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Global Medical Equipment Calibration Services Market by Service (OEM, Third-party Services), by End User (Hospitals, Clinical Laboratories) and Region (North America, Latin America, Europe, Asia Pacific and Middle East & Africa), Forecast To 2028

  • Report ID: MD-69764
  • Author: Up Market Research
  • Rating: 4.6
  • Total Reviews: 65
  • No. Of Pages: 212
  • Format:
  • Pub. Date: 2021-10-14
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Summary of the Report

Global medical equipment calibration services market was valued at USD1.0 billion in 2020. It is projected to grow at a compound annual rate (CAGR of 9.4%) between 2021 and 2028. This is due to technological advances in the medical equipment sector, strict regulations regarding calibration of devices, and increasing awareness about preventative maintenance of medical equipment . The market growth is also driven by other factors such as the increasing demand for refurbished healthcare equipment, and corporate investments in infrastructure. The healthcare sector has been under tremendous pressure due to the COVID-19. All industries and businesses have faced challenges, but hospitals and healthcare facilities are the most affected.

Maintaining medical equipment is more important than ever. Due to the significant health risks associated with the sector, it is subject to strict regulations. These restrictions are further reinforced by the global COVID-19 epidemic. The U.K.'s Medicines and Healthcare Products Regulatory Agency has also issued recommendations to manufacturers and laboratories who need outside engineers to calibrate equipment during the COVID-19 epidemic. The MHRA offers many options for companies who need to calibrate or maintain their equipment.

If an engineer is available, the company should assess the potential for COVID-19 transmission. It should also take steps to ensure that they are kept away from any other employees and properly monitored. Electronic signatures are now possible for protocols and site visits documents. The MHRA can provide assistance for companies that are unable or unwilling to receive remote support. The MHRA advises companies that they keep track of quality systems and to consider the possibility of putting off maintenance.

After a risk assessment has been completed, equipment should be taken out of service. Any remaining maintenance tasks must be completed before it can be reintroduced. Calibration is essential to ensure that the instrument is accurate and precise in order to minimize measurement errors. Equipment calibration is vital in healthcare to ensure patient safety. FDA has established Part 820 QSR Section 72 as a code of regulations regarding medical device calibration requirements. This section deals with testing, inspection, and measurement equipment. It states that certain medical device calibration criteria must be applied to the control of specific parts.

The necessity for precision in medical instruments is recognized by regulatory agencies, and calibration criteria have been established. Device accuracy and precision are crucial as device makers place safety and patient health first. In the medical, pharmaceutical and biomedical sectors, instrument calibration services that comply with regulatory requirements are growing in popularity.

The FDA's medical device calibration regulations require that manufacturers have clear guidelines and limits for precision and accuracy. FDA will evaluate if a medical device does not meet these standards. These flaws must be corrected by the manufacturer of the device. These steps should be documented.

Service Insights

With a market share of more than 40% in 2020, the third-party calibration services segment was the dominant player. It will continue to grow at the fastest CAGR between 2021 and 2028. This is due to the ability to quickly calibrate equipment using a third party source. It is difficult to recreate a calibration laboratory environment. The best results are achieved when every element of the environment is controlled. Manufacturers don't use calibration labs enough to justify maintaining such strict controls.

The instruments should be exposed to the exact same environment conditions as the manufacturer specified during the tuning process. It is important to maintain the same conditions as the manufacturer when shipping equipment to a laboratory for modification. If the laboratory follows strict standards and procedures, one may not be able rely on the results. The risks of outsourcing services to third parties are greatly reduced when a company is accredited by reputable testing agencies.

Over the forecast period, the original Equipment Manufacturer (OEM), services segment will experience the second fastest growth rate at more than 9.5%. An OEM eliminates the need to select a reliable calibration company. It would be calibrated by a company that created the device. This would ensure that all options, parameters and ranges are met.

End-user insights

In 2020, 44.4% of global market revenue was accounted by hospitals. Hospitals continue to prioritize patient safety and health. The calibration of hospital equipment is essential for providing the best patient care. Doctors and nurses depend on it to ensure accuracy and precision. It can help the facility comply with FDA standards.

The fastest expected growth rate for the clinical laboratories segment will be more than 11% over the forecast period. Annual or periodic service plans are preferred by clinical laboratories. These plans cover all instruments validation. By meeting the regulatory quality standards, diagnostic centers also contribute to the growth and development of the global market.

