Medical Equipment Calibration Services Market
Medical equipment may drift from their actual measurement values due to the wear and tear of their internal components: mechanical and electronics. This leads to a decrease in the performance and inaccuracy of the medical equipment. Any discrepancy in the readings of medical equipment used in medical/healthcare industry may severely affect the patient’s life. Regulatory bodies such as the U.S. Food and Drug Administration (FDA) have laid certain guidelines for the medical device manufacturers to comply with in regards to calibration of their manufactured devices. Calibration must be done as recommended by the manufacturer as every medical device has its unique tolerance limit and requires a different calibration technique. Device calibration can be performed in-house, by the original equipment manufacturer (OEM) and third-party contractor. A calibration cycle is followed by complete documentation including calibration plan, standard operating procedure (SOP), calibration results sheet, and others.
The global medical equipment calibration services market is estimated to be valued at US$ 1,326.9 million in 2022 and is expected to exhibit a CAGR of 9.8% over the forecast period (2022-2030).
Figure 1. Global Medical Equipment Calibration Services Market Share (%), By Region, 2022
The increasing demand for calibration services is expected to drive the market growth over the forecast period.
Medical device failure may lead to medical errors which could prove to be life threatening for the patients. For instance, according to an article published by the Studies in Health Technology journal, a healthcare journal, in 2017, it is estimated that around 251,000 deaths occur annually due to medical error in the U.S. This creates a high demand for calibration services, which is expected to drive the global medical equipment calibration services market over the forecast period.
| Report Coverage | Details | ||
|---|---|---|---|
| Base Year: | 2019 | Market Size in 2022: | US$ 1,326.9 Mn |
| Historical Data for: | 2016 to 2019 | Forecast Period: | 2022 to 2030 |
| Forecast Period 2022 to 2030 CAGR: | 9.8 % | 2030 Value Projection: | US$ 2,809.3 Mn |
| Geographies covered: |
|
||
| Segments covered: |
|
||
| Companies covered: |
Tektronix, Inc., NS Medical Systems, Fluke, Transcat, Inc., Helix Private Limited, Spectrum Technologies, JM Test Systems, Micron, JPen Medical, Industrial Calibration and Service Company, Inc., DD Group, Seal Calibration, Hospicare Equipment Services Corporation, ERD, LLC., Aussin, Calibrationhouse, Obelis UK Ltd, Autocal Systems, Forest Medical UK LTD, and Medisave UK Ltd. |
||
| Growth Drivers: |
|
||
| Restraints & Challenges: |
|
||
Figure 2. Global Medical Equipment Calibration Services Market Value (US$ Mn), By End User, 2022
Key players operating in the market are focusing on providing annual calibration services, which is expected to drive growth of the global medical equipment calibration services market over the forecast period.
For instance, Nordic Service Group, a Denmark-based medical and laboratory equipment service provider offers annual calibration services for medical equipment such as patient simulators, infusion pump analyzers, defibrillator analyzers, gas flow analyzers, digital pressure meters, and others in Holland and England. Along with calibration, Nordic Service Group also includes latest software and firmware update of the medical equipment.
Global Medical Equipment Calibration Services Market – Impact of Coronavirus (Covid-19) Pandemic
SARS-CoV-2 (Severe acute respiratory syndrome coronavirus) was first reported from Wuhan, China in December 2019, and was declared as a global pandemic by the World Health Organization (WHO), which designates this SARS-CoV-2 infection as novel Coronavirus (COVID-19). According to the Coronavirus (COVID-19), Weekly Epidemiological Update by the World Health Organization, COVID-19 has spread across the globe infecting over 422 million population leading to more than 5.9 million deaths as of February 22, 2022. The negative impact of COVID-19 on the healthcare domain is huge and it has significantly disrupted the healthcare industries’ entire supply chain, from raw materials to manufacturing and delivery. However, the COVID-19 pandemic is expected to show a positive impact on the overall growth of the global medical equipment calibration services market, owing to growing need for calibration of medical devices in order to ensure accurate diagnosis of COVID-19 and related complications.
For instance, in November 2020, the World Health Organization (WHO) released a ‘Priority medical devices list for the COVID-19 response and associated technical specifications’. These technical specifications focused on several factors such as calibration documents, regulatory approval/certification, and others to ensure only properly functional and accurate medical equipment is used for the treatment and management of COVID-19 patients.
Global Medical Equipment Calibration Services Market - Restraint
The lack of awareness and eagerness for routine calibration services are factors that are expected to hinder growth of the global medical equipment calibration services market over the forecast period. For instance, according to an article published by the International Journal of Caring Sciences, an academic peer-reviewed journal in May 2020, in a survey conducted amongst healthcare professionals in Turkey, it was observed that around 72.2% of survey participants did not receive any training on calibration while 14.3% of the survey participants reported using un-calibrated devices. This study concluded that healthcare professionals had a low level of knowledge about calibration, did not receive training on calibration and used non-calibrated medical devices.
Key Players
Major players operating in the global medical equipment calibration services market include Tektronix, Inc., NS Medical Systems, Fluke, Transcat, Inc., Helix Private Limited, Spectrum Technologies, JM Test Systems, Micron, JPen Medical, Industrial Calibration and Service Company, Inc., DD Group, Seal Calibration, Hospicare Equipment Services Corporation, ERD, LLC., Aussin, Calibrationhouse, Obelis UK Ltd, Autocal Systems, Forest Medical UK LTD, and Medisave UK Ltd.
Medical equipment calibration helps to detect a defective instrument that does not provide accurate measurement values according to the manufacturer’s standard. Calibration helps in reducing errors uncertainties in measurements and bringing them to an acceptable standard. Medical equipment calibration varies from instrument to instrument. Healthcare professionals rely on the accuracy and precision of medical devices to monitor patients’ health. Medical devices such as Magnetic resonance imaging (MRI) scanners, blood pressure monitors, and others are prone to wear and tear over time which severely affects its accuracy and performance. Any drift in the accuracy and precision of medical equipment is found to be unacceptable in the medical device industry as it directly affects the health of the patient. Thus, it is essential to calibrate medical equipment regularly, without fail. The manufacturer of a medical equipment is responsible for laying out procedure for calibration of its equipment. Medical equipment must be calibrated as many times as recommended by its respective manufacturer in order to maintain its effectiveness.
Market Dynamics
Rising demand for calibration services, increasing demand for refurbished medical equipment, stringent regulatory guidelines for proper functioning of medical devices, and increasing service launches by key players operating in the market are the major factors that are expected to drive growth of the global medical equipment calibration services market over the forecast period.
For instance, according to an article published by the Journal of Biomedical Physics and Engineering in April 2019, medical devices used for monitoring and treatment of patients in hospitals require periodic safety and performance checks including quality control tests, calibration, and others to assure proper functioning. The same source also highlights the need for educational training and programs amongst healthcare workers to create awareness regarding the importance of medical equipment calibration in the medical industry. Thus, high importance of medical equipment calibration is expected to increase the demand for calibration services over the forecast period.
Key features of the study:
Detailed Segmentation:
“*” marked represents similar segmentation in other categories in the respective section.
Joining thousands of companies around the world committed to making the Excellent Business Solutions.
View All Our Clients