Global Medical Equipment Calibration Services Market, by Service Type (In-house, Original Equipment Manufacturer (OEM), and Third-party Services), by End User (Hospitals & Clinics, Diagnostic Laboratories, and Others {Specialty Centre, among others}), and by Region (North America, Latin America, Europe, Asia Pacific, Middle East, and Africa), 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), as highlighted in a new report published by Coherent Market Insights.
Medical equipment used for diagnostic and treatment purposes at hospitals, clinics, and other medical centers is prone to wear and tear, thus requires periodic calibration to assure safety of the patients. This leads to an increase in the demand for medical device calibration services, which is further expected to drive the global medical equipment calibration services market growth over the forecast period.
For instance, according to an article published by the National Center for Biotechnology Information, in January 2022, it is estimated that around 400,000 hospitalized patients in the U.S experience medical errors which leads to nearly 100,000 deaths every year.
Global Medical Equipment Calibration Services Market – Impact of Coronavirus (Covid-19) Pandemic
COVID-19 outbreak was first reported on December 31, 2019, in Wuhan, China. According to the Coronavirus (COVID-19) Weekly Epidemiological Update by the World Health Organization, over 422 million cases and 5.9 million deaths due to Coronavirus (COVID-19) were reported up till February 22, 2022, across the globe.
The COVID-19 pandemic has affected several markets across the globe, however, it is expected to have a positive effect on the global medical equipment calibration services market, owing to high importance of accuracy in medical equipment for use in COVID-19 diagnosis and treatment. For instance, in January 2022, Centers for Disease Control and Prevention (CDC) issued guidelines in U.S. for use of SARS-CoV-2 rapid testing performed in point-of-care settings which requires regular quality control testing and instrument calibration to ensure safety of patients.
Browse 39 Market Data Tables and 27 Figures spread through 151 Pages and in-depth TOC on “Medical Equipment Calibration Services Market”- Global Forecast to 2030, by Service Type (In-house, Original Equipment Manufacturer (OEM), and Third-party Services), by End User (Hospitals & Clinics, Diagnostic Laboratories, and Others {Specialty Centre, among others}), and by Region (North America, Latin America, Europe, Asia Pacific, Middle East, and Africa),
To know the latest trends and insights prevalent in the global medical equipment calibration services market, click the link below:
Key players operating in the market are focusing on launching mobile calibration lab services, in order to strengthen their position in the global market. For instance, in June 2021, Godrej & Boyce, a part of Godrej Group, an India based conglomerate company announced the launch of mobile calibration lab service across the southern parts of India in order to provide on-site calibration.
Key Takeaways of the Global Medical Equipment Calibration Services Market:
- The global medical equipment calibration services market is expected to exhibit a CAGR of 9.8% over the forecast period, owing to high importance of medical equipment calibration services. For instance, according to an article published by the Biomedical Research journal, a peer reviewed journal in May 2018, medical equipment calibration is of high importance in the healthcare industry. Accurate and reliable measurements are essential for appropriate medical decisions as un-calibrated medical devices give inaccurate measurements which may affect the quality of the healthcare services provided to patients, negatively.
- Among end user, hospitals & clinics segment is expected to account for the largest market share in 2022, owing to large number of hospital admissions where medical equipment requiring periodic calibration is used. For instance, according to the 2020 AHA Annual Survey published by the American Hospital Association, a health care industry trade group it is estimated that there were around 36,241,815 admissions of patients in all the U.S. hospitals, in 2019.
- Key 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.
