Impact of covid-19 on Asia Pacific Medical Equipment Maintenance Market with CAGR value 9.8% during 2020-2027| Stryker, Abbott, Medtronic

The Medical Device industry is undergoing rapid transformations since a few years now. Various technological improvements have been witnessed in the segments including diagnosis and treatment options for chronic diseases. The increase in incidences of chronic illnesses and the increasing ageing population are the primary factors fuelling the growth of healthcare segment.

The Asia Pacific medical equipment maintenance market expected to be US$ 3,079.23 Mn in 2018 and is predicted to grow at a CAGR of 9.8% during the forecast period 2020 – 2027, to reach US$ 7,053.03 Mn by 2027.

The Asia Pacific Medical Equipment Maintenance Market is growing along with the healthcare industry, but the market is likely to slow down its growth due to the shortage of skilled professionals, suggests the Business Market Insights report.

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Medical tourism is one of the driving factors that is leading to the growth of medical equipment maintenance in the Asia Pacific region. With increasing costs of manufacturing against their practices, the medical device manufacturers are struggling to generate enough revenue to please their investors.

These factors are expected to offer broad growth opportunities in the Medical Device industry and this is expected to cause the demand for Medical Equipment Maintenance in the market.

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MEDICAL EQUIPMENT MAINTENANCE – MARKET SEGMENTATION

By Device Type

  • Electromedical Equipment
  • Endoscopic Devices
  • Surgical Instruments
  • Other Medical Equipment

By Service Type

  • Preventive Maintenance
  • Corrective Maintenance
  • Operational Maintenance

By Service Provider

  • Original Equipment Manufacturers
  • Independent Service Organizations
  • In-House Maintenance

By Geography

  • Asia Pacific (APAC)
  • Malaysia
  • Singapore
  • Thailand
  • Philippines
  • Indonesia
  • Taiwan
  • Korea
  • Hong Kong
  • Rest Of Asia-Pacific

Company Profiles

  • Stryker
  • Boston Scientific
  • Medtronic
  • Edward Lifesciences
  • Johnson & Johnson
  • Abbott
  • Terumo Corporation
  • B. Braun Melsungen Ag
  • Aramark Services, Inc.
  • Althea

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