Regional Insights

North America accounted for 37.0% of the global market's largest revenue share in 2020. This region is expected to expand at a substantial CAGR over the forecast period. Medical equipment technology is becoming more complex. This means that there will be more recalls of medical devices. Software, mislabeling and quality issues were the main causes of recalls in 2018. This will lead to an increase in demand for calibration services for medical equipment.

Asia Pacific, on the other hand is expected to be the fastest growing regional market between 2021 and 2028. Europe is expected to also be a major regional market. Many universities in Europe offer specialty programs in biomedical device technology. They also have skilled engineers and technicians that can be valuable resources to medical device players who need calibration services. The market will grow if there are key players like Rohde & Schwarz GmbH & Co KG and Endress+Hauser, IBM Corp., Siemens AG and IBM Corp.

Market Share Insights & Key Companies

To increase their product portfolios and gain market share, market players are taking various strategic initiatives. These include signing new partnerships, collaborations, mergers and acquisitions, geographical expansions, and other forms of cooperation. Tek Drive is a groundbreaking data collaboration tool that Tektronix launched in December 2020. It allows real-time data exchange on an oscilloscope and recall. It is the first general-purpose measurement and test file system that can display data in a manner similar to scopes. The company also stepped up to ensure continuity in maintenance and calibration services during the COVID-19 epidemic. The following are some of the major players in medical equipment calibration services:

  • Tektronix

  • Fluke Biomedical

  • Biomedical Technology Inc.

  • NS Medical Systems

  • Transcat, Inc.

  • JM Test Systems

  • JPen Medical

  • TAG Medical

  • Hospicare Equipment Services Corp.

Up Market Research published a new report titled “Medical Equipment Calibration Services Market research report which is segmented by Service (OEM, Third-party Services), by End User (Hospitals, Clinical Laboratories), By Players/Companies Hospicare Equipment Services Corp, NS Medical Systems, Transcat Inc, JPen Medical, TAG Medical, JM Test Systems, Fluke Biomedical, Tektronix, Biomedical Technologies Inc”. As per the study the market is expected to grow at a CAGR of XX% in the forecast period.


Report Scope

Report AttributesReport Details
Report TitleMedical Equipment Calibration Services Market Research Report
By ServiceOEM, Third-party Services
By End UserHospitals, Clinical Laboratories
By CompaniesHospicare Equipment Services Corp, NS Medical Systems, Transcat Inc, JPen Medical, TAG Medical, JM Test Systems, Fluke Biomedical, Tektronix, Biomedical Technologies Inc
Regions CoveredNorth America, Europe, APAC, Latin America, MEA
Base Year2020
Historical Year2018 to 2019 (Data from 2010 can be provided as per availability)
Forecast Year2028
Number of Pages212
Number of Tables & Figures149
Customization AvailableYes, the report can be customized as per your need.

The report covers comprehensive data on emerging trends, market drivers, growth opportunities, and restraints that can change the market dynamics of the industry. It provides an in-depth analysis of the market segments which include products, applications, and competitor analysis.


Global Medical Equipment Calibration Services Industry Outlook

Global Medical Equipment Calibration Services Market Report Segments:

The market is segmented by Service (OEM, Third-party Services), by End User (Hospitals, Clinical Laboratories).

Medical Equipment Calibration Services Market research report delivers a close watch on leading competitors with strategic analysis, micro and macro market trend and scenarios, pricing analysis and a holistic overview of the market situations in the forecast period. It is a professional and a detailed report focusing on primary and secondary drivers, market share, leading segments and geographical analysis. Further, key players, major collaborations, merger & acquisitions along with trending innovation and business policies are reviewed in the report.


Key Benefits for Industry Participants & Stakeholders:

  • Industry drivers, restraints, and opportunities covered in the study
  • Neutral perspective on the market performance
  • Recent industry trends and developments
  • Competitive landscape & strategies of key players
  • Potential & niche segments and regions exhibiting promising growth covered
  • Historical, current, and projected market size, in terms of value
  • In-depth analysis of the Medical Equipment Calibration Services Market

Overview of the regional outlook of the Medical Equipment Calibration Services Market:

Based on region, the market is segmented into North America, Europe, Asia Pacific, Latin America and Middle East & Africa (MEA). North America region is further bifurcated into countries such as U.S., and Canada. The Europe region is further categorized into U.K., France, Germany, Italy, Spain, Russia, and Rest of Europe. Asia Pacific is further segmented into China, Japan, South Korea, India, Australia, South East Asia, and Rest of Asia Pacific. Latin America region is further segmented into Brazil, Mexico, and Rest of Latin America, and the MEA region is further divided into GCC, Turkey, South Africa, and Rest of MEA.


