The global medical industry is one of the world’s fastest growing industries, absorbing over 10% of gross domestic product of most developed nations. It constitutes of broad services offered by various hospitals, physicians, nursing homes, diagnostic laboratories, pharmacies and ably supported by drugs, pharmaceuticals, chemicals, medical equipment, manufacturers and suppliers.
The world’s major regions are expected to see health care spending increases ranging from 2.4 percent to 7.5 percent between 2015 and 2020. Even as countries strive to expand health care access or institute forms of universal coverage, infrastructure issues are making it increasingly difficult for public health care systems to sustain current levels of service and affordability.
Medical devices are assets that directly affect human lives. It is important to have a well-planned and managed Maintenance program that is able to keep the medical equipment in a health-care institution reliable, safe and available for use when it is needed for diagnostic procedures, therapy, treatments and monitoring of patients.
A maintenance strategy includes procedures for inspection, as well as preventive and corrective maintenance. Performance inspections ensure that equipment is operating correctly, safety inspections ensure the equipment is safe for both patients and operators, and preventive maintenance (PM) aims to extend the life of the equipment and reduce failure rates. Additionally, some hidden problems may be discovered during a scheduled inspection. However, performing inspections of equipment only ensures that the device is in good operating condition at the time of inspectioan and cannot eliminate the possibility of failure during future use; the nature of most electrical and mechanical components is that they can potentially fail at any time. Corrective maintenance (CM) restores the function of a failed device and allows it to be put back into service.
An effective Medical Equipment Maintenance program consists of adequate planning, management and implementation. Planning considers the financial, physical and human resources required to adequately implement the maintenance activities. Once the program has been defined, financial, personnel and operational aspects are continually examined and managed to ensure the program continues uninterrupted and improves as necessary. Ultimately, proper implementation of the program is key to ensuring optimal equipment functionality.
The global market of medical equipment maintenance (remote monitoring & maintenance) is expected to reach USD 2,242.0 million by 2020 from USD 1,034.2 million in 2015, at a CAGR of 16.7% during the forecast period. This market is experiencing remarkable growth due to the rising need to cut healthcare costs, reduce estimated time to repair (ETTR) of equipment, innovations in IT to minimize maintenance costs, and growing need to collect equipment data and integrate healthcare systems. However, data reliability issues associated with remote monitoring systems is a major factor limiting the growth of this market.
The market of medical equipment maintenance is dominated by North America, followed by Europe, Asia, and the Rest of the World. While North America is expected to dominate the market in 2015, Asia is expected to grow at the highest CAGR during the forecast period. Factors such as increasing public and private funding for the development of healthcare facilities, increasing awareness about diagnosing diseases at an early stage, rising patient population, and growing number of technologically advanced diagnostic imaging systems are likely to propel the growth of market of medical equipment maintenance.
For further reading click on the link below:
Interventional Neurology-Medical Devices Pipeline Assessment, 2017
Embolization and Coiling Devices-Medical Devices Pipeline Assessment, 2017
Ankur Gupta, Head Marketing & Communications
ankur [@] kenresearch.com
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