North America ISOs Medical Device and Equipment Maintenance and Calibration Services Market, 2014-2030 Factors such as the enhancements in the medical device industry, stringent regulatory norms, and high awareness on preventive medical equipment maintenance will drive the North American independent service organizations (ISOs) medical device and equipment maintenance and calibration services market at an 8.
New York, March 22, 2021 (GLOBE NEWSWIRE) -- Reportlinker.com announces the release of the report "North America ISOs Medical Device and Equipment Maintenance and Calibration Services Market, 2014-2030" - https://www.reportlinker.com/p06036110/?utm_source=GNW
9% CAGR during the forecast period (2021–2030). The market accounted for a $1,468.8-million size in 2019, and it is expected to reach $3,612.9 million by 2030. Currently, the market is witnessing the trend of the adoption of comprehensive contracts among the medical centers in the region.
Medical equipment maintenance has been mandatory in North America under a stringent regulatory framework. For example, the regulations of the U.S. Centers for Medicare and Medicaid Services (CMS), guidelines of the U.S. Food and Drug Administration (USFDA) and original equipment manufacturers (OEMs), and accreditation requirements of the Healthcare Facilities Accreditation Program (HFAP), Det Norske Veritas (DNV), and The Joint Commission (TJC) necessitate adherence to equipment maintenance by the hospitals in the region.
Additionally, the increasing awareness regarding preventive medical equipment maintenance will boost the North American ISOs medical device and equipment maintenance and calibration services market in the future. Medical devices, such as ultrasound systems, X-ray systems, and endoscopes, are used in several clinical applications. These systems require proper and constant maintenance to increase their lifespan. In addition, maintenance and calibration aid in preventing infections due to the usage of such devices on multiple patients. To avoid any unprecedented situation, healthcare facilities are increasingly focusing on the cleanliness of medical equipment and devices.
The automation segment of the North American ISOs medical device and equipment maintenance and calibration services market is bifurcated into automated devices and manual devices. Of these, the automated devices category accounted for the larger market share in 2019, and it is expected to hold its dominance in the forecast years. This can be attributed to the amplifying financial support from the government for medical automation, increasing technological innovations in automation solutions, and fueling need for the accuracy and reproducibility of medical devices and equipment.
At present, the North American ISOs medical device and equipment maintenance and calibration services market is highly fragmented due to the presence of numerous market players. These companies are actively entering into mergers and acquisitions to gain a competitive edge. For instance, Agiliti Inc. acquired Mobile Instrument Service & Repair Inc. in February 2020, to widen its product portfolio by including the general and laparoscopic handheld instrument, flexible and rigid endoscope, and video camera and processing system repair and maintenance services offered by the latter.
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