical Equipment Calibration Services Offer the Most Growth?
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
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What Are the Fastest-Growing Geographies in the #How Are Key Drivers in the Industry Acting as Catalysts for the Growth of theMedical Equipment Calibration Services Market?# 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.
What Are the Current Market Growth and Trends in the Medical Equipment Calibration Services Industry?
The rise of strategic alliances and collaborations is a notable trend impacting the medical equipment calibration services market. This can be seen as companies in this industry join forces to fortify their market stance. An example of this trend can be seen in April 2022, when Ultimo, an information technology services firm based in the US, formed a partnership with Fluke Biomedical, a US-based manufacturer of medical equipment calibration services. The objective of this alliance is to assist healthcare organizations in enhancing their efficiency by reducing the time technicians have to spend on manual, paper-based, or repetitive tasks.
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What Are the Key Elements That Define the Medical Equipment Calibration Services Market?
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.
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