LONDON, Sept. 06, 2022 (GLOBE NEWSWIRE) -- According to The Business Research Company’s research report on the medical equipment calibration services market, rising investment in healthcare infrastructure is expected to propel the growth of the medical equipment calibration service market going forward. The growth in healthcare infrastructure would provide better protection for public health. The medical equipment calibration service helps to ensure that medical devices available are safe and effective. For instance, according to the Indian Brand Equity Foundation, an Indian-based government ministry, the healthcare market can increase three-fold to US $133.44 billion by 2022. In addition, according to the Centre for Medicaid & Medicare Services, in 2020 U.S. health care spending grew 9.7%, reaching $12,530 per person, or $4.1 trillion. Therefore, rising investment in healthcare infrastructure is driving the growth of the medical equipment calibration services market.
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The global medical equipment calibration services market size is expected to grow from $1.14 billion in 2021 to $1.29 billion in 2022 at a compound annual growth rate (CAGR) of 13.1%. The global medical equipment calibration services market size is expected to grow to $1.86 billion in 2026 at a CAGR of 9.5%.
Strategic partnerships and collaborations are gaining popularity in the medical equipment calibration services market trends. Companies operating in medical equipment calibration services are undergoing partnerships to strengthen their position in the market. For instance, in April 2022, Ultimo, a US-based company that provides information technology services, partnered with Fluke Biomedical, a US-based medical equipment calibration services manufacturer. This partnership would aim to help healthcare organizations improve efficiency by minimizing the time that technicians spend on manual, paper-based, or repetitive tasks. Furthermore, in March 2020, Tektronix Inc., a US-based manufacturer of medical equipment calibration services, partnered with Coherent Solutions, a US-based software and consulting company. This partnership aims to provide fully-integrated optical communications platforms to new and existing customers in support of the growing global demand for communications across the telecom, datacom, defense/aerospace, and semiconductor markets.
Major players in the medical equipment calibration services market are Transcat Inc, Tektronix Inc, Fluke Biomedical, Biomedical Technologies Inc, NS Medical Systems, JM Test Systems, JPen Medical, TAG Medical, Hospicare Equipment Services Corp, Industrial Calibration and Service Co. Inc, RS Calibration, Aussin, ERD LLC, Calibrationhouse, and Autocal Systems.
The global medical equipment calibration services market is segmented by service into in-house, third-party services, original equipment manufacturer (OEM); by equipment into fetal monitors, imaging equipment, vital sign monitors, infusion pumps, cardiovascular monitors, ventilators, others; by end-user into hospitals, clinical laboratories, others.
As per the medical equipment calibration services market analysis, North America was the largest region in the market in 2021. Asia-Pacific is expected to be the fastest-growing region in the global medical equipment calibration services market during the forecast period. The regions covered in the global medical equipment calibration services market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, the Middle East, and Africa.
Medical Equipment Calibration Services Global Market Report 2022 – Market Size, Trends, And Global Forecast 2022-2026 is one of a series of new reports from The Business Research Company that provide medical equipment calibration services market overviews, medical equipment calibration services market analyze and forecast market size and growth for the whole market, medical equipment calibration services market segments and geographies, medical equipment calibration services market trends, medical equipment calibration services market drivers, medical equipment calibration services market restraints, medical equipment calibration services market leading competitors’ revenues, profiles and market shares in over 1,000 industry reports, covering over 2,500 market segments and 60 geographies.
The report also gives in-depth analysis of the impact of COVID-19 on the market. The reports draw on 150,000 datasets, extensive secondary research, and exclusive insights from interviews with industry leaders. A highly experienced and expert team of analysts and modelers provides market analysis and forecasts. The reports identify top countries and segments for opportunities and strategies based on market trends and leading competitors’ approaches.
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