Medical Equipment Calibration Services Market Overview

Highlights of The Medical Equipment Calibration Services Market Report:

  1. The market structure and projections for the coming years.
  2. Drivers, restraints, opportunities, and current trends of Medical Equipment Calibration Services Market.
  3. Historical data and forecast.
  4. Estimations for the forecast period 2028.
  5. Developments and trends in the market.
        6. By Service:

                1. OEM

                2. Third-party Services

        7. By End User:

                1. Hospitals

                2. Clinical Laboratories

  1. Market scenario by region, sub-region, and country.
  2. Market share of the market players, company profiles, product specifications, SWOT analysis, and competitive landscape.
  3. Analysis regarding upstream raw materials, downstream demand, and current market dynamics.
  4. Government Policies, Macro & Micro economic factors are also included in the report.

We have studied the Medical Equipment Calibration Services Market in 360 degrees via. both primary & secondary research methodologies. This helped us in building an understanding of the current market dynamics, supply-demand gap, pricing trends, product preferences, consumer patterns & so on. The findings were further validated through primary research with industry experts & opinion leaders across countries. The data is further compiled & validated through various market estimation & data validation methodologies. Further, we also have our in-house data forecasting model to predict market growth up to 2028.


How you may use our products:

  • Correctly Positioning New Products
  • Market Entry Strategies
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  • Consumer Insights
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Medical Equipment Calibration Services Market Trends

Reasons to Purchase the Medical Equipment Calibration Services Market Report:

  • The report includes a plethora of information such as market dynamics scenario and opportunities during the forecast period
  • Segments and sub-segments include quantitative, qualitative, value (USD Million,) and volume (Units Million) data.
  • Regional, sub-regional, and country level data includes the demand and supply forces along with their influence on the market.
  • The competitive landscape comprises share of key players, new developments, and strategies in the last three years.
  • Comprehensive companies offering products, relevant financial information, recent developments, SWOT analysis, and strategies by these players.
Chapter 1 Executive Summary
Chapter 2 Assumptions and Acronyms Used
Chapter 3 Research Methodology
Chapter 4 Medical Equipment Calibration Services Market Overview
   4.1 Introduction 
      4.1.1 Market Taxonomy 
      4.1.2 Market Definition 
      4.1.3 Macro-Economic Factors Impacting the Market Growth 
   4.2 Medical Equipment Calibration Services Market Dynamics 
      4.2.1 Market Drivers 
      4.2.2 Market Restraints 
      4.2.3 Market Opportunity 
   4.3 Medical Equipment Calibration Services Market - Supply Chain Analysis 
      4.3.1 List of Key Suppliers 
      4.3.2 List of Key Distributors 
      4.3.3 List of Key Consumers 
   4.4 Key Forces Shaping the Medical Equipment Calibration Services Market 
      4.4.1 Bargaining Power of Suppliers 
      4.4.2 Bargaining Power of Buyers 
      4.4.3 Threat of Substitution 
      4.4.4 Threat of New Entrants 
      4.4.5 Competitive Rivalry 
   4.5 Global Medical Equipment Calibration Services Market Size & Forecast, 2018-2028 
      4.5.1 Medical Equipment Calibration Services Market Size and Y-o-Y Growth 
      4.5.2 Medical Equipment Calibration Services Market Absolute $ Opportunity 


Chapter 5 Global Medical Equipment Calibration Services Market Analysis and Forecast by Service
   5.1 Introduction
      5.1.1 Key Market Trends & Growth Opportunities by Service
      5.1.2 Basis Point Share (BPS) Analysis by Service
      5.1.3 Absolute $ Opportunity Assessment by Service
   5.2 Medical Equipment Calibration Services Market Size Forecast by Service
      5.2.1 OEM
      5.2.2 Third-party Services
   5.3 Market Attractiveness Analysis by Service

Chapter 6 Global Medical Equipment Calibration Services Market Analysis and Forecast by End User
   6.1 Introduction
      6.1.1 Key Market Trends & Growth Opportunities by End User
      6.1.2 Basis Point Share (BPS) Analysis by End User
      6.1.3 Absolute $ Opportunity Assessment by End User
   6.2 Medical Equipment Calibration Services Market Size Forecast by End User
      6.2.1 Hospitals
      6.2.2 Clinical Laboratories
   6.3 Market Attractiveness Analysis by End User

Chapter 7 Global Medical Equipment Calibration Services Market Analysis and Forecast by Region
   7.1 Introduction
      7.1.1 Key Market Trends & Growth Opportunities by Region
      7.1.2 Basis Point Share (BPS) Analysis by Region
      7.1.3 Absolute $ Opportunity Assessment by Region
   7.2 Medical Equipment Calibration Services Market Size Forecast by Region
      7.2.1 North America
      7.2.2 Europe
      7.2.3 Asia Pacific
      7.2.4 Latin America
      7.2.5 Middle East & Africa (MEA)
   7.3 Market Attractiveness Analysis by Region

Chapter 8 Coronavirus Disease (COVID-19) Impact 
   8.1 Introduction 
   8.2 Current & Future Impact Analysis 
   8.3 Economic Impact Analysis 
   8.4 Government Policies 
   8.5 Investment Scenario

Chapter 9 North America Medical Equipment Calibration Services Analysis and Forecast
   9.1 Introduction
   9.2 North America Medical Equipment Calibration Services Market Size Forecast by Country
      9.2.1 U.S.
      9.2.2 Canada
   9.3 Basis Point Share (BPS) Analysis by Country
   9.4 Absolute $ Opportunity Assessment by Country
   9.5 Market Attractiveness Analysis by Country
   9.6 North America Medical Equipment Calibration Services Market Size Forecast by Service
      9.6.1 OEM
      9.6.2 Third-party Services
   9.7 Basis Point Share (BPS) Analysis by Service 
   9.8 Absolute $ Opportunity Assessment by Service 
   9.9 Market Attractiveness Analysis by Service
   9.10 North America Medical Equipment Calibration Services Market Size Forecast by End User
      9.10.1 Hospitals
      9.10.2 Clinical Laboratories
   9.11 Basis Point Share (BPS) Analysis by End User 
   9.12 Absolute $ Opportunity Assessment by End User 
   9.13 Market Attractiveness Analysis by End User

Chapter 10 Europe Medical Equipment Calibration Services Analysis and Forecast
   10.1 Introduction
   10.2 Europe Medical Equipment Calibration Services Market Size Forecast by Country
      10.2.1 Germany
      10.2.2 France
      10.2.3 Italy
      10.2.4 U.K.
      10.2.5 Spain
      10.2.6 Russia
      10.2.7 Rest of Europe
   10.3 Basis Point Share (BPS) Analysis by Country
   10.4 Absolute $ Opportunity Assessment by Country
   10.5 Market Attractiveness Analysis by Country
   10.6 Europe Medical Equipment Calibration Services Market Size Forecast by Service
      10.6.1 OEM
      10.6.2 Third-party Services
   10.7 Basis Point Share (BPS) Analysis by Service 
   10.8 Absolute $ Opportunity Assessment by Service 
   10.9 Market Attractiveness Analysis by Service
   10.10 Europe Medical Equipment Calibration Services Market Size Forecast by End User
      10.10.1 Hospitals
      10.10.2 Clinical Laboratories
   10.11 Basis Point Share (BPS) Analysis by End User 
   10.12 Absolute $ Opportunity Assessment by End User 
   10.13 Market Attractiveness Analysis by End User

Chapter 11 Asia Pacific Medical Equipment Calibration Services Analysis and Forecast
   11.1 Introduction
   11.2 Asia Pacific Medical Equipment Calibration Services Market Size Forecast by Country
      11.2.1 China
      11.2.2 Japan
      11.2.3 South Korea
      11.2.4 India
      11.2.5 Australia
      11.2.6 South East Asia (SEA)
      11.2.7 Rest of Asia Pacific (APAC)
   11.3 Basis Point Share (BPS) Analysis by Country
   11.4 Absolute $ Opportunity Assessment by Country
   11.5 Market Attractiveness Analysis by Country
   11.6 Asia Pacific Medical Equipment Calibration Services Market Size Forecast by Service
      11.6.1 OEM
      11.6.2 Third-party Services
   11.7 Basis Point Share (BPS) Analysis by Service 
   11.8 Absolute $ Opportunity Assessment by Service 
   11.9 Market Attractiveness Analysis by Service
   11.10 Asia Pacific Medical Equipment Calibration Services Market Size Forecast by End User
      11.10.1 Hospitals
      11.10.2 Clinical Laboratories
   11.11 Basis Point Share (BPS) Analysis by End User 
   11.12 Absolute $ Opportunity Assessment by End User 
   11.13 Market Attractiveness Analysis by End User

Chapter 12 Latin America Medical Equipment Calibration Services Analysis and Forecast
   12.1 Introduction
   12.2 Latin America Medical Equipment Calibration Services Market Size Forecast by Country
      12.2.1 Brazil
      12.2.2 Mexico
      12.2.3 Rest of Latin America (LATAM)
   12.3 Basis Point Share (BPS) Analysis by Country
   12.4 Absolute $ Opportunity Assessment by Country
   12.5 Market Attractiveness Analysis by Country
   12.6 Latin America Medical Equipment Calibration Services Market Size Forecast by Service
      12.6.1 OEM
      12.6.2 Third-party Services
   12.7 Basis Point Share (BPS) Analysis by Service 
   12.8 Absolute $ Opportunity Assessment by Service 
   12.9 Market Attractiveness Analysis by Service
   12.10 Latin America Medical Equipment Calibration Services Market Size Forecast by End User
      12.10.1 Hospitals
      12.10.2 Clinical Laboratories
   12.11 Basis Point Share (BPS) Analysis by End User 
   12.12 Absolute $ Opportunity Assessment by End User 
   12.13 Market Attractiveness Analysis by End User

Chapter 13 Middle East & Africa (MEA) Medical Equipment Calibration Services Analysis and Forecast
   13.1 Introduction
   13.2 Middle East & Africa (MEA) Medical Equipment Calibration Services Market Size Forecast by Country
      13.2.1 Saudi Arabia
      13.2.2 South Africa
      13.2.3 UAE
      13.2.4 Rest of Middle East & Africa (MEA)
   13.3 Basis Point Share (BPS) Analysis by Country
   13.4 Absolute $ Opportunity Assessment by Country
   13.5 Market Attractiveness Analysis by Country
   13.6 Middle East & Africa (MEA) Medical Equipment Calibration Services Market Size Forecast by Service
      13.6.1 OEM
      13.6.2 Third-party Services
   13.7 Basis Point Share (BPS) Analysis by Service 
   13.8 Absolute $ Opportunity Assessment by Service 
   13.9 Market Attractiveness Analysis by Service
   13.10 Middle East & Africa (MEA) Medical Equipment Calibration Services Market Size Forecast by End User
      13.10.1 Hospitals
      13.10.2 Clinical Laboratories
   13.11 Basis Point Share (BPS) Analysis by End User 
   13.12 Absolute $ Opportunity Assessment by End User 
   13.13 Market Attractiveness Analysis by End User

Chapter 14 Competition Landscape 
   14.1 Medical Equipment Calibration Services Market: Competitive Dashboard
   14.2 Global Medical Equipment Calibration Services Market: Market Share Analysis, 2019
   14.3 Company Profiles (Details – Overview, Financials, Developments, Strategy) 
      14.3.1 Hospicare Equipment Services Corp
      14.3.2 NS Medical Systems
      14.3.3 Transcat Inc
      14.3.4 JPen Medical
      14.3.5 TAG Medical
      14.3.6 JM Test Systems
      14.3.7 Fluke Biomedical
      14.3.8 Tektronix
      14.3.9 Biomedical Technologies Inc
Segments Covered in the Report
The global Medical Equipment Calibration Services market has been segmented based on

By Service
  • OEM
  • Third-party Services
By End User
  • Hospitals
  • Clinical Laboratories
Regions
  • Asia Pacific
  • North America
  • Latin America
  • Europe
  • Middle East & Africa
Key Players
  • Hospicare Equipment Services Corp
  • NS Medical Systems
  • Transcat Inc
  • JPen Medical
  • TAG Medical
  • JM Test Systems
  • Fluke Biomedical
  • Tektronix
  • Biomedical Technologies Inc